Why be a lone-wolf real estate agent when you could join a team? Teams help many agents be more productive and offer higher-quality services to clients. However, you’ll want to know the right questions to ask before joining a real estate team to ensure you get on the path to a successful career. Our team at Become a Local Leader® recommends the following list to get you started.
1. What Is the Team’s Reputation?
As you look for real estate teams to join, ask yourself, “What is the team’s reputation?” Associating yourself with agents who have a bad reputation can hurt your career. You’ll want to find a team with longstanding, healthy relationships and excellent reviews from the industry and community.
It doesn’t take much to determine a team’s reputation. Here are some tips:
- Talk to previous buyers
- Get in touch with sellers
- If you’re already part of the real estate business, ask associates
- Request references from previous clients
2. What Are the Company Values?
Real estate teams follow the values of their company. If a business has strong values, its teams will likely have integrity and honesty with their clients. On the flip side, poor or weak values often lead to underhanded behavior and selfish ambition.
One of the best questions to ask before joining a real estate team is: What are the company values? You’ll want to find a group of agents who work hard, invest in each other, and maintain a customer-first approach. Teams like this will also help you get integrated a little better.
3. How Is the Team Structured?
The first thing to ask is, “How many agents are on the team?” This will give you an idea of how big they are. Then ask how many offices they have in your area—the more locations they have, the more properties they’re able to show people.
You’ll want to understand the team’s structure before joining it. Find out who takes the lead and what policies they follow. This can give you an idea of how you’d fit in and if you’ll have advancement opportunities.
4. What Are the Long-term Goals?
Long-term goals help a real estate team continue to move forward. Without them, agents will spin their wheels in the day-to-day grind and grow apathetic. Everyone wants to be part of something bigger than themselves, and team goals provide a rallying point.
As you consider joining a team, ask about their long-term goals. What do they hope to gain in the next few weeks, months, and years? Then ask yourself if you want to be part of those objectives and work with the team to achieve them.
5. How Does the Team Handle Finances?
Money is often a touchy subject. However, you’ll need to learn how the team handles finances and fees to calculate your potential earnings. Here are some financial questions every future team member should ask:
- Will I get paid by salary, commission, or a hybrid method?
- How do bonuses work in a team setting?
- Will my commissions have a cap?
- How much do average team members earn annually?
- What about brokerage fees (office fees, desk fees, insurance fees, etc.)?
- What about business cards, marketing, and other startup fees?
6. What Is the Team’s Culture Like?
One of the most critical questions to ask before joining a real estate team is, “What is the culture like?” Some groups have a great culture, fantastic team chemistry, and a comfortable, productive work environment. Others, not so much—they may stick more to themselves or not value every team member equally.
Knowing what kind of culture your potential new team has before climbing aboard can save you a lot of headaches in the future. Your workplace should be a safe, healthy environment. Consider these questions as you shop around for a real estate team:
- Do they greet clients with enthusiasm and respect?
- Do clients feel rushed through the process without much information or care?
- Is there a welcoming atmosphere where every agent knows each other’s names?
- Do more experienced agents tend to keep their distance from newer team members?
7. What Role Will I Fill on the Team?
Real estate teams don’t have any spare parts—everyone should fit in somewhere. As you research teams and learn about their overall structure, visualize your ideal role. Think about your potential position on the team and how it’ll impact other team members.
You can talk to the team manager about potential roles and tasks. Beyond regular agent responsibilities, team members are often in charge of several other duties. You’ll want to ask about the following:
- Who will call me when clients are looking for houses?
- Will I be responsible for preparing contracts?
- Who will be in charge of open houses?
8. Will They Invest in My Training and Education?
You’re the new kid on the block when you first join a team of agents. Other agents will likely have more experience, deeper relationships, and better education. The best teams will invest in your training and education to help you succeed.
Some important questions to ask before joining a real estate team include:
- Will I receive training, and what form will that take?
- Can I get support to continue my education?
- Will an older or more experienced agent mentor me?
9. What Technology Does the Team Use?
Technology can help real estate agents in many ways. State-of-the-art tools allow team members and clients to communicate efficiently and accurately track their goals. If you want to know how to build a successful real estate team, we have the resources to help you get started.
Teams with the right tech can collaborate better and constantly assess their progress, finding ways to simplify processes and make them more effective. Learning about a team’s technology will help you figure out what they’re doing to get ahead.
Get Started Today
Knowing the right questions to ask before joining a real estate team will help you find the right fit. At Become a Local Leader®, we provide essential resources for agents, teams, and brokerages. Contact us to learn more and discover practical ways to get real estate clients.