BrokerageIndustry News

Brokers taking the ‘I’ out of team

From The Real Deal
Published on May 6, 2010

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by CareyBot

NEW YORK -- A year ago, teaming up looked like a great idea for real estate agents. Industrywide, there had been a decade-long trend toward consolidation. Plus, in a bad economy, who wouldn't want more bodies scouring the city for leads?

That was then. Now, a handful of agents are disbanding their teams or shelving plans to form them. They say that the larger coalitions, which are also referred to as "groups," add too much bureaucracy and risk. They also note that teams can be ploys to boost gross commissions so that agents or brokers can qualify for higher splits with their firms.