First let me debunk a myth. If you are on a team you DO NOT SHARE COMMISSIONS AND YOU DO NOT PAY THE TEAM LEADER; at least not on the McCaffrey Team. If I have your attention now I will discuss the benefits of a team and then I will get into the financial aspects.
I do not think that lone agents, especially newly licensed agents have a snowball chance in hell of being successful in this business. It may be your perception
that this is an easy career and that you just sit in your real estate office of choice and people just call on the phone. This is no longer the model. Clients are made through personal referrals and long term relationships. You are starting your own company. You need to determine your strategy, your business plan, your target market. You need to have both the knowledge of a Mentor and the emotional support of a team to survive. The average “lifespan” of a new agent is 10 months. The average Realtor in the business sells 3 homes a year. That might sound like a lot but after expenses, taxes, marketing it comes down to about $4000 per transaction.
Benefits of a TEAM-
You have a TEAM LEADER
Who is there to answer your “NEW AGENT” questions 24-7.
Who you can shadow to learn how to do a listing appointment or to negotiate
A building inspection.
Who will advise you on how to establish a database/ marketing plan.
Who will actually go with you on your first appointments.
Who will give you their leads from internet connections and open houses.
Who will find and provide learning opportunities.
Who will introduce you to all of their trusted resources and referral partners.
Who shares all of their years of knowledge and experience.
You will have a TEAM
Who fill in for you when you are double booked or have family obligations.
Who is going through similar growing pains and will give your emotional support.
Who will share their successes and mistakes.
Who will celebrate with you.
The TEAM Leader usually has a private office separate from the main franchise office. Our office is at 300 Federal Road in Brookfield and is fully operational with a heavy duty printer, supplies and internet. The way that the McCaffrey Professional Team works is that for the hours of training and mentoring Coldwell Banker pays me. NOTHING comes out of the agent side. You do not share your commissions with anyone…other than the IRS. I will share more about this at our upcoming informational meeting. The strategy of the company is that the agent on a team will be MUCH more productive and better trained than one who is not on a team. It is a concept and a model that franchises are encouraging.
We do NOT accept every newly licensed agent to our team. They must have the aptitude, be coachable and committed to the pursuit of excellence. We will be accepting a maximum of 4 new members to our team of 12. I will be holding an information meeting for new agents AND also for agents who have experience who are ready to rise to the next level. It will be Tuesday, Nov. 13th at 5:30 pm at my office. Please call Linda McCaffrey at 203 994-3666 for a small group discussion or call to schedule a private meeting.