Like many other professions, there’s a divide between working for a company or doing your own things solo. So how do you decide which path to pick? Some individuals shuffle between the two, but there could be a major conflict of interest. So which is better, agency or solo? Should Real Estate Agents join a Team or go solo?
For new real estate agents, it is a critical decision to make. Both working with a real estate team or establishing yourself as an independent agent can bring you positive results in the long run. “Which one should I choose?” Well, the answer highly depends on your priorities and preferences. Do you crave a strong support system to help you get off the ground? Or do you prefer to keep all the commissions for yourself?
- 1 Joining a Real Estate Team/Company: Positive and Negative Sides
- 2 Independent Real Estate Agents: Positive and Negative Sides
Joining a Real Estate Team/Company: Positive and Negative Sides
You’ll Get a Chance to Improve Your Skills
For inexperienced real estate agents, there is no better way to sharpen their professional skills than applying them to sales opportunities. Sales opportunities can be few in the early stages of your profession when few people know you are an agent. The first advantage of working on real estate teams is that teams identify prospects and have access to them. In other words, teams receive a tremendous amount of leads which means you don’t have to generate your own leads. Joining a team will provide you with the chance to increase and develop your professional skills while also having the chance to make money.
Everything Is Done in Collaboration
What will you do if your lead generation strategy isn’t working? What if when working with a client, you come across a problem you have no idea how to solve? Whether you’re a novice or seasoned real estate agent, you could find it difficult to handle obstacles that arise during the process of renting, selling, or buying a home. By joining a real estate team, however, you don’t have to deal with tough situations alone. Teamwork also allows you to focus on your strengths while your teammates take care of other areas. Working together enables the team members to strengthen their areas of weakness and provide the strongest front and service possible.
Property selling could be a well-paid job, albeit for top, productive real estate agents. Though there is a common misconception that real estate agents rake in the cash, working as a salesperson can be costly as well. Marketing costs and the cost of necessary tools and technology are only some of the expenses you must pay. Working in a team, however, significantly lowers some expenditures, such as marketing costs. Join a team and save hundreds of Naira!
You Can Do Networking
Though it is possible to build many business relationships when working independently, this often requires a lot of time and effort to attain. You can network with your teammates, their clients, and many other people by joining a real estate company. Developing relationships with a lot of customers can inevitably result in your next sale. Also, you can grow your professional network by asking your team leader and teammates to introduce you to more people involved in the real estate industry.
You Can’t Create Your Own Professional Identity
If you choose to join a Real Estate Company, making a name for yourself would probably take a backseat. Most clients of Real Estate companies only remember the owners of the company or the name of the company itself, not necessarily the name of the agent or salesperson that closed off a deal for and with them. So it can be difficult for the team members to create their own professional identities or make themselves noticed as individuals.
Independent Real Estate Agents: Positive and Negative Sides
You Have Complete Autonomy over Your Career
For some real estate agents, working alone is the best part of this career. Starting out as an independent real estate agent will provide you with the independence you desire if you are the type of person who likes to have complete control over everything. You can market any way you choose and treat your customers however you see fit. A great part of working alone is embedded in the fact that you could keep all the commissions to yourself. But is it worth it? Should Real Estate Agents join a Team or go solo because of commissions?
No One Will Help You with Fees
Running your own real estate business has certain costs. When working solo, you have to meet all business expenses and licensing fees. So if you decide to start your career independently, make sure that you have enough money to cover your living expenses. Whether you decide to join a real estate team or go solo, remember that neither path necessarily presents a smoother road to success than the other. Consider all positive and negative aspects of both options and pick the one you find comfort in.
So which would you go for if you were to be a Real Estate Agent? And what do you think – Should Real Estate Agents join a Team or go solo?