There are pros 👍 and cons 👎 to every different business model in Real Estate.
I was an individual agent (with a full-time assistant) for my entire career. But a partnership or small, client-centered team can work wonderfully for both you and your clients, as well, so long as you have dependable systems and procedures.
The only Real Estate business model I really dislike is ‘The Big-Box Team,’ mainly due to their commonly-used, deceptive marketing tactics. 🤥
What they tell you: “Your home Sold GUARANTEED, or we’ll buy it!”
The truth: The “guarantee” is just a ploy to get their foot in the door, and then explain that either, a) your property doesn’t “qualify” for their program, or b) the “guaranteed” price is so low (after all the deductions) that nobody in their right mind would ever agree to it.
But hey! No worries! We’ll get ‘er sold, anyway! Sign here, please. 🖋️
What they tell you: “You’ll have a whole team of agents all working together to get your home sold!”
The truth: It’s highly unlikely that any other team member will ever even SEE the listing, let alone pay it any attention. They’re focused on other things (chasing down leads).
What they tell you: “We’re working with bazillions of buyers right now, and at least a few of them are going to want to see your home!”
The truth: IF by some fluke, one of the Buyer’s Agents does have a buyer; there is ZERO advantage to the seller because that buyer would want to see the listing ANYWAY, no matter which agent they were working with.
What they tell you: “We spend bazillions every month on marketing!”
The truth: Yes, but all that money has ZERO to do with getting your home sold, and EVERYTHING to do with promoting The Team to generate leads.
Not that there’s anything wrong with marketing to generate leads! Let’s just be honest about it.
I could continue, but you already know all this stuff. 😜
The question is, how do YOU, as an individual agent (or a small team), compete against these Big Box Team?
Tell. The. Truth.
Simply explain what you already know about all of the above, candidly, and without malice. That’s what I did. And you know what my clients would say?
“I thought so.”
They already instinctively knew that something wasn’t right with the Big Box Teams. Why?
Because smart people can smell deception a mile away. 🤥
Obviously, I do not believe that the Big-Box Team is the best option for the public when buying or selling. Furthermore, I think our regulatory bodies could do much better at monitoring deceptive marketing practices.
Luckily, I think the public is getting better informed, and more and more, they’re seeking out honest, skilled professionals who genuinely have their best interests at heart.
Let’s just continue telling the truth. It’s all we can do.
For newer agents considering joining a Big Team, or if you already have, and you’re now regretting it, here’s some further reading for you: The Team Option for New Agents.