The real estate industry is a large tent offering the opportunity for many different business models to thrive. Tight-knit independent offices, 100-percent commission firms, big-brand franchisors, virtual brokerages, tech-driven startups and luxury boutiques all have their place. They benefit from their unique strengths and also must face their biggest threats. Over the last several years real estate teams have emerged as another force in the industry that can no longer be brushed off as a fad.
- Well-run real estate teams offer agents work/life balance and are ultimately greater than the sum of their parts.
- The team model comes with inherent risks that can result in a bumpy transaction.
- Nearly 60 percent of real estate pros would consider joining a real estate team or starting one of their own.