The world of real estate can be a challenge to navigate, especially for newcomers. The big question is, should you team up or go solo? This is a complex topic, so let’s dig in.
Why Join a Team?
Most people starting in real estate could benefit from joining a team. As a beginner, you’ll need to learn many things. Real estate involves a lot of subtleties that can be tough to grasp on your own. By joining a team, you can learn from experienced colleagues, which can be incredibly beneficial for your development.
Learning Like a Baby
Just like a baby learning to walk, starting in real estate can involve a lot of stumbling and falling. The real estate world can be harsh, and many ambitious new agents find this out the hard way.
Starting as an Assistant
One great way to enter the field is by working as an assistant. You can gain valuable experience by doing comparative market analysis and handling paperwork. This foundation can help when you decide to strike out on your own.
The Importance of Savings
Having savings is crucial when starting a career in real estate, whether you join a team or go solo. The beginning can be tough and some agents can go months without closing a deal. Having a financial safety net is crucial for success.
Drop the Ego
When choosing between a team or going solo, remember to leave your ego at the door. An inflated ego can do more harm than good in this business.
Picking the Right Team
Choosing the right team is just as important as choosing the right brokerage. It’s crucial to understand the team’s culture and see if it aligns with your goals. Be careful though, not all teams live up to their promises.
Don’t Just Look at the Splits
While commission splits are important, they shouldn’t be your only focus. You should also consider the team’s growth and development opportunities.
The Benefits of a Team
Joining a team can offer many advantages. You’ll be able to focus on your strengths, gain experience quickly, and enjoy the support of your colleagues. Plus, you’ll have backup in case you’re unable to work or need to take a vacation.
The Solo Route
On the flip side, you might be someone who thrives on independence. If you’re a natural leader, a quick learner, and good at balancing various tasks, you might prefer to go solo. However, keep in mind that starting solo can be tough. It requires a lot of determination and a good understanding of the business.
Listen to Your Experience, Not Your Ego
Don’t let your ego decide whether you should go solo or join a team. Remember, if you’re new, there’s a lot you don’t know. As you gain experience and build up your financial resources, you might find that going solo is the right choice for you. The best part about real estate is that you can change your path at any time.
A bonus article on picking a real estate team.
Have you picked your brokerage yet? Here’s our thoughts on that.