Side’s Guy Gal on trends in the team business model

Today’s RealTrending features Side Real Estate co-founder Guy Gal. Side is expanding quickly despite the market headwinds.

Gal discusses the future of teams, how team business models are changing, the trends he’s seeing with boutique models and what his company is doing to move the industry forward.

Here is a small preview of today’s interview with Guy. The transcript below has been lightly edited for length and clarity:

Tracey Velt: You said you have a lot of data around the teams that you serve. What are you seeing as far as some of the trends over the past year?

Guy Gal: When you deal in the scale that we do you’ll see some broad themes, but there’s also going to be a great deal of variance. And that’s because it’s different markets. There are some markets in which you, as a team leader, and as a boutique company owner, have to be more cost-conscious because maybe the price point is lower, the contraction is deeper, whatever the case may be. You’re gonna have to take a different approach to that.

Whether smaller or larger teams, they’re all producing at a very high level, even with the market contraction. They’re over-indexing the contraction. And that makes sense because if you think about it nationally, on any given year, 60 to 70% of deals are done by part-timers. A lot of those folks come out of the industry in times like this and are no longer producing. Houses don’t sell themselves. Even though the market is contracting, there are less agents that are in the game. And the ones that are in the game are the full-timers. And so they tend to over-index even though the market is contracting. They’re incredibly growth-minded.

RealTrending features the brightest minds in real estate. Twice a month, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.