No I felt the same way like at that point let me go back into my 9 to 5 to clock in so I can get paid the same amount to eat chips all day and look busy .
I agree with you that teams aren't for everyone. The real estate brokerage industry was created by entrepreneurs for entrepreneurs. Nevertheless, the industry still offers something for everybody. Great topic.
Guuuurrrlll!!!! LOVE THIS!!! The team I’m on the Team Leader takes 50%!!! And then we have to pay 20% to ExP! Thank you for this video! You think it helps you get your feet wet but honestly you’re still on your own even within the team and your commission is gone after all those FEES! Also, we can’t take seller leads on his open houses! Lots of restrictions! I’m ready to peace out! ✌🏼
I have seen you explain that in your first year you got very lucky with the market being red hot where you live. In places where it isn't so easy to jump in, a team can be a great tool for networking during the startup.
I’ve been on a team 2 months and I’m already thinking of quitting, I don’t see the benefit. There’s no structure, but the team leads always seem too busy to help but they want to tell us what to do. I didn’t quit my govt job for this. So I will probably leave the team soon
I left after 2 months biggest waste of my time no structure to begin with I can't even go into details I did not even close a deal with them all leads were old or a waste of time I got one contract that I brought to the team it was rediculous. I wish you the best.
😂 Im very close to getting licensed to be a realtor in Toronto and my head is all over the place as to weather I should join a team or just start on my own. And I am so thankful I came across your video! Thank you! And I LOVE your personality!
Do you have a video on how to be an independent agent like how do I get a mortgage broker, agreements, and get leads if I dont want to be a team like you described in this video?
HI I worked on a team for a little while and it worked for me because the leader was cool and all I had to do is sell. No cold calling etc..... The only thing was giving up that 25% . It works for a little while but you must move on once you make enough money to support your business, and do the same thing that the team leader was doing spending money to make money. I like your advice that you are giving. To bad your not in the NY market because SIS you would kill here.
Pros and cons to both but most teams are offering more then lead generation,they are offering marketing,lead generation,administration,office supplies and office space signs,lock boxes and brand recognition. All that can add up to a lot of money up front and that is why 85% of agents quit within the first 2 years. Jumping on a team can fast track your career and your income much more quickly.
Paul Tavares Correct- kind of. Teams are a great model for this business - but they aren’t the only path to success and they aren’t for everyone... If you have the money to invest into your own business... Marketing, a CRM, lead generating, office supplies, lockboxes, and signs don’t cost that much. And they for damn sure don’t come anywhere close to 40-50% of any commission that I’ve ever made. I’m sure I’d be singing a different tune though if I didn’t go into this knowing that I was building a business and it takes money to make money. I definitely think there are agents that benefit from the team model and as a Brokerage Owner, Teams are great for us since they run themselves. But they don’t make sense if you have some capital to start...
I agree! I really advise people to take the time to review their own options and decide on what's best for them. These youtube videos are always great and informative but people have to realize that these opinions can be biased. Teams are definitely not as bad as the tone of this video makes it seem, however every team is different and before joining do your own research.
You are awesome,, I hope I become as good an Agent that you are. You speak well you explain well. keep these videos coming you have a gift and its working,,and btw I love the way edit your videos. Especially you're " Oh hell no's" lol
Another great video. Always remember that if you are going on vacation you can partner with someone in your office for that 2 to 4 weeks and give them a percentage if they help you out. It's not worth being part of a team because of the fact that if you're a go-getter then the other team members can be slackers. And it's not fair. Try it solo work your butt off and if in a year you haven't made any money then join the team
Just got my license and was wondering what was up with the teams vs a regular agent in the brokerage, thanks for making it clear, I can now ask the right questions during my interviews
12:37 exactly that was one thing that I always hated about high school everybody always assumed you need to go college to be successful which really put me down in high school because everybody always looked down on the people who either went to work right out of high school or went to the military which I plan on doing the reserves as well as real estate. Plus my grades weren’t good enough to get into college but I know if I work hard enough I can be more successful than people who went to college to get a degree! Thank you for the motivation!
The Pretty And Productive Life the mlm model is a fancy word for pyramid scheme. All pyramid schemes go to zero. Why don’t you think the stock market does not take Exp realty seriously.
The reason it may appear as though the real estate industry is going the way of MLM is because the industry is a direct sales profession. Direct sellers and real estate agents are the ONLY independent professionals in the US recognized as statutory (legal) independent contractors at the federal level (the worker classification status can be different at the state level, but most states mimic the federal laws). So, the direct selling industry and real estate brokerage industry are closely related. This is why you'll notice some overlap in business practices. Real estate industry folks don't talk much about sales nowadays, but sales is really the profession we're engaged in - whether we choose to accept that or not. Sales is commerce. It's business and entrepreneurship. Sales is truly a business profession. And that's not a bad thing. In fact, it's just as honorable as law, medicine, and other technical professions. Every business enterprise is engaged in sales. Problem in our industry is that sales training is at an ALL TIME LOW. So most licensed salespeople/brokers don't realize the industry they're in or getting into (i.e., new agents).
Chauncey - How does joining EXP under you differ from joining a team, other than the fact that the rev share comes from EXP instead of the agent? I don't need someone telling me what to do, but being new, I need someone to learn the business from.
I can’t wait until I finish school and pass my exam. I will be reaching out to you for a mentorship. I have watched two or three videos and I would love to schedule a meeting.
Uugg I don’t know what I wanna do now . I want a team because I feel like imma be lost when I first start 😓 but I know I can do all the myself and keep my own money lol I just don’t wanna mess up on contracts and all the legality of things . Thank you for the knowledge you definitely opened my eyes to other options ❤️
yes, you split 50/50 with your team first and the remaining 50% you split additional percentage with the broker, 20% at exp, and on top of that you have to pay broker review fee $25, risk management fee $40.
I think it’s a good idea for new people who don’t want to be independent yet bc they may feel like they just want someone ti help them until they got the business down pack
This is really good info! I'm going into the real estate business and have tons of experience in entrepreneurship and sales - Teams are clearly not for me! Thanks you 👊🏿.
Love this video, thanks !! Helps me figure out which I want to do 😄 So you joined as a solo but got trained by someone and still was told to pay her for 50/50 for leads provided to you correct?
As an agent that is quite literally just starting out with no capital to invest in their own business I have to ask would you suggest still not starting out in a team or perhaps join and use the title as a way to gain credibility?
Luv this! I'm new to the industry and feel the same way. I want complete autonomy and both the good and "bad" that comes with it. How else am I going to learn. I want to run my business my dreams, not anyone else. Great Video 😊
Teams are great if they come with structure and stability and they do what they say they will do. If the leads are garbage and the team leader has no time to train you in the business, then you are wasting your time and would do better on your own if you’d just learn how to invest in yourself. Do the work and keep your money in your pocket.
New to the business and I joined a team. My team doesn’t provide any leads. I’m seriously re thinking my decision. Also in your math portion. You forgot about the actual brokerages fees. My team takes 50% and the brokerage takes 30%.
Jazz Jenkins Yeah, about that part... It’s tough. It can be worth it if the team brings value, but if it doesn’t, it’s a total waste unfortunately. And there are no standards for Team Leaders to start a team, so it’s oftentimes a shot in the dark and trial and error.
could you provide someone who is a self starter an example structure a new agent could work with starting out? would help a lot compared to having to join a team to learn what they are doing so you can do it solo. i know a agent who has "door knocking fridays" and his team does calls from 9-11 mon-fri
This is soooooo helpful... Taking my NYS test and school test this Wednesday. Already an entrepreneur. A very successful team wants me.... So confusing.
Teams aren't for me either! I've been in the business 3 years and have closed on 32 homes as a solo agent. I'm not raking in $200K a year, but my annual income has grown significantly since the first year. I know teams work for many people but it definitely wasn't for me. Thanks for the videos.
You are Real,reel,rio.lol. Hi iam Jerry,here in California.Took the test one year before the covid, passed it and now the Covid, currently in Commercial Logistics but just got hired with a BIG BLOCK Real Estate enthusiast that suggests that I be on the BIG BLOCK,you explained it better....more like a big butcher block.Thanks.
I'm with you, I don't see how it make sense, I also know how to do the business, I have all the trainings and an excellent customer service, it doesn't make sense to me to leave 50% of my commission to a team plus the brokerage commission, gosh I have a heart attack. Thank you for the video, I was really thinking of getting on a team because I'm very tight on money right now, but yo made me not to, I know if I join a team I will be complaining to myself everyday. Thank you. I will start doing cold calls to get some listing and close some deal to get the game back on!!!
I like why you don't want to split your commission that is exactly what I did for a few years of being a top self performer. But to say you are a entrepreneur and don't see the value in you forming a team is making me question your limited mindset on this topic. In the do the math you gave a great example of why an agent shouldn't join a team. But in that same example, you as an entrepreneur should see the value of you having a team. You can spend ($1,800 x 3 = 5,400) 3 team members and make 22K for yourself just for doing lead gen. Right by your math??. Your current business dies if you get sick. That is a job. full time hustle. But as an entrepreneur you need to find a way out of your business and still have it generate passive cash. You need to get in the mindset as being over watch, Not the jack and jill of all task. That will take you down if something happens to you. If you are great at lead gen, which apparently you are. That should be your main focus and multiply your success by having others who don't like that part or don't have the where with all to make it happen in this business and are willing to give you HALF. Unfortunately, your business model is you are still an agent that owns her own brokerage. Which is great for non entrepreneurs. I have seen you spin off in other areas in your business. When you invest in those properties do you do all the remodeling? I hope not. You having 3 pillars in your business is smart. But if they only will run if you are present it becomes reckless long term. You are way way to talented, intelligent and outgoing to get stuck here. You have more to offer others and you can multiply your income in the process of being a mentor and team leader. (Remember some of your points, some people do need a team) Why not yours? Congrats on all of your success so far it is Amazing. TIME TO LEVEL UP it is simple math.
Okay, I seen that you have joined EXP video. Basically it was dang near what my advice was pointing towards. I see that you came to disagree a little with the person who did this video and found out that what you was doing was way to taxing.
I feel this whole Realtor business is considerably flawed. I’m moving into my third job after 6 months having been let down by my mentors who sold me great mentionship (until I got there!) I’ve had ZERO support and all my training has been through NAR. However, I’m not giving up especially as I have literally spent thousands of dollars and already done continued education!!! It’s a money making racket and agencies take a huge chunk of your dreams, hopes and wishes! Hanging your license somewhere is exploited. I’ve been extremely disappointed with my career thus far.
Tracy Levy It’s not flawed at all. You simply entered it with improper expectations. I know this without ever having had a formal conversation with you because of 1 key thing you said... JOB. Real Estate isn’t a job and your brokerage/mentors aren’t your employers. They honestly don’t give 2 shits whether you sell or not. It’s your business and it’s up to you to do the do the research, implementation, and the work. At that point once they see you’re working and trying, they’ll usually poor a little more time into you. All I’m hearing in your comment is THEM and THEY. How you’re disappointed in all of these other folks around you in Real Estate. None of them matter. It’s your business. Real Estate is only cut out for those that have an entrepreneurial mindset, business acumen, and salesmanship. That’s what they don’t tell you in school.... Don’t give up. Just change your mindset and put your focus into learning things on your own - because that’s how Real Estate works!
Chauncey Pham you’re SPOT ON. If I found out how it all worked on day 1 at realty school I could’ve bounded into the industry with confidence knowing what I was in for. Now that I’ve learnt it all the hard way I’m starting from scratch and reaching for the stars!
Tiffany Lawrence Are you just given leads or Is there a system in place to “fish”? Honestly, the best thing to do is mimic the system(s) in place that the team uses, just in your own way. If a TC does all the paperwork, find one that works for you that’s paid on a per deal basis. If you’re cold calling and fishing for leads, find some cheaper alternatives to do this yourself like Mojo and RedX. If you’re on a good team that’s producing, you need to watch what’s going on and take from it what’s beneficial and simply apply the same principles for yourself.🤷🏽♀️
I've been jumping in and out of real estate here in Texas for the last 3½yrs. The biggest thing is actually getting with a brokerage and the right people who are going to show you something. I've had a horrible time in real estate and I've been with 3 different brokerage. My analogy of Brokers and realtors is like p!mps & hoes.🤣🤣🤣 .... it's TRUE though.
All major agents or businesses in general work in teams. The military is team work. No single agent can stand up to a well run team period. There is no such thing as a lone sniper even they have a spotter. Because you don’t fully understand something does not mean it dont work. The best agents in the world are teams. A well run team gets you leads out the gate no need to prospect. Also 87% of all agents fail. While those on a team have a 67% chance of success! Your talking from a perspective of an ignorant person who don’t know nothing about teams. Misleading agents.
Da Brigadier General I stated my opinion and gave pros and cons🤷🏽♀️. I encourage collaboration and teamwork- but the traditional model of teams in Real Estate is a rough game because of 1 reason.... Limited Opportunity for team members to grow. Can you get leads? Yes. Can teams do lots of volume? Yes. Are there still lots of fuckers on teams that are broke with limited/no opportunity to move up in the organization? Hell yes. From my viewpoint of economics, the traditional model is flawed and typically runs on a low profit margin unless the team leader is still in production. There’s constant churning because it’s hard to attract talent - because talent craves opportunity. Are teams for some people? Sure. But they aren’t for me and that’s what the damn video was about😕.
You release a video with an opinion based on your bias against teams and not based on facts! I quoted you 2 statistics you could not come back woth statistics cause my numbers hold up. So you come back with opinion. Also like most agents your only talking from the agents perspective not the consumer perspective. The consumer is better served with a team. You never see the doctor without a nurse. Also I guarantee that a few years from now your gonna eat those words and form your own team especially if you start getting too busy. Here is the thing if you hire an assistant you just started a team. A few years from now if you are able to stick in the business I guarantee your eat your words. Also your all about splitting your commission always about me me me, always agent centric never consumer centric. This thinking will be down fall for all agents in the future! Your maths is also flawed because you not adding in the fact that the team is giving you leads that would cost thousands to get. Your not factoring in Customer acquisition cost. Your not factoring in specialization, most teams have different folks in different seats that they are best suited for. Your not factoring in time saved. You go from doing 100% of the work your self and now only 20% of what you would normally have to do. You can take a vacation and have a normal life. Worst of all you targeted eduction saying it’s not for everyone. I said the same dumb shit when me an Emmy brother where running a multi million dollar real estate house flipping business also. Until the 2008 recession happened and I was competing for a job as a dog handler with people who had PHD’s. A feeling dog 🐕 handler!
Da Brigadier General You obviously don’t watch any of my videos. 1) I own a Brokerage and understand the ins and outs of the business from cultural, financial, and operations perspectives. 2) Having an assistant isn’t starting a traditional Real Estate Team - it’s hiring a damn assistant... Which I have 2. 3) I’m now at EXP (still own a brokerage as well that’s operated independently for our investment company) and am building a Nationwide Team. Again, I never discredited collaboration or working with others. I just personally don’t believe the TRADITIONAL Real Estate Team model is sustainable. It works for some, but others it doesn’t. 🤷🏽♀️
Brigadier General why don’t you start your own RUclips channel and stop hating on other people’s! We want to hear what Chauncey says which is why we follow. We all have free choice, go position your soap box elsewhere
So let me get this straight... Someone gives you credible leads, provides backend support and provides you with constant business you see that as a con? Btw...your math...is whack lol wtf where you dreaming about? How do you calculate the the backend costs, marketing costs, splits with the office. Please...stop putting out garbage videos.
Oh wow. That’s cute lol. I actually provided pros and cons for being on a team and simply said that it’s not the solution for all agents. The beginning of the video is literally giving reasons why you SHOULD join a team - go away troll 🙄. Also, as someone that has run a team and a brokerage, I’m well aware of all the expenses. Most teams run on a 25-30% margin and aren’t super profitable in spite of their productivity due to expenses. So I get it. But most folks join teams not for the leverage, marketing, training.. Hell statistically speaking, most agents leave the business regardless of what resources they’re able to plug and play into - so your comment about constant business is laughable. It’s definitely a con if I can do all of the same for myself - lead generate, market, create a system of follow up.... I don’t need a team. Some people need it and some don’t 🤷🏽♀️ My math is regarding the cost of leads. Not the cost of operation of a team. How much do you produce with having so much time to troll online and all?😂😏🥴 Thanks for the engagement!
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Dont forget brokerage fees, transaction fee...that $7500 the agent get is gonna turn into $1800...HELLLL NAAAWW!
Davena Hanna Correct!
There is absolutely no way I can work on a team. I became a realtor to make my own money. #CutTheCheck
🎯
No I felt the same way like at that point let me go back into my 9 to 5 to clock in so I can get paid the same amount to eat chips all day and look busy .
This video changes everything! You saved me from a world of trouble 🙌🏾 thank you
Laetitia Claire Francois Awesome! Teams definitely have their place in the business, but I think folks should know their options!
Don’t listen to this lady’s she do t know what the fuck she is talking about
Brigadier General why do you say that?
I agree with you that teams aren't for everyone. The real estate brokerage industry was created by entrepreneurs for entrepreneurs. Nevertheless, the industry still offers something for everybody. Great topic.
Guuuurrrlll!!!! LOVE THIS!!! The team I’m on the Team Leader takes 50%!!! And then we have to pay 20% to ExP! Thank you for this video! You think it helps you get your feet wet but honestly you’re still on your own even within the team and your commission is gone after all those FEES! Also, we can’t take seller leads on his open houses! Lots of restrictions! I’m ready to peace out! ✌🏼
I have seen you explain that in your first year you got very lucky with the market being red hot where you live. In places where it isn't so easy to jump in, a team can be a great tool for networking during the startup.
Thankyou for this, been solo for 5 months now and was debating on joining a team. I will continue to bet on myself 🙏🏼💪🏼
I’ve been on a team 2 months and I’m already thinking of quitting, I don’t see the benefit. There’s no structure, but the team leads always seem too busy to help but they want to tell us what to do. I didn’t quit my govt job for this. So I will probably leave the team soon
I left after 2 months biggest waste of my time no structure to begin with I can't even go into details I did not even close a deal with them all leads were old or a waste of time I got one contract that I brought to the team it was rediculous. I wish you the best.
😂 Im very close to getting licensed to be a realtor in Toronto and my head is all over the place as to weather I should join a team or just start on my own. And I am so thankful I came across your video! Thank you! And I LOVE your personality!
This has given me a different perspective going into this business!! Thank you🙌🏾
Do you have a video on how to be an independent agent like how do I get a mortgage broker, agreements, and get leads if I dont want to be a team like you described in this video?
HI I worked on a team for a little while and it worked for me because the leader was cool and all I had to do is sell. No cold calling etc..... The only thing was giving up that 25% . It works for a little while but you must move on once you make enough money to support your business, and do the same thing that the team leader was doing spending money to make money. I like your advice that you are giving. To bad your not in the NY market because SIS you would kill here.
Pros and cons to both but most teams are offering more then lead generation,they are offering marketing,lead generation,administration,office supplies and office space signs,lock boxes and brand recognition. All that can add up to a lot of money up front and that is why 85% of agents quit within the first 2 years. Jumping on a team can fast track your career and your income much more quickly.
Paul Tavares Correct- kind of. Teams are a great model for this business - but they aren’t the only path to success and they aren’t for everyone... If you have the money to invest into your own business... Marketing, a CRM, lead generating, office supplies, lockboxes, and signs don’t cost that much. And they for damn sure don’t come anywhere close to 40-50% of any commission that I’ve ever made. I’m sure I’d be singing a different tune though if I didn’t go into this knowing that I was building a business and it takes money to make money. I definitely think there are agents that benefit from the team model and as a Brokerage Owner, Teams are great for us since they run themselves. But they don’t make sense if you have some capital to start...
Thanks for engaging and your feedback!!!! Keep it coming!
I agree! I really advise people to take the time to review their own options and decide on what's best for them. These youtube videos are always great and informative but people have to realize that these opinions can be biased. Teams are definitely not as bad as the tone of this video makes it seem, however every team is different and before joining do your own research.
You are awesome,, I hope I become as good an Agent that you are. You speak well you explain well. keep these videos coming you have a gift and its working,,and btw I love the way edit your videos.
Especially you're " Oh hell no's" lol
Another great video. Always remember that if you are going on vacation you can partner with someone in your office for that 2 to 4 weeks and give them a percentage if they help you out. It's not worth being part of a team because of the fact that if you're a go-getter then the other team members can be slackers. And it's not fair. Try it solo work your butt off and if in a year you haven't made any money then join the team
Love your energy, love your energy. You are like a fresh breeze in the air. Keep posting girlfriend!
Just got my license and was wondering what was up with the teams vs a regular agent in the brokerage, thanks for making it clear, I can now ask the right questions during my interviews
12:37 exactly that was one thing that I always hated about high school everybody always assumed you need to go college to be successful which really put me down in high school because everybody always looked down on the people who either went to work right out of high school or went to the military which I plan on doing the reserves as well as real estate. Plus my grades weren’t good enough to get into college but I know if I work hard enough I can be more successful than people who went to college to get a degree! Thank you for the motivation!
Yeah man just grind hard everyday
I see your point about the team and I do feel like the real estate industry seems to be turning more toward the mlm business model in some aspects.
The Pretty And Productive Life the mlm model is a fancy word for pyramid scheme. All pyramid schemes go to zero. Why don’t you think the stock market does not take Exp realty seriously.
The reason it may appear as though the real estate industry is going the way of MLM is because the industry is a direct sales profession. Direct sellers and real estate agents are the ONLY independent professionals in the US recognized as statutory (legal) independent contractors at the federal level (the worker classification status can be different at the state level, but most states mimic the federal laws). So, the direct selling industry and real estate brokerage industry are closely related. This is why you'll notice some overlap in business practices. Real estate industry folks don't talk much about sales nowadays, but sales is really the profession we're engaged in - whether we choose to accept that or not. Sales is commerce. It's business and entrepreneurship. Sales is truly a business profession. And that's not a bad thing. In fact, it's just as honorable as law, medicine, and other technical professions. Every business enterprise is engaged in sales. Problem in our industry is that sales training is at an ALL TIME LOW. So most licensed salespeople/brokers don't realize the industry they're in or getting into (i.e., new agents).
I’m in the process of getting my real estate license and this was helpful. Thank you. I’m not a team player, lol.
Chauncey - How does joining EXP under you differ from joining a team, other than the fact that the rev share comes from EXP instead of the agent? I don't need someone telling me what to do, but being new, I need someone to learn the business from.
I can’t wait until I finish school and pass my exam. I will be reaching out to you for a mentorship. I have watched two or three videos and I would love to schedule a meeting.
I really enjoy your videos very informational. Thank you so much.
Uugg I don’t know what I wanna do now . I want a team because I feel like imma be lost when I first start 😓 but I know I can do all the myself and keep my own money lol I just don’t wanna mess up on contracts and all the legality of things . Thank you for the knowledge you definitely opened my eyes to other options ❤️
Do what's best for you! You can always start out on a team to build and learn then do your own thing later.
Wait, so you have to split your comission with your broker and then with your team? Hell nah.
Yes
yes, you split 50/50 with your team first and the remaining 50% you split additional percentage with the broker, 20% at exp, and on top of that you have to pay broker review fee $25, risk management fee $40.
I think it’s a good idea for new people who don’t want to be independent yet bc they may feel like they just want someone ti help them until they got the business down pack
most honest video on youtube thank you!
How long have you been in business and how much money are you making?
Where do you suggest buying leads from?
This is really good info! I'm going into the real estate business and have tons of experience in entrepreneurship and sales - Teams are clearly not for me! Thanks you 👊🏿.
I think I’m join a team first to get my feet wet learn most as I can but after that I’m going solo solo
@CHAUNCY What's your take on this approach? Seems wise to me. I'm just now considering diving in myself.
Finally someone explained the team Realtor option.
I love your perspective! I feel the same, even though I'm just starting.
i thought joining a team was the way to go until i really did my homework....i did this to leave the 9-5 life...it just doesnt add up
Before seeing this video I didn't join a team either. Thanks for sharing for others coming up
This content is gold! So much truth!
Holy crap, your intro is legit!
Love this video, thanks !! Helps me figure out which I want to do 😄
So you joined as a solo but got trained by someone and still was told to pay her for 50/50 for leads provided to you correct?
What a wealth of truth 💣💣💣!!
Great video!! Are you Chris Mcghee’s cousin? Realtor in Austin. Used to bartend on lower Greenville at Shade?
Yep.
@@TheChaunceyShow Small world. Great dude!
How much is it to buy leads?
As an agent that is quite literally just starting out with no capital to invest in their own business I have to ask would you suggest still not starting out in a team or perhaps join and use the title as a way to gain credibility?
Luv this! I'm new to the industry and feel the same way. I want complete autonomy and both the good and "bad" that comes with it. How else am I going to learn. I want to run my business my dreams, not anyone else. Great Video 😊
Teams are great if they come with structure and stability and they do what they say they will do. If the leads are garbage and the team leader has no time to train you in the business, then you are wasting your time and would do better on your own if you’d just learn how to invest in yourself. Do the work and keep your money in your pocket.
I want to get into real estate, need more money and I'm willing to put in the work
Thing is, teams are more than just paying for your leads: it's great training, and usually covers all your listing marketing as well.
You can pay for the training online, you dont need a team for that. You have people who will do zoom calls and train you all you want for a price.
just subscribed, great content.
New to the business and I joined a team. My team doesn’t provide any leads. I’m seriously re thinking my decision.
Also in your math portion. You forgot about the actual brokerages fees. My team takes 50% and the brokerage takes 30%.
Jazz Jenkins Yeah, about that part... It’s tough. It can be worth it if the team brings value, but if it doesn’t, it’s a total waste unfortunately. And there are no standards for Team Leaders to start a team, so it’s oftentimes a shot in the dark and trial and error.
I joined a team and while I was provided leads, they were trash. The team lead didn’t hold up her end if the promises either
could you provide someone who is a self starter an example structure a new agent could work with starting out? would help a lot compared to having to join a team to learn what they are doing so you can do it solo. i know a agent who has "door knocking fridays" and his team does calls from 9-11 mon-fri
Thank you sister!!!!!
This is soooooo helpful... Taking my NYS test and school test this Wednesday.
Already an entrepreneur. A very successful team wants me....
So confusing.
Awesome video! Love it!
Love your mindset!!! And this video is BOMB! 🔥🔥🔥
Teams aren't for me either! I've been in the business 3 years and have closed on 32 homes as a solo agent. I'm not raking in $200K a year, but my annual income has grown significantly since the first year. I know teams work for many people but it definitely wasn't for me. Thanks for the videos.
I would rather be in a team with my best friends cause i trust them.
The math tho!! It makes so much sense
Perfect! Thanks!
If I go solo, don't I have to join a brokerage only since I am not a broker?
VERY INTERESTING! Thank you for sharing your thoughts ♥️ new subscriber 🥂
kinda like when I was a waiter...Tip pooling lol. which I was not a fan of depending on the customer or event.
Sooo logical sound and practical advice!! You're amazing, new sub Chauncey! I wish you continued success and prosperity with all that you do 😁🏁
Glad it works for you.
Really like
Great video!!!
Lorenzo Palmer Glad you enjoyed it!
Love the video!!!!
Jennifer Garcia Hey you!!! Glad you liked it! Now it’s time for a new one from you....
You are Real,reel,rio.lol.
Hi iam Jerry,here in California.Took the test one year before the covid, passed it and now the Covid, currently in Commercial Logistics but just got hired with a BIG BLOCK Real Estate enthusiast that suggests that I be on the BIG BLOCK,you explained it better....more like a big butcher block.Thanks.
Thanks for your input... I think that everybody else shouldn't join a team.
Hey I see you.
Never realized they keep that much of your $, thanks!
I appreciate this video and your perspective :)
Facts!
Just found your channel!! Love this video and the great advice.
#NewSubbie
Lacuanda Lucy Hey new subbie!!!
I love you!!!!
I'm with you, I don't see how it make sense, I also know how to do the business, I have all the trainings and an excellent customer service, it doesn't make sense to me to leave 50% of my commission to a team plus the brokerage commission, gosh I have a heart attack. Thank you for the video, I was really thinking of getting on a team because I'm very tight on money right now, but yo made me not to, I know if I join a team I will be complaining to myself everyday. Thank you. I will start doing cold calls to get some listing and close some deal to get the game back on!!!
I like why you don't want to split your commission that is exactly what I did for a few years of being a top self performer. But to say you are a entrepreneur and don't see the value in you forming a team is making me question your limited mindset on this topic. In the do the math you gave a great example of why an agent shouldn't join a team. But in that same example, you as an entrepreneur should see the value of you having a team. You can spend ($1,800 x 3 = 5,400) 3 team members and make 22K for yourself just for doing lead gen. Right by your math??. Your current business dies if you get sick. That is a job. full time hustle. But as an entrepreneur you need to find a way out of your business and still have it generate passive cash. You need to get in the mindset as being over watch, Not the jack and jill of all task. That will take you down if something happens to you. If you are great at lead gen, which apparently you are. That should be your main focus and multiply your success by having others who don't like that part or don't have the where with all to make it happen in this business and are willing to give you HALF. Unfortunately, your business model is you are still an agent that owns her own brokerage. Which is great for non entrepreneurs. I have seen you spin off in other areas in your business. When you invest in those properties do you do all the remodeling? I hope not. You having 3 pillars in your business is smart. But if they only will run if you are present it becomes reckless long term. You are way way to talented, intelligent and outgoing to get stuck here. You have more to offer others and you can multiply your income in the process of being a mentor and team leader. (Remember some of your points, some people do need a team) Why not yours? Congrats on all of your success so far it is Amazing. TIME TO LEVEL UP it is simple math.
Okay, I seen that you have joined EXP video. Basically it was dang near what my advice was pointing towards. I see that you came to disagree a little with the person who did this video and found out that what you was doing was way to taxing.
I am only 16, Idk why i am watching this rn LOL
Planting seeds 😉
I feel this whole Realtor business is considerably flawed. I’m moving into my third job after 6 months having been let down by my mentors who sold me great mentionship (until I got there!) I’ve had ZERO support and all my training has been through NAR. However, I’m not giving up especially as I have literally spent thousands of dollars and already done continued education!!! It’s a money making racket and agencies take a huge chunk of your dreams, hopes and wishes! Hanging your license somewhere is exploited. I’ve been extremely disappointed with my career thus far.
Tracy Levy It’s not flawed at all. You simply entered it with improper expectations. I know this without ever having had a formal conversation with you because of 1 key thing you said... JOB. Real Estate isn’t a job and your brokerage/mentors aren’t your employers. They honestly don’t give 2 shits whether you sell or not. It’s your business and it’s up to you to do the do the research, implementation, and the work. At that point once they see you’re working and trying, they’ll usually poor a little more time into you. All I’m hearing in your comment is THEM and THEY. How you’re disappointed in all of these other folks around you in Real Estate. None of them matter. It’s your business. Real Estate is only cut out for those that have an entrepreneurial mindset, business acumen, and salesmanship. That’s what they don’t tell you in school.... Don’t give up. Just change your mindset and put your focus into learning things on your own - because that’s how Real Estate works!
Chauncey Pham you’re SPOT ON. If I found out how it all worked on day 1 at realty school I could’ve bounded into the industry with confidence knowing what I was in for. Now that I’ve learnt it all the hard way I’m starting from scratch and reaching for the stars!
Hello, I've been on a team a lil over a year. Currently trying to get off. What are some suggestions to prepare myself to be successful going alone?
Tiffany Lawrence Are you just given leads or Is there a system in place to “fish”? Honestly, the best thing to do is mimic the system(s) in place that the team uses, just in your own way. If a TC does all the paperwork, find one that works for you that’s paid on a per deal basis. If you’re cold calling and fishing for leads, find some cheaper alternatives to do this yourself like Mojo and RedX. If you’re on a good team that’s producing, you need to watch what’s going on and take from it what’s beneficial and simply apply the same principles for yourself.🤷🏽♀️
Tiffany Lawrence It’s not rocket science, bad team leaders just make it appear to be so that you stay dependent on them. Observe adjust, and re-apply.
I've been jumping in and out of real estate here in Texas for the last 3½yrs. The biggest thing is actually getting with a brokerage and the right people who are going to show you something. I've had a horrible time in real estate and I've been with 3 different brokerage.
My analogy of Brokers and realtors is like p!mps & hoes.🤣🤣🤣 .... it's TRUE though.
All major agents or businesses in general work in teams. The military is team work. No single agent can stand up to a well run team period. There is no such thing as a lone sniper even they have a spotter. Because you don’t fully understand something does not mean it dont work. The best agents in the world are teams. A well run team gets you leads out the gate no need to prospect. Also 87% of all agents fail. While those on a team have a 67% chance of success! Your talking from a perspective of an ignorant person who don’t know nothing about teams. Misleading agents.
Da Brigadier General I stated my opinion and gave pros and cons🤷🏽♀️. I encourage collaboration and teamwork- but the traditional model of teams in Real Estate is a rough game because of 1 reason.... Limited Opportunity for team members to grow. Can you get leads? Yes. Can teams do lots of volume? Yes. Are there still lots of fuckers on teams that are broke with limited/no opportunity to move up in the organization? Hell yes.
From my viewpoint of economics, the traditional model is flawed and typically runs on a low profit margin unless the team leader is still in production. There’s constant churning because it’s hard to attract talent - because talent craves opportunity.
Are teams for some people? Sure. But they aren’t for me and that’s what the damn video was about😕.
You release a video with an opinion based on your bias against teams and not based on facts! I quoted you 2 statistics you could not come back woth statistics cause my numbers hold up. So you come back with opinion. Also like most agents your only talking from the agents perspective not the consumer perspective. The consumer is better served with a team. You never see the doctor without a nurse. Also I guarantee that a few years from now your gonna eat those words and form your own team especially if you start getting too busy. Here is the thing if you hire an assistant you just started a team. A few years from now if you are able to stick in the business I guarantee your eat your words. Also your all about splitting your commission always about me me me, always agent centric never consumer centric. This thinking will be down fall for all agents in the future! Your maths is also flawed because you not adding in the fact that the team is giving you leads that would cost thousands to get. Your not factoring in Customer acquisition cost. Your not factoring in specialization, most teams have different folks in different seats that they are best suited for. Your not factoring in time saved. You go from doing 100% of the work your self and now only 20% of what you would normally have to do. You can take a vacation and have a normal life. Worst of all you targeted eduction saying it’s not for everyone. I said the same dumb shit when me an Emmy brother where running a multi million dollar real estate house flipping business also. Until the 2008 recession happened and I was competing for a job as a dog handler with people who had PHD’s. A feeling dog 🐕 handler!
Da Brigadier General You obviously don’t watch any of my videos. 1) I own a Brokerage and understand the ins and outs of the business from cultural, financial, and operations perspectives. 2) Having an assistant isn’t starting a traditional Real Estate Team - it’s hiring a damn assistant... Which I have 2. 3) I’m now at EXP (still own a brokerage as well that’s operated independently for our investment company) and am building a Nationwide Team. Again, I never discredited collaboration or working with others. I just personally don’t believe the TRADITIONAL Real Estate Team model is sustainable. It works for some, but others it doesn’t. 🤷🏽♀️
You need to stop being so combative. Great teams work great but all teams are not created equal. Many agents get burned joining teams
Brigadier General why don’t you start your own RUclips channel and stop hating on other people’s! We want to hear what Chauncey says which is why we follow. We all have free choice, go position your soap box elsewhere
So let me get this straight...
Someone gives you credible leads, provides backend support and provides you with constant business you see that as a con?
Btw...your math...is whack lol wtf where you dreaming about?
How do you calculate the the backend costs, marketing costs, splits with the office.
Please...stop putting out garbage videos.
Oh wow. That’s cute lol. I actually provided pros and cons for being on a team and simply said that it’s not the solution for all agents. The beginning of the video is literally giving reasons why you SHOULD join a team - go away troll 🙄. Also, as someone that has run a team and a brokerage, I’m well aware of all the expenses. Most teams run on a 25-30% margin and aren’t super profitable in spite of their productivity due to expenses. So I get it. But most folks join teams not for the leverage, marketing, training.. Hell statistically speaking, most agents leave the business regardless of what resources they’re able to plug and play into - so your comment about constant business is laughable.
It’s definitely a con if I can do all of the same for myself - lead generate, market, create a system of follow up.... I don’t need a team. Some people need it and some don’t 🤷🏽♀️
My math is regarding the cost of leads. Not the cost of operation of a team. How much do you produce with having so much time to troll online and all?😂😏🥴
Thanks for the engagement!
lol the math thing helped - and loved the funny video clip