A "Team" of One

"What You See is What You Get"

I've written previously about real estate teams ("Teaming Up"), and the pro's and con's.

So it was interesting to me, during my most recent listing presentation (they hired me), to hear my now-client express a strong preference not to work with a(nother) real estate team.

Their reason(s)?

On their previous deal, they never seemed to talk to the same person twice, and nobody seemed to know what was going on with their transaction.

One vs. Many

Of course, not all real estate teams are chaotic or unwieldy.

But as someone who operates "solo" (kind of -- see next), I can assure my clients, honestly, that if they hire me . . . they get me.

That means I'm the one who walks them through the Seller disclosures; analyzes the Comp's and helps fine-tune the list price; prepares the marketing materials; instructs the photographer; debriefs other Realtors after showings; hosts the Broker Open and most (if not all) of the Sunday open houses, etc., etc.

In brief, I always know what's going on, and my client(s) will have exactly one point of contact.

Not Really Solo

Of course, it's also the case that, through my association with Edina Realty, I actually have a huge organization of professionals supporting me (sort of like the Sprint network, pictured above).

That includes a superb office manager, Josh Kaplan; an outstanding front desk and OA (Office Administrator); Edina's knowledgeable legal department; great tech support, etc.

And although I don't refer to them as "team members," I have also developed a circle of expert stagers, photographers, and desktop publishers that I regularly work with.

Down Time

So don't I ever take a vacation?

Not often enough, but yes, I do take off an average of 2-3 weeks a year, usually a long weekend at a time.

Who covers for me then?

Like other veteran Realtors, I'll typically "trade" coverage with another colleague for those things -- like doing a showing -- that can't be done remotely.

In return for their backstopping me when I'm out of town, I'll do the same for them.

Virtual Real Estate

But the surprise the last several years is, thanks to technology ("Look Ma! No Hands!"), how many modern real estate tasks can be done remotely ("virtually").

Even when I'm out of town, I'll regularly scan MLS for new listings that meet my (Buyer) clients' criteria, and won't hesitate to email them if something promising pops up (I'm actually not such a fan of searches that automatically email clients directly -- I like to weed out the "chaff" first).

It's also the case that, for something critical like fielding or negotiating an offer, my clients know that I'm never more than a phone call away.

P.S.: it's accepted real estate wisdom that the best way to sell a property is to head for the airport on vacation.

One Sale . . every 5 hours?!?

WSJ/Real Trends
Top 100 Agents

Today's Wall Street Journal is running a list that purports to rank the nation's top 100 Realtors.

Actually, it has four lists -- hence the (slightly confusing) title, "Top 400 Sales Professionals."

The four categories are:

1. Top 100 Agents by transaction sides (representing either a Buyer or Seller)
2. Top 100 Agents by volume
3. Top 100 Teams by transaction sides
4. Top 100 Teams by volume

Background

The distinction between volume and transaction sides is important, because otherwise the top 100 Realtors would all hail from the most expensive markets.

Likewise, it's important to distinguish between individual Realtors and teams.

Also known as "groups," they can encompass as many as a dozen Realtors, and therefore warrant their own category.

So it's especially astounding to see that the top individual agent nationwide by number of deals was someone named Joe Kadaff, who works for RE/MAX in Dearborn, MI.

According to the WSJ, Kadaff closed an astounding 1,743 transaction sides.

That works out to one sale every 5(!) hours, 24 hours a day, 365 days a year.

Phew! (or as the locals would say, "uff-dah!")

(And no, I don't know how it's humanly possible for one Realtor to close that many deals.)

Minnesota Angle

So how did Minnesota Realtors do?

And do the numbers check out?

Minnesota placed three Realtors in the Top 100 agents list: Barry Tanner (#72); Kurt Christensen (#96); and James Onomiya (#98). (Note: Tanner and Onomiya are with Edina Realty.)

They're credited with 135, 109, and 107 transaction sides, respectively.

To double-check those numbers, I searched MLS under each agent's ID, as both listing agent and selling agent, for all deals closed during 2009.

I came up with 126 transaction sides for Tanner (vs. the reported 135), and 114 for Christensen (vs. 109).

Close enough.

However, I could only find 67 transaction sides for Onomiya (vs. the reported 107).

Since the WSJ doesn't report its methodology or even the time span measured, it's hard to know what accounts for the difference.

Other Observations

Virtually all of the transaction sides for Tanner and Christensen -- and the majority for Onomiya -- were as listing agents.

That's because they represented banks selling foreclosed properties.

But what really caught my eye, in small type in the upper right corner of each list, was the disclosure "Special Advertising Section."

Bingo.

Sure enough, a handful of agents on each list had links from their names to their Web sites.

Which would explain why the list was compiled, and who it's being marketed to.

(No doubt the brokers are being solicited to promote their standings on the list, as well.)