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Comparing a Team of Realtors to a Solo Realtor

by Team for YOUr Dreams

From Tim Burrell:  I started as a Realtor 27 years ago, when every Realtor tried to be everything to the clients.  You prospected for clients, showed them homes or listed their home, handled advertising, held open houses, wrote up offers, negotiated, got papers signed, handled the details from contract to closing,  went to inspections, took care of the follow up paperwork, handled the termite work, dealt with the closing attorney, did the walk through, attended the closing, and did everything else, even cleaning the house when necessary.  No one knew any better.  There was a lot less to do, as the Multiple Listing Service was a book with one picture, there was no Internet with virtual tours, and no one communicated by email, text message and podcast, there wasn't voice mail so you called until you connected, the sales contract was two pages long and there was almost never any problems or litigation after a sale.  Clients had to wait for me to finish one task before I could help with their needs.

My Team now has eight members.  Each one is a specialist, and expert at what they do.  I list and sell homes, representing Sellers.  Liz helps with the listings, doing a great deal of the graphics, Internet marketing, trips to the houses and follow up.  Anthony, Danyelle, Suzanne and Mary represent Buyers, helping them to buy homes.  Melanie handles the sales for our buyers and sellers from the point that contracts are signed until the sale is closed.  Each one of us provides much more service, as the checklists for each specialized job is longer than my original checklist for an entire transaction.  The clients are much happier, as there is a lot more "manpower" providing more service more quickly.  If I do not answer an email within a couple hours, my clients wonder what happened.  Most replies to email come back from me in minutes.  If I do not return a call the same day,  I have told my clients there are two possibilities (1) I did not get the message or (2) I died.

No one person has the range of talents to do all these jobs as well as our specialists, even if they had the time.  My personality is dramatically different from Melanie's.  She loves to pay attention to detail, make lists and check off each item as it is accomplished.  I prefer the big picture, developing the strategies and negotiating my way through the issues.  She is perfect for the detail from contract to closing, while I would not do as well multi-tasking all the details.  I am better at developing the strategies to get a home sold and negotiating everything until the concepts are set in place to get an agreement.    Each of us is doing what we do best, and the client gets a better result because we are the right person for that portion of the job.

An easier way to understand this is to relate it to baseball.  The pitcher has different talents from the catcher.  The first baseman would not be the best center fielder.  This analogy makes it easy to understand the difference between our Team and a solo agent who tries to do everything alone.  We have an entier Team to cover all the bases, right field, center field, left field, pitching and catching.  The solo agent tries to have one person cover the entire field and play all the positions.  No one agent can provide the level of coverage, service and protection of our Team.

It is a great deal more expensive to provide a Team than to be a solo agent.  Yet, we get the benefit of repeat clients and new clients who are referred by our past clients.  Also, we love the thank you notes, letters and emails.  While it costs a lot more, it provides a lot more, and the business grows because of the additional service.  You have seen my other posts about discount real estate firms, and they are a choice for some consumers.  Some consumers would ask their General Practitioner Doctor to do a heart transplant if it saved them money.  I want a heart transplant specialist, along with the team that the specialist has trained.   If you are a person who enjoys full service, the security that goes with it, and the higher level of success in your purchase or sale, you would prefer being represented by a complete Team. 

By Tim Burrell.  Downtown Raleigh real estate is going through a great transformation.  A new Convention Center is under construction, along with a major Marriott hotel across the street to provide rooms for visitors to the conventions.  This will provide business and visitors for downtown.  But, this is not the most important change, which is the new style of living downtown.

By October of 2008, there will be 3,000 new condominiums completed or under construction in or near downtown.   For example, the RBC Plaza is a 33 story mixed use building on Fayetteville Street where the first floor is retail commercial, the next 7 floors are parking, floors 9 through 22 are parking, and floors 23 to 33 provide 173 condominiums.  These properties command premium prices from the high $200,000's to $760,000 for a top floor corner three bedroom condo with about 2,000 square feet.  They have a great website at  http://www.rbcplazacondos.com .   Another example is West at North, as the name implies located on the corner or North and West Streets.  It is a 17 story building that provides 170 condominiums, with one and two bedrooms.  Some of the two bedrooms have a den with a closet, so they could be three bedrooms.   For more information, visit  http://www.westatnorth.com/

This type of skyscraper condominums is new to Raleigh, so you may wonder if there is a big demand for them.    The RBC Plaza has every unit reserved with back up reservations, so they expect them all to be sold when they start taking non-refundable deposits in the next few weeks.  West at North is just barely past the foundation stages, and they have already sold 60 units, so they are about to increase the sales prices.  One of the completed projexts, the Hudson located on Fayetteville, has 64 units and only 9 remain for sale.  The Hudson has 1 and 2 bedroom units, with one parking space per unit.  To give you an idea of how different this product is, the price per square foot ranges from around $200 to $450.  By comparison, the average price for single family homes selling in Raleigh is $112 per square foot.

Who is buying these properties?  The majority are singles, with ages between 30 and 40.  Many of them come from other big cities, like New York, Boston and Miami.  Another large group of buyers is from Eastern North Carolina, with ties to various places downtonwn, like NC State or that appreciate the arts, museums and other downtown activities.  They are buying these properties for a home base, and a place to entertain,  when they are in town. 

Downtown Raleigh will become an even more vibrant place to visit, and a place live for many of those who like Urban Living.   For more detail on what is happening downtown, visit http://www.DowntownRaleigh.com

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Contact Information

Photo of Team For Your Dreams, Inc. Real Estate
Team For Your Dreams, Inc.
REMAX United
7721 Six Forks Road, Suite 110, Raleigh, NC 27615
Raleigh NC 27615
919-846-3272
919-812-5111
Fax: 310-347-4041