Agent to agent: 5 critical factors when forming a real estate team

Agent teams are on the rise, but plan carefully before picking partners
  • More and more agents are forming partnerships and enjoying improved production.
  • Make sure you and the potential partner(s) are on the same page about a variety of issues -- don’t assume that equal and independent success will result in team success.
  • While many factors dictate a good partnership, trust and respect remain the most significant.

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

In this monthly column, a member of Miami’s Master Brokers Forum will examine and positively resolve potential differences that may arise between real estate professionals in the field. This month’s edition is written by Master Broker Farid Moussallem, director of international sales at Compass for the Miami Lifestyle Team. The situation: A solo Miami real estate agent is considering forming a partnership. Like other successful real estate pros, I enjoyed the freedom and independence of being a solo practitioner for many years. I felt more comfortable in “my own space," making my own decisions and living with whatever consequences came of them. While I flirted with the idea of forming or joining a team at various times, I ultimately decided to stay independent in each instance. But last year, I finally took the plunge -- for many reasons. Primarily, I noticed that my sphere stopped carrying my business the way it had in previous years, and I needed a more diversified d...