Home : Blogs : Amy Jones : Chandler Arizona Real Estate Blog

Does a big name brokerage make a difference?

If you have a strong Internet presence, do you think it matters to the general population that they recognize the brokerage name?

I've been with RE/Max for over 5 years and I've been wondering recently how much of my success is directly attributed to the RE/Max name? I have received a few RE/Max referrals over the years, but not enough to say they've had a big impact on my bottom line.

I've asked my title rep who took a poll. The general consensus was that it DOES matter to SELLERS, but NOT SO MUCH to BUYERS ...unless those buyers are coming from another part of the country or world, then it might help to have a recognized name.

Since a big name brokerage typically comes with big time fees...I'm wondering if it's worth the investment.

So, what do you think? Has anyone left a major brokerage for a smaller mom & pop shop with success?

Amy Jones, Realtor, ABR, CNE, EPro, CDPE
Top Producing Realtor in Chandler, Sun Lakes, and the surrounding Phoenix East Valley.
Named one of the "Top 50 Real Estate Agents" by the Phoenix Business Journal

RE/Max Excalibur
4921 S. Alma School Rd
Chandler, Arizona

Visit www.AmySellsAZ.com for more information including free MLS search.
Visit www.PhoenixArizonaRealEstateBlog.com for a comprehensive Phoenix Area Blog.
Visit www.SunLakesBlog.com about living in Sun Lakes, AZ.
Visit www.hosted.cdpe.com/AmyJonesGroup if you're an AZ homeowner facing foreclosure.

Posted by Amy Jones on 09/17/2009 11:11 AM

Comments (80)

Does Your Brokerage Name Matter? in the Sales Strategies / Tactics Channel

remax

80 Comments on Does a big name brokerage make a difference?

SEP

This is a good post-I will check back later on to see the results on this great question.

Hi Amy! I work in the Phoenix market as well! I think that it is less important today...but will become more when the market levels out!! Have you seen Homesmart's #'s lately? (a ton of great agents have made a move) Just the fact that you are in the mix right now...puts you head and shoulders over most agents in the Phoenix market! If you are doing a large amount of volume you are probably better off staying with RE/Max...but if your sales are sporadic your are definitely better off being with a different company when it comes to your monthly business expenses!

Continued Success!!

Hello Amy,

I was with Prudential for 8 years and this past year with Remax....while I enjoyed my time at both nearly 90% of my business came from me.....my sphere, my ads, my contacts, my farming....a few month ago I decided I was tired of paying fees for business that I brought in and not from THE BIG AGENCY name.

As of Sept. 2ND I obtained my brokers license(on the first try)Yea me....and now I am broker /owner of Hillview Realty....to early to tell how I will do but I have 1 reservation deposit and 1 listing coming on next week.....nothing to cheer about but it is a start of a new adventure...In the 1 year I was with Remax I had 3 cold calls and 13 Internet leads that were really bad....some could not qualify for a car let alone a home....again I loved both office's but what the heck.....no fees for me and my cost will be down because I am a Virtual Real Estate Office......and yes of course their will be those that disagree but that is what we as a people are all about.....oh by the way...I AM VERY HAPPY

I have worked for independents, and a big name brokerage. I think the internet completely changed the ground rules of all business, and the real estate industry was late in being affected. Pre-internet, the referral business from big name brokerages was significant, but post internet, that completely fell away, as consumers were simply going direct to a realtor in the area they were researching. I agree that a buyer doesn't pay attention to the name of a company, and probably no longer to a specific realtor -- top producers are suddenly on same level as a "newbie", then, in the same way a CNN ireporter is as valuable as the "talking head expert". The consumer just wants the facts, and for a realtor, that's a listing that will attract them. Even sellers are not so impressed with brand names, as they used to be -- they do searches, too! Our biz has shifted, and we all need to move with the flow. Brand names are not as valid as they once were.

I agree with Dennis. I was with Keller Williams for 4 years. I is very important for a newbie to join a larger, more well-known operation. The support and training is necessary. But, after you have established yourself more and pretty much know what you are doing, you are the one bringing in the business, small company that basically charges me 3.5%. I have always worked out of my home, so it basically doesn't matter where I hang my license. It is a no-brainer to me to keep most of my hard-earned money.

You may lose one or two deals because of name recognition, or lack of it, but you more than make up for it in the commission savings.

Steve ~ Yes, I can see your logic. I'm one of the area top producers so it's not so much about saving money...but I still don't like to spend money if I don't have to.

Dennis~ Congrats on the new Broker License! Keep us posted on how it's going!

Sea to Sky & Jane~ I think the internet has changed the market for good. I wonder though, if you're moving here from another part of the country, do you stay in a Holiday Inn or Bill's Motel? Or do you check them both out on the internet and go with the one that feels right?

I think a lot has to do with where your business comes from. If it is from your sphere of influence, rather than call ins, where you work may not matter. You do however, have to offer everything the large companies offer in the way of technology. Clients want instant access to information.

I was just wanting to write a post about this. I have been with Keller and I feel that leaving to the smaller firms makes you a better agent, you have to know how to get clients, keep clients and be stronger and better than the perception out there. I believe it all boils down to how much money you have to advertise to make the public perceive how big you are. If we could convince people to see that it is you the agent, not the company that sells their house and help people overcome these silly objections, becasue the general public really does not know how their home gets sold. If 87% of the people start their seach on the internet and you poll where people go, a good number of those start at Realtor.com, so it is not your company it is you the idividual and how good you are at marketing their home. Your company is just the broker who holds your license and takes a portion of your sales. Hopefully you are getting the training and technology you need to make your business successful, if not you need to invest in your own marketing. Thanks for the post.

I think you are right that sellers care more...because most big name companies can do what most local brokerages cannot do - syndicate listings to multiple websites, which would increase their home's exposure to buyers.

Flip side: getting rid of the fees associated with big name companies may be more desirable as time wears on and you've established yourself as a name in real estate that can be trusted, beyond the influence that the big name may give you.

Amy - I think it depends on how established you are. Almost all of my business comes from past clients and referrals, so in my opinion it doesn't matter what company I work for.

I've been with Remax almost 20 years. Absolutely it is a world-wide recognizable name, when I travel out of the country and say I am a Re/max agent it's instant credibilty. Also I think the name Re/max equates with hard-working, experienced agents. Who doesn't know Re/max ? And Nobody in the World Sells more real estate than Re/max. I would not be any other place.

If you haven't read Everybody Wins, The Story and Lessons Behind Re/max, I recommend you do. It's got a great message for anyone and especially Re/max agents.

Linda Metallo, Re/max Impact, Re/max Hall of Fame, Lockport, Il.

Re/Max rocks.

I just left a brokerage that has 3 offices in the Toronto area. I had been with them from 1988-1995 and returned from 2009 to 2009. These offices are complacent, there are working owners at all three offices, and no leads are given out unless you had a sold or for sale on a street. There is no training, no self promotion on signage, not allowed to use the DNCL, and you were not allowed to voice your opinion at meetings.

I joined Re/Max Reatron 3 weeks ago. I can tell you that the level of professionalism, the encouragement, the training, the seminars are just taking my breath away. Re/Max Realtron holds the top place in 5 of 15 districts in the Central core and 4 out of 19 in the north end. These numbers are really staggering based on the fact that there are 26,000 agents on the Toronto Real Estate Board. Within Re/Max Reatron there are 9 agents that are within the top 100 agents for Remax Canada.

These agents state that it the Re/Max systems and constant training that have put them in these top positions. The National advertising has been ramped up over the bad economic times while other companies have lowered their advertising.

I have been cold calling and certainly have had many responses that Re/Max is #1 in their area and would use Re/Max when the time comes to sell.

If you do 1 or two ends that will well cover your expenses for the year.

As you can tell, I am quite passionate about this move and feel thay are superior to other agencies out there. it took 21 years to make this decision.

Good luck in your decision making.

I started my career in Florida with Watson Realty Corporation, a regional corporation that provided excellent agent support. I left Watson a couple of years later and hung my license with RE/MAX Professional Group.

When I moved to Virginia, I went to work briefly with a local Coldwell Banker Franchise. When I got my first commission check I was floored that 8.5 % had been taken off the top before my split. I changed companies again and am now with Long and Foster, REALTORS^{® which is another regional corporation. There is not franchise fee here and I personally prefer not to pay it. I don't know if a franchise brings that many more clients or not. I chose to work with Long and Foster, REALTORS^{® mostly because of the team and the broker. I personally think that when you make a decision of a place to work, there are many aspects to be considered.}}

I was with RE/MAX for my first 5 years and it definately didn't hurt anything. I received a few deals from that alone, but I have had good success since then with a smaller company. I think if you are established, it doesn't matter if you are active on the internet and adding to your Sphere of Influence all the time!

I've been around awhile. I do my own marketing (it's what I love most) Most of my business comes from referrals and off my website, which ranks on page 1 of google for many local real estate searches. I wonder how many people care that they recognize and probably trust the well branded international company?

Left RE/MAX 18 months ago, started my own company. Seriously never got anything from RE/MAX and it was sure not worth the money I paid. Prior to that worked for a big local independent, did not like their business model so moved on. So got my license and went solo. My business success is due to hard work and hard work only. Have always had my own web site, the RE/MAX one only bought lookers, mine brings me leads. All my clients came with. Also hired an agent from that office, all her clients came with her and she has just closed 2 deals that were only interested in her service. I agree some sellers think a big name will sell their home faster, but you only have to look here on AR to see some very successful independents.

I work for smaller brokerage since I started my real estate career. I am looking forward to read the opinions on your post.

Many big companies provide training, support and systems. I used to be licensed in Nebraska and worked for the biggest brand out there. After making no money there (drenched with fees and the training was sub par) and then getting into real estate here and working for a small independent and just mentors (to observe their systems, negotiating skills and marketing) I saved a ton of money and learned way more.

This was not a one size fits all proposition like company training and systems. I had to make nice with many collegues (they are not competition) to mentor me, view different skill sets and then combine it into my own USP (unique selling proposition.)

It does take a lot to break away from the mold but once you do (and RE/MAX allows you to be pretty creative,) the creativity just flows. You find your own resources, systems, marketing programs and skill sets.

I am working at my third independent since I got licensed in Nevada. I jumped ship the first time because the ship was sinking and the second time, they franchised. I just reject the franchise model. I DID interview with a franchise but it was so corporate and so I can't describe it other than saying the environment was sterile and too structured for me.

Whatever an individual agent decides, they have to make sure they are a good fit for the model in order to grow. Franchise or Independent.

Hi Amy,

I'm just an outsider looking in, but if I were a seller I might be more inclined to talk to the larger firms first - thinking they may have better exposure getting my listing in front of other agents. Especially within their own company. Not that they necessarily do, or that it would make a difference, but that might be my predisposition.

Hi Amy,

I agree with many things posted here. A good agent with a strong marketing presence and systems can overcome the faux need for a big name franchised brokerage.

The first and foremost action that agents should take when entering the business as an agent is to start building personal branding. A well-marketed personally branded logo will go far to aid in marketplace-presence, self-confidence, as well as a very positive perception in the eyes of prospective clients. Also, a website or blog with an effective SEO (Search Engine Optimization) strategy will strengthen the marketing presence.

In my somewhat humble opinion, I suggest you think it through, start your personal branding, and go for it when you feel the time is right for your personal situation. If you need some help, contact me.

"Thinkers Wanted!"(sm)

Coach K.C.

Making the Star in You Shine More Brilliantly!"(sm)

a valid question I think overall it really is a question of support. if the mom and pop has no one to answer phones and "take care of the back office" your service will suffer. I think a big name matters to most sellers as they perceive this as an advantage and unfortunately when they call Mr. Big Name instead of you, you'll never get a chance to ask them. On the other hand, in a smaller, more boutique area, a mom and pop may be fine. for me, I choose the franchise model based on support, services and the ability to excel at customer service. The answer to your question lies in another question "what is best for my customers?"

I think it depends on your consumer. In my area, folks are internet savvy and very TECH driven. If you're on the web they don't care where you hang your hat. The days of the big office are gone. People want to see you on the road and email, txt and efax are the rule not the exception.

I've had more flexibility on my own than when I "played" under the big boys thumb. If you're in a more traditonal market, you may still need that Big Name on your side.

Hi Amy....I often ask the same question just on a different scale. I'm with a independent company called South Bay Brokers and although our local presence and reputation just can't be beat, I question the value that it brings to my business. I get much of my new business from the internet and my websites and I don't have the sense that it matters what company I'm with. People are looking for local experts and I've yet to have anyone tell me that the company I'm with has made a difference, or steered away from me to work with the bigger companies such as Remax and others.

I was with RE/MAX when I was in Colorado. Re/max is king in Colorado and has a huge presence. The fees were high but I was maing money and compared to the splits at other I was still coming out way ahead.

When I moved to Kansas City I figured that I would go to a RE/MAX office. After meeting with them here their fees were higher and they charged a 5% franchise fee that the RE/MAX brokers didn't charge in Colorado.

I met with Realty Executives as a coutesy to an agent friend and couldn't believe how incredible their program was. Same 100% concept, lower monthly fees and no franchise fee. 4 years later and I am still there.

My feeling is that a great agent will be a great agent no matter what it says on your business card.

I work in a rural area, have never worked for a big office with a big name. I am very pleased with the way my office is accepted by both buyers and sellers, just don't have anything to refer back to.. having always worked this way. Hope you get the answers you need. I read the blog because at one time, I had talked to REMAX about buying a franchise but then decided that I didn't need to.

I started with Century 21, paid the franchise fees and high splits and finally went out on my own, my production dropped a bit but my net income increased significantly. You will be as good as you want to be, irrespective of who you are with.

National and international "crdibility" don't matter too much to me. Local credibility is what matters and in my area of Houston TX, with all of the competition here I and my agents have been blessed with good fortune.

The internet and technology make me equal with the big names without having to pay their big fees.

Hi Amy,

I've only been an agent for 5 years and have my own brokerage for 2 now. I had one buyer choose to work with another agent since having my own brokerage that wanted to work with "a big company." I have had 4 sellers that elected to go with a larger company for "their networking." I'm about to list one of those properties in the next week.

As a small independent I find that brand matters to the boomers. The client that elected to go with big companies were ALL boomers. I have NEVER had a gen x or younger crowd care about brand. So...whether or not it makes sense for you to have your own brokerage depends on your client base.

If you are a senior specialist, then YES brand matters. If your clients tend to be more gen X and Y, then I can honestly say they don't seem to care. They don't care about brand, they care about service from the individual.

Much more important for a newbie and less aggressive agent. Sellers might see an advantage more so than buyers. That said, there is no single company right for every agent ( or buyer or seller ! ) .

It all ends up to the agent. . brokerages do not sell homes, agents do. I took many listings away from big name brokerages many times before. . because their agents could not match the value I offered to the customers.

Sometimes you win and sometimes you lose. .but is all about individual talent

I'm the smallest "independent" there is . . . a sole proprietorship. I LOVE IT!! My real estate practice is "Exclusive Buyer Agency" and for me, the big brands can never, legally/ethically, claim to be EBA -- if they take listings. So, I love my EBA practice, my niche and my clients -- who don't seem to care.

YES! I worked for Tarbell, Realtors(who are big here in So Cal) then at Coldwell Banker in Temecula. I didn't start succeeding until I was with a mom and pop run brokerage. I love it with a smaller name. I don't think that a larger name helped me at all!

I have worked for a BIG brand name, a well known regional name and now own a franchise. I can say that over the years few people have done business with me because of the sign I put in the yard. I had a revenue generating website before my company had one! I have never seen my business reduce because of lack of brand name. The internet has leveled the playing field, anyone can open any sized office and compete with the big dogs and have a better web presence if they pursue it. So to answer the question, no I don't think it is a huge factor. There will be a few people who don't know you who may choose the brand X over xyz realty because of the "perception" of getting more, but small shops have definitely got a spot at the table! Great post!

Amy...

If you'd asked me this question 14 years ago I would've said yes. But alas, I've gone on to discover it's not the company name that matters as much as the Salespeople behind the transactions. Having a big name behind us does not constitute competence in this profession :)

TLW...ROAR!

AWESOME answers. I do love the RE/Max Brokerage I'm with and I have had sellers call me because I have a RE/Max logo on my website.

I think many of you hit it on the head with the regional or big city issue. Arizona is obviously a huge vacation home and relocation state. Doesn't everyone want to live here? (Ok. maybe not) So there may be justification for staying with brand awareness.

Melina~ I was intrigued by your observation about Baby Boomers. I do work in an area where active adult communities abound so that may be one of the biggest reasons to stay with a big name.

Thanks for your banquet of food for thought.

HI Amy,

I would have to agree with the Majority here that the name of the company really doesn't matter.

I was with RE/MAX for 5 yrs. and when I was ready to make a change it was at first a bit daunting because I was lead to believe the verbage "Nobody Sells More Real Estate Than RE/MAX." But after looking at the numbers in our small town it wasn't RE/MAX who was selling the most. I was the top selling agent in the company the entire time I was with them and after inquiring with past and current clients at the time whether they used me because of the Brand and all of them saying no, it got me thinking. Buyer's don't care who you are with, they just want to see homes. I've found in my experience that Seller's don't care either they just want to see their home sold! I am now with a local brokerage office and am the top listing agent in town. Out of the 11 agencies in town we rank #3 (7agents) in Volume. #2 position (24 agents) is also a No Name Brand and the #1 a franchise (not RE/MAX) (30 agents).

I also have a 55+ community development and haven't had any of my 55+ clients make any mention of the fact I'm with a small company. My broker too was with a huge franchise and much happier being on her own. An agents reputation is huge in this business especially in a smaller town. Business is good!

That is a great question.

Thanks Trisha~ Do you have much of a relocation business, or does everyone "know" everyone. That would make a difference I suppose. In my area, there are somewhere around 40,000 licensed real estate agents. Can you believe it? So, if you're picking someone off the internet...???

Amy - I left a national franchise and opened my own company, Rulnick Realty, about three years ago. My production skyrocketed. It fit my personality better. Bottom line, it depends on the individual.

Hi Amy -- I started with a 20 person company, went to the big companies, including Re/Max and when I left a traditional company for Re/Max, everyone said I would fail -- I doubled my income. When I started my own brokerage, everyone said I would fail, I haven't. I think consumers (both buyers and sellers) either like and trust you or they don't, regardless of company. I do agree with you that there is a lot of misunderstanding on how a large brokerage is better. When you actually quantify it, it's all about innovation, etc., and I can do just as much and even more and better than the large brokerage due to the leveling mechanism called the Internet.

Hi Amy, I particularly hear this story from RE/MAX justifying their marketing and desk fees model. I think good agents and successful ones can be found ANYWHERE at any brokerage.

Hey Wendy & Chris~ Congrats on your accomplishments! I agree, if you're motivated and think outside the box, you'll probably do well no matter where you hang your hat.

Gary~ I think all the big agencies justify their fees in one way or another. They have to right? I've checked out Coldwell Banker and KW and found their fees here to be much higher than I'm paying I'm grandfathered in at RE/Max so I'm 100% which makes a big difference when you're a high producer. Paying a percentage of my commission to any brokerage would be a huge negative for me.

I have done done both. I am very able to do my own marketing but definetly see the value of the brand, especially in my marketplace. It seems most of those who commented came from a Remax model which I have never worked for. In my particular case the Sotheby's brand has enhanced my marketing especially in moving my price point forward. In our market place Remax is not a name you see in mid to upper bracket properties. I have seen it more in the lower to mid price suburban market.

There are some great posts on this topic here! I believe that the 'COST' is only and issue in the absence of value. So, if the value is not there then the cost becomes an issue. As agents most of us don't drive the cheapest cars, wear the cheapest clothes, live in cheapest houses etc....

However, as agents we sometimes 'become' the FSBO in that we don't want to pay for any value. Any of us that are good will be able to correctly justify our cost to any FSBO correctly. So, why do so many of us question the costs at our companies?? I believe it is because of the lack of value.

Many posts here include whether any of us got leads or deals from our company. I was with Prudential for 7 years before Keller Williams for 3 years now. PRU never 'gave' me deals and I paid a lot to be there. I don't believe a company should be where our business comes from. Most of us work through or with our SOI and databases so really it's irrelevant. Personally, I get a tremendous value from Keller Wiliams in the high level training and education. Sure, there is the beginner stuff offered too but who cares. I take the high level stuff and many many top top agents do too.

Hi Amy. I left RE/MAX last June.

The only thing I miss are the clothes.

Best of luck to you,

Ken

My opinion is buyers AND SELLERS will call you because ... of YOU!

No major name will bring them in like your own reputation.

Hi Amy

I have been in the real estate industry for 5 years. I am currently an Associate Broker for Solid Source Realty, which had made a good name for it's self. However, I started out with Prudential and really enjoyed it, in my first and second year I was in the million dollar club, even with all the expenses I did good. Once I learned the ropes and understood the business, I realized I could have made a million. My spear of friends and family deemed me a buyers agent therefore my referral base even now is predominately buyers they have never ask about my company and my sellers when they call me just want their properties sold, they usually give me 6-8 weeks. lol However, my peers in the industry has made more comments on the company name and it's size, for example, I have had agents to say, they like dealing with agents from large companies because they are more knowledgeable and professional and agents for no name smaller companies are less trained....

Good luck and go with your heart..

Good evening Amy,

I agree with many of the posts but I truly beleive that your clients are dealing with you because of you. From what I can gather you have been in real estate for a while and having a solid database will certainly help you. A few years ago I was partnered up with someone and we were working for a recognoized name, then we started our own brokerage. At first people are a bit reluctant but once they see what you can do for them, the name was not as important. 3 years later I decided to leave and move over to Keller Williams. Most clients don't really care who you work for. As long as you are giving good service, you work hard for your clients and they can see that, you will be fine. There is nothing wrong with bigger names but clients work with you because of you. I hope this helps. Good luck and go with your gut feeling, its usually right.

I read an interesting when I had that same question as I opened Island Palms Realty here in the Myrtle Beach South Carolina area. I now have 4 homes under contract and Realtors, Buyers and Sellers are seeing that National Brand does not matter anymore. I started asking about 3 years ago what influenced folks to use my expertise. Out of last few years maybe 6 folks needed the brand recognition. I am constantly being told that my websites, exposure and great followup are the reasons for choosing me!!!

That's an interesting point Andrea. Price point of the company. My Brokerage covers much of the Scottsdale area which has a high price point average so that's not an issue here. I do think the Phoenix area is quite unique.

Cody, you're absolutely correct, the issue is not entirely cost. I do get value from my Brokerage. Value that I haven't received from some of the other brokerages I've been with. I actually started with a small mom/pop type company here in the valley. They were great for training, but the splits were ridiculous. Once I perfected my plan, I joined RE/Max because I did feel the name recognition had value for relocation clients.

Ken...Are you saying you can't afford clothes now? :)

Erica, Debra & Jean. I agree. Once clients get to know you they are going to stay with you because of you. They are going to refer you because of you...BUT...What if they have 40,000 agents to choose from as they're sitting in front of their computer in Boise? Will the big brand brokerage tilt the scales?

Yep, Chris, that's kinda what I'm thinking. I'm on page one of Google because of my marketing. That I know for sure. Follow-up is key...no matter which Brokerage you're with!

I'm grappling with this same issue now. My gut tells me the big name is not as important as it used to be.

I'm recently licensed (20 yrs old) and a local broker decided to sposer me meaning they are going to pay my license fees, membership to join the board, provied training along with post license course. I like to do things differently thinking outside the box and being creative (this local broker allows me to do that).

But I am wondering would it be best to join a bigger name company as i start?

I have been with Coldwell Banker since I started 7 years ago, I had planned to open my own brokerage, and earned my Broker's license. When the market started shifting in 2005, I new that it would be better to have my company's support, and credibility when the going got tough (which it did). Agent branding and reputation is critical, but having the credibility of a big brokerage, legal support, advertising, a nice office, and support are worth the money. At least to me. Great post.

SEP

I started with C21 but then the brokerage changed ownership. The new owner would not honor my original fee agreement so I left to a non-franchised company. One thing I learned early was that if I did not know how to sell in one brokerage, I would not know how to sell in another because I would be taking me with me to the other brokerage.

Funny, all my existing clients switched companies with me.

Amy, I have to admit that I am a supporter of the smaller, family-owned brokerages. I started in one when I first began my career, preferring that route, being a small business child myself (my dad owned a successful excavation company for years when we were growing up). There is appreciation for the hard work it takes to build something from scratch, and a reason to be professional, and support that family´s name when you are doing business with them.

That smaller brokerage was bought out by a Century 21 franchise, and it just wasn't my thing. Did the name have some perks? Sure. But in the end, it wasn't a comfortable fit. There wasn't a feeling of loyalty that drove me as it had in the past, and the people who had been with the company the longest reaped all of the lead benefits. No thanks.

Now I am again with a smaller brokerage, and I am very content just doing my thing. At the end of the day, it is about the personal service you provide to your clients, and what is best for you, not the logo on your website or sign.

I left the major brokerage four years ago and I am still swinging the bat. I started my own company that assists people to invest in real estate. Great post

Amy:

I've been with 4 different franchises in my career. The last one is Keller Williams. I wouldn't want to be anywhere else. I love the culture and I live in Austin. This is Keller Williams country!

You know, I manage a branch for a franchise company and have done the math. For the "average" realtor out there, I am seeing that we all trickle down to about the same commission totals. For those big agents who have large production numbers, it can be different. BUT, in the end, you have to decide who you are comfortable with, based on commission, commraderie, technology and support. I have quite a few agents who love our branch due to my willingness to be there every step of the way, with a nonjudgemental ear and a willingness to fight for whatever they need. I always tell agents that I interview that they need to analyze their own priorities to see what truly matters to them and then, based on that, look at each company from an honest perspective and decide what suits them. For some, a franchise works. For others, they need a supportive manager and coordinator or they don't need any of the bells and whistles, they just need a place to hang their license. For others, they need the "team atmosphere" or the lead generation support. It's truly a matter of personality and how you can best succeed in this industry. Find that answer and you find your moneymaker! My momma always said, "Do What You Love and The Money Will Follow". If you FEEL the love, you will fell this mantra!

Amy,

First I would need to question the scientific accuracy of the poll conducted by the title company. I have worked for large and small firms, and in my humble opinion it does not make a difference to either buyer or seller.

I don't think it matters to the buyers at all. Companies don't bring me business, I do. When you start out you need the enviroment, the training, etc...

As you grow your reputation in a local community it doesn't matter to the sellers either.

Each person has to do what is right for them, their are successful folks in large companies, boutique companies and solo.

I've done both, and I'm back with a large, locally-owned brokerage.

It doesn't matter to Buyers, but it DOES matter to Sellers -- it matters which Brokerage's name is on the sign in their yard.

Great input! It's leaning heavily toward the "it doesn't matter" camp at about 63%

Follwed by the maybes "it depends on location, target audience, the support/training offered and/or needed....." 20%

a distant 3rd is the "YES it DOES (especially to sellers)" at only 11%,

I'm still curious about relocation, however. Does anyone work heavily with relo and does the big name brokerage carry weight when the buyer only knows you by what they read?

I used to be with a big name brokerage and decided that the bells and whistles were not what I wanted and needed. Now I'm on my own making a little more money and doing it my way. It seems to be working out just fine.

I individually and we as a company have wrestled with this for 6 months. We actually started to change but backed off when we realized how much we'd have to pay to get out of our franchise. We felt that the franchise did give us value but that we didn't need it as we four partners have all been in the business quite awhile and have our own unique sets of clients.

Remax does have fabulous training available on the inter-company website and there is constant communication but boy do we pay for it! I personally get tired of paying for the franchise's expansion elsewhere. Having Remax in Madagascar doesn't help Kathy Judy.

The name does matter but does it matter enough?

Hi Amy.

For small mom and pop stores both virtual and otherwise there is enough for everyone. Some people choose the agent. Some choose the brokerage. While others choose based on looks. Some choose based on gender. The list goes on. Everyone is different.

There are business models out there that attract people. While others do not. For me I like being with Coldwell Banker and have no plans to "jump ship." I started with Coldwell Banker and like it. Commission splits vary based on volume. I have seen many agents jump ship only to flounder. To each his or her own. For me I am very happy at Coldwell Banker (and plan to buy a Coldwell Banker franchise with my husband.)

ive been with local owned independant companies for my 6 years, and while sometimes i wish my company had the exposure some national brands do, im proud to know that our exposure has been from word of mouth and proof of results. some sellers care about the big name signs, but i know that there has to be someone behind the name, and alot of sellers care about the person handling their transaction.

There is no explanation required.

When Clients find that I am a RE/MAX agent with 20 years of solid selling experience, they have confidence that their Luxury Home Purchase in Toronto will be handled with privacy professionalism and discretion.

I would rather spend my activity canvassing time not explained what the name of the company means and what I actually do.

David Pylyp

Living in Toronto

I feel it does not matter what agency you are with-It is the Agent that matters. How you do business and your reputation. All my clients come from the internet-they could care less about a big agency.They found me in their search and liked my profile. It is me and my broker and we are very busy! We get many referrals from past clients, they like us and the personal service we offer.

When I started in this business 5 years ago, I joined a big name brokerage because I was told that I would get so much support. I left them for a small start-up brokerage after 2 years and am very glad I did. At the big name brokerage I did not get support, I just paid fees and got lower commission splits without any benefits. I now spend that "found" money on marketing and branding my name. At the big name brokerage I didn't get "thank yous" and respect. I was just another agent. I now am treated so well and get those "thank yous". Of course, part of that has to do with the Principal Broker/Owners.

Melissa, Justin, Pam & Carol~ Sounds like you've found the perfect fit in a smaller company. And yes, Carol, I agree...a lot of it has to do with the owners. My company has a great owner and staff too...otherwise I definitely would be gone.

Lana & David ~ I do believe a name carries value for sure. If all other things are created equal probably a good place to be.

Kathy~ You pose the best question of all. Does it matter enough? That's what I'm wondering!

Hi Amy,

I believe most of the posts cover this, but I think that it depends on your Sphere of Referrals. The Title Agent is probably correct in the assertion that Buyers don't really pay attention to the name of your company because they want to work with a person (or Agent) they like and will help them find the "right" home. On the other hand, the Seller is looking for exposure for their property and when they look for a Listing Agent, then they may look to the larger companies. But once you are established, then I don't think it really matters, as I've told many of my Realtor friends that "People work with People, not with the Company". That is one reason why I've branded myself (instead of my company, besides, who's paying for the marketing any ways). I work in the Mortgage arena myself and have been with 4 different companies over the past 2 years (due to the Mortgage Collapse -American Home Mortgage and IndyMac to name a few), which haven't hurt my business. I believe it's because my Sphere of Referrals believe that I'd make the right choice and still provide excellent service.

Best wishes on making your choice,

Mike

Amy, I will confess that I only read about half of the responses before skipping down here to leave my 2 cents worth.

First and foremost, when an agent leaves a brokerage to go to another.....they have to realize that when they get to the new brokerage.....they will still be there. What I mean by that is that so many agents leave a brokerage because they cannot get along with other agents, management, staff, etc......those agents are generally not happy anywhere they go.

I have been with a large local company (200 agents), that was bought by Long and Foster (about 12,000 agents at the time) I could not stand the corporate mentallity so I joined a very large RE/MAX franchise as a partner for four years before splitting my two offices off and staying with RE/MAX. There is no denying that the RE/MAX brand gives you instant crediblity.

I do not agree with the agents on here that say that the company did nothing for them. What did they do for the company? Thses are probably the same agents that want to show up at 10:00, go to lunch from 12:00 to 2:00, come back in the office and be handed a list of pre-qualified leads....make calls till 3:00 and go home.

RE/MAX does sell more real estate.

SEP

We started our own brokerage after interviewing with some of the big name companies and decided it wasn't worth it to pay their fees. We have a very strong internet presence and often rank higher on key search terms than the larger companies. So for us, it wouldn't be worth the extra money for a big name company. Plus to me, you just end up being one among a herd of agents. I think it's actually harder to stand out in a big company.

Damon - I took a survey amongst all the brokerages here before I chose the non-franchised company. Funny thing I found, all the sales were in direct proportion to the number of agents.

So, it is a matter of where you feel comfortable working. The sales are the same anywhere you are.

Mike, Kevin, Monica & Tom, Thanks for your input. I do believe in most real estate transactions the client (buyer especially) is working with you because of you.

Damon, Yes, if you're just a terminally unhappy person, no change is going to make a difference. Be happy doing what you love and you will be successful regardless. Thanks for posting!

I myself never said a brand has done nothing for me yet it is all about getting your name out there! I have done quite well in the business no matter where I have been. I have had my clients fill out a questionaire that asks if they chose me due to branding and an overwhelming response is no!

SEP

Chris~

I work with a lot of relo clients...Maybe I'll poll them to see if the Brokerage name made any difference. I've been successful getting my name out there.

Thanks for posting!

OCT

I have been with a small "mom & pop" shop and I am now currently with a large franchise... Each one has pros and cons to it. I got great one-on-one training in the small brokerage but once I started competing in their neighborhood they weren't too happy about that.

The larger brokerage I am with gives a lot more training classes but really the best part about it is that you can talk to any agent in here (we have 500+ agents in this office) and ask them questions on how to handle certain situations... this to me is the best part about a large brokerage. Yes, a few times the name has helped but to be honest with you the way we get our sellers and buyers they really don't care what company we are with.

Plus if you look at everything that is provided to us through this company VS. starting your own brokerage the costs are about the same (unless you run your business from your home... I like to meet with clients so I like having the office).

So it really depends on your own drive and if you work hard at the business you will be successful in both models.

NOV

Yes, it depends on your drive, and discipline. I have been with the big guy, middle guy, and now I opened my own brokerage. I intend to stay independent.

I have a friend whom I have known a while, which she recently became my client. Before our client relationship, she was always asking me about the market, about my RE business, and if I ever would go independent. When I finally decided to go independent, she listed 3 houses with me. So far, 2 of the 3 have sold. She also referred a friend to me. I finally asked her why she went with me vs the others, and she said that she really trusted me and felt that I would do the job she needed. She knew I had been in real estate a while and wanted to give me a chance since I took the leap of faith to become independent.

Everyone has the model that works best for them. I am glad I had the opportunity to work with the big brokerage firm, and the builder/developer brokerage. I wouldn't be who I am today if it weren't for all my past experiences with those firms.

I keep in touch with most of the past agents I have worked with - Go to lunch, network on AR and other sites, and keep them on my call list.

NOV

I have enjoyed what every one had to say,I am in the mist of making a decision. Looing forward to hearing more

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?