Teaming Will Enhance Your Business

(but it is NOT a pre-requisite to joining ISREP)

ISREP encourages its members to establish a "team concept" for its business model. In other words, the team should consist of a real estate agent, a lender, a home inspector, an appraiser, a title and escrow company of choice. When organized properly, within 6 months, a team concept will start building the businesses of each of its participants!

Its conceivable that you may want to be part of more than one team, because of the differences in the kinds of transactions you may process. It would be natural for a lender to work with 5-6 real estate agents, for example.

And agents, it is very common to hear agents say they work with 3 lenders, for example, one who specializes in VA, another with FHA, etc. Maybe you all use the same home inspector, escrow company etc. Perhaps you dont.

Lets say an agent works primarily with first time home buyers. They would want to have an experienced Loan Officer who has experience working with FHA Loans, someone who understands the hardships and vulnerability of persons purchasing a home for the first timel Someone with the patience and personality to do a lot of hand-holding while helping the buyer(s) through the home buying process.

It would behoove the team to also have an appraiser on your team who actually is certified to do FHA appraisals. You might find they do appraisals for several types of loans as well.

Then of course, you need a home inspector on your team who will take the time to explain the various systems within the home, besides discovering defective scenarios needing a remedy.

And finally, try to choose a title and escrow company who the agent is comfortable with since they use their services in between transactions as well, and

Bottom Line: The typical team will have 4-6 participants and they generally will all provide services to a mutual client of one another. The beauty of the concept is they will get to know the business practices, skill and knowledge levels of each other, and they will each do their part to prospect more business for "The Team" --- rather than everyone having to prospect just for themselves.