Discover the top three real estate team models and learn how to make an informed decision to build your own multimillion-dollar team. In this episode, we dive into the mentor-mentee model, the team leader model, and the lead team model, providing a detailed comparison of each structure.
We start with the mentor-mentee model, where experienced agents teach new agents the ropes, focusing on outbound prospecting, strategic planning, and effective open house hosting. We explore the services, expectations, splits, and costs associated with this model, highlighting the importance of commission structures and the potential long-term income. However, we also discuss the challenges of high turnover and limited compensation for training new agents.
Next, we explore the team leader model, which revolves around promoting the team leader's brand and maintaining unmatched customer service. We delve into the structure, lead generation strategy, services, expectations, splits, and costs of this model, emphasizing the need for full-time administrative support and the retention of clients under the team rather than individual agents.
Finally, we examine the lead team model, a high-volume, operations-driven structure that relies heavily on advertising for lead generation. We discuss the lead generation strategy, services, expectations, splits, and costs associated with this model, highlighting the scalability and potential for high commissions. However, we also emphasize the financial risks involved and the importance of setting rigid milestones for team members to ensure success.
Join Toni and Jenny as they unravel the intricacies of these team models, providing valuable insights to help you determine the right approach for your real estate business. Whether you're a seasoned agent or just starting out, this episode offers valuable guidance for building a successful real estate team or considering joining one.
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