I had just landed in Mexico when my phone started blowing up. A client needed to see a house— and of course they needed to see it immediately. Another agent was asking for an open house on the condo for the 3rd weekend in a row. A title company had a question about closing documents. In the past, I would have gone straight into panic “let’s get it done” mode, trying to balance piña coladas with last-minute texts and frantic calls.
I have tried being a solo agent, team, and everything in between, but let’s face it the market is tough right now. But, I now understand that if I don’t have a network of agents I trust, I’m either missing out on deals or burning myself out. I don’t have to be on an island as a solo agent by myself, and I can leverage technology and a network of agents I trust so I’m not missing out on a deal or finding myself working 24/7 and burning out.
So, I’ve made a change. Instead of trying to handle everything alone, I’ve leaned into collaboration mode —leveraging alliances with other agents for showings, structuring the team differently, and even pooling resources for marketing. Right now, it’s not just about working smarter; it’s about survival.
This is the future of real estate.
Rising competition, changing commission structures, and the general unease in the country right now economically have created a market where collaboration is no longer a luxury, but truly a necessity. Informal alliances and structured team models are emerging as productive strategies for survival and success. But how do you balance cooperation with competition, and ensure that your hard work doesn’t go unrewarded and friendships within the community stay secure?
Buyers and showings are the most time-consuming pieces of the business. While managing listings can be relatively straightforward, handling multiple buyers requires a significant amount of time and effort. For instance, an agent can easily manage 30 listings simultaneously, but having just five active buyers can be overwhelming. This is where collaboration comes into play.
Informal alliances: The Uber of real estate
One of the best approaches to collaboration is the rise of showing services that operate much like Uber. These platforms allow agents to show homes to anyone, ensuring that properties are always accessible to potential buyers. This model often involves a fee per door, hourly rate, or a percentage of the total commission, where the hired help stands to make a paycheck while the primary agent isn’t losing the client or commission. This not only ensures that business is covered when an agent is unavailable but also provides a flexible and efficient way to manage showings.
Structured team models: Exponential growth
When recruiting a talented real estate agent, their skill or current knowledge vs how they are compensated somewhat resembles a hockey stick. New talent is brought in at a lower cost, emerging talent is compensated slightly more, and proven talent retains a larger share of their commissions. This tiered approach allows teams to attract and retain top performers while fostering a collaborative environment that benefits everyone involved.
“The price is right”: The power of collective insight
One aspect we’ve implemented as a team is a weekly “The Price is Right” gathering. One of the best potentials of team collaboration is the collective insight it provides. For example, when multiple agents from a team come together to analyze a listing, they can offer a unified market analysis. This not only strengthens their pitch to sellers but also provides a level of assurance that the advice is well-rounded and informed. Sellers are more likely to trust a team’s consensus over a single agent’s opinion, making it easier to secure listings.
Evolving team dynamics for marketing
Networking to your database in real estate is evolving. The days of hosting a happy hour and hoping a few clients show up are fading. Now, top-performing teams are investing in high-quality events that draw clients and their friends in.
Rather than each agent hosting small, ineffective events on their own, teams are pooling resources to create memorable, large-scale experiences. Instead of a basic happy hour, they’re reserving entire venues, hiring professional photographers, and offering exclusive experiences that clients and colleagues actually want to attend. My team, for example, rented out the Denver Zoo after hours, inviting guests to take photos with team cutouts, snap selfies with animals, and even win a free zoo membership. Rather than giving away a hair dryer, we are giving away a flight in a semi- private jet and a weekend stay in Las Vegas. Say what you want, it makes the phone ring.
Balancing cooperation and competition
While collaboration is essential, it’s equally important to ensure that your efforts are rewarded. Here are some strategies to balance cooperation with competition:
- Clear Communication: Establish clear agreements on how commissions will be split and how responsibilities will be divided.
- Mutual Benefits: Ensure that all parties benefit from the collaboration, whether through increased exposure, shared resources, enhanced client experiences, or as we say straight cash homie.
- Client Retention: Focus on delivering exceptional service to retain clients and encourage referrals. Word-of-mouth is still a powerful tool.
The future of real estate is collaborative. As agents navigate the challenges of a changing market, working together is no longer just beneficial—it’s necessary. By embracing informal alliances and structured team models, agents can not only survive but thrive in this new landscape. As the industry continues to evolve, one thing is clear: the days of the solo agent are behind us, and the era of collaborative real estate has kicked off.
Mike Bruce is a member of DMAR’s Board of Directors, where he holds a leadership role and contributes to the success and advocacy efforts of the association.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.To contact the editor responsible for this piece: zeb@hwmedia.com
