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Why I don't need to start my own brokerage

By
Real Estate Agent with Copeland Group Realty

 I had a great question today regarding my thoughts on starting my own brokerage. I have a broker's license, but do not plan on opening my own brokerage. I like the team concept at Keller Williams because the company is set up so that you can successfully run your own "mini-brokerage" under their umbrella. 

Now I'm not sure how other KW offices work, but here is how my office in Austin helps me:


 1. KW has 4 weeks of new agent training as well as ongoing training that our buyer agents can attend . My buyer agents learned how to do buyer council sessions, get buyer rep agreements, etc. last week in a hands-on six-hour class. I saved this time and can supplement what they learned. We have other useful sessions on all aspects of real estate such as "controlling your buyers", showing properties, generating leads, doing open houses, handling closings. For now, I handle listings, but when I hire a listing coordinator, she will attend the training.

2. KW helps me hire the right people. I took some unbeatable training classes on how to hire people at a recent Keller Williams Base Camp. The trainer in my office does all of the DISC personality profiling and counseling to help me hire a strong team. The broker then sits down with all members to tell us how we're going to work best together. When I get the names of prospects, I send a list of candidats to the right person. They provide information on the brokerage, what to expect, how teams work, etc. and I'm brought into the loop when I need to continue with the inteview process.

3. KW's Compliance Coordinator checks over all contracts and handles questions from my buyer agents on writing offers, etc. Of course, I am there to do as much as possible, but it's nice having a backup who knows what they are doing and are liable for the information they provide to my agents . Having a team is like having a brokerage, but without ALL of the liability.

4. We have other perks from being a national company. I like yearly conventions, vendor discounts, "clout" in our market, and name recognition. We also have quarterly "base camps" where KW agents/brokers/operations from all over come for hands-on training about all aspects of the business. The best part about the camps is that it's a work session in a mixed environments. A brand new agent could be next to a broker opening a market center. The content for almost all of the classes works at all levels, but we'd apply what we learn to our own business.

So, as you can see, why start my own company unless I want to franchise? As long as I continue to follow the Keller Williams Millionaire Agent model, both my team and I are happy staying with the company. 

I may decide to franchise one day, but it's not in the cards just yet.

I'd love to hear counterpoints!

Comments (18)

Ava Anderson
A-Z Atlanta Realty - Snellville, GA
Selling Atlanta from A-Z!
Great Post Dee! I always wondered why someone would prefer not to start their own company and now I know.
Jan 26, 2007 01:40 AM
Alexander Harb
Knights Investing - Mesquite, TX
Dallas, Texas Real Estate Investing

Your post is the reason I joined Keller Williams....... the TEAM concept!!

They have guidance, AND accountability too!

I am so excited about being in a new office soon........ =-D

Jan 26, 2007 01:47 AM
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents
Dee: Someday I would love to have my own brokerage firm - alot of it because of the name it represents. Dont get me wrong, I'm not well-known (in fact I'm just a small time realtor) but I think it's important that when the time is ready, that I'd do that.
Jan 26, 2007 04:38 AM
Dee Copeland
Copeland Group Realty - Austin, TX
Principal Broker
No problem Loreena. I understand. I like the combination of the fact that the DeeCopelandTeam has our own reputation in addition to the one KW has. People know that I am with Keller Williams, which adds credibility, but they also remember my team name before they remember the brokerage, which is what KW wants. There are teams here that people may forget that they're with KW, but it helps for sellers or buyers who may not be familiar with us. It's the best of both worlds, in my opinion. 
Jan 26, 2007 11:39 AM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection
Dee,  Here on AR I have noticed that alot of the members are associated with KW. The agents I have spoken to are extremely positive about the company and the team concept...... I must say I am intrique.
Jan 26, 2007 05:46 PM
Darin Persinger
More Listings | More Sales - Madison, WI

DEE,

 I am a Team Leader from Madison, WI. I just got back from Austin yesterday actually. I was excited to see the group picture you have is of my group on our Madison capitol steps.

Jan 27, 2007 07:42 AM
Cal Carter
Keller Williams Realty Alabama Gulf Coast - Gulf Shores, AL

Nice post Dee! 

I had a friend that got his brokers license and proceeded to open his own one man operation.  It seemed to me that his overhead expenses would far exceed the Keller Williams split before capping out.  If he wanted to think big, he would follow the MREA plan and have a highly productive team under him and still not have the broker headaches and liabilities.  He is sure to not have the education and marketing resources that he would have in a less demanding situation at Keller Williams.  This is all before taking into consideration the profit sharing model of recruits he brought in. 

Jan 28, 2007 11:44 PM
Dee Copeland
Copeland Group Realty - Austin, TX
Principal Broker

Jennifer- KW is one of those companies that, if you use the resources, you'll love it. I like the corporate culture and it matches my goals.

Darin- Awesome! I was looking for some good team pictures from KW and loved that one. It showed how much of a group we are and I liked the red shirts right on the capitol. Too bad I missed you in Austin.

Cal- I agree. There's no need for me to spend so much on startup costs when I can use leverage.  

 

Jan 29, 2007 01:00 AM
M. Suzi Woods (Gravenstuk)
NOW Sharing the life and spice of the GC one day at a time - Grand Canyon, AZ
Suzi Woods, Prior Independent REBroker in MS
Dee-that is a very wholesome perspective. I admire KW and the concept. Still, I am the lone Ranger.
Feb 03, 2007 01:28 PM
Anonymous
Funnyrealtor
I've got no problems with KW. i used to work there but I felt it was too much like a real estate factory because the goal for the company is to recuit new agents all the time.
Feb 27, 2007 04:49 PM
#12
Anonymous
Greg

Greetings Dee, I was sold on KW until I figured I can do this on my own....Gary Keller said to run lean and mean..elimenate costs and cut the fat, read the REM book, lead generate, work your database because it's all about the agent and not KW. He did not tell me about the part where I had to give and give and give...

There is no doubt KW taught me a lot of systems that I will take with me. I was in the core startup group, an ALC member, an Interim TL, an Interim OP, a 4th Level Rainmaker, I taught a lot of classes, I did all of this plus the IT guru, so many agents come to me for questions on a daily basis, plus much more...for all the teamwork I did and all the traveling seminars I paid and went to, for all the KWU books, cd's, and all the education I paid for...it seemed like it was never enough...the market center, corp, the region they all wanted more and more as I served on the KWcares committee, the funderaising committees, the grow committee and chair committees...it all got to be so much that my business suffered from the teamwork/volunteering. If you honestly buy into the KW culture you give and give until you have to say enough is enough. Not to mention the recuiting I was suppose to do as per my ALC covenant.  It did not justified the no pay I recieved...the teamwork did not work in my favor, it worked in the MC's favor.  Did I get burned out? YEA!  For 2007 our MC only profit shared twice. Things are not good. The Marketcenter is bleeding...recruiting is down, grow is down, yet there is so much more to volunteering to do and do because the TL cannot do it all and did I mention there is never any money in the budget so we the agents flip the bill for every event. I am tired of paying KWU, KW, Traveling KW agent Seminars, Family Renuion costs me 3k-4k every year for fees, room & board. I was once like you but now it is time to think about my wife and children...Family First! Right? I need to feed my family not the KW machine. If every KW agent was sold on the culture as I was, maybe things would be different...the concept is good only if everyone pitches in their time and money...so we can sell homes too?

Did I mention KWLS...the paperwork has doubled since I joined KW, absolutely ridiculous. Greensheet tied into KWLS...too much red tape and it is not going to get any easier until I leave. I am going out on my own with all my experience, knowledge and skills.  I am taking all 35 of my listings, my database, all my 10 years of RE experience and I will automatically increase my income on day one by elimenating my cap, the reunion and all their paperwork, not to mention all my time and energy will be mine for me to grow my business. Once you get so invloved and do as much as I have in KW you cannot just stop and stay one must commit KW suicide...leave. 

Market conditons play a factor as well, I need more of my commissions and I needed it yesterday. 

 

Jan 14, 2008 02:32 PM
#13
M. Suzi Woods (Gravenstuk)
NOW Sharing the life and spice of the GC one day at a time - Grand Canyon, AZ
Suzi Woods, Prior Independent REBroker in MS
Greg, that was enlightening.
Jan 17, 2008 03:41 AM
Dee Copeland
Copeland Group Realty - Austin, TX
Principal Broker
Wow. That's too bad about your market center, but I do appreciate the comment. I agree with Suzi. My market center is great, so I just can't echo your sentiments. We have broker support, moral support, advice from top agents, etc. We're truly a family who shares. I think each market center needs to have a great leader or anyone's business can fail. I think the KWU resources far exceed the small price we pay, but it sounds like your "home base" has flaws.
Jan 21, 2008 02:04 AM
Anonymous
Mike

Greg -

 I can understand your points and I think anytime you give just by the nature of pure karma you receive back 10 fold.  So if you move to another company and stop giving to a team culture ..... depending on the company you join you will also need to prepare to stop receiving.  Not only that great feeling of giving back and the wonderful things that come from helping others, but working for such a caring company.  No one is going to force you to give anytime you don't want to or attend training you don't have time for, especially if you need more time with your family.  Family First Right! You may not be able to fulfil an ALC covenant and therefore not be a voting member of the ALC but you can still be a part of the ALC meetings as per our P and G manual.  Contibution is a cornerstone of our culture but not a requirment we take all agents who want to make a good and honest living selling real estate.  Take a break from all the training and ALC stuff if you need to and just sell .... maybe you will find that you did get back what you put in?  Regardless I respect what you had to say about KW and hope you continue to support and work with KW we will always try to give back more to the agents than any other company!  And ask yourself this if something tragic happened like a sickness, death or national disaster that effected your family, MC or Community and you couldn't work and therefore pay your mortgage or bills how many other companies would give you a grant (KW Cares) on the spot to help keep you going and cover your business till you get back.

 Not many I have worked for that is for sure.

A concerned KW Leader  

 

 

 

 

Mar 03, 2008 08:35 AM
#16
John Disque
RealtyUSA - Syracuse, NY
"Buy or List with Disque"

Greg, I don't beleive anywhere in signing up with KW that you NEED or be required to be on the ALC, buy cd's, recruit, go to family reunion, or pretty much ALL that you have written. You choose what you want to do if anything "it's your business" and it seems from reading your message it was your "busyness" of not having a game plan or as we call "Time blocking." Remember you can always say no and you don't always have to raise your hand. You have to have control over your life and think this touches on you not being in control in my opinion, and beleive it will only carry over to your new brokerage.. Only time will tell.

Many members of our office including myself do what we want, some are on the ALC and some aren't, and  BIZ hasn't slowed down any. Again you choose how much you'd like to participate.  As for family reunion, that was a HUGE plus and will make that money back 10x that amount by attending. As for the CD's, well there is KWU and that's included in my monthly change. BTW, you can't really put a price tag on education. In any case, I wish you luck in your "journey." Much succe$$.

P.S. The net has a way of not setting a tone, BUT in no way from my reply am I trying to be rude. John 

Mar 03, 2008 11:47 AM
Bob Schenkenberger
Colorado Realty Professionals - Greenwood Village, CO
Denver Real Estate
It's certainly not a one size fits all industry.  It sounds like you've got the perfect fit!
Mar 03, 2008 02:05 PM
Anonymous
Aneisha

I just passed the Indiana state Real Estate sales exam and have had serveral interviews with different companies. KW was one and I am on the fence on which one to choose,  I like all the feed back I heard and any advise I can get about KW will be great. Iwant to start out with a company that I can grow with and be successful.

Sep 25, 2011 10:56 AM
#19