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Real Estate Fight Club

11
Dec 2019

Episode 11: Is It a Good or Bad Idea for an Agent to Join a Team?

December 11, 2019

In Episode 11 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over whether it’s a good or bad idea to join a team. Hear why Jenn thinks joining a team can help new agents, and learn why Monica believes every agent can succeed on their own. This episode covers important questions to ask if you’ve ever considered joining a team. 

Episode Highlights: 

  • Is it a good or bad idea to join a team?
  • Jenn thinks realtors need an apprentice program. 
  • In Jenn’s opinion, new agents especially, need to join teams to learn sales skills they may not otherwise have.
  • However, Jenn does not think you should join a team simply because you haven’t had success. If you’ve been in the industry for a while without success, hire a coach.
  • Many agents that don’t succeed either don’t have sales skills or they aren’t putting in the work.
  • A number of people get into real estate because they think they can be their own boss but then they forget to work.
  • Not everyone who leads a team is a good leader.
  • Monica believes 80% of teams are lacking leadership from the top.
  • Monica sees many people join teams out of scarcity and panic.
  • She feels that people inevitably either outgrow the team or continue to flounder.
  • When joining a team, ask yourself if you want to be an employee.
  • Jenn thinks many of these variables depend on the team.
  • You can’t just expect to be handed everything and keep all the money too.
  • Jenn feels that the whole team system needs to be overhauled. The barrier to entry needs to be higher and team owners need better leadership skills.
  • Monica points out that in other industries you would not turn a top salesperson into a sales manager.
  • Monica believes every agent can succeed on their own.
  • Not all teams are set up to teach their people.
  • Jenn would like to see a program where agents are funneled through different aspects of the industry over a few years.
  • In the Lab Coat Agents Facebook group, agents were split on this question.
  • Whether or not you should join a team depends on a lot of variables.
  • Jenn reiterates her position that new licensees should join teams to learn.
  • If you're going to join a team you need to talk to several teams, interview them, have an understanding of what their program looks like, what you're going to learn, and what the end goal is.
  • Monica believes there’s room to support each other without having to commingle your lives so much.
  • Monica recounts the drama of team exits.
  • Monica's coach says that before you ask advice from someone you should find out if they've made a lot of money, or lost a lot of money in that arena. Then, ask yourself if you would trade places with that person.
  • When you're doing anything new, you need 3-4 months to reflect on whether something is the best fit.

3 Key Points:

  1. Joining a team can be a great idea for new agents who have a lot to learn. 
  2. Everyone can succeed on their own, so joining a team may not be essential. 
  3. If you do join a team, do your homework. Interview people, understand their system and know the end goal. 

Resources Mentioned: