In today’s more challenging market, agents are banding together to stay competitive and sane. Mike Bruce of Denver Metro Association of Realtors offers strategies for working together more effectively.
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Some time ago, I found myself staring at an empty event space, waiting for people to show up to a kickball event I had put together. I had the drinks ready to go, the appetizers and, of course, the team energy, but only a handful of people walked through the door.
It was frustrating. I had spent time and money, and in the end, it didn’t make the impact I had hoped for. That’s when it really hit me: The way we network, market and even run our businesses as agents has to evolve. We can’t always afford to do it alone anymore, especially in this market.
The market is shifting, commissions are changing and procuring cause isn’t what it used to be. The overall life of a solo agent is tough, being on your island gets boring and burnout is too easy when you’re expected to be on the clock 24/7.
Collaboration is no longer only a convenience … it’s a necessity. But how do you balance working together with staying competitive? And how do you ensure you don’t lose a client after putting in all the work?
Informal alliances: The Uber of real estate showings
One of the biggest challenges I’ve faced as an agent is juggling showings. They’re unpredictable and time-consuming, making it tough to manage multiple clients while still having a life outside of work. That’s why so many of us are turning to informal alliances.
Think of it like Uber for real estate showings. If I can’t be there to show a home, I call on someone I trust. Maybe I give them a percentage split, maybe we trade favors — but either way, my client is taken care of, and I don’t risk losing them to another agent.
Structured teams: The power of a collective
For those who want more stability, structured teams take collaboration to the next level. I like to compare it to a hockey stick — there’s new, emerging and proven talent, all playing different roles.
Instead of the traditional 50/50 commission split, many teams are shifting toward pooling resources for better marketing and client engagement. Instead of each agent spending a little bit on small, ineffective campaigns, we’re investing in higher-quality efforts that actually get results, including events that people really want to attend.
The ‘Price Is Right’ approach: Collective market analysis
Pricing a home right is an art. That’s why I instruct my team to not do it alone. When someone on my team is about to list a property, I bring my whole team together during the month to discuss the market analysis. It’s what we call “The Price Is Right” approach.
We review comps, trends and potential obstacles so that when I present my pricing strategy to the seller, I can confidently say, “My entire team agrees — this is the right price.”
Not only does this add credibility, but it reassures sellers that they’re getting the best possible strategy. It’s a simple way to leverage collective expertise for better results.
Networking is changing: Beyond happy hours
Networking in real estate has changed. That empty happy hour I mentioned? It was a wake-up call. These days, our team isn’t just throwing small events; we’re going all in.
Rather than hosting something basic and hoping for a decent turnout, we’re reserving entire venues, hiring professional photographers and creating exclusive experiences that people actually want to attend.
Last year, we rented out the Denver Zoo after hours, giving our clients and colleagues a unique night. We even made it fun by cutting out our faces, sticking them on popsicle sticks, and challenging guests to take creative photos with different animals for a chance to win a free zoo membership.
We’ve also done archery dodgeball next to a bar, and it was a hit. Turns out, people love a little friendly competition with their networking … so long as there are drinks.
Adapting to a changing industry
This market is forcing us to change, and honestly, that’s not a bad thing. The days of the lone wolf agent are fading. To succeed, we have to work smarter, whether that means forming alliances, joining structured teams or simply pooling our resources to host better events.
No one can do it all. But together, we can build businesses that thrive, even in the toughest markets. And maybe, just maybe, we’ll finally be able to take a vacation without our phones ringing non-stop.
Mike Bruce is board President of Denver Metro Association of Realtors. Connect with him on Instagram and LinkedIn.
