AGENTS ONLY | A Real Estate Blog written for Real Estate Agents by Darin "Sid" Cameron, CRS.
Providing advice and assistance to real estate agents. Sid is a licensed real estate broker in Missouri.
The St Louis Agent Team of RE/MAX Properties West
 | For Agents | Forum | Bookmark Site
Subscribe to RSS Feeds - Click Here!
Bookmark and Share
Chat with an Agent!
Real estate questions?
Want to see a home?
 Click for Live Chat or
Call: (314) 598-4040
 Email this Article! Email this article d Discuss this article d Printer friendly page with resizable text
 Changing Brokers... Go Independent or Stay Franchised?
By: Darin "Sid" Cameron, CRS
Fri, Dec 7th, 2007 9:44 pm

An agent I know is thinking about changing brokerages as there’s a possible shake up at their broker’s headquarter and they might change franchises.  That’s never good news for an agent because change is a distraction from day to day business. (Believe me, I know because we moved brokerages this year!)

Of course when you first get news that your world is about to be turned upside down, you start to ask questions like, “Do I even need a franchise?” “Should I consider going out on my own?” “What is the value of the various companies?” etc.

So in speaking to him, I gave him the following advice based on our experiences...

I believe your decision should start with your clients.

- How do they initially find you?

- Why do they ultimately decide to contact you and/or do business with you?

- What's important to them?

Even if you think you know those answers, I suggest giving a few of them a call or email out a quick survey just to hear how important a franchise is to them.  We talked to clients before we moved and it greatly shaped who we interviewed with.

If 90-100% of your clients are repeat and referral, then the franchise tag probably isn't all that important- you could be on your own or with any franchise.  But if you rely on internet traffic or leads from various networks that don't know you from the next agent before they contact you, then a well known franchise tag (of some flavor) is probably worth quite a bit to your business.

Next, do you have a specialization?

What's your mix of buyers vs. sellers?

Local vs. Out-of-Town Clients?

Different kinds of clients have different perspectives on this stuff.

People who live in certain neighborhoods are more open to working with independent/non-franchise companies because they place a heavy emphasis on being local over all else.  Does that apply to you?

If your current office starts their "local franchise" with a handful of locations and hundreds of agents- and most of your clients are local- then your clients may *eventually* recognize your office as an "equal" to a national franchise because of market share.  Edina Realty in Minneapolis, Iowa Realty in Iowa, etc. have no trouble competing against the national franchises because they're market leaders in their respective markets.  However out-of-town clients (and agents) probably won't find you as often (if at all) because they're going to look for what they know (the national franchise).

If you get quite a bit of leads from networks such as the CRS group (or your current franchise) you should also ask yourself will you still get the same volume of leads from those groups if you are an independent or with a smaller and/or local franchise?  If not, is the loss outweighed by gains elsewhere? (i.e. franchise expenses)

More on this subject tomorrow...

[ Next Article: << Changing Brokers... Independent or Franchise (Part 2) ]
[ Previous Article: >> Using Social Networking Sites- Facebook, MySpace, etc. ]


Search this Blog:


Darin 'Sid' Cameron, CRS

Contact Me on Facebook!

 Contact me on LinkedIn!

Follow me on Twitter!
Darin "Sid" Cameron spent 15 years working in tech sales which in 1998 relocated him to St. Louis. In 2004 he took over web development tasks for Kimberly's real estate team and later became the full-time Marketing and Operations Director. In 2011, he launched two brokerages, The Realty Store, Inc. and Realty Referral Partners, Inc. Sid holds a real estate broker's license in Missouri, CRS certification and was the first CyberStar in the St. Louis area.
Certified Residential SpecialistCyberStar!
Follow me on Active Rain!


All Blog Articles XML/RSS

Add to My Yahoo!

All Categories
 Brokers and Franchises  Understanding the Industry  Internet and Websites  Client Stories  Lead Generation  Government and Legislation  Productivity  Website SEO  Blogging  Team and Broker Management  Real Estate Marketing  Products and Services  Tips and Tricks  Computer Software  Computer Hardware  Webmaster Solutions  Advice  Misc Stuff  Trends and Statistics

 What a Government Shutdown Means for Real Estate Buyers and Sellers
 Arch Madness Visitors Guide
 First Time Buyers in 2005 Did Zero Down Programs 43% of the Time.
 Things Buyers Should NOT Do
 Keeping Your Home Protected when It's for Sale
 Your Basement Smells of Urine... Revisited
 Monitoring Your Credit
 New Location; Same Blog!
 FHA Loan Expansion Program
 Today's Mortgage Rates from Gershman Mortgage
Notice: Undefined variable: categories_sids_blogRecords in /home/stlage5/public_html/blogs/agentsonly/a.php on line 352 No records were found!

RE/MAX Properties West
Kimberly Cameron, Team Leader
RE/MAX Properties West Direct: 314 598-4040
16497 Clayton Road Office: 636 532-5900
St. Louis, MO 63011 Fax: 800 573-1985
Email Us Here! Toll Free: 800 573-5276
Equal Housing Opportunity
The St. Louis Agent Team of RE/MAX Properties West
     
 
Realtor