In last month’s story, “Fact or Fiction? How to Choose the Right Agent,” we explained that the brokerage your agent is affiliated with shouldn’t be a major factor in choosing the agent to list your home with. Instead, the agents abilities to properly price, market, procure the correct buyer, negotiate offers and ensure all contractual obligations are completed on time are the factors you should focus on. We went on to explain that the internet has completely changed the real estate industry, causing agents to be more independent.
As you know, gone are the days of a printed Multiple Listing Service, forcing buyers to call or physically walk into a brokerage to speak to an agent about homes that are available. These “walk/call-ins” are no longer counted on by agents for their business. The internet has allowed agents to economically create their own brand and direct traffic to their own websites, thereby creating opportunities to connect with buyers and sellers that were once before more dependent on the broker they worked with. It’s created a more autonomous Realtor.
The Realtors who resisted this change are no longer. The one’s who embraced the internet and learned to use it to provide both buyers and sellers with exceptional tools, service and exposure flourished, growing exponentially. Instead of only calling on their sphere of influence, cold calling or waiting for a walk/call-in, Realtors are creating their own virtual traffic to their websites. Buyers get detailed, real time information, on properties they have interest in and sellers get their home exposed to hundreds of thousands of buyers. In our experience, and in most cases, the sheer volume of business Realtors who harnessed the internet to provide amazing service to their clients is what spurned the concept of the Team. The demand for the services of these Realtors grew so fast that, to ensure the quality of service, Realtors began hiring specialized employees to handle each real estate discipline. Thus, the “Team” was born.
Because buyers and sellers are no longer calling into brokerages for information, the role of the broker has also evolved. Like the agents who were faced with the ever changing real estate landscape, brokers who didn’t embrace and incorporate the internet into their business model found themselves playing catch-up. Keller Williams was one of the first to introduce the concept of teams working within the real estate industry. The reasoning behind this is based on placing the interest of their Realtors and Realtor’s clients above all else. It’s important to note that although a Brokers tangible contribution is probably not felt by homeowners, brokers like Keller Williams who have evolved with the industry and provide their agents with amazing technology, training, and culture, afford their agents a significant competitive advantage in the market.
This team model is explained in detail by the Jelmberg Team in their article “What comprises a Real Estate Team?” This article explains the advantages of an effective team in every aspect of a real estate deal including, legal, marketing, procurement and servicing.