As an agent, one of the biggest career decisions you’ll make (as if there weren’t enough decisions in the business already!), is whether or not to work as a solo agent, or be part of a real estate team. While it’s a big decision with many pros and cons, it’s nice to know that there is the option of different ways of working. Below are some of the major things to think about when making your decision:

Commission 

Pro

As a team, the daunting price of (especially starting up) a real estate business is split among the team and with the lower initial costs you will likely be able to try more marketing and advertising techniques, or materials that would be too pricey to try on your own. With more money for marketing and advertising and more hands on deck, your team will also likely have more commissions coming in than would be possible if working solo. 

Con

Although divided expenses and and the likelihood of more deals than going solo, you will obviously be splitting commissions with the team. With so many factors and unknowns, it’s hard to know what your take home pay would look like between being solo and as a team - so it’s important to not base your decision off of what the pay will be. (And the reason we have the below points to consider!)

Time Away

Pro

With a team, you can really take time off instead of worrying about the phone calls, emails and texts that will still need to be taken care of - you have your team for that! You also don’t have to worry about slacking on leads, and future business slowing down while you’re away, there are others that have your back! 

Con

As with any organization, you likely will need some type of approval before taking any time. Small teams usually only try to have one person out at a time, so it might be tricky to get the time you’d like off during popular vacation times.

Accountability & Motivation

Pro

The motivation that comes with a team surrounding you can be much stronger than self motivation. Having someone (or many others) all pushing for the same goals while lifting each other up, and holding each other accountable can be just the motivation needed to keep you at your best. Also - who doesn’t want “work friends” to brighten their days?

Con

As the saying goes, “teams are only as strong as their weakest link” and there is always the chance that someone on your team isn’t holding up their end of the workload. This not only brings the overall production of the team down, but can’t hurt other members’ motivation and morale, as well.

Expertise

Pro

With a team, you get to benefit from the division and specialization of the real estate world, meaning not only are you not responsible for everything, but you also don’t have to know everything. With a team, there is more likely a chance that more bases can be covered in terms of client’s needs, as well as specific business aspects of the business like marketing. (And hey, you may also get someone dedicated to doing all the admin work!)

Con

Because there will be others with different expertises and experiences, you may not get to be a part of every deal (especially those that include areas of expertise you aren’t an expert in). This may also mean that you might not learn as much as if you were running a solo business where you have to do it all yourself whether you’re comfortable with certain aspects or not! So if you do decide to later go out on your own, you may have some learning to do!

Brand Recognition

Pro

With the split cost of hiring someone to do professional branding and design for your team, as well as more money for marketing and advertising and more listings (which equals more word of mouth referrals and signs around town), there is likely a higher brand recognition of your team, than if you were going at it alone. This helps sales momentum, as a real estate team that comes to mind when someone needs an agent.

Con

Usually, as a team - only the team leader or original members of the team are known by the “brand recognition”. While this is not super important while you’re working on the team, it could make it tricky to start your own real estate business later and be “known” around town already.