Module 1 ~ Lesson 7

Lesson 7: Know Your Company Policies & State Requirements

 

Know Your Company Policies

  • Is your company supportive of teams?
  • Talk to your broker or manager before you start building a team
  • Be aware if any in-house recruiting or other team polices
  • Team branding with the company

State Regulatory Issues

  • Naming of teams
  • Any disclosure requirements
  • Advertising guidelines

Opportunities: Win – Win – Win – Win (Potential)

  • Team Leader
    • Increase revenue, profitability
    • Leverage time & resources
  • Team Members
    • Stability, increased productivity and commissions
  • Clients
    • Enhanced Service and Experience
  • Company
    • Increase Production & Market Share
    • Development of stronger individual agents
    • Teams attract and recruit agents from outside company

Potential Challenges with Teams

  • Recruiting from within company
  • Recruiting between in-house teams
  • Awards & Recognition (Individual & Team Categories)
  • Disputes, terminations and dissolution
  • Legal liability / risk

Company Team Policy Considerations

  • Team definition – A “Team” is comprised of two or more “Company” associated licensees who choose to regularly work together under an understanding and agreement
  • Recruiting within brokerage – existing policy – brokers decision on exceptions – possible commission sharing
  • Written Agreements – required and approved by Broker/Manager. Use Team Declaration and Application and Team Dissolution/Termination Notice forms
  • Production Awards – individual production will be credited only towards the Team or Team Leader, not the individual.
  • Branding / Team Names – individuals will not be building their own personal brand, which will be replaced by the branding of the Team or Team Leader. Team must follow state real estate guidelines for team names if applicable.
  • Commission disbursement – Team must use and sign off on a team commission disbursement agreement/form for each transaction that has commissions shared
  • CAP agreements – Broker level decision on CAP agreements utilizing the individual income/fees of the team associates

Module 1 - Lesson 1

Introduction to Real Estate Team Building 

Module 1 - Lesson 2

Primary Focus Areas for Team Building

Module 1 - Lesson 3

The Four Archetypes and How They Fit

Module 1 - Lesson 4

Six Components of a Successful Business

Module 1 - Lesson 5

Two Critical Keys to Team Building

Module 1 - Lesson 6

Agent Team Models

Module 1 - Lesson 7

Know Your Company and State Requirements

Module 1 - Lesson 8

Let’s Get to Work!

If you have not already done so, go to the Module 1 Overview page and download the Workbook, Slide Decks, and all related Documents for this module.

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