Real Estate Teams - How And Why They Work

01/12/2007

So you're thinking of putting the old shack on the market, are you? There's a lot to think about. Who's services will you use to sell it? How's the market? Is now a good time to sell? Where will I move? How much is my home worth? Can I be in my new home by Christmas? Should I renovate prior to selling? These are all excellent questions and should be solved with your Realtor's help.

So often we see people enlisting the services of a Realtor only after they have answered all or most of these questions. Quite often decisions are made based on the answers or opinions they have received from friends and family. It's important to realize that the real estate decisions you make now are going to have profound financial affects on your family's life for some time to come (positive or negative). That being said, doesn't it make sense to consult with a professional from the very start?

Real Estate is a vast business that encompasses not only the legal aspects of land transactions, but also requires keen negotiation skills, strong marketing ability and a psychological understanding of human behavior that any marriage councilor would be glad to possess. Of course not all Realtors are created equal. It's important to have someone who has his or her eye on you and not your wallet. A Realtor that puts your interests above his or her pay cheque inherently will guide you through a smooth transaction by eliminating pressure and solving problems before they arrive. The best Realtors understand that "No Deal" is an option in every situation.

The new BuzzWord in my profession these days is "Team". Many brokerages assume that the catch phrase is just the latest in real estate marketing, but that couldn't be further from the truth. Teams were spawn in the very late 80's to satisfy the need of high producing, individual agents. The problem that most Realtors have when they're good at what they do, is the demand on their time becomes so overwhelming that their quality of service diminishes (not to mention their quality of life). Enter the administrative assistant. This is usually the first team member to arrive. The concept is to alleviate much of the paper work from the Realtors plate and allow him or her to do what they do best - list and sell real estate.

Some Realtors continue to grow their business and become more and more in demand. At this point a "Buyer's Agent" is added to the team so the Realtor can spend more time listing property. The concept is, the more listings you have to advertise, the more Buyers you will attract, this will lead to more sold signs which attracts more Sellers which gets you more listings which attracts more Buyers and so on. At this point the Realtor must add more staff which would include another Buyer's agent or two and perhaps another admin.

As the team begins to gel together, systems are put into place for absolutely everything. This ensures that the same results happen, predictably and consistently during each and every transaction.

The newest step in the evolution of the Real Estate Team is the addition of Listing Specialists, which if I had of known what a profoundly, positive impact they would have had on my business, I would have created these positions on my team long ago.

You see the people think that it's the Realtor that sells the house, but it's not. The house sells the house. Let's face it, there is nothing any other Realtor or myself can say to make someone buy a home. You either like it and buy it or you don't - It either suits your needs or it doesn't. Long gone are the days when Real Estate Agents went around slamming people into house before they knew what hit them. Those agents are almost all gone from the business. The new job of the Realtor is to get as many qualified buyers into the home as possible and service their client to death.

So really the job of the original Realtor on any Team is to generate leads which will eventually turn into listings and sales, it's that simple. We call that position on the Team, The Rainmaker".

With every aspect of the real estate job being covered by one or more people that specialize in that specific task, the Client experiences high quality service during each and every step of their transaction. Whether it be processing paperwork - Guiding a Buyer through the process - Helping a homeowner realize the most money from their sale by listing it at the right price the first time - Or creating new and interesting ways to establish quality relationships with higher numbers of Clients - The Real Estate Team is leading the way we Realtors, do business.

Till next month this is Rob Thompson saying, "Good Luck and Good Selling"!

Rob Thompson has been helping families make the right real estate decisions since 1985 and continues to do so with his team of professionals in the communities of the 416 and 31 corridors. Please contact Rob at 258-MAXX (6299) or email - rob@robthompson.ca

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