According to Chicago Agent’s Real Data, of the top 20 real estate agents in the Chicagoland area, 15, or 75 percent, employed a dedicated team, and six of those 15 were the highest performing agents in Chicago; additionally, one of the other top producers worked in a partnership.
ActiveRain, a real estate blogging network, states that most teams include a team leader, brokers who work with sellers, brokers who work with buyers and non-licensed personnel who work in the office. In addition, according to an article in Realty Times, power agent teams can be greatly beneficial; hiring and training staff and delegating tasks can free an agent up to focus on high-level client needs, drumming up more business, serving more clients and even having some sort of personal life when not working.
But the reason to create a partnership or team is because pooling resources can reduce risk, increase leverage and improve sales and profits, according to the National Association of Realtors’ Field Guide to Partnerships and Teams. How do you decide if that’s the route you should go?