What tops today’s list of real estate selling tips for boosting sales and productivity? Giving teams a try. Real estate teams are on the rise, with transaction rates far outpacing those of top-producing individual agents.
A recent Real Trends report noted between 35,000 and 50,000 real estate teams in the US, with 37% of teams formed between one-to-three years ago and 26% formed just one year ago. (Rankings are based on submissions, with some top-producing teams, agents and brokerages declining to submit their numbers for a variety of reasons.)
Reaching new heights…
• Team submissions grew from 2,233 in 2012, to 4,335 in 2015, growing by 94%. Though this number accounts for only the country’s highest-producing teams, this is enormous growth for a three-year period.
• The top 250 ranked teams completed 61,321 transactions in 2011. In 2015, that number jumped to 70,873. The top 250 individual agents completed 45,074 in 2011 and 35,833 in 2015, respectively. This indicates a 16% increase in transaction volume for teams versus an almost 20% decrease by individuals during the same time periods.
Why do teams work?
Because teams, under one or two team trainers/leaders, work collectively to reach sales goals, agents are able to reap the rewards of sales while easily maintaining a healthy work/life balance. Something unheard of with superhero individual associates working 75+ hour weeks.
How can you foster a team?
Starting a team is among the easiest real estate selling tips to implement. Most teams begin with an administrative person assisting one or two sales associates… And the team grows from there. Why an administrative assistant first? To provide functionality and test the team’s culture. Before starting a team, however, set yourself up for success by ensuring that you have the personal brand/culture – and leads – to support it.
Looking for real estate selling tips with your best interests at heart? Properties Online is on your team.