{"id":15206,"date":"2020-03-25T13:55:04","date_gmt":"2020-03-25T20:55:04","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=15206"},"modified":"2020-03-25T13:55:04","modified_gmt":"2020-03-25T20:55:04","slug":"buyer-real-estate-team","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/buyer-real-estate-team\/","title":{"rendered":"First-Time Home Buying 101: Do I Hire a Real Estate Team or Single Agent?"},"content":{"rendered":"<p>You\u2019ve made the decision: It\u2019s time to start shopping for your <a href=\"https:\/\/www.homelight.com\/blog\/buyer-documents-needed-for-mortgage\/\">first home<\/a>. It\u2019s an exciting time! Now you need to find a real estate agent.<\/p>\n<p>When you start looking, you discover that not only is there a huge pool of single agents to choose from, there are real estate teams as well. So which is better \u2014 hiring a single agent or hiring a real estate team to help you with your first home purchase?<\/p>\n<p>Both a single agent and a team will help guide you through the process, but your experience working with a team could be different than working with a single agent. Here\u2019s what you should know about working with a real estate team as a first-time homebuyer.<\/p>\n<figure id=\"attachment_15208\" aria-describedby=\"caption-attachment-15208\" style=\"width: 700px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-agent.png\" target=\"_blank\"><img decoding=\"async\" width=\"666\" height=\"381\" src=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-agent-666x381.png\" class=\"attachment-content size-content\" alt=\"A real estate agent.\" srcset=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-agent-666x381.png 666w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-agent-64x37.png 64w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-agent-128x73.png 128w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-agent-192x110.png 192w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-agent-432x247.png 432w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-agent-500x286.png 500w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-agent.png 700w\" sizes=\"(max-width: 666px) 100vw, 666px\" \/><\/a><figcaption id=\"caption-attachment-15208\" class=\"wp-caption-text\">Source: (Eye for Ebony \/ Unsplash)<\/figcaption><\/figure>\n<h2>The agent model<\/h2>\n<p>Working with a single or solo agent is pretty self-explanatory \u2014 you have one agent, one point of contact who will take care of your needs directly.<\/p>\n<p>A solo agent will usually set up an initial meeting with you to go over your homebuying goals and list of wants and needs. They will find homes for you to look at using the <a href=\"https:\/\/www.homelight.com\/blog\/buyer-what-is-the-mls-multiple-listing-service\/\">MLS<\/a> and will send you those homes for review.<\/p>\n<p>Usually, they will accompany you to <a href=\"https:\/\/www.homelight.com\/blog\/buyer-open-house-etiquette\/\">open houses<\/a> and chat with the listing agent (if they\u2019re present). If they don\u2019t attend open houses with you, they\u2019ll be personally available to make offers on your behalf if you view a house that you love.<\/p>\n<p>Single agents work closely and personally with buyers from start to finish in the homebuying process. \u201cIf you\u2019re nervous about the process, having a solo agent who has their finger on the pulse of everything, there\u2019s value there,\u201d explains Princeton, New Jersey-based agent <a href=\"https:\/\/www.homelight.com\/agents\/christopher-norton-nj-1646639\">Christopher Norton<\/a>.<\/p>\n<h2>The team model<\/h2>\n<p>With a real estate team, the process is a little different. All the duties listed above that a single agent would do themselves are divided up among team members.<\/p>\n<p>Real estate teams consist of two or more agents who work on clients\u2019 behalf, and often include support staff to help with administrative work. Teams often also include buyer\u2019s agents and listing agents who function separately.<\/p>\n<p>Other duties of a real estate team that are split up among members can include:<\/p>\n<ul>\n<li>Marketing<\/li>\n<li>Lead generation and follow up<\/li>\n<li>Administrative duties<\/li>\n<li>Transaction coordination<\/li>\n<li>Running <a href=\"https:\/\/www.homelight.com\/blog\/buyer-open-house-tips\/\">open houses<\/a><\/li>\n<li>Managing the office<\/li>\n<li>Coordinating buyer lending<\/li>\n<li>Legal review<\/li>\n<\/ul>\n<p>Dealing with a real estate team can have its advantages, but you should be prepared to be in contact with several different people throughout your <a href=\"https:\/\/www.homelight.com\/blog\/buyer-open-house-tips\/\">homebuying journey<\/a>.<\/p>\n<p>It\u2019s possible that you\u2019ll meet with the lead agent at the beginning, then transition to a different point of contact for <a href=\"https:\/\/www.homelight.com\/blog\/tips-for-showing-a-house-for-sale\/\">showings<\/a> and <a href=\"https:\/\/www.homelight.com\/blog\/buyer-what-happens-at-an-open-house\/\">open houses<\/a>. Many lead agents work closely with clients at the beginning of the process, then have designated agents within their company who handle showings.<\/p>\n<p>\u201cSince Valerie and I are the broker-owner-agents of our company, we have three other agents that support us as needed \u2014 for example, open houses, extra showings, things like that,\u201d says Omaha-based real estate agent <a href=\"https:\/\/www.homelight.com\/agents\/don-keeton-ne-0780140\">Don Keeton<\/a>.<\/p>\n<p>If you\u2019re comfortable working with several different people during the buying process, a team might be the right choice for you. However, if you feel more comfortable only dealing with one agent, the single agent model might be a better way to go. It all depends on personal preference and comfort level.<\/p>\n<p>Regardless of your preference, make sure you are clear about what your agent\u2019s business structure looks like. There\u2019s nothing more jarring than thinking you\u2019re going to an open house with your agent, only to have a different agent show up in their place.<\/p>\n<h2>How many teams are there?<\/h2>\n<p>According to a recent survey by the National Association of Realtors, <a href=\"https:\/\/www.nar.realtor\/partnerships-teams\">26% of agents who responded worked on a real estate team<\/a>. The average number of people on a real estate team is four, and 29% of teams consist of just two people. On real estate teams, 80% said everyone on their team holds a real estate license. The most common function of team members on a real estate team is \u201cagent,\u201d with a whopping 88% clocking in with this title.<\/p>\n<figure id=\"attachment_15209\" aria-describedby=\"caption-attachment-15209\" style=\"width: 700px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-team.png\" target=\"_blank\"><img decoding=\"async\" width=\"666\" height=\"381\" src=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-team-666x381.png\" class=\"attachment-content size-content\" alt=\"A real estate team.\" srcset=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-team-666x381.png 666w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-team-64x37.png 64w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-team-128x73.png 128w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-team-192x110.png 192w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-team-432x247.png 432w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-team-500x286.png 500w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-team.png 700w\" sizes=\"(max-width: 666px) 100vw, 666px\" \/><\/a><figcaption id=\"caption-attachment-15209\" class=\"wp-caption-text\">Source: (Arlington Research \/ Unsplash)<\/figcaption><\/figure>\n<h2>Do you pay more for a team than a single agent?<\/h2>\n<p>One of the advantages of hiring a real estate team is that you don\u2019t pay more for a team than an agent. So if you\u2019re comfortable with dealing with several different people, you\u2019re getting however many people are on the team for the price of one.<\/p>\n<p>However, some team agencies do charge a slightly higher <a href=\"https:\/\/www.homelight.com\/blog\/real-estate-agent-commissions\/\">commission<\/a> than single agents to compensate for the fact that they have to split the proceeds among team members.<\/p>\n<p>\u201cTypically, agents with teams are going to charge a higher commission because there\u2019s more pieces coming out of the pie,\u201d explains Keeton. \u201cIn most real estate markets, the commission is 5% or 6%, and that commission is split four ways: listing broker, listing agent, selling broker, and selling agent. But when you add in an extra team member, then it\u2019s split five ways.\u201d<\/p>\n<p>So when dealing with a team, the commission might be slightly higher than with an individual agent. But it will not be higher than the going range of commissions for the market \u2014 it will just be on the high end of that range. Teams can keep their commissions relatively low because they are able to handle more transactions at once.<\/p>\n<h2>When should you hire a team?<\/h2>\n<p>You should hire a real estate team if you don\u2019t mind dealing with more than one person throughout the homebuying process. Essentially, you\u2019re getting multiple agents for the same price you\u2019d pay for a single agent. So as long as you don\u2019t mind possible switching points of contact and different agents on the team leading you through open houses, a team might be the way to go.<\/p>\n<p>Teams are also often able to provide 24\/7 care to their clients because they\u2019ve got more hands on deck \u2014 something that an individual agent won\u2019t necessarily be able to do. Depending on how tasks are split up among team members, you\u2019re likely to get more focused attention because the agent isn\u2019t splitting time doing administrative work or trying to juggle more clients than they can handle. So though the team is likely taking on more listings than a single agent, that probably won\u2019t affect the attention you\u2019ll get.<\/p>\n<p>The lead agent in the company might also be able to provide you with more attention because they\u2019ve delegated other duties to their employees. \u201cWe\u2019ve managed to go 44 years without one complaint,\u201d says Keeton, \u201cbecause we give 100% excellent customer service.\u201d<\/p>\n<figure id=\"attachment_15210\" aria-describedby=\"caption-attachment-15210\" style=\"width: 700px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-meeting.png\" target=\"_blank\"><img decoding=\"async\" width=\"666\" height=\"381\" src=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-meeting-666x381.png\" class=\"attachment-content size-content\" alt=\"A meeting with a real estate agent.\" srcset=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-meeting-666x381.png 666w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-meeting-64x37.png 64w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-meeting-128x73.png 128w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-meeting-192x110.png 192w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-meeting-432x247.png 432w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-meeting-500x286.png 500w, https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2020\/03\/real-estate-team-meeting.png 700w\" sizes=\"(max-width: 666px) 100vw, 666px\" \/><\/a><figcaption id=\"caption-attachment-15210\" class=\"wp-caption-text\">Source: (Amy Hirschi \/ Unsplash)<\/figcaption><\/figure>\n<h2>When should you hire an agent?<\/h2>\n<p>If you prefer working one-on-one with someone throughout your entire homebuying process, a single agent is probably the way to go.<\/p>\n<p>An agent will be able to hold your hand from initial meeting through to closing, and you won\u2019t have to deal with different people handling open houses, making offers, or fielding phone calls.<\/p>\n<p>\u201cThere\u2019s a continuity between showings and transactional cycles that I think is advantageous when you\u2019re working with a solo agent,\u201d says Norton.<\/p>\n<blockquote><p>\u201cFrom the time you first meet until the time you get the keys, they are involved in every step of the process.\u201d<\/p><\/blockquote>\n<p>If something goes wrong during your search, there\u2019s just one person to hold accountable \u2014 no passing the buck or blaming someone else if mistakes are made or communication breaks down.<\/p>\n<p>Another instance where an individual agent could be the right choice is if that agent specializes in the type of home or area where you want to live. Agents who specialize will be able to provide their expertise, and if there\u2019s a specific area you\u2019re looking at, an agent who specializes will have inside knowledge on that location.<\/p>\n<p>And agents who work individually usually have space in an office with other single agents, so it\u2019s not like they\u2019re on an island. Agents within the same office share leads and advice, which provides a level of support.<\/p>\n<p>Ultimately, the choice of whether to hire a single agent or an agent team comes down to personal preference. If you know you\u2019re going to need more personalized attention during your search, you might want to choose a single agent. If you\u2019re okay with dealing with a few different people for showings and some of the administrative tasks, a team could be the way to go. HomeLight\u2019s <a href=\"https:\/\/www.homelight.com\/buying\">agent finder tool<\/a> can help you to find both teams and single agents, so check it out to get started on your search!<\/p>\n<p><em>Header Image Source: (Parker Byrd \/ Unsplash)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You\u2019ve decided to buy your first house, but aren\u2019t sure whether to hire a real estate team or a single agent. We\u2019ve got the scoop on how they both work.<\/p>\n","protected":false},"author":160,"featured_media":15207,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[192,640,638],"tags":[],"class_list":["post-15206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-buyers","category-work-with-agents","category-house-hunting"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>When to Hire a Real Estate Team as a First-Time Homebuyer<\/title>\n<meta name=\"description\" content=\"You\u2019ve decided to buy your first house, but aren\u2019t sure whether to hire a real estate team or a single agent. We\u2019ve got the scoop on how they both work.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.homelight.com\/blog\/buyer-real-estate-team\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First-Time Home Buying 101: Do I Hire a Real Estate Team or Single Agent?\" \/>\n<meta property=\"og:description\" content=\"You\u2019ve decided to buy your first house, but aren\u2019t sure whether to hire a real estate team or a single agent. 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