It’s Frustrating – dealing with someone whom you did not hire in the first place to represent you as a real estate buyer or home seller.
I cannot tell you how much negative feedback I have received from those who were interviewing me to serve their real estate needs, about what they said were their personal experiences with other “teams” and “Top Producing Associates”.
BTW – Associates – is another word for “team”.
Some real estate agents tout on the embellished reality that you are better off hiring a team. I would throw a flag on that statement and say, “it depends”. If the team you are hiring is running like those who real estate clients despise, stay away.
Here are the Top 5 Reasons why real estate clients hate real estate teams and “insert name here – and associates…”
Points of Contact
Within a real estate team, you are going to have several titles corresponding to the team members. These are also known as Job Descriptions. Some are inflated above their actual duties. Such as CEO of the “blah blah real estate team” and “Prince of listing marketing – PLM”, etc..
Here are some of those which are more well known by the industry as being standard amongst real estate teams.
Listing Manager (listing to contract)
Transaction Coordinator (contract to closing)
Inside Sales Agent
Some real estate agents, when pitching real estate sellers, pitch other involved vendors, who are not 100% their employees, speaking as if they are. Some examples are the following.
Escrow officer and Escrow assistant
Title officer and title office support staff
Lending and real estate lenders
Termite and pest control personnel
As you can see – you don’t know who will be calling you next. When hiring a real estate team, if they are not operating like me – you will potentially be confused and stressed out more than need be.
Without daily updates and briefing within the team, and even with that, issues will arise and clients will feel additional stress. Stress that they don’t need or would not be subjected to if the team was run the correct way.
The correct way being the “one point of contact” team operation model. This is something that some have talked about, but we embraced from very beginning when we started forming a team to be a better advantage for our clients. The team philosophy should free the lead agent(s) to work for what their home sellers and real estate buyers want! The team should not have been formed to get the real estate agent more business, thereby causing them to put their current real estate clients on the back burner!
I have heard from some real estate clients that the agents they have worked with in the past were GREAT. However, when it came to those on the agent’s “team”, they fell short of who that real estate client hired.
Falling short is the potential reason why that “team member” is not the head Realtor and Person in Charge of the Real Estate Team.
Some want to be team members, not because they fail to be exceptional, but because they are more comfortable being the part of a real estate team. This is more the exception than the rule.
The right way to run a real estate team is having one point of contact. This will equate to the real estate team leader not being able to “close” as many real estate transactions during the year, but will equate to happier real estate sellers and homebuyers in the long run. Isn’t that what being in a service industry is all about?
Thinking outside of the box
A Top Realtor, one who is in the business of helping first, will have tons of experience, knowledge and information to share with you.
They will be able to answer the hard questions and keep you and your transaction afloat. If trouble arises, you can rest assured the person you hired is going to be on top of the obstacle figuring out the best way to proceed.
On a real estate team, as our clients stated about previous real estate dealings, they felt as if the person “handling” the issue was not prepared or as knowledgeable as they needed to be. They felt the agent they hired in the beginning would have been able to fix the issue, get them more net gain from the sale, and other associated benefits as a result. This negative feedback from interviewing clients in my offices could have been avoided if their previous agent would not have left their clients in the hands of a team member.
A better way is to put greed aside. To always be the one who is in communication with the client. If another party is going to reach out to the real estate client(s) who hired you, make sure they know who that will be and their position within the transaction.
Escrow is an example, you(the lead agent) needs to make the introduction, because your Realtor does not “do escrow”, it’s best letting that expert handle and field their craft. The negative feedback has been about “direct team members”, not “other service providers” which are within a real estate transaction.
No time and left behind
Some of the top complaints had to do with the real estate agent, who was hired, being too busy. Too busy to do the job they had been hired for in the first place. After getting the signed contract, they were never seen again by the real estate client.
When the clients called to get updates, find out what is happening and gather other updates, they had “one of their team members” contact them. For example the listing coordinator.
A real estate team leader, if they are going to build a real estate team has got to do it with the right frame of mind. Their business should always be about the real estate client first!
I’m Connor Macivor with REMAX of Santa Clarita. This are my thoughts about real estate teams via what I have heard from my real estate buyers and sellers past experiences.
The best way to operate a real estate team is by having a single point of contact, as stated. This how I operate my Santa Clarita real estate team. My team affords me to have more time to do the job my home sellers and real estate buyers hired me for! They are “operational” section behind the scenes. This works well for us and benefits our real estate clients more than the “traditional” real estate team concept which has a cousin named “GREED!”