This blog is excerpted from my ebook, What They Don’t Teach You in Pre-License School.
I wrote this eBook to save prospective agents and managers time during the interview/selecction process. Here’s an excerpt from the eBook, where I discuss teams–the good and the negatives–for new agents.
Joining a Team
As you interview, you may be invited to join an office team. That means you’ll be essentially working for a ‘rainmaker’, a lead agent who generates ‘leads’ for those on his team. Of course, those leads cost money, and the rainmaker takes about half the income from the team member for the lead generation and other services.
Teaming helps agents obtain leads as they start up business. While agents earn the most in commission dollars when they generate their leads themselves, a new agent may need to pay for someone else’s lead generation to begin to develop business. There is a downside to this approach, however. Agents can become complacent and sit and wait for leads. They won’t generate—until they get tired of paying for someone else’s leads.
Positives: You may be able to jump-start your career with leads given to you.
What to Watch For
Be careful to choose a rainmaker who really has enough good leads to distribute to you. Do some research before you ‘leap. Here are 6 areas to investigate:
- Sit in on her team meeting to see how she manages the team.
- Find out if and how the rainmaker will train you.
- Find out how much turnover there has been on the team.
- Find out whether you can sell and list houses outside the team—and how much the rainmaker would charge you if you did.
- Read the contract the rainmaker asks you to sign and be sure you understand the consequences of your involvement.
- Evaluate how good a leader that rainmaker is. Some rainmakers are great salespeople, but lousy leaders, and so their team never ‘jells’.
Generate your Own Leads, too?
Most team leaders ultimately expect their team members to generate their own leads, in addition to team leads. If you can’t meet the rainmaker’s expectations, you are terminated. Be willing and ready to take the responsibilities of team member seriously.
Are You Making the Best Business Decision for You?
If you’re interviewing , you’re getting lots of information–sometimes conflicting information. Check out my ebook, What They Don’t Teach You in Pre-License School.
You’ll get the straight scoop and make the best business decision for you.