Recently in my own market in Northern Virginia and the Greater DC area, I have seen a potential issue come up that I believe will be hard for many agents to be congruent about. This has to do with solo agents trying to market themselves as a real estate team. The rise of real estate teams has been a dominant trend in real estate during the last several years. Teams offer a number of advantages ranging from having more developed systems, bigger market budgets and quicker advancement along the experience curve. Lately I have seen many solo agents respond to this trend by adding the word “group” or “team” after their name. There is a big difference between doing that and hiring people to help grow your business and deliver better service to your clients. I imagine when clients and prospects ask a solo agent who is pretending to be a team about his or her team; it is hard for that agent to speak congruently. In most cases this is probably going to lead to less business.
If you find yourself in this position my advice would be to pick a direction and commit to it. If you are a solo agent doing two or three transactions a month, or think you will be there soon, make your first hire. By doing so you will gain the following benefits: