A growing number of real estate sales agents are part of a sales team, according to a survey published by the National Association of Realtors.
This survey identifies that 26% of those responding to the survey were members of a real estate team, leaving 73% not a member of a real estate sales team.
This new sales phenomenon within the real estate industry is described and defined as two or more real estate sales people or licensees who work together to provide real estate sales services.
The conspicuous reason for the growing popularity of sales teams is that it allows individual members to shine and thrive within their own skill sets and strengths.
Another particular reason for the popularity of the sales team is the complexity of the real estate transaction, which involves social media, print, sales, staging, financing, and a multitude of other skill sets that come together in order for a transaction to come about.
Most common functions on a sales team included acting as the agent, followed by a broker, marketing, administration, and transaction coordinator.
Workloads and responsibilities are increasing and specialization is being required in the different areas of expertise.
The validation of the sales team concept is proving out within the statutory configurations, in that 24 states have statutes or regulations in place that address real estate sales teams.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.