Traditionally, home buyers and sellers work with one agent from the beginning to the end of the process. Over the years, though, real estate teams composed of multiple agents and other professionals have become more common.
If you’re ready to enter the real estate market, you might be wondering whether it’s better to hire an individual agent or collaborate with a team. There are advantages to both options, so the decision is ultimately up to your personal preference. To make an informed choice, you should understand the benefits and drawbacks of working with a team versus working with an individual.
How Real Estate Teams Work
All real estate teams function in slightly different ways. You might work with only two agents in a partnership, or you could work with a team of 10 or more agents and other professionals.
In large real estate teams, each team member usually has a specialty. The following are some of the most common roles:
- Lead Agent: The primary contact for the client and the agent who oversees the process from beginning to end.
- Sales Agent: An agent who specializes in creating listings for sellers or finding listings for buyers.
- Transaction Coordinator: The agent handling the paperwork and tasks required for closing to ensure the team stays on schedule.
- Marketing Specialist: A professional who takes listing photos and promotes the listing.
- Administrative Assistant: The team member who handles scheduling, phone calls, mail, and a variety of other supportive and organizational tasks.
Some real estate teams may charge slightly more commission than individual agents, but in most cases, the costs are similar. Team members will split the commission while a solo agent will keep the entire commission.
Pros of Hiring a Team
Diversity of Expertise
The greatest advantage of hiring a large real estate team is that every team member has different experience and expertise. One agent may have great connections for finding or advertising listings while another agent specializes in coordinating the closing process. When each person brings their unique strengths to the table, you can achieve the best results from beginning to end.
Delegation of Tasks
A good real estate team will have clearly defined roles and responsibilities for each member. This ensures that tasks get done as quickly as possible. Instead of one agent tackling every part of the transaction, you have several professionals working on each task simultaneously. This is especially valuable when you’re on a tight timeline and need to close quickly.
Easier to Contact Someone
Time is of the essence in real estate. You might need to schedule a showing on short notice or get a fast answer on a question about an inspection, appraisal, or other task. A good solo agent will be easy to reach by phone, but they can’t be available all the time. When you work with a team, there’s a better chance you can contact someone for immediate assistance when something time-sensitive comes up.
Cons of Hiring a Team
Risk of Miscommunication
A strong real estate team should have a system for delegating tasks and following up to ensure everything is completed. However, whenever multiple people work on a project, there’s always a risk of miscommunication. An important task could slip through the cracks if every team member thought someone else was responsible for it. Additionally, as a client, trying to communicate with several different people throughout the process can feel overwhelming.
Lack of Leadership or Direction
Your real estate team should have a lead agent or coordinator who serves as a project manager, ensuring everyone fulfills their responsibilities. If the lead agent is unreliable or unresponsive, you could have a disaster on your hands. Real estate teams without designated roles can struggle to build momentum and find direction, too.
Pros of Hiring an Individual
Stronger Relationship
Buying or selling a house is stressful, but having a good relationship with your real estate agent makes the process so much easier. When you work with an individual agent, you’re able to build more trust and rapport because they’re with you from beginning to end. The experience of working with a solo agent can also feel more personalized because your agent will get to know your goals, preferences, and needs at every step.
Accountability From Agent
When one agent is solely responsible for the entire transaction, there’s a lower chance that something will slip through the cracks or be miscommunicated. Your agent is accountable for every task. They know exactly where you’re at in the process and what needs to be done to get you to your closing date. They’ll be able to answer your questions immediately because they’re the one managing all the details.
Cons of Hiring an Individual
Less Availability
An individual real estate agent can be harder to schedule with than a real estate team. When working with a team, one of several agents could host your open house or accompany you to a showing. When you only have one agent, scheduling may not be as flexible. Your agent will do their best to accommodate your schedule, but they can’t be in two places at once.
More Time to Complete Tasks
Tasks like preparing your listing, crafting an offer, or communicating with the other party’s agent during negotiations can take longer when you work with a solo agent. An individual agent has to work on one task at a time while a real estate team can have several professionals working on a project at once.
Choosing the Right Option for Your Needs
Some clients prefer working with individual agents, and others choose to work with a real estate team. Both options have their benefits and drawbacks, so you should consider your own individual circumstances to decide which is the best choice.
If you want an individualized experience and the ability to develop a close and trusting relationship with an agent, working with a solo real estate agent will probably be a better fit. Working with one individual can feel more straightforward and less overwhelming than communicating with an entire team.
If you have a tight deadline for buying or selling a home or are in a particularly hot real estate market, working with a team may be best. When you have a lot of professionals in your corner, you and your team will be able to act quickly to make sure you don’t miss any opportunities.
Whether you choose to hire a solo agent or a team, what’s most important is that you work with reliable, experienced professionals who understand your local market. When you know you can count on your agent or agents, the buying or selling experience will feel much smoother.