Sometimes you need a different level of skills for a period of time to assist your real estate brokerage or team.
There are times when you may need someone who can provide in-depth marketing and data analysis for a particular market segment or area. Or, perhaps you would like someone with more expertise in a given area of real estate.
For these type of deals and projects you may want to consider augmenting your real estate brokerage or team with strategic partners.
A good rule to follow is that: If you can’t do a project in-house better than someone else can, you won’t be more efficient. That’s what partners are for.
Before you bring a partner on board, think carefully about why you need them; what type of relationship you want to have with them; and always have a firm understanding of what you would be willing to compromise on.
Partnership Strategy Considerations
-1- Are you looking to supplement your team’s skill set?
Search for a partner with a proven track record in that area. The partner should willingly share examples of their work and provide proof of methodological rigor, so you can be confident in their results.
-2- Is it necessary to quickly increase your team’s bandwidth?
Find a partner with a flexible engagement model, as this will enable them to spin up quickly, staff your project consistently, and flex with your needs.
-3- Do you want someone you can rely on for one-off, specialty engagements?
Choose partners with experience in your category and market, as this will reduce your oversight burden as they ramp up.
-4- Are you looking for a more consistent, longer-term extension to your team?
Make sure the partner you choose can provide a consistent, dedicated team who will challenge you from time to time, rather than simply taking orders.
Regardless of the stage you’re in, you’re never alone if you have the right partner.