If you are a working Realtor or thinking about it, you’ve probably thought about what it would be like to work on your own. Owning your own business is, after all, the American Dream. But have you thought about the benefits of working with a team?
When you’re on your own all of the responsibilities fall on you
Answering phones, typing out documents, showing properties, marketing them, etc. All of this on top of what you need to do to sell properties and make a living. It’s difficult and some people do it. You absolutely do get to keep all of your own income. Sure you can hire someone to do the administrative tasks, but then you have the sole responsibility of not just supporting yourself, but paying all of the taxes and benefits involved in employing someone. You also are completely responsible for paying the lease for your office space, utilities and other costs involved in being in business. So do the drawbacks outweigh the benefits? Probably not.
If you join a you get a lot of benefits
The team shares the responsibilities. There is an administrative assistant to answer phones and type out documents, make arrangements for closings and other items. The taxes and responsibility of paying benefits and salary is shared by the team. The team benefits continue when it comes to finding leads, marketing properties, helping out if you’re new and being able to “sub in” if something comes up and you can’t keep an appointment.
Yes, there are drawbacks. Commissions on sold properties are split between the Realtor and the team. After all there are costs involved in running a business and all need to pitch in to stay in business. That even applies if you came up with your own leads. Drawbacks, yes, but the benefits of that sharing are a huge help for any Realtor, especially a new one.
So which will you do?