Technology allows more teams to form.


Written by David Friedman, president of Boston Logic


Humans have been forming teams (or tribes) since the beginning of recorded history. The advantages to working together are easy to understand and don’t need to be listed here.


The simplest illustration of this is for real estate professionals to ask the following: Of the 1.2 million members of the National Association of Realtors® (NAR), how many of them do you think are tough negotiators? All of them? Far fewer than that?


OK, then, if we agree that teams are more effective than going it alone, why is it that forming teams has only been a strong trend in the past few years? Why now? And, why hasn’t this always been the case?


The answer is technology. Technology has made the team an even more efficient operating model. Let’s look at a few examples.


A team often includes a staff that sits in one location while agents are meeting with clients, showing property, and closing deals. Communicating with admins has never been easier. Therefore, leveraging these teammates has become far easier. In other words, in part, mobile technology has propelled the trend.


Some CRMs provide for teams, even within larger brokerages. This opens the door to a myriad of features that make teams more productive. They are:


  1. Leads can be assigned to teams, rather than just one agent. This allows any teammate to market to and respond to a lead, speeding up lead follow-up and ensuring more consistent contact. By now, we all know that this translates into better conversion rates.


  1. Clients that are connected with different agents may be managed by one admin. That admin can make sure, even when the agents are busy, that the clients are touched on a regular basis with a newsletter, market report, or (gasp!) a phone call!


  1. One admin can execute a marketing campaign and team members benefit. The best CRMs empower staff to work on behalf of many agents at once. So, the marketing team can send a newsletter that appears to come from the agent, whom the lead knows and trusts. Alternatively, if the team’s brand is strong enough, marketing materials may, in fact, include the team’s name. Having both options in your CRM is best.


  1. Even transaction management systems now offer team functionality. A transaction coordinator can make things run a lot more smoothly. Large teams will have one dedicated member who knows how to push and pull paperwork electronically while the other team members are playing their specialized roles. The popular transaction management systems allow for one person to setup documents and then distribute to parties who need to execute.


With all of these tools at the disposal of the well-equipped brokerage and the teams within, it’s no wonder that agents are banding together. The benefits are just too good to pass up!


Written by David Friedman, president of Boston Logic