Melissa and I had been in business about 5 years when we noticed a new trend in the way real estate agents were conducting their business. Many of the national trainers were supporting “MEGA TEAMS” as a more efficient way to do business and a better way to make money. We studied the systems they were using and looked at all the pluses and minuses to figure out what way we wanted to handle our business.
Mega Teams operate with a group of agents that all specialize in one area of the business. The listing agent (the star agent) works to lists homes to sell and generates leads for their buyer’s agents to work with. The buyer’s agents call, and email prospective buyer leads that may be calling about a listing. They try to develop a relationship with that buyer in hopes of helping that buyer find a home. There is a transaction coordinator who processes a transaction from the point it goers under contract right up to the closing day communicating with the seller on all the details. They line up inspections, follow the buyers financial progress, schedule the appraisal and let the seller know how the buyer is doing in each step along the way.They also have an administrative position that does many things in the office from answering phones, taking leads and distributing them to the agents, keeping up on all the marketing materials the agents will use and many more assigned duties.
Melissa and I had some serious discussions about becoming a Mega Team or staying a small 2 to 3-person team.The ultimate decision for me occurred over a period of a year.I had several listings that went under contract and during the inspection phase problems with the property were discovered.In one transaction a buyer couple asked for a new roof as the inspector said it was at the end of its useful life. The buyer’s quote was for $7,000 and my sellers thought the deal was going to fall through.I called my roofing contact and asked them to stop over and give an assessment on the roof. During his detailed inspection, he found the roof to be about 15 years old which meant it should last for another 5-8 years.We submitted his report to the new buyers and were able to move forward with the sale without having to install a new roof!
Another listing had inspections that showed the furnace had a crack in the fire wall and the buyers asked for a whole new system.I once again call in an expert.Our heating contractor came over to inspect the fire wall and after a quick inspection reported that the fire wall was designed that way!Apparently, its part of the design for that model furnace and was pieced together so it “looked” like it was cracked but it was functioning the way it was supposed to.He provided us a letter as well and that sale also went through and without a new furnace.
There were many more examples that year that reinforced my decision to stay a small team.I know without my direct involvement; those transactions would not have gone through or my sellers would have spent money on unnecessary repairs.I like to represent my clients the whole way through the process.If issues come up Melissa or I will be there to answer questions, give guidance and help find solutions.During a normal listing period I end up talking with our sellers 3-5 times a week, depending upon what is going on.During one of our last deals our seller called me just about every day!I had him on my speed dial and his smiling face would pop up every time he rang. And crazy as it sounds, I really liked talking to him!He had previously had his home listed on the market with a Mega Team and it did not sell.He is still on my speed dial and I still talk to him frequently– even after we sold his home!
Melissa and I have intentionally stayed small because we still think it’s important to know the people we are representing, and we feel they deserve to talk with us directly. We are the agents they hired to represent them, and they shouldn’t have to go through a transaction coordinator or team members with less experience. We frequently see Mega Teams looking to hire or to replace someone from their team that has moved on. I just celebrated my 21st year in real estate in April and I’m not moving on anytime soon! Melissa and I would love the opportunity to represent you and maybe you will be the next client on my speed dial! Enjoy Spring!