Benefits of Using a Real Estate Team to Buy or Sell a Home
Having been a Realtor for nearly 18 years and experiencing being a single agent for 5 years and then starting a Real estate team nearly 13 years ago, I get asked quite a bit about the benefits of using a team for a real estate transaction VS using a single agent. There are pros and cons with just about anything, however in my honest opinion, the difference is significant. (unless you have a WHOLE team of incompetent people, for which would be worse than using ONE incompetent agent :). Here are my (5) best of the best reasons on how you can benefit by using a Real Estate Team for your real estate needs.
1. Availability - Teams simply have more "bodies" to help accommodate the buyer and seller needs. Even if an agent or agents are out of town on vacation, with family, at other appointments, etc... someone is typically always there to pick up where they left off. Long and short, the business keeps running, no lag time or delays, and in this day and age of immediate gratification- this leads to happier customers and better experience. This first one is a common sense one for me and being a team leader, this one has optimum value for us.
2. Efficiency - Most teams (like mine) have administration staff that could include an executive assistant/transaction coordinator (TC), marketing directors, etc. This helps leverage the day to day operations and marketing, so that the agents can be out with clients at listing meetings or showing homes, while the paperwork and correspondence with Clients, other agents, title companies, inspectors, appraisers, contractors, home warranty companies does not miss a beat. Most of our clients value COMMUNICATION more than anything and we are able to give real time updates so that they never wonder where they are in their transaction. We work by the "Tell them before they ask." motto when it comes to updates and communication. This really just scratches the service with staff. They complete a multitude of other task including Client care, coordinating client appreciation events, tracking agent production, etc. etc.
3. Combined Experience/Expertise - Teams often have a diverse expertise having members with a broad skillsets, accreditations, and shine in areas such as marketing, problem solving or other areas for which they have specific knowledge. For example; I represent a local builder in our area and I consider myself a new construction specialist. If the other team members have questions about new construction homes, processes, or simply how to structure an offer for a newly built home/custom home/new home not complete, I can help them navigate through that process so that they can best advise their clients. I can tell you from experience, many other agents that send offers MISS alot of details that can make things "messy" down the road. Not necessarily for the builder, but for their clients/customers. Other examples may include team members having a specific skillset with marketing, negotiating, communicating, etc. We all learn from eachother to ultimately make the consumer experience the best that we can.
4. Bigger and Broader Network - This could be relative to "popularity," however MOST of the time, a team of agents will KNOW or have connected with more people than a single agent AND/OR have a bigger client base/Sphere of influence because there are simply more than one human agent. lol. Why is this important? The answer is simple- We can typically get our clients homes in front of more of the right people if they are trying to sell, AND our BUYER clients will know about our upcoming listings before anyone else does. I cannot tell you how many times that we have played "matchmaker" at our team meetings because one of had a new listing that "matched" what one of our buyer clients was looking for. This can often lead to less inconvenience to the seller, coordinating is easier because the groundwork and expectation is set upfront, the buyer didn't have to compete with a TON of other buyers, just to name a few.
5. More transactions simultaneously - Having been a single agent for many years before developing a team, I can remember juggling multiple transactions at once and i'll tell you first hand..it is challenging both mentally and physically. NO transaction is exactly the same. Problems/concerns arise, we deal with inspection repair issues, appraisal issues, title issues, coordinating issues, possession issues, breach of contract issues, survey discrepancies, issues with loan officers/lenders, and /or just sweet buyers or sellers that like to chat for hours while your phone is blowing up with texts/calls/emails that have time sensitive factors...and this list goes on and on. All of these are very real variables and it can be draining. When you have multiple team members working towards the same goal for the greater good, we all help leverage each other when one of us is treading water to stay afloat.
Those are my personal top 5 (from years of experience), however there are many others that I could mention but the point is simple. A single agent wears all of the hats during a real estate transaction. (Listing agent, buyer agent, marketing director, transaction coordinator/assistant, etc) Most of the time, each member of a Real Estate team has a specific role/duty for which leads to better efficiency, faster response times with multiple inquiries, in essence, creating a better/smoother customer experience.
Don't get me wrong, there are single agents that absolutely crush it and can carry a heavy load, but having been on both sides, I understand the challenge to juggle heavy loads over a long period of time while still trying to balance other aspects of life.