Words to Watch: Coach and Team
Of course there is nothing inherently wrong with either of these words. But brokers shamefully use these terms to mislead potential clients about their role and how they conduct business.
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Ten or twelve years ago, the word team really took off in the real estate world. Any broker with an assistant all of a sudden started referring to her team. Like headshots on a business card, some broker somewhere thought this was a good idea, and the herd followed. It is, I think, a sort of marketing ploy: Hire me, and you get not only me, but my entire team.
In our divided times, sports seem to be a uniting influence. We all watch sports and cheer for our teams, some of us play sports, and many of us encourage our kids to get involved in sports. Team sports and individual sports. Even in individual sports, like golf and tennis, kids play on a team. Kids learn the values of good sportsmanship, fair play, healthy competition, and hard work. And yes, teamwork.
So we all feel good about sports and teams. And these brokers want to tap into that: I am not working alone here, I have a team. And just like a football team, each team member has a role. But the true benefit for you, dear potential client, is how we all work together to achieve your goals.
And look, I really don’t have a problem with that….
Assuming it’s true.
But the most frequent experience our firm has dealing with real estate teams, is one of pure dysfunction.
A successful real estate broker is a much different animal than a competent manager. Let me put that slightly different: Just because one is a successful real estate broker, that does not make one a good manager. This managing business is a whole different skill set.
But here’s what happens: Very successful brokers will hire people to help them. You expect that of course. First an assistant, then a buyer’s agent, then a listing coordinator, then a transaction coordinator, then another assistant. You see how this grows. And rightfully so. If a broker is successful, he or she cannot do it alone.
Now to me, the definition of a smart person is one who knows or recognizes what he does not know. And I would expect a smart successful broker to recognize that as well: Hey, while I might be a successful real estate broker, I really don’t know much about management.
And then they have two choices. Either acquire management skill or hire it out. Yes, they can turn some of their focus away from brokering real estate to managing people. Or, they can simply hire a manager.
Now, which one of these choices do you think they make?
Well I am very sorry to report, the answer is neither. They do not turn some attention to management. My God, that would take time away from Job Number One: Client Acquisition. And because they overestimate their own abilities, they also neglect to hire a manager.
The result is pure dysfunction.
Wait, I said brokers shamefully use the word team to mislead potential clients about their role and how they conduct business. But while these brokers may be incompetent managers, they are operating a team (if not as a team). So what did I mean by mislead?
Well, take two brokers, partner them together, and what have you got? A team. Married couple selling real estate? A team.
And then there’s this: Take a solo broker, who wants in on this whole team shtick, but does not have the business. So what does she do? Oh heck, she’s got a team too. She has the Broker-in-Charge of the firm where she hangs her license. She has the firm’s receptionist and assistant and bookkeeper. Plus, she has her go to attorney, and her go to home inspector, and her go to handyman. All team members in good standing. So in reality it may just be Rachel Brown, Broker, but by golly, she promotes herself as: The Rachel Brown Team. Of course she does.
So hire a team if you like. But watch for both of these: Dysfunctional teams and illusory teams.
Now, briefly, about the term: coach.
Some brokers will refer to themselves as a coach, as in Jon Brown, your real estate coach. I guess the idea is that they are going to coach the buyer or seller through the process. And hey, maybe that is true. I suppose there are worse ways to describe what real estate brokers do.
But make no mistake about it, just like the team brokers, these guys want you to associate them with the feel good sports analogy.
Personally, I view real estate brokers less as coaches and more as consultants. What’s the difference? Well to me it is a question of who is working for whom? Just a thought.
But hey, if you like the sports analogy, go with it.