Why Real Estate Teams DON'T Work and What to do Differently
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- čas přidán 5. 07. 2021
- In this video, I'll explain why the traditional real estate team model does not work long term and how to build a team the right way that keeps you profitable. Subscribe for more real estate coaching videos: bit.ly/3aFRiCt
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▶ ABOUT BRANDON MULRENIN
Brandon is a real estate broker in Michigan and is the CEO of Brookstone Realtors. Real estate coaching is Brandon’s passion. He teaches real estate agents at his company and around the country how to get listings using his reverse selling lead generation system. His mission is to teach real estate agents how to sell without being salesy, he calls it reverse selling.
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I run a team and a lot of what you said is true, however in your model you are missing the biggest point. You will forever stay in production and your business relies on you to continue to produce and sell homes yourself. What if you get sick. What if you need to take an extended vacation? I think anyone who chooses to build a team like you described in the beginning is because they want to exit production and have a business that runs without them or that doesn’t solely rely on them. You get your nights and weekends back.
But the reality is that either model is hard. They both require a lot of effort. And they both have their pros and cons. They are just very different. I would maybe do a hybrid of the two.
I was on the team, They gave me 0 leads. They made over 65% of my commission. Learned as much as I could and left after 6 months.
Best decision I have ever made!
What did you learn if they weren't giving you any leads?
Or, you can be a single agent and close 100 deals a year without buying leads and have zero expenses
Or you find out if the chicken or the egg came first
Papa bear 🐻
Mailers aren’t an expense?
@@juliancolvard5742 I don't do mailers
@@RickyCarruth I saw you say you send out mailers on your CZcams video. 😐
I just commented on the exact video.
Exactly why I’m with eXp and generating my leads organically with CZcams
This is amazing!! Clear pathway to transition to the next level.
Enjoyed this video a great deal, Brandon. Thank you 😀
This is exactly what I needed.
Excellent coaching…as always!
I’m on the baby step #2. Full time tc per transaction and salaried admin, and 2 team agents.
Great video! Love the numbers breakdown, makes so much sense. I do have a question.. with your buyers agent, if they procure a buyer for one or your listings, how do you handle that process? Who does the negotiations? I’m sure this could get quite “sticky” if not handled the right way. This has been a challenge on the team I’m on if/when our team lead has a listing and we have a buyer, and can get sort of “awkward” when the transaction get difficult in the negotiations. Would be great to learn how you handle that situation etc the goal of a smooth transaction and a win win for both sides including agents.
Thanks again for your phenomenal content that has continued to pour out so much value over the years
This is so excellent!!!
So very informative! ❤ I’d like to learn more about your coaching.
Very helpful video. Thank you
Started out thinking this was going to be a bummer of a video. Nope! Glad I watched it. Great video! Thank you!
Glad you got value!
I got a lot of value. As a new agent, thank you
Thank you for this…
I think you should make videos 2-5 minutes talking about small tips. People are likely to reach you. Love your content Brandon❤️
Very good video Brandon💪🏻 I’m building out this model now and this have me a lot of clarity. Any advice on running a team model in multiple markets not just in your backyard?
This is absolute GOLD!!!
GOLD IS A UNDER STATEMENT!!! PLATINUM COACHING ON THE HIGHEST LEVEL!
I like the fresh advice.
Thank you! What you described is my brokerage, I call it a zillow flex brokerage. Not 1 training on how to produce seller leads.
Great video Brandon! Question - what do you do for open houses when you get too busy as the Listing Agent? Do you outsource the open houses in some way?
Brilliant!
Great content Brandon! I have a question. What would be an appropriate commission split with a team. How much of my commission should I give to the team leader?
Depends on what you get in return. What's being offered?
Great Video Brandon! Where do you generate the lists for the ISA to make his/her calls? Sounds ambitious for them to get a listing appt a day?
Vulcan 7, The share group, remine. Links in the description.
"GO GET LISTINGS !" lol i love it
Is it possible to have thé job description by employee plz
Hey Brandon, thanks for all your content. I currently have a transaction coordinator and I’m not sure if the next step for me is to hire a part-time assistant or get the showing partner. How do you decide which one of those two to do first? Pros and cons of each?
I’ll make a video on this but if you’re still doing a lot of admin work in your business, you should get the admin first 100%.
@@BrandonMulrenin thanks Brandon! I can’t wait to see it and share it
Sound is only on the right side, plz fix :)
Good information. However, you are talking about a team. Not a brokerage and I do not see what the team leader would be paying out of the bottom line to the broker/brokerage????
As a new agent it didn’t take me long to spot that.
Please don’t ‘groom’ an independent TC unless they express that they’re actually interested in becoming an employee. We start our own businesses for the same reason agents and other entrepreneurs do. Hold interviews like a business owner.
This comment is eye-opening
Do you have your own TC business? I’d love to hear about it
Does anyone know how one hires a buyers agent to work under them when you're employed by a brokerage? Wouldn't that perspective employee have to also be hired by your brokerage? And would i need a brokers license otherwise, thanks 🙏
Get another agent from your brokerage who cant generate their own leads.
Can you put all of these into your podcast please ?
Yes 👍🏻
Bro; where were you when I started my team ?
MREA
Very good. For a brand new Agent would you suggest joining a team? I'd rather be solo and be the physician :D Also what do you think about sales trainer Tom Hopkins? he teaches a lot of the same stuff but he is a lot more old school. Seems the fundamentals are the same.
Why not sign up for Brandon’s training? You’re on this page because it makes sense, pick one coach and do that for 24 months.
Joining a team?? That’s a one on one question. Every agent is different
@@Team-Zimmer Id love to train with Brandon, but being a brand new Agent and all I don't believe I could afford it!
@@jarredvaughn9634 you can’t afford NOT to work with him. They have plans for everyone, don’t assume you can’t until you ask brother
@@jarredvaughn9634 add me on FB and send me a message, I’d love to help you
Terrible margins. It seems like the only logical way to scale is building a large brokerage that runs on low fees to agents for retention and low fixed expenses for the broker by avoiding lead buying.
Is this Your home sold guarantee realty ? They offer $100k first year by 50/50 split.
audioo doesnt work for me :(
So I’m just getting into real estate so should I join a team or try it solo
Join a team
Did I inspire this question? lol
What's the 140k in expenses again?
Most likely office rental, marketing & ads, E/O insurance, branding materials, etc.
Does the 4 person team have an office?
100%
Should be in brokerage space
You don’t need one anymore 🤟
I’m this model, how do you retire? Most people building teams want to get out of the f production so they can enjoy their leveraged time.
How long have you had your team and how old are you? Retirement looks the same as any other career, make as much money as you can, have a plan to invest and save for retirement. The great news is that as real estate agents, we qualify to have SEP IRAs which allows us to invest $58,500 a year!
@@BrandonMulrenin I’m 41. No team yet.
How do you build this though when you are 50/50 listing/buyers agent and doing about 30 transactions yourself. If your not at the level of 100 transactions a year how do you hire the exec assistant etc?
Start with hiring a freelance Transaction Coordinator for about $300-$500 per deal. Save as much as you can and work your leads. Once you have generated enough, you can then transition them into a salaried EA, with the proper system and training in place. Hope that helps! I consult agents. Here if you need more info. :)
If you’re doing 30 transactions a year, you’re making well over six figures, that’s more than enough to hire an assistant
1:15 sounds like EXP realty 😹. - coming from an Exp agent.
I must be missing something, that is not the type of team model I envisioned?
Curious, What did you have in mind?
Wow Realty estate agents are in competition?.. interesting
I believe this is the system mentioned in the millionaire real estate agent by Gary Keller, correct?
I have the book, I have yet to get to that section. Which chapter is it in?
It was more clear in 11minutes than in 11 hours of the book ^^
💯🙌🏼
The audio is a bit off, get a lapel.
"They don't want to have to work selling themselves."
#BryanCasella
Being a broker don’t work cause your not making money from the agents and carrying all the expenses
Where are all these 250,000 dollar homes
I did not like being in a team because your success is at the mercy of the leader basically if he or she likes you he will help you and gives you leads if not you are screwed if you complain to your broker about it he will block your success and will only help the ones that kiss their ass
ugliest tie in the history of real estate :)
Thanks for the feedback.
seriously, thegeek4god?