10 BIGGEST BENEFITS TO TEAMS JOINING REAL BROKER
Top 10 Benefits To Teams Joining REAL Broker
REAL Broker is a cloud-based real estate brokerage that offers its agents many advantages over franchise brokerages. But I actually think it offers real estate teams and team leaders far more advantages than it does solo agents. In this article, I’m going to go over what I think are some of the biggest benefits to team leaders for transferring a team or starting a team at REAL Broker.
#1 Agent Training
One of the most time-consuming activities a team leader has is simply training their agents. Typically this activity does have a pretty good ROI since this will ultimately lead to agents producing more. However, it’s important to balance that against the “opportunity cost” of other profitable activities that the team leader COULD be doing instead such as recruiting agents to their team or even selling more homes themselves.
REAL Broker helps team leaders with this by taking the job of training their agents off their plate, either partially or entirely. This can free up team leaders’ time for more profitable activities!
REAL Broker has over 170+ online classes all agents at the company will have instant access to and this collection is constantly growing. REAL also has 20-30 live training sessions a week and has several weekly or monthly “masterminds” agents can attend.
So as a team leader, there are a few ways you can leverage this. One way is by being the “source of the source“. So when an agent comes to you with a question such as how do I do a buyers consultation or how do I create a business plan, you can direct them to where to find the training within REAL Broker that will help them with that problem rather than having to spend an hour going over it with them.
You can also have a requirement that every agent attends at least 1 mastermind a week or completes at least one class a week. If you want to be more active in the training, you could even assign everyone to watch the same class that week, for example, training on Nurla Linguistic Programing, and then meet up to discuss your biggest takeaways.
No matter how you decided to leverage the REAL training academy, it’s going to lead to more educated team members and free up more of the team leaders’ time.
#2 Agent Support
All team members will need support at some point. Whether it’s a question about a contract, rules, or just how to run a successful business! This is another way REAL can help teams, is by helping provide a lot of that support to its agents.
I view it as REAL offers its agents several different layers of support!
Level 1
First, REAL has a support phone number in every agent’s app which they can call anytime for immediate help! So if an agent has a question about a policy, or question about a transaction, or is waiting on a paycheck, they can get immediate help. You can also reach support through email if that’s what they prefer.
Level 2
REAL Broker has your broker’s contact information in every agent’s app. So if your agents have a local question about your state policy or contract, you can call, email or text your broker directly! You can also message your broker in Workplace AND every transaction has a chat log built into it where you can talk to your broker and processes directly about that transaction and that chat log will be saved.
Level 3
Workplace Groups can also be a valuable level of support for agents. When agents have questions about growing their business or lead generation or social media tips, this is where they can go. Unlike Facebook groups, agents here are not going to be trying to sell them their course, or getting into arguments on posts. Because most agents at REAL own stock in the company, there is a financial incentive for us to help one another out and this is evident in our Workplace groups. Also, every state has its own state Workplace Group. This can be an excellent resource for agents who have questions for or want to mastermind with agents in their state.
Level 4
REAL Also provides many other online Resources for agents including written step-by-step tutorials, FAQs, branding rules, and video guides. As a team leader, you again can be the “source of the source”. When agents have questions about REALs branding guidelines or how to set up their workplace accounts, you can send them to online resources that walk them through ste-by-step.
All these support resources give your agents a better experience and when leveraged, will free up your time as a team leader to focus on more profitable activities.
#3 Cutting Edge Technology
By joining REAL Broker, you’ll also be giving your agents access to cutting-edge technology which will help them and you manage your business, generate leads, connect with a giving community, and be more efficient!
Agent App
Agent Production
Agent Transactions
Agent Support
Revenue Share
RE Zen
RE Zen is your desktop dashboard where you can find all the same information as the app, plus more. Here you can see all of your production numbers from real estate sales, stocks you have earned, revenue share and downline information, and more.
Your dashboard is also where you create a transaction, enter the details, and upload your contract for your broker to review. Just like the app, you can see a checklist of the progress of the transaction, and all pertinent information and have a chat log with your broker for each transaction.
In the RE Zen dashboard, you can also manage your team, get access to marketing material, find links to other resources, and much more.
Workplace
Workplace is how you access the REAL Broker community! Workplace was created by Facebook so it looks like their platform BUT only people in your organization have access to it. So you won’t find vacation photos or political posts here, just REAL agents masterminding and sharing information.
In Workplace you’ll find different groups where you can ask questions or share knowledge around specific topics, you’ll find a group for each individual state for state-specific matters.
All of the training is also live-streamed into Workplace. REAL typically has 20-30 live training sessions a week hosted by its agents which you can access here as well as multiple “masterminds” a week. Masterminds are open to anyone, typically between 10-50 agents hopping on a Zoom call and talking about specific topics. Anything from social media to running teams to YouTube, like the mastermind I host monthly. These can be a great way to ask questions, meet other agents, and learn.
Workplace also has a messaging feature so after a mastermind mind or class you can message other agents you met and start networking. You’ll also find an exclusive REAL Broker referral group within the workplace which you can use as part of your lead generation strategy.
Chime
REAL Broker has a partnership with Chime, which in my opinion is one of the most powerful CRMs and Websites out there for real estate agents. Typically to have access to Chime, it starts at $500 a month. With REAL’s partnership, REAL agents get access to its full set of tools and CRM for only $40 a month!
What Chime does best is automation! For example, when a lead registers on your website, of course, Chime can set them up on an email property alert for similar homes but their AI chatbot will start texting the lead and having a conversation with them. This chatbot can get more clarification on what they are looking for, their timeline, if they are pre-approved or not, and even look at your calendar and schedule a showing with the lead based on your availability!
REAL Academy
REAL Academy is where we house all of our training for our agents. Currently, we have over 170+ online classes exclusively for REAL agents. You can also access 20-30 live streams a week here as well as access REAL’s masterminds focused on anything from video & social media to running teams to the mastermind I host focused on YouTube. These masterminds typically have 20-50 agents hopping on a zoom call and discussing a certain topic and are open to all REAL agents.
You can also access REAL’s exclusive coaching programs through the REAL academy as well.
#4 Revenue Share For Team Leaders
One additional stream of income team leaders will receive at REAL from their team is Revenue Share. If you bring in your team underneath you, they will be considered in your Tier 1 and you will receive 5% of every commission until they cap. This is taken out of the 15% that REAL takes out of their transaction. With them being on a team and having a half cap of $6,000 a year, this means you will receive up to $2,000 a year in revenue share for each capping team member you have.
So let’s say you bring over your team of 10 agents and they all cap, then you will receive an additional $20,000 a year in income from revenue share.
If any agent on your team brings in a capping agent into REAL, those agents will be considered in your tier 2. If they are not on a team and pay a full cap, then you will receive up to $3,200 a year from your tier 2 agents. This will continue going down 5 tiers. Pretty soon, your revenue share could grow into a significant stream of additional income for you. Also, if your team members ever leave your team but stay with REAL, you’ll continue to receive revenue share on them and any one in their downlines for as long as they are with the company.
#5 Revenue Share For Team Members
By moving your team over to REAL, you are also giving them access to revenue share as well. With revenue share, if they can bring in 2 or 3 agents into REAL, that could be an extra $8,000 to $12,000 a year in income which can be very significant for many agents on a team. That’s a car payment right there or an extra vacation for their family. They even have the opportunity to bring in more agents than that and their revenue share could even exceed their commissions one day.
The “golden handcuff” concept also applies here. For many team leaders, agent retention is a big struggle. But if your team members are receiving revenue share, they are far more likely to stay at REAL and on your team to continue receiving that revenue share. This could have a big impact on your agent retention.
#6 Free Stock For Agents
Team members at REAL Broker have 3 ways they can earn free stock in this company. This free stock does have a 3-year vesting period which will help out with your agent retention for your team with the “golden handcuff” principle. If your team member has $20,000 worth of free REAL Broker stock waiting to be vested, they are far less likely to leave.
The first way your agents can earn free stock is simply by capping. With a standard team, their cap will only be $6,000 a year and it is relatively easy for an agent on a team to cap.
The second way is by sponsoring an agent in the company. The sponsor will receive a revenue share as well as free stock when the new agent closes their first transaction.
The third way your team members can earn free stock is by them purchasing stock directly out of their commissions. Currently, they can earn up to 30% free bonus stock on top of their purchase.
#7 Lower Cap For Agents
As a team member, an agent’s cap is cut in half. So team members pay REAL 15% of their commissions until they have paid $6,000 and are fully capped. This is typically about 3 to 4 transactions a year for an agent to fully cap. Once they cap, they no longer have to pay REAL the 15% and they receive their stock capping reward.
For many team members, this can be significantly less than what they would pay as a team member at other companies which means more money in your agent’s pockets! This to can also help with agent retention for team leaders.
#8 Flexibility In Team Structures
REAL offers 3 different types of team structures. The standard team, the marketing group, and the domestic team.
A domestic team is two family members, typically husband and wife, who act as one agent. They only pay 1 cap and have 1 account with REAL.
The Standard Team is the most common team structure and consists of a team leader who pays a full cap and team members under them who pay a half cap. There are some requirements for this team though. The team leader must have closed at least $5M in volume in the last 12 months and must take at least 25% of their team members’ commissions. ( There are some exceptions to this 25% rule granted for teams)
A Marketing Group has the most amount of flexibility out of all the teams. Each member has a full cap and your team agreement is not reviewed or held with REAL. This means you can work out any sort of arrangement you like. You can charge your agents a flat monthly fee, or a sliding % on each commission or you can just all share business and marketing expenses. Marketing groups can expand across state lines as well which means you can partner with agents around the country and advertise as a national team.
#9 Easier For Team Leaders To Hit Elite Agent
REAL Broker gives its Elites Agents up to $24,000 in free stock in the company a year for hitting this milestone and reduce their transaction fee to $100/ea. In order to hit Elite Agent you need to first cap and then pay $6,000 in “post-cap transaction fees”. The transaction fee is $285 which means you need to close 21 transactions after capping.
However, this milestone is a lot easier for Team Leaders. This is because whatever % split you have with your agents, that % of their paid transaction fee goes toward your $6,000 transaction fee cap. So if you take 50% of your team’s commissions, then $142.50 of their transaction fee goes toward your cap.
So this means as a team leader, instead of caping and then closing 21 transactions to hit Elite Agent, you could, for example, cap and close 10 transactions, and your team close 21 transactions on a 50% split.
#10 Joint Venture Opportunities
One of the biggest benefits of REAL broker is access to additional streams of income. One of those streams of income is Joint Venture in REAL Title in your state. You would essentially own a portion of the title company and they would pay our profits to you quarterly. If your entire team uses REAL Title, then you will receive more profits quarterly from your ownership in the company. As a team leader, you also have the ability to buy more shares of your state’s REAL Title company than a solo agent can.
Check out these other REAL Broker articles
Real Broker Revenue Share Explained
REAL Broker Fees, caps and splits explained
REAL Broker Stock Awards Explained
Teams At REAL Broker Explained
REAL Broker VS eXp In-Depth Comparison