Trend Watch: Real Estate Agent Teams

Sales slow? You might want to consider teaming up. The latest in real estate trends, real estate agent teams are showing massive sales promise.

Why are real estate agent teams cleaning up the competition?

Teams can tackle customer service with greater ease, often earning realty teams five star ratings from clients.

The scoreboard:

A look at a matchup between Pennsylvania area Realtors shows:

• 8 homes: The number of homes sold on average by Centre County agents.
• 20 homes: The average number of homes sold by agents at Kissinger Bigatel & Brower Realtors (near Penn State).
• 135 homes: The number of homes KBB partner Peter Chiarkas and his teammates, Laurel Cardillo and Krissy Bonson score in a year.

Go team!

With results like those, it's no wonder real estate agent teams are climbing the rankings in real estate trends.

No "i" in team...

Results like these with a solo operation would be impossible. A single individual handling everything involved with that amount of turnover – and doing it well – just isn't realistic. That's why 25 percent of KBB utilizes agent teams.

The draft?

To keep clients happy (and not feeling neglected), after 50 transactions, agents typically need an assistant. After 100, another. After 150, a third.

The sign-on bonuses of teams:

• Teams are highly visible.
• Team economics are not the sum of their parts – business actually increases exponentially.
• Teams have a better chance of success. Real estate trends show a 33 percent failure rate after two years versus a 90 percent failure rate for new, solo agents.

Though not a necessary ingredient for success, the team model, when hiring is done selectively, can allow agents to work to their strengths for the success of the team, offering a support net for agent weaknesses.

To view the original article, visit the Properties Online blog.