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Depends on you.
What is your strength?
I like working alone on my deals...I know what is done and that it is done the way I like it.
I like independent, but look who's on my arm!!! Dare I say solo? NOT!
During my first year in real estate I was approached by a team to become a member. I declined it because I did not want everything that I work for to be given to one person. The problem that I have with teams is that one person gets all the credit for what everyone collectively does.
in my younger years, I would never had created a team....I wanted full control and did not even have an assistant....always productive with high volume.... as we get older, we think about the distant future and how we want to approach retirement.....I'm now what I call "semi retired" and I work every day.... I only market and the team members do all of the work...I do none and receive a referral fee for every transaction....I make the phone ring and I love every minute of it.... I can do this from anywhere....and I can do it until both eyes close or I don't remember what my name is!!! whichever comes first.
Depends on the personality and dedication of the Realtor. My wife and I own our business and can't imagine working for or with a Team again.
Depends on how you define a team. I do have one person that takes buyers out and is the front man for listings since my wife and I only take care of investment real estate. I do have "team members" like two people in Romania who do specific task, and one more coming on board. At a certain point an individual is only capable of so many transactions and without help, service suffers.
Only IF you can find the right chemistry and shared values. There are other ways to work out back-up coverage so be very careful before jumping into a team relationship if you are in real estate for the long term.
Individual. Teams have to have the right members to make it work. I've seen several teams last less than one year.
I work as an individual . I would like to work as a team.
At some point if you get busy and big you need a team to handle all the leads that come in.
I like the support we give each other in a team. But Nina is right. Running a team takes extra effort
Three things are required.
1. the team must be comprised of complementary genius
2. the team must have an over-reaching purpose
3. they must respect the vision of the Why and the pragmatic When. (genius type)
Now you have a team with a purpose, inspiration, talent and the greatest opportunity of fulfillment for everyone involved.
A team can accomplish more. Done improperly, the smoldering ruins left behind can be enormous.
I've done both and I prefer being an individual broker versus running a team--but that's because it suits me at this stage of my life and career. If I were 20 years young, I might have a different opinion.
Ross, while you may more money as an individual initially, working as a team is far better. As an individual you will cap out.
It's better to work as an individual if profit sharing becomes a source of contention for team players.
Tricky question - for a team to succeed, individuals have to all do great work individually. Masterminding and splitting up tasks is great, but in the end, it all comes down to individuals.
Team and partnership deals are the best. IMHO
I think working as a team is more effective.
I can see the benefits of working with a team, but I like working on my own.
If you have a team to rely on you can build a much larger business.