by Joe Rosengarten
Despite being a longtime advocate of team structures within real estate brokerages, AJ Lamba’s viewpoint has completely changed in recent years.
Although he was one of the first individuals to create teams in the Canadian market (Lamba attended the prestigious building effective teams program at Harvard University), Lamba now believes the team structure cannot survive in the industry.
“Teams do well as long as both the team and the individual agents both need each other,” Lamba says. “The team provides the leads and the training to work the leads, which the agents desperately need. However, once the training process is over and the agent becomes self-sufficient, the agent no longer needs to continue to pay 50% of their commission split. Teams cannot afford to charge agents fees of $300 for a transaction, like all of the discount brokerages who provide almost nothing except an office to work from but no leads and no training. Teams cannot break even if they do that.”
“For that reason, most good agents will not stay at teams for more than a few years until they learn the business because thereafter they have no reason to pay the team 40 or even 50%,” Lamba continues. “Hence, the revolving door, as every few years it almost feels like a new batch of students have now joined the class and the old ones have become a part of the alumni. We have become something like the best school in town rather than a real estate office. That’s the reputation we’ve developed in the market, which is unfortunate for us as several agents honestly confess when they come to meet us. People hear that if they are serious about learning real estate they should come to our team.”
Lamba sees teams as offering a great learning environment and structure for inexperienced agents. However, once an agent has been on a team for a couple of years and developed some industry experience and confidence, they often leave for a big brokerage who will offer less development and training but will also ask for a much smaller commission split.
“If you look under the hood of any of the teams in Canada, they are all struggling because they are now part of a spiral that they cannot get out of.” Lamba says. “The people at the top are losing money but they have inflated egos. They don't want to admit that an experienced agent is not interested in paying $5,000 a transaction to be in a team when they can pay less than $500 to a hotel style brokerage, which is why I love the team environment in our brokerage. However, agents are now, for the first time ever, being offered a graduation process that is working extremely well.”
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AJ Lamba, the name synonymous with quality, dynamism and unparalleled customer services has attained the epitome of excellence in the domain of Real Estate in Canada. With a multi-faceted & enriching experience of over 2 decades, he has sold over $600 million worth of real estate and has been awarded numerous awards for his dedication and top-notch calibre in this domain.
AJ Lamba's brain-child WhiteHill Team has brought in gold-standard processes, impeccable customer service and have made the process of selling/buying a home as easy as possible. It is no wonder that they sell one property in every 30 hours to customers who laud their customer service and impeccable attention to detail!
At WhiteHill Team, we understand all real estate concerns and that is why we have a dedicated Seller Team, which offers customers the power of 21 professions in various domains of advertising, photography, Social Media Marketing, agents who ensure the best deal for the property. Their 31-marketing plan is so comprehensive that it attracts the best clients and the free staging service allures the customers no end.
AJ Lamba, the multi-awarded realtor has spared no expense in making sure that WhiteHill Team is as technologically advanced as possible. In this endeavour, drone photography, high definition virtual tours, personalised websites for clients are done so that each and every property that passes through WhiteHill Team gets the most optimum deal.
WhiteHill Team aims to become a world class realty company, which provides customised technologically advanced solutions to customers for buying/selling theira properties in the most comprehensive way. Their expertise speaks volumes about their passion towards their craft and their commitment to excellence.
Choose WhiteHill Team, Choose Excellence!