BREAKING NEWS – There is an “I” in Team

by Tim Herriage

BREAKING NEWS – There is an “I” in Team

by Tim Herriage

by Tim Herriage

This “I” applies to a team of agents that works “Investment” real estate for clients, the team and those in the team that are investing for their own account. The “I” is in the value of collectively serving individuals and investors.
TEAM ASSOCIATION
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Buyers, sellers, professional real estate agents and investors should care about the team trend in real estate services. The benefits of many specialists versus sole agents are many and effect buyers, sellers, agents and investors positively. Then compound based on many heads being better than one to address your specific needs and complex steps encountered in a house sale or purchase. Investment real estate team makes more sense with the complexity of an investment transaction.
THE TEAM
When you speak in terms of “a team,” the notion of a sports team comes to mind. Just as there are various roles and positions being played as needed based on the state of play, offense or defense, special teams for special circumstances, the real estate investment team is similar, with one major difference of serving the client and their multiple goals versus simply winning.
REAL ESTATE AGENT – YOUR MOM’S PART TIME JOB NO MORE!
The real estate sales role has changed dramatically brought about by new regulations, new technology and processes. The solution is associating with others that have knowledge, skills and experience that allow individuals to leverage each member for the whole and the client.
Experienced real estate leaders have answered by assembling teams of experts and assistants to streamline the process. These leaders orchestrate the generation of leads (homes sellers, buyers or investors,) marketing, qualification and engagement of these clients, finding, funding and negotiating a sale and successful close requires experienced hands-on management. This applies equally to a home sale to homeowner or SFR investor so as to generate the best outcome for seller, buyer and all team members. Today a solo agent managing a home purchase or sales campaign against a team approach is at a serious disadvantage, given the options and required disciplines solved by a team of experts, increased transaction volumes and economies of scale.
FOR AGENTS
Quoting industry statistics, Eric Luneborg, team leader at Investable Realty says, “Eighty percent of new agents without specific support leave the business within three years. Of the remaining agents that stick around, 20% of these have changed brokerage allegiance within these same three years. This is because brokerages provide little training or mentoring hoping for the new agent to be that “one-in-a-million” who finds their way to being a real estate sales star.
“This is not particularly healthy,” says Luneborg, “but it is completely understandable.   Agent training is more about avoiding trouble than building a real estate business, assuming an agent will be attracted to a big brand. Look beyond the brand to teams,” says Luneborg. “If a newly minted agent is attracted to investors and selling rental properties, going to a retail brokerage that is primarily focused on selling to retail homeowners, there will inevitably be frustration with a brand or manager who is not focused at investments. This stunts real lead generation, advice or practical support serving the investors. If you want to serve investors, go where investors are served best.”
Luneborg operates a team inside Investable Realty, a real estate brokerage that specializes in assisting investors find, buy or sell single properties or portfolios of rentals. Luneborg leads a team of individuals that offer expertise in most facets of the investment transaction. Investable Realty is seeking agents to serve investors.
FOR INVESTORS
Is the investor a seller or a buyer? What is the goal of the immediate transaction(s?)? What client or property analysis skills are needed and what advice should follow? Once qualified as a buyer (or property as a sales opportunity,) what sort of finance advice may be needed, the search, the qualification of opportunities, the offer, negotiation, any financing help and close? Each step is a serious discipline requiring knowledge, skill and experience to serve a serious investor. With a leader coaching the team through the engagement, advising on the appropriate resources to achieve the best outcome for all involved is win for the client and the agent. With some exceptional circumstances, the individual agent is at a serious disadvantage, and most likely so is the client.
FOR THE AGENT WANTING TO BE AN INVESTOR
For an agent being successful serving investors, the logical extension is to become an investor also. A investment team leader can help an agent serve clients as well as use their professional skills to go beyond just earning an income to investing some of this in a real estate ownership business for the longer term. A team leader in a front line investment sales team is more often than not an investor too, that takes great pride in building a successful team that serve investment customers, but also fulfills team member income and wealth generation goals.
If you are interested in being part of such a team contact Eric Luneborg – eric@investablerealty.com – 214-335-1889

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