Episode 66: Should You Join A Real Estate Team?

Today on The Epic Agent Success Podcast, hosts Jerry and Jacobe are talking about joining a Real Estate Team. Should you join a team? What are the qualifications and what do you need to look into if you are thinking about it? Is there a difference between a team and a brokerage? Tune in to hear all that you need to know about it.

Episode Highlights:

• Real Estate teams are more prevalent than they have ever been before. Jerry says there is confusion around it, some people assume that it is just about brokerages.
• What is the difference between a team and a brokerage?
• You have two options when you go into a brokerage. Jacobe talks about them and breaks down the pros and cons. 
• Jacobe asks Jerry why he chose to originally be a solo agent rather than joining a team.
• Two of the big questions are “What is the value that a team brings?” and “Are all teams created equal?” How do you know?
• Jacobe talks about a team that he interviewed with and experiences he has heard from other agents. 
• Everybody tells you that they have training but are they actually thoroughly providing that? Jacobe talks about how training is actually now very prevalent in real estate. 
• What is a cap and what are splits? Jerry reviews them and what the averages are. There can also be transaction fees.
• What about a mega team with eXP? 
• Jacob talks about evaluating what everything means with so many different options.
• What kind of brokerage do you want to be a part of? A broker cannot provide value to you if they don’t have any revenue.
• Jerry talks about how he was with a low fee brokerage for 8 years. He talks about what he has to pay for in addition to that though.
• Jacobe talks about his first experience with a team which was a large franchise.
• What should you look for as you’re looking for a team? What should you avoid?

• Closing more deals and being able to have a life also should be the value a team provides.
• What are you looking to make? Awards and rankings don’t mean much if you aren’t actually articulating and executing what matters to you.
• Are you losing valuable time? Jacobe talks about the intangible treasure it is and how many don’t spend enough time evaluating it. 
• The distinction has to be made between money making activities and those that are not. A good team will be supporting your abilities to do that.
• Everyone is going to tell you that they can give you leads. Jacobe says you must ask what kind of leads.
• What about leads that you need to nurture and follow up with for future business?
• Many places can provide information of people who have clicked buttons to see pictures of houses but those aren’t actual leads. Jacobe says that you should see the proof in the statistics of other team members of where their lead sources come from.
• Are you going to be able to be successful because the team is helping you close deals? 
• You have to know what activities are considered support services and should be allocated elsewhere especially if you're doing a high volume of deals.
• What about building new business, not just what is here and now?

Resources Mentioned:

• https://www.facebook.com/groups/444333123042225
• https://www.facebook.com/jacobe.kendrick
• https://www.facebook.com/jerry.weaver.165
• https://www.youtube.com/channel/UCVFMBPTdQYerCJVuXM0_WiQ
• https://www.weaverrealtypro.com/