Real Estate Teams: A Solution to the ‘Summer Slump’

By Anthony Mann, Contributor - Posted on
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Summertime is an interesting time for real estate. Many agents refer to the time directly before the summer start as the “selling season” and year over year, this time of year tends to be one of the most profitable for those agents who fully embrace spring and watch their summer numbers fall off slightly.

Is there really a selling season?

Well, yes and no. Do many people transact real estate (or at least put their homes on the market) during the spring time?

Yes, year over year we do see an uptick in this activity. However, what is interesting is why “summer” tends to be a time in most agents years when things slow down.

As with any business, cycles happen and it can be expected that cycles in real estate happen as well. But why do these cycles tend to happen? Well, it comes down to the way most agents set up their businesses. You see, over the past few years we have seen an uptick in agents and brokers signing on “teams.” What this has translated to is the sheer fact that it allows agents to continue to do business 52 weeks a year, without having to work ‘in’ their business, but instead work ‘on’ it.

How have teams changed the game?

Real estate teams have allowed those individuals to surround themselves with people who work the same systems they do, and delegate important and specific tasks to getting done. For team leaders? This has translated into them having more time to do what they want to do, like vacation, spend time with family, and in the long term actually generate more commission dollars by setting up their teams to do much of the heavy lifting.

By team leaders leveraging other people’s time, this has meant that for many agents the “summer slump” never actually happens. But, it also means that individuals on the team are able to go ahead and do the things they want to during the summer, without it overly affecting their bottom line.

What do teams do differently? 

Real estate teams are set up in a way that allows the individual members of that team to focus on individual tasks. This means for instance, if a buyers agent gets a call about a listing, typically they would hand that to the listing agent on their team. If a listing agent got a call about a buyer, then they would typically hand that over to the buyers agent. 

Typically, teams also consist of Inside Sales Agents (those that field phone calls and make calls from leads that come in), transaction coordinators (the people who handle the setting up of inspections, appraisals, paperwork necessary, and anything that may be paperwork or vendor driven), and a rain maker.

The rain makers’ job is to “bring in the rain” as they say. This means they are the “face” of the team. The person who everyone around town knows, that goes to all the networking events, that meets all the vendors that can help expand their network. This is the person that, in a sense, makes it all happen. Teams are generally built around this rain maker, and everyone on that team is then responsible to help this person conduct more business. 

If you want to start a real estate team, what should you do first?

Well, first and foremost, make sure you have more business coming in than you can currently handle. If you find yourself wanting more time with the family, friends, vacations, or just maybe a day or two off a week, but simply can’t because the time for you to do so isn’t available, then it’s probably time to at least START thinking about building a team.

Making sure you hire the right real estate team member first, is always a good place to start as well. You may find a need for a transaction coordinator or a buyers agent before any other type of team member. But each and every person’s business will be different. Talk to colleagues about what they did first, and some of the things they wish they did differently before starting their very own team.

I’ve always said that learning from other people’s mistakes is the best way to avoid wasting any time or money in the short term, and ensuring that you get your best foot forward as quickly as possible.

Is building a real estate team something you have in your future? Let us know down in the comments below! If you already have a team, let us know how long it’s been, and how your life has changed since starting it!

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Anthony Mann
Anthony Mann, has been in real estate industry for over 12 years, getting his start in the worst market the US has seen in nearly 100 years. During his tenure as an agent, he sold more than 1000 REO and short sale properties in Long Island, NY. He was able to get into a niche field within the industry, where there are less than 15 active REO agents and was the youngest by nearly 20 years. Anthony has seen many markets and new technology emerge without any real benefit to agents, so he decided to make a change in the industry and launched AM Open House in July of 2014. At that time, Anthony dedicated his entire focus on the AM Open House app and management platform and making the lives of agents easier, while supplying them with technology they actually want and can benefit from using, helping over 125,000 do better business within 3 short years. Founding A Social Strategy in 2016 was a milestone for Anthony as he has always had a passion for helping businesses grow through social media marketing and advertising. Currently, A Social Strategy handles advertising for many real estate agents and brokers, mortgage professionals, and businesses that need help generating quality and qualified leads. In his quest to truly help people, he is one of the few experts in the advertising field that makes a point to make himself available in groups and via messenger to help those who need it most, giving anyone and everyone direct access to him and his team.
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