BrokerageIndustry News

Agent teams pose challenges for brokers

Some report growth in team participation

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Editor's note: View additional Inman News coverage of agent teams and related issues here. While agent teams can create their support network by pooling resources and sharing expenses, they also pose challenges for brokers and brokerage companies. There is the matter of office space to accommodate teams, as well as marketing costs and technical support. "The interesting thing is agent teams aren't growing by leaps and bounds, but they do create unique challenges for the brokerage to understand how to partner with them," said Joe Spencer, president of John L. Scott Real Estate, which has 140 offices and 3,500 agents in Oregon, Washington and Idaho. "It's more dynamic than dealing with an individual agent." Spencer said that while less than 5 percent of John L. Scott agents are part of a team, the team model is the subject of much discussion within the broker industry, as the team is basically a business operating within a business. Other brokerage compa...