The Power of Playing Real Estate Like a Team Sport.
There’s a touch of irony in the fact the names of so many real estate groups end in the word team. After all, while cooperation in real estate is not uncommon, true teamwork and collaboration are harder to find. Real estate can sometimes be a dog-eat-dog industry, with many agents competing for clients and resources, even within the same real estate brokerages.
For new agents, this underlying sense of competition can be discouraging and can make it challenging to find mentors who are genuinely invested in their success. Even many established Realtors® can testify to past friendships that have turned to envy because of differing levels of success.
So why is competition the dominant mindset in the real estate industry, and why is teamwork more beneficial to your individual success?
Cooperation with clenched teeth.
The conventional real estate model encourages cooperation, but only to a certain degree. Much of it is person-dependent, meaning you mostly rely on other people’s good nature. Some Realtors® will give you the basics and help get you on your feet, but nobody shares their secret sauce when it comes to producing at a high level.
Why is that?
Well, a big part of this is because other Realtors — even those within your brokerage — don’t have any vested interest in your success.
When your production increases or your sell more houses, there is no tangible benefit to the agent who helped you out along the way. In fact, in many cases, the opposite is true. This creates a zero-sum type situation and overarching atmosphere of competition, where your success is perceived as a threat to the others around you.
It doesn’t have to be a zero-sum game.
So what’s wrong with competition? Well, nothing, really. So long as you assume your success is based on limited resources and individual effort alone.
But what if it doesn’t have to be?
One thing that makes the eXp model disruptive is that it actually rewards agents for the success of other agents, effectively creating a landscape where agents discover they aren’t in competition with one another but benefit from each other’s individual accomplishments.
For example, when I mentor you in your transition to eXp Realty, I receive a share of revenue on the transactions you make. This means I’m highly motivated to accelerate your growth trajectory and help you get established quickly.
As a result, you’ll find eXp agents willing to share their complete process right down to the finest details. When agents ask for my help, I’m an open book, giving them free and unlimited access to the systems I use with a proven track record of success.
The power of collaboration over competition.
Working in a collaborative landscape, you’ll discover that collaboration is a more robust and sustainable force for achieving long-term success than competition. One reason for this is that collaboration builds a sense of camaraderie that can endure and motivate you through your ups and downs.
The competitive landscape can feel lonely. Especially when you know other agents might envy and begrudge your success or even secretly relish your failures. Ups and downs in real estate are inevitable. So to succeed in the long-term, you need to operate in a team of like-minded agents who can share your wins and support you when you are down.
Not only do agents working in the eXp model have access to unlimited knowledge, they quickly discover that it feels good to work alongside others and cheer for the success of those around you.