It's All About Us ... NOT !
Skip the theory and go to the good stuff.
We decided early on that there were a couple of basic ways to approach this business.
1. Focus on the client: provide a personal level of service where we "do it all", or at least are the contact and point of responsibility for it "all".
2. Focus on the deal: [As you will see this is also known as the "This-is-Not-Our-Approach" approach] Focus on our personal results: leverage up our abilities in order to make the maximum number of deals.
Invest heavily in personal marketing.
Over time, develop a team to fully "leverage" ourselves. Have employees and associates to deal with buyers, ongoing seller needs, appointments, follow-up, client contact, producing marketing material and advertising, etc.
Performance measured by volume and dollar value of sales, etc. Drop down the page for more on how this works.
Despite our attempts to stay reasonably objective in this description, it is obvious we chose the first, client-focused model.
We both came from previous careers and had a pretty good idea what we wanted -- and didn't want -- in this career. We see nothing in the other model that offers our clients anything we can not offer with our approach.
We like helping people make these changes in their lives -- finding and changing homes. We like the variety of people we deal with. We like seeing our clients develop trust in us and comfort with the process because of our expertise and, often, our calming influence.
The deals come (putting Lee consistently in the top 5-10% of agents). If they stop, we will find a new career.
The team would consist of :
As the agents with our names on the signs and billboards, our primary jobs would include overall strategy and listing presentations. That is, we "get" the listing and our team manages the buying/selling process.
It is basically the consulting or large law firm model. The senior partners get the business. Junior partners through to newly-graduated energetic "fresh meat" do the work and manage the problems. The senior partner reappears for the really big problems, and occasionally to pick up the cheque and go for lunch to discuss the next job! It works fine if the people are good, trained, well managed and stable.
Another way of looking at it, is as a "mini-brokerage" but with a personal face: it's the "Fred Agent Team" rather than the "Acme Realty Inc. Team". There are recent examples of "teams" actually leaving their "broker of record" to set up their own brokerage.
The team model works on some pretty basic math. So many ads, mailers, network contacts, etc should get x number of calls/contacts which should get converted into y appointments, which should be converted into z listings or buyer agency agreements. And that, of course, leads to approximately z number of deals and commission cheques.
"Door #1, ... no #2, ... oh Monty, Monty, what should we do?"