Real Estate Trends: It’s All About the Team
Author: David Carroll, Tracy Dayton, and Kitty Bartell
It’s hard not to notice how Real Estate is fast becoming a “team” sport. While certainly not new, the teaming, or partnering, or work sharing concept is becoming the rule or the norm, rather than the exception. The benefits of this trend are plentiful; each member or partner adds his or her experience, energy, expertise, motivation, perspective and individual way of thinking to the collective. As a profession, real estate changes fast, is tightly regulated, and is highly scrutinized. And as the ever-quickening pace shows no sign of abating, it is a line of work that is becoming increasingly well-suited to a team approach.
Further, as Gen Y bumped the Baby Boomers off the top spot for most home buying in 2016, Realtors, who operated successfully as independent agents for years, are finding the road to keeping on top of their game and ahead of the curve involves forming or joining a real estate team to meet their clients’ quickened pace and growing expectations.
Teaming up has been trending in real estate for a number of years, and for good reason. In a profession where experience and longevity hold a lot of street cred, seasoned agents are finding that demands on their time are changing the nature of their business, primarily by the requisite feed-me personality of the Internet and social media. Where once a single agent could do it all, today the near necessity of forming a team offers a greater depth of resources and allows the team to provide the level of service and laser-focused attention to detail that is becoming less feasible as a single agent.
Through this sharing, we find and build on our strengths, as well as fortify any weaknesses. Consumers gain a competitive advantage with more exposure and more ideas. Once in motion, rather than doubling or tripling, the collective grows exponentially. There is an innate understanding of this in the public realm: more eyes to see, more ears to listen, and more hands to do the work, all benefitting the client.
Growth is the beneficial byproduct of real estate team formation. The team itself, and the individual agents on the team grow in several directions. Teams generate a greater number of real estate closings, simply by supporting each other. When done right, listing clients see the entire team focused on presenting their property in the best possible light and getting that property sold; buying clients will find that all those eyes on the lookout provide greater options, getting them in the property that best suits their needs.
As more teams are formed, the real estate industry gains strength as well. Creating a real-world opportunity for newer agents to benefit by “apprenticing” in the industry helps bring along fresh agents who will become the future of real estate. There is also the inherent benefit of a newer generation of agents, typically more adept at operating in the world of the Internet and social media. The newer agents benefit by getting a foothold in their chosen career, and the veteran agents absorb the newer model of how business is trending today.
Just as important, or perhaps of even greater importance, are the actual individuals who make up the team or partnership. While there is no “I” in team, strong and committed individuals with excellent leadership skills are the backbone, or lifeline of this endeavor. Through this leadership, combined with serious experience, young or new Realtors who have an honest desire to help people with their real estate needs are given a fantastic opportunity. The willingness to work as partners or as a team characterizes the environment in which they work. While the real estate business is unique, where Realtors compete against each other, and at the same time work with each other, this trend creates a mood within the team or partnership that eliminates the angst of competition. Everybody is genuinely interested in everybody’s success, creating a win-win all around.
It is a privilege to assist people with one of the most important decisions in their lives. Building a partnership allows us all to get better and better at that one thing. It’s exciting!
With 30 years of Hilton Head Island and Lowcountry real estate experience, and helping hundreds of people and families, David Carroll joined forces with real estate veteran Tracy Dayton in 2016 to form the Carroll & Dayton/Charter One Realty partnership. In January 2017, Carroll & Dayton grew the partnership and their resources to include David’s wife Beth Carroll and Kitty Bartell. Both Realtors bringing fresh experience, eyes, and enthusiasm to the group’s efforts.
For more information, please visit HiltonHeadHomeSource.com or call (843) 384-8111.