BrokerageIndustry News

Brokers taking the ‘I’ out of team

From The Real Deal

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Editor's note: This article is reposted with permission by The Real Deal. Click here to view the original article. By C.J. HUGHES 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. "It was so time-consuming to train (other members of the team), to make sure everything was fine, instead of just being the street broker that I used to be," said Terry Naini, a broker with Prudential Douglas Elliman in Bro...