Why you need a CRE team and why so many resist - by Rod Santomassimo

Today, more and more commercial real estate professionals work on a team. Forming a CRE team helps you focus your efforts in areas you excel. Teaming up with others lets you pool your individual market shares. Additionally, having a team can make you more credible when you sit down with certain types of clients. Many CRE professionals understand switching to teams is a good idea, but there are generally four reasons they don’t think it is for them. 1. I tried it and it didn’t work. Maybe you got burned by a partner in the past. Maybe you trained juniors who left and took your clients with them. It’s hard to overcome the emotional impact of a bad experience. 2. We’ve never done it that way before. Some market researchers call this the “The Gravity of the Familiar.” Human beings seem wired to want to stay with the familiar, even if there might be a better way. 3. I’m worried about giving up income or status or freedom. Those same market researchers call this “The Anxiety of the New Solution.” We’re wired to worry about things that are different, even if they might seem better. 4. I don’t know how. You can know that teaming is the right thing for you and still not make the move if you don’t know what to do. Whether it is a bad past experience, an unwillingness to give up control or money or a lack of how to best leverage others, many CRE professionals simply don’t appreciate the benefit of working within the framework of a team. However, if you want more time, money and opportunities, being a member of a team is the fastest way to reaching your goals. Rod Santomassimo is the founder and CEO of The Massimo Group, Cary, North Carolina.