Traditional Solo Realtor Vs. Team of Realtors
By Emilio DiSpirito February 28, 2018
Real Estate Home Listing FAQs
Weekly, customers come to us at the DiSpirito Team and ask us, what is the difference between a real estate team and an individual agent? Is there an unbiased place to get information to their real estate questions about whom to hire on the web?Recently, one of our clients reached out and and shared that he does not believe there is such a place to find equitable content for homeowners on which is the best way to sell his home.
"I've searched the internet for hours upon hours not finding anything relevant to my questions. You will find nuggets of information scattered here and there, but there has not been one reliable resource online that has answered any of my questions such as, when selling my home, which type of agent and service will truly earn me the most? Will selling my home for sale by owner vs using a Realtor or a Team of Realtors net me more? How about a discount brokerage vs. a traditional Realtor or Team? Not anywhere is there such information and it's frustrating to say the least.. can you point me in any direction?"
This article is our effort to assist homeowners in getting a straightforward, "non-salesy" approach to questions that our clients and many other consumers have.
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Traditional Solo Realtor Pros and Cons
Pros of using a Traditional Solo Realtor
- One call does it all: One phone call will get you to the direct source of where the information you need lives.
- Personal touch: Some people want to see and talk with only one person. This is for the client who feels most comfortable dealing with one individual.
- Accountability: You will know exactly who to speak with about any concerns.
Cons of using a Traditional Solo Realtor
- Limited Availability: Realtors cannot make a living on only one transaction and need to constantly be prospecting as well as working with multiple buyers and sellers. When a solo agent is performing these other tasks, often times, her availability is scarcely low to assist all of her clients in a reasonable time.
- Juggling Act: When a solo agent takes a vacation or a day off or is simply working with other clients, there is not anyone to respond to showing requests, client needs or to assist with marketing.
- Limited Resources: Individual agents are self-employed and cover the costs of all of the marketing materials which are often times overlooked due to lack of availability of funds and time to do it all.
- Inaccuracies in Paperwork: Realtors often times are fantastic sales people, however, are not the greatest at paperwork. Paperwork should be prepared with care and vital dates should be met. The details in this step could be the difference between winning or losing a boatload of money at any given point of the transaction.
- Lock Box Showings: With other listings and buyers to tend to, a solo agent will depend on other Realtors, not associated with their company and unaware of your properties features and benefits, bring their clients in. When questions to simple answers are not taken care of on the spot, this could lead to objections which could cost the sale.
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Realtor Team Pros and Cons
Pros of using a Team of Realtors
- 24/7 and 365 Availability: A team of agents allows for a homeowner to get someone on the phone who knows the file at any time of day.
- Efficient and Effective Systems: A well-organized team of Realtors will have systems in place to ensure effective measures are taken to protect the sellers best interest at all times. There is someone responsible for each individual step from marketing, to showings, paperwork and other vital facilitating tasks.
- Accurate Paperwork: Teams have administrative support who work full time to prepare and maintain all paperwork while sales agents are allowed to focus on selling their listings.
- Specialize: A team will have agents who specialize in working with buyers and agents who specialize in listing homes. Working with a Realtor with experience and who specifies in listing homes for sale will allow them to assist you in finding the right buyer.
- Advanced Marketing: Teams operate as a collaboration of agents, who pool their money together to offer a stronger presence for sellers online. Often times a team will invest hundreds of additional dollars in professional photos, website development, social media and other aggressive marketing channels.
- Teams Have More Buyers: Teams will have more buyers than an individual agent and will also have agents who focus specifically on bringing buyers into the teams listings.
- Personalized Home Showings: Often times, real estate teams will have a "showing agent" or "servicing agent" who is responsible for bringing buyers and agents through the home. This is a much safer approach than lock boxes, as your property is looked after and someone is there answering questions and clearing objections, often times leading to less days on market and a higher sale price. Negotiations start upon entrance.
- Stronger Negotiations: A team of Realtors will often times have two points of contact for the buyers agent to connect with. This allows for the classic "good cop, bad cop" approach when it comes to negotiations and will often times put the sellers at a stronger stance when negotiating offers in their own favor.
Cons of using a Team of Realtors
- New Team? If the team is new, there may be many kinks to work out and these sometimes can affect the level of personal service and overall outcome.
- No Systems in Place: A team of individuals without a core set of values, standards and systems can be just as disastrous as hiring a solo Realtor who chases his or her tail. Systems are vital and make sure you can get a good idea of what the teams offer under all the "fluff" that you interview.
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