The Benefits of Partnerships

Courtney Self
Broker, Author & Speaker

I’ve been part of a team for most of real estate career which began in 1986. I’ve had great partnerships and some not so great ones. My current partner, Nadra Dahdah, and I have been together since 2000 and we’re still going strong.

Successful real estate teams not only allow agents the piece of mind in knowing their partner will be able to work with customers if they take time off, it provides clients the benefits of dual resources.

While working with a partner means that you have to split your commissions, the benefits of such an arrangement far outweigh the negatives. Because of the nature of real estate, the demand for your time is great. Partnerships allow you to create a balance in your career and personal life.

Time off is crucial for metal and physical revitalization and general well being. By creating a partnership, you are giving yourself the ability to get some well needed rest and relaxation knowing that your business is being well taken care of. By choosing a partner with like goals, you can leave your business in their capable hands while you are away.

Because they will be representing your business, one of the most important things when choosing a partner is to ensure that they are motivated by the same things as you and are interested in working toward similar goals. Before making your final partner selection, it is important to take some time to really get to know them. Consider working out a temporary arrangement, perhaps three months, with the ability to go long-term if both parties are comfortable with the fit. Also, be sure to ask various questions about their future plans and their expectations for the partnership and get references. A good partner should also ask the same of you.

It is also important that your clients feel comfortable with your partner. Because this individual will be taking care of them when you are unavailable, it is crucial that there is a seamless nature to your business styles. You should complement each other and be able to confidently handle the other’s workload in their absence. In addition, your partner should be able to fill in the gaps in your expertise level (as you will also do for them), so that you can offer clients a well-rounded service.

When chosen carefully a real estate partnership will not only be of benefit to the agents involved in the team, it will be an advantage for the clients. Your partnership will allow customers to be served by two individuals who are likeminded in their approach and are able to offer them a plethora of valuable resources.