Real estate listing teams have become more common over the years. While the single agent still remains the most popular model for buying and selling real estate, there are some advantages to hiring a real estate listing team instead. In fact, there are advantages for both a client and the team itself in this case.
A client will receive expert information and help in all areas of their real estate selling and buying. You won't have just one single agent working with you to not only list your home for sale but also to help you find and buy a new home. Instead, you will have an entire team working with you to make this happen.
How does a real estate listing team work? Here is the breakdown of most teams.
Team Leader Or Head Agent
The first part of a real estate listing team is the team leader or head agent. This could be the agency's owner or other long-term or senior agent there. The team leader typically is the agent who handles all the listings themselves. You will most likely sit down with the team leader to help provide the information needed to list your home for sale.
The team leader typically only represents you as a seller. It is possible that you can receive representation by another member of the team should you want to buy a new home.
Other members of the team include the administration. These are the teams' assistants, secretaries, and office employees. They handle the majority of the paperwork and fielding the initial phone calls to the agency. When you first call a real estate listing team, you will talk to one of their administration team. They will get important information from you and organize it for the team leader.
They also handle the writing up of any seller agreements, sales transactions, and other paperwork the team needs.
If you are going to buy another house once you sell your home, you won't work with the team leader or listing agent. You will work with another member of the listing team, the buyer's agent. This agent will only focus on your needs as a buyer.
Once you give them your preferences for the home, location of where you want the new home to be and whatever else the agent needs to find you the right home, they will look through their own agency's listings as well as all other possible leads.
The buyer agent is there to help you find the right house at the best price possible. Sometimes, you will find the team has a negotiating agent too, which is separate from this buyer agent. However, it is likely you will only work with the buyer agent.
If the agency sees a lot of business, it's possible they will have a showing agent. This means they are responsible for taking potential buyers to see listings when the buyer's agent is unavailable to do so, such as when the buyer's agent is with another client.
Their primary role is to have knowledge about the listings they are taking clients to and showing them properties they could be interested in.
They will then take those homes that the potential buyer is interested in and hand them off to the buyer's agent to negotiate the sale.