Who Are You Rooting For?
Small brokers all over the country are competing head to head with the big brand names. The web 2.0 movement has enabled small brokers to capture market awareness and offer enhanced services at a value compared to many traditional brokerage brands. Small brokers can roll out new technologies faster due to scale and aren’t afraid to be early adopters on beta tools. Many large brokers are on proprietary systems and it takes forever and a day for them to move to market demands. Blogging is also something small brokers seem to ‘get’ more than large brokers. (you’re going to see me use the word ‘get’ often. as I believe there two types of people in our industry, those who ‘get it’ and those who don’t. you just can’t beat hanging with ‘get it’ people.) Would you rather work for a broker who blogs about the community to grow market awareness or one who gets paid to send blast emails to newly licensed agents to grow recruiting numbers?
The Cool Kids are Doing It
It’s great to see successful agents choosing small brokers to hang their license. Way to go Ines Hegedus-Garcia, Kevin Warmath, and Lane Bailey for making a recent change to small brokers! I’d also like to point out some really great small brokers who are making a name for themselves in real estate 2.0: Jay Thompson, Matt Fagioli, and AG’s very own Benn and Lani Rosales. Teresa Boardman has done some pondering on this topic as well. Will she go small broker?
What’s a Brand Name Worth Anyways?
Why pay those hefty franchise fees, or large splits for a brand name consumers may or may not trust. With the corporate scandals and wall street uncertainty of the past few years, consumers trust brand names much less today than ever before. It seems most of America yearns for the small town local touch of service. When you go out to eat…do you prefer the local whole in the wall with eclectic atmosphere, good food and personal service or do you pick the large chain restaurant where nobody knows your name? I know it depends on your mood and location at the time, but doesn’t real estate involve location and emotion? I know I take my clients to Lucia’s and not Olive Garden or the Right Wing Tavern and not Ruby Tuesday’s. So, why do agents continue to pay the large caps and silly technology fees when many small brokers have better splits and no hidden junk fees? Is the brand really worth those extra fees?
If you are considering a fresh start in real estate, more money to spend on your business, or just want to hang out with people who ‘get it’, then you should consider your local small broker. They may very well ‘get it’ way more than your current or next large brand broker and save you thousands of dollars annually.
Seth Godin Agrees
Small means the founder makes a far greater percentage of the customer interactions. Small means the founder is close to the decisions that matter and can make them, quickly.
Small is the new big because small gives you the flexibility to change the business model when your competition changes theirs.
Small means that you can answer email from your customers.
America loves the underdog!