This is for agents working on a team, but team leaders will find it useful, too. So, continue reading …
As a team agent you can easily make more than $100,000 a year, but only if you work on a REAL Team.
You may get less than 50% of commissions, but the splits are not important. Your bottom line is.
Are You Working on a “REAL” Team?
On a REAL Team the team leader is the CEO. You are working for the team leader, and you are required to …
- show up every day
- make prospecting calls every day
- be accountable for leads provided to you
- commit to a minimum production goal
- practice scripts at least once a week
- work for the team and not your own pocket
- attend regular team training
On a REAL Team all team members work towards a joint goal: to create more sales, more revenue, and more profit for the team.
Everybody wins when the team is doing well.
Why 50:50 Splits Don’t Work
Most agents are concerned about commission splits. They believe that lower expenses will lead to more income.
That’s not true.
It’s better to have a small piece of a large pie than a big piece of a tiny one.
On a REAL Team you get a small piece of a very large pie.
Your team pays for marketing, advertising, assistants, lead gen websites, postcards, online marketing, social media, signs, dotloop, and office space. The team’s overhead can easily cost between 30% and 50% of all commissions.
That’s why paying 50% to team members is not sustainable.
Your team leader wouldn’t be profitable. He or she could make more money working as a solo agent.
What’s Your Team Leader Doing for You?
Teams are a blessing for agents who don’t know how to generate new business and don’t prospect consistently. These agents are easily recruited by “wannabe” team leaders.
Unfortunately, these “team leaders” don’t provide any supervision, no training, no support, and no accountability. Every now and then they will give you an overflow lead of a buyer who can’t afford more than $60,000.
Are you on such a NOT-SO-REAL team?
You would make more money working as a solo agent for a boutique brokerage that really cares about you and helps you build your business.
Think about it! Do you make more than $100K working for a REAL Team or are you stuck with a team leader who’s all talk and no action.
If you are on a team that does not add value to your business and money to your bottom line, click here to schedule a free consultation.