Note to readers: if you aren’t working in the real estate industry, you’ll probably find this blog boring. The BREL team has just launched an exciting new brokerage concept with two of the top teams in Toronto and we want to help our fellow colleagues understand what we’ve done and why. But if you aren’t a REALTOR, you might just prefer to browse these funny photos of cats on glass tables instead. And you can read our main announcement here.
So what happened?
In short: The BREL team has joined forces with two of Toronto’s top real estate teams, DeClute Real Estate and the Wright Sisters Group, to form Canada’s first Team of Teams. Together, we are Union Realty. Within the Union Realty family, the BREL team operates as an independent brokerage – BREL Union Realty Brokerage Inc.
What’s a Team of Teams?
The Team of Teams is a new concept in the real estate industry. In theory, it works like this:
- There’s a ‘host brokerage’ that serves the teams. The host brokerage manages back-end and front-end brokerage services. Additionally, staff, resources and systems can be pooled at the host level, if it makes sense for the teams.
- The host brokerage’s brand and profitability are not its core focus. It exists to facilitate the teams in running their businesses.
- The individual teams are incorporated and operate as independent brokerages. Each team builds their own brands and has full operational control, unique cultures and their own staff.
- Shared resources and funds allow the teams to invest in the things that make the biggest difference to their clients.
- Collaboration is at the centre of how the teams work together
- Agents working under the Team of Teams concept work on one of the teams, not as individual agents
The Team of Teams concept does more than embrace teams – it empowers them. It frees them to do the right thing for their businesses and clients – always.
The Evolution of the Real Estate Team
We think the Team of Teams is the next evolution of the real estate industry.
Over the last decade, real estate teams have evolved from small two-person and family teams into powerhouses. Today’s big teams have their own offices, their own staff, their own staging warehouses and moving trucks and brands that are equally recognized (or more) than their brokerage’s. Big teams often account for a large percentage of their brokerage’s sales volume, despite accounting for a disproportionately small percentage of the headcount.
In turn, Buyers and Sellers have enthusiastically embraced the team concept. From the greater depth of experience and expertise to more services and inclusions to the predictability of experience – teams have been good for the consumer.
We believe the next natural progression is for teams to break off of the traditional brokerage model, coming together, yet maintaining their independence. Efforts and dollars normally used to fund the traditional brokerage are instead diverted into improving client experience. Former competitors become collaborators, drawn together by their vision and the whole is greater than the sum of the parts.
It’s kind of like the Avengers, for real estate.
Hey, BREL: Why not just form your own brokerage?
While that was certainly one of the options we considered, we found ourselves far more excited about the idea of collaborating and sharing with other leaders in the industry. We loved the idea of offloading the brokerage admin to someone who was already successfully doing it, and we took comfort in knowing we had other experienced brokers to brainstorm and problem solve with. We believe that together, we are better. We are more efficient. And we can each focus on the things that we do best.
Is a Team of Teams right for your real estate business?
We predict that in short order, we’ll see other teams join forces and take control of their destinies. Our best advice: Choose your partners wisely. Common values and vision are critical, and big egos can easily derail big ideas.
Are you hiring?
Our Team of Teams at Union focuses solely on teams and we’re committed to keeping it that way. We don’t have any individual agents operating independently…not because that doesn’t work, but because that doesn’t work for us.
Our teams are always on the lookout for awesome talent, so if you’re an individual agent looking to level up and join a team, get in touch.
BREL. Wright. DeClute. Aren’t you all pretty different from one another?
That’s kind of the point.
The DeClute Team is and has been a pillar in their community for three generations and are a stalwart brand. They’ve long been innovators, leading the charge in 2008 to make home staging a fundamental part of a Seller’s experience and establishing themselves as a very successful independent boutique brokerage before it was a trend.
The Wright Sisters Group is a highly skilled and well-established team known not only for their extraordinary sales success but for their agent retention. It’s not every day that you see agents with the same team for 15 years. The Wright sisters, Melanie and Lindsay, started their careers as receptionists in a real estate brokerage and ended up building one of the top teams in the country. They have created systems and processes that give both clients and agents a best-in-class experience.
And BREL? Well we’re known for pushing the envelope in creative digital marketing and design. We’ve worked hard to create a client experience that is second-to-none and use technology to ensure a seamless transaction.
Imagine what we can accomplish together?
Hey, BREL: Why did you leave Sage?
It’s no secret that we’ve spent an incredible seven years building our business and have long been advocates of Sage Real Estate. We still are. We love the brand, the leadership, the admin and design staff and our colleagues.
Sage is building an innovative brand and brokerage of individual agents and teams and deliver agent services that are second-to-none in the city. Unfortunately, the Team of Teams concept doesn’t fit into the Sage business model.
If you’re thinking of making a brokerage switch, we can, without hesitation, recommend Sage. Our business increased ten-fold while we were there and they’ll always be a part of who we are.
Still have questions? Feel free to get in touch.