Changing Directions The Rome Way

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291
http://actvra.in/4XPB

 

It was 2008, I had just left a big box company after 18 years to start an auction company.

It was a bright  idea.

 

Bright Idea homerome

I had seen sellers give their homes over to auction, paid for advertising up front, gotten no results and  were back on the market with that same company "stigmatized" with a property that did not sell.

 

I had recently sold a very unusual property with an auction company.

I negotiated  to remain the  listing agent, was part of the advertising, open house, hand holding the seller and it was a huge success!

 

So I had this idea to go further. Have an auction company run by Realtors® who could stay with the listing from beginning to end.  I used the term  accelerated marketing.  

It was exciting coming up with the name, putting a team together, having signs made up and getting sellers to go this "new" route.  That first and only year we did a lot of successful auctions.

But looking at my bottom line, it was not working as a successful business. The income from the  same amount of listings, that I was doing prior, was drastically reduced. The team had to also be paid. For me this was just not good business.

Time to say NEXT.

I became a broker and opened HomeRome Realty. 

Did I make a mistake?

No!

 I did try something that was not right for me but I learned a lot especially how to find out the seller's bottom line.  Never once have I looked back. Absolutely love being a broker and owner.  Love being a 'solopreneur' and love being responsible only to my wonderful clients. 

 

Direction arrows

 

It is okay to try a new idea.

It is okay to change directions.

This is being submitted for the December Grant Schneider contest.

 

 

 

Margaret Rome 410-530-2400

 

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Rainmaker
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Margret

Your were thinking on your feet . . . . and made a tough business decision . . . . to change your business model and that's what creates a successful business.

Good luck and success.

Lou Ludwig

Dec 02, 2016 07:51 PM #32
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Northern VA

I watched an online video recently of an Australian gentleman talking about the thing he loved about our country was the ability for businesses to fail.  After all, we learn from our failures and grow stronger.  That's what happens in a free market.  You came through it with a much stronger business.

Dec 02, 2016 07:52 PM #33
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Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Yes, it is definitely fine to try something new. And if we "fail" at it, we learn many lessons, including what does not work so we can hone in on what does.

Dec 03, 2016 03:50 AM #34
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Thanks for shairng your story with us. I opened my own property management company this past year. Keep moving forward

Dec 03, 2016 06:00 AM #35
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Margaret

You never know if something will work until you try it. Hopefully it wasn't too costly. But I'd say Home Rome WAS the way to go and still it!

Jeff

Dec 03, 2016 07:28 AM #36
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Margaret Rome, Baltimore Maryland - yours is a story we can learn from and particularly people who start their own businesses.  You certainly have kept your focus of your own real estate brokerage but you changed the business model.  Great Example!

Dec 03, 2016 08:37 AM #37
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Baltimore, MD
Sell Your Home With Margaret Rome

Grant Schneider Thank you for the opportunity to participate in this contest!

Dec 03, 2016 12:47 PM #38
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Margaret- you never know until you try, right?  And look at what you learned.  I would have expected nothing less from you!!!

Dec 03, 2016 03:39 PM #39
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Hi Margaret Rome, Baltimore Maryland not every idea works well.... you found your niche with unique properties.... and you love what you do....and that's what it's all about....

Dec 03, 2016 05:29 PM #40
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Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

My Broker at the Big Box told me to give what ever new thing I was going to try out, at least a year.  If it didn't work, do something else, but give it time to work. So you tried and then switched to something that is working for you!

Dec 03, 2016 07:28 PM #41
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James (Jim) Lawson, DBA
DomainRealty.com LLC - Bonita Springs, FL
Broker Associate, RSPS, BPOR, HI & PE

Thanks for reminding us Margaret that failure can be a great teacher. Have done it myself a few times.

Dec 04, 2016 09:22 AM #42
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Patricia Kennedy
Evers & Company Real Estate, Inc. - Washington, DC
For Your Home in the Capital

Hi, Margaret!  I included this post in today's "Last Week's Favorites".  Hope you enjoy the rest of your weekend.

Dec 04, 2016 09:28 AM #43
Rainmaker
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Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Margaret Rome, Baltimore Maryland - You got out while the getting was good.  Good for you!  Many people would keep butting their heads against the wall out of sheer pride to make it work. 

Dec 04, 2016 11:46 AM #44
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Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Great story Margaret. I have no doubt you can do whatever you set your mind to, and know exactly when to say "next". 

Dec 04, 2016 02:10 PM #45
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Richard and Beth Witt
Long Island Cash Home Buyer - Massapequa, NY
Long Island Cash Home Buyer 516-330-6940

I love the fact that you gave it a go... and I love all the comments you received which  supports the fact that your willingness to change was a GOOD THING...

Dec 04, 2016 03:09 PM #46
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Michelle Cooks
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

It's the Romeway to try and try and succeed there is nothing to fear in change or so they say

 

Dec 04, 2016 04:29 PM #47
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Baltimore, MD
Sell Your Home With Margaret Rome

Thanks Michelle Cooks 

Dec 04, 2016 05:37 PM #48
Rainmaker
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Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC
Waters Realty of Brevard, LLC - Rockledge, FL
... a small office, delivering big service!

Life (and business) does not come without some less than outstanding decisions. But it does come with the ability to move forward when your recognize there is anther way! 

Dec 05, 2016 10:59 AM #49
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Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Gateway to the Lake" 503-755-2905

You are ALWAYS an inspiration, missy! You look ahead with a glass half full and I appreciate that and more from you! 

Happy Holidays, Ms. Rome!! 

Go big, Go Rome! 

Dec 24, 2016 02:37 PM #50
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Baltimore, MD
Sell Your Home With Margaret Rome

Gayle Rich-Boxman Fishhawk Lake Realtor (503)755-2905  Thank you so much. Merry Christmas!

Dec 24, 2016 06:12 PM #51
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