Excerpt from episode 47 of the YouTube series Real Estate Team OS (featuring Sean Getty). The speaker argues that brokerages favor teams because teams have much higher agent retention and provide better training compared with solo agents, citing a 91% overall failure rate in real estate versus an estimated ~30% failure rate on teams—implying teams drive greater profitability and will become more prominent.
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Most brokerages give a discount to teams, right? So like on the brokerage fees and what happens is they realize that the teams are way more profitable than solo agents because the agent retention is far higher on teams. So I think as brokerages start to figure this out and learn about it, the brokerages are going to promote teams more and more and more and more. There's a 91% failure rate in real estate. If nine out of 10 people fail in this business. The brokerages are doing a terrible job training like it just, it is like a 90%. It is what it is. That's can't hide that. If teams do a better job training and the retention is better and you're, you've got like maybe a 30% failure rate on a team that's like a, a wildly large improvement. So I think teams are just going to be more prominent and bigger and they're going to be more impactful as we go on and they're needed because they need the training. That training probably did exist in the 60s, 70s and 80s and then it, it, it just doesn't Now.
Sean Getty shares the trials, failures and successes of his team building journey on episode 47 of Real Estate Team OS.