Mark Menendez, Expert Sales & Marketing of Luxury Real Estate (Hawaii)

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Rainmaker
3,809,152
Richard Weeks
Dallas, TX
REALTOR®, Broker

I have only been on a team with a spouse.  I would think if one was going to be on a team everything should be spelled out in an agreement and signed by all parties.

Jan 12, 2018 08:33 AM
Rainmaker
2,600,762
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Team requires joint efforts and solo requires laser-focus...Results favor each

Jan 12, 2018 10:55 AM
Rainmaker
512,986
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I have had a number of "teams" within our brokerage.  The number one issue usually involves one team member believing they are sholdering more of the effort than the other and yet sharing proceeds with the other agent. This usually results in the team breaking up.

Jan 12, 2018 09:23 AM
Rainmaker
5,568,072
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I was always solo.... and when I decided to prepare for retirement, I formed a team.... never had more than 4 agents on it.... always top 5 in New England... now my daughter has taken over and I do the marketing....  my game plan worked well... 

always have a reason to form a team... prepare for semi-retirement early...it's a process.....

Jan 12, 2018 08:46 AM
Rainmaker
2,004,987
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I've been in a Team Format since 2004

Jan 12, 2018 11:27 AM
Ambassador
2,535,477
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   The big issue with real estate teams here in Florida is the new advertising rule / name rule that is coming down from the Florida Real Estate Commission.   Make certain that you are in compliance; or both you and your Broker may find yourself up the proverbial creek.

  

Jan 12, 2018 11:10 AM
Rainmaker
577,189
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

I have tried partnering with another agent on three occasions, the first one was when I was young and naieve and didn't have a contract and he stole $10,000 from me.. The second time, I ended up doing all the work so I ended that relationship and the third time I did all the work and I once again got stiffed on a portion of commission owed to me... So solo is the only way to go for me...

Jan 12, 2018 10:38 AM
Rainmaker
861,440
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I have not created or been the member of a team.

However, I find them scattered about the environment.

You seem to embrace, though not stated clearly, the idea a team should be a workforce MULTIPLIER, not simply additive.

My encounters with team creators and members reveal they pursue quality of life solutions NOT optimized revenue.

And the outcome is, they achieve neither.

Jan 12, 2018 08:50 AM
Rainer
5,605
Mark Menendez
Hawaii - Princeville, HI
Expert Sales & Marketing of Luxury Real Estate

So here is where we are...

 

A team can be a great advantage in real estate for many reasons, a few are:

- Take on much more business at one time

- Divide tasks to ones with those applicable strengths

- Can be a thinktank for creative and problem solving

- Can be a revenue multiplier

- Allows agents to take more personl time/ unplug without abondoning clients, deals and tasks

- Can foster growth for agents and the team

 

Like anything, it can be very challenging. I think the key to forming and operating in a successfull team is to:

- Manage expectaions, you can't go in thinking everything will go just as you hoped

- Clarify and articulate who will do what, how will revenue will be distributed and what strengths each has

- Write a plan for operation and growth, have an exit strategy and prepare yourself to cooperate with others and allow for errors. 

 

Having a successful team is as much about you as it is the team members, if you are not one to share/ delegate/ be tolerant or have patients then running solo may be much more gratifying and fruitful.

 

Thanks for sharing, Aloha.

 

 

Mark

Jan 13, 2018 09:51 AM
Rainmaker
1,672,678
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I was a member of a team for a short period of time and the concept is not for me. I now have a team of my own and it's working out fine.

Jan 13, 2018 09:30 AM
Rainmaker
290,569
Allie Angeloni
Long Realty - Oro Valley, AZ

I became a realtor to be part of a husband/wife Team Mark Menendez.  We did everything together from Listing Presentations to Open Houses to Previewing Homes.  After 2 years I had more direct client contact regarding e-mails and phone calls and doing Open Houses.  My 'Life as a Realtor' would have been quite different if I was not part of a husband/wife Team.  I would be doing everything on my own, and probably partner-up with another more experienced realtor (a single individual as opposed to a team of many).  I would do this for accountability and having someone that I knew and trusted to bounce situations off of.  I think of our niche as different, meaning not ordinary, and there are definite issues that one would not encounter working in communities or developments with families.  Still today, I have not done everything on a regular basis, on my own, because it is being done quicker and I'm assuming more efficiently, by my partner.  

Jan 13, 2018 09:06 AM
Rainmaker
4,799,256
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have been in partnerships and teams.  Having all items written down and a plan for an exit strategy should be available.

Jan 13, 2018 06:22 AM
Rainmaker
3,949,270
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I have never been a member of a teeam but have managed some well run ones. It takes a lot of commitment and trust.

Jan 13, 2018 04:44 AM
Rainmaker
1,707,191
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I am pretty well solo except with my wife as partner. As Groucho Marx said, any club that would have me as a member I don't want to belong to.

Jan 13, 2018 04:22 AM
Ambassador
2,984,950
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I tried the team thing a few times. I ended up doing 90% or more of the work and paying so lazy-butt 50%.  All the contract terms in the world are meaningless unless those that agree to them hold up their end of the agreement. 

Jan 12, 2018 05:03 PM
Rainmaker
477,131
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

I have not but other agents have asked me to come to their team.  I agree with everything has to be in writing.

Jan 12, 2018 02:40 PM
Rainmaker
1,508,951
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Yes, I liked to work in a team. The challenge: trust and precise distribution of who is responsible for what and all other terms. 

Jan 12, 2018 12:47 PM
Rainer
79,432
Steve Penner
Royal LePage / Moneyledgers Software - Winnipeg, MB
REALTOR / Owner of Moneyledgers

was on a team for a couple of years.. was the best thing I have ever done.  Imagine going on appointments and being mentored by one of the best agents in the business... and making it easy to take down time.  BUT, after a few years, you start to think, I'm giving up a lot of $$ per deal, and I no longer need all the mentoring... so why am I here?.. just find a good agent to take over when I have downtime.. keep more $$.. and be less busy still making same or more money.  Anyway, those were my thoughts... but most teams are not very good that I saw.. mine was a good one, but still to keep the team going is not easy.

Jan 12, 2018 12:10 PM
Rainmaker
1,438,827
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Mark Menendez I have never been part of a team, but if you decide to do so make sure everything is in writing up front.

Jan 12, 2018 10:58 AM
Rainmaker
1,644,781
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

The team thing never really worked for me.  My workaholic mentality didn't mesh with most people's work ethic so I chose to work on my own.  I did open my own office and have independent agents, though.

Jan 12, 2018 10:50 AM
Rainmaker
1,231,318
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

 Never part of a team as I prefer being my own boss under the broker.

You are wise to investigate the pros and cons.  Good luck.

Jan 12, 2018 10:10 AM
Rainmaker
3,069,384
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Team. Hands down.

Jan 13, 2018 05:08 AM
Ambassador
4,311,746
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Mark Menendez - TEAM should be the way to go.

I have tried to build a team. Now will do it again.

Jan 12, 2018 09:45 PM
Ambassador
5,140,828
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Just my team, expanding again this year.

Jan 12, 2018 09:08 PM
Rainmaker
708,811
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

I manage a team. It's a big subject matter...

Jan 12, 2018 08:03 PM
Rainmaker
1,525,199
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I prefer to work independently, I was offerred to be partners with another agent my first year but flet like it was not a good fit and I was right.

Jan 12, 2018 07:30 PM
Ambassador
3,013,882
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I'm a small brokerage with agents with specialties that function to help our clients much like a team... some agents list, some do new construction, some do land and lots... but we're a brokerage without calling ourselves a team and each agent gets their own credit, but when a client needs speciality service we're ready for that niche.

Jan 12, 2018 01:35 PM
Rainmaker
1,595,715
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Team. 

I am with my Mom.

Merry Christmas to All!!

And a Very Happy New Year!!!

Dec 22, 2018 08:13 PM
Rainmaker
2,060,605
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

I am solo and I am a team (always cover my daugher-agent.).  

Dec 22, 2018 07:02 PM
Ambassador
4,024,705
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Great question, Mark! I've been on a team and hated it and been a sole practitioner and then needed help during the recession so, I hired a couple of assistants. One of them is an investor and quite skilled at it so he now helps me with all of my investor clients.

The other one is my 'main' assistant, who does everything from catering to to documentation management!

I've since hired two more, both have their own job responsibilities - one helps me behind the scenes with all listings and taking care of online leads for me. The other helps with 'team functions' as well as taking a buyer out here and there during the busy season, if I'm out with buyers. 

My 'team' is a very different one - we work as one and they free me up to be the one with my clients and I love it that way! They handle the minutiae and they do it well. I'm very blessed to be surrounded by highly ethical, positive people and we've been together for years.

All are licensed now and all love the way they work. None of them crave solo practice but, if one day they did, I would coach them to success and give them my blessings - as I have two other assistants in the past. 

As for a 'normal' team - one that has listing agents and buyers agents, I would, by all means, have a 'divorce agreement' in place before they take on their first buyer or seller. This protects you and them and makes the break a much easier one.

Good luck in whatever you decide to do!

Jan 13, 2018 08:24 PM
Rainer
187,002
Raj Taj
RE/MAX - Lake Bluff, IL
Drive By Blessings!

Hope Solo, I've seen her nastiness, disgusting.

Jan 13, 2018 03:27 PM
Ambassador
3,986,418
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have created teams and am now solo and have been for years.  It worked well for the time. Now I just partner as I need to.

Jan 12, 2018 04:56 PM
Rainmaker
6,280,539
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I have done all of the above. Do what is most productive for you.

It is good to have team members or associates available when you have multiple prospects looking at homes at the same time.

Jan 12, 2018 12:49 PM
Rainmaker
4,658,868
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have seen quite a few create a team, then it disolves.   One thinks they do more than the other.  I will stay solo.

Jan 16, 2018 06:17 AM
Rainmaker
3,758,381
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Have team twice with different people,  pros and cons, have everything in writin is all I will say!

 

Jan 14, 2018 10:16 AM
Rainmaker
3,985,765
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Ihave never been part of a team, I have seen issues with teams and I just prefer to fly solo

Jan 13, 2018 05:43 PM
Rainmaker
1,352,888
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No teams here.

Jan 13, 2018 12:32 PM
Rainmaker
4,433,483
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Jan 13, 2018 07:25 AM
Rainmaker
3,827,969
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I shut down my team in 2010. I prefer to be a single practitioner... and I don't typically love working with a person on a team on a transaction... no one seems to truly "own" much of the work once it's in contract.

Jan 13, 2018 05:50 AM