It’s no surprise that the team approach to selling real estate appeals to many people. After all, dividing the numerous responsibilities associated with each transaction and building on each team member’s strengths can produce better customer service, as well as improve the agents’ lifestyle.
Yet as the number of real estate teams grows, so does the competition between those teams. Each team needs to find a way to differentiate themselves from others and to prove its unique value to buyers and sellers.
Deliver convenience for consumers
Today’s buyers and sellers have high expectations for convenience and stellar service. While all teams promise to support their customers, teams that are affiliated with a brokerage that provides all-inclusive, one-stop shopping for buyers and sellers can break out from the crowd. For a successful transaction, many moving parts must be coordinated around the real estate transaction itself—mortgage, title, insurance, and so many more requirements. All of this must be communicated effectively with buyers and sellers.
A team that can provide smooth, seamless service during every part of the homeownership experience can quickly earn a reputation as the group that takes the pressure off what can be an admittedly stressful experience.
Secure the backing of an all-inclusive brokerage
With the backing of a brokerage that has extensive affiliated businesses or services under one umbrella company, teams can be particularly adept at providing the support required in every aspect of a real estate transaction. Team members who are trained as relationship managers can make the process of buying, selling, insuring a property and even moving a singular experience, rather than dozens of individual, and often variable, experiences. Most people move once every five to 10 years. A team that coordinates moves daily can simplify the process through their expertise and the ability to leverage internal service partners.
While many real estate agents and teams can recommend a lender, a title company, a home inspector, an insurance agent or a home improvement contractor, there’s a big difference between making a recommendation and having an established business relationship with those providers.
An agent or a team can’t deliver truly superior customer service unless their brokerage owns the company and can set expectations for its service level. Just bringing in vendors doesn’t always work as well as the ability to create a sense of urgency and to prioritize deadlines that comes with partner companies, especially affiliates of your brokerage. Customers can benefit from the convenience, ease of access and ease of delivery provided by a team that’s part of a brokerage with comprehensive lines of business.
When you’re ready to start a team, it’s definitely worth carefully considering the brokerage with which you’ll be affiliated. The more services the brokerage can provide, the better value you can give to your customers.
The Long & Foster Companies has long offered a comprehensive suite of services for its real estate agents and teams. Wes Foster led the concept of a one-stop shop, opening Long & Foster Insurance in the early 1970s just a few years after founding Long & Foster Real Estate. The firm has added numerous complementary business lines since then, from mortgage and title to moving and home maintenance services. It even is a part owner of tech start-up MoxiWorks and continues to add new business lines for its agents and their clients. It’s all part of the company’s comprehensive focus on innovation, always ensuring its associates and teams have all-inclusive backing and support to build and grow their businesses.