Thoughts about groups and teams

[EllenArlingtonPark]

Originally Posted by Brandon Hoffman

Are you talking about partnerships or teams? They are 2 different things. I think a well run team is better than a solo agent or partnership from an efficiency standpoint. (exception being the solo agent that stays well informed on market but doesn't take on more business than they can handle - there aren't many like that).

A partnership, on the other hand, is typically doomed to fail unless it's a husband wife partnership. Typically in that situation on of the spouses is the driving force and the other is support.

I have a team. My team is great. I have a marketing coordinator that does the web updates/mailers/etc. I have a transaction coordinator that takes it contract to close. She doesn't get tied up showing homes or delivering fliers so she has more time to devote to getting properties closes. I have a showing specialist that primarily shows homes. It's all very efficient.

I was a great solo agent but I'd get too busy and get overwhelmed so I'd say I'm better with a support staff. My listings would get ignored and I'd have constant peaks and valleys. I hired help and the peaks/valleys leveled out and my customer service got better again. Got busy, hired more help, you get the idea. I try not to micromanage too much but I am very hands on and do as much as my time allows. My team keeps me informed and I ask questions so we don't have communication issues. To be a great solo agent, you have to work a lot or limit the amount of clients you take on or your service slips.

Thanks for that Brandon. Is everyone licensed? Do you have a designated selling agent and designated buyers agent? Do you often represent both sides of the transaction? If so how to you (Team Leader, Broker) maintain confidentiality of the clients information?

[teamirene]

When dual agency is the issue I think conflict of interest is always the main concern, whether it's with a single agent or a team/partnership - even when a different agent in the team is assigned to the buyer and seller the team/partnership is still effectively a dual agent, and the agents involved are likely to have a close relationship and at least some common financial interest.

I'd stay away from it whenever possible as a buyer or seller, and in nine years I've only done it once as an agent (a really odd situation that ended up working out.)

As far as teams go just in general, when it's done right it can be a huge plus to both agents and clients in terms of sharing workload and extra attention to the client. Just be sure you are compatible with the other agents and the working policy from the beginning, partnerships in particular can be challenging to keep going.

[Brandon Hoffman]

Originally Posted by EllenArlingtonPark

Thanks for that Brandon. Is everyone licensed? Do you have a designated selling agent and designated buyers agent? Do you often represent both sides of the transaction? If so how to you (Team Leader, Broker) maintain confidentiality of the clients information?

Marketing coordinator does web updates/mailers/fliers/etc and is not licensed. Paid hourly.
I work with sellers myself.
Showing specialist primarily shows homes. Paid strictly commission.
Transaction coordinator takes over after contract. Paid flat rate per closing.
I attend all initial buyer meetings, listing appts, and closings myself. I handle all seller communication. My cell phone is what I advertise everywhere so I also handle all calls myself. If one day I ever get too busy I'll get a second phone and it will be a "team" phone that we take turns on.

We don't often run into dual agency. When it does happen, I handle everything about the transaction myself for liability reasons. Confidentiality is not an issue any more than it is with a single agent. I don't disclose confidential info to anyone in the transaction since I hold duties to both. I become a mediator (Here's the offer and terms. Here's your net sheet based on the offer. You can accept, counter, or reject it. What would you like to do?) Any questions seeking advice are met with "I cannot advise you that matter as a dual agent." Most of my sellers actually hope for dual agency because I offer a variable commission if we sell it ourselves. They know what they'll take or pay so it's alright if I'm just a mediator.