Are Teams a Winning Real Estate Formula?
Looking for a savvy real estate agent?
First, decide if just one will do, or if you’d prefer two or more.
According to a 2017 survey by the National Association of Realtors, 19 percent of agents report being part of a team.
Consisting of one high-producing agent backed by assistants, or a partnership between two or more agents, teams are “the way of the future,” says Tom Ferry, a real estate sales coach whose research shows agents like teams because they boosts their sales volume.
Still, while agents are attracted to teams, some sellers and buyers may prefer to deal with one agent, as they might have in the past but consumers will like having easy access to specialists, Ferry adds.
Sellers, especially, should examine how a team functions before signing on, says Jennifer Allan- Hagedorn, a former agent and author of “Sell With Soul” (BlueGreen Books, 2015).
“In the first two weeks, sellers should be in contact with their agent or someone on the team daily,” she says. Daily contact is needed to apprise sellers of all marketing efforts, like brochures and listings on websites, and feedback from buyers who tour the home.
Both buyers and sellers should not feel as if their agent relegated them to other, less competent team members, she adds.
Before signing on, ask “the agent at your initial meeting about his or her team, and who you can expect to be working with, says Ferry.
And talk to previous clients, too, suggests Melissa Crockett Willis, of realty firm Howard Hanna. Here, experts share questions to ask:
1. How were you introduced or transitioned from one team member to another?
2. Were all your concerns handled promptly and professionally?
3. Was there more opportunity to schedule showings; if your primary agent was unavailable?
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