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Does it matter what you call it?

By
Real Estate Agent with EXP Realty

I was wondering if name recognition really means much to buyers and sellers when they're selecting a real estate brokerage company to work with.  I've noticed in the last couple of years sooo many new little companies popping up all over the place.  At least, I can vouch for Georgia.  Every day I pass yard signs with new names of companies that I've never seen the day before.  I remember when there were the few "big names" that monopolized the market.  No more!

I see so many different yard signs all around so that must mean that buyers and sellers are willing to give the new companies a chance.  When you think about it, we all do the same thing so what actually makes the difference... if there is one.

My new brokerage company is Solid Source Realty.  It's a relatively new company, only 4 years young.  But guess what... we have about 1,500 agents the last I knew.  GREAT COMPANY!  What I'm seeing is a ton of agents from the "big names" coming over to "the new guy on the block." 

So the question remains... What's really in a name?

Roger Stensland
Keller Williams Realty Puget Sound - Maple Valley, WA
Let's Move!
My personal opinion is not so much what you call it as how you do it.  My opinion is that since we all operate under the same laws, it doesn't matter what name you have.  Once a reputation is damaged, then it really matters.  However, there are those who like the comfort knowing that a company has been around for a while.
May 30, 2007 10:07 AM
Diane Testa
Mullica Hill, NJ

"name recognition really means much to buyers and sellers"

I used to be in a small company, and everyone would ask who I worked for. When I would tell them... they'd respond "WHO???" First I had to overcome the obstacle of them not knowing "WHO??" I worked for before I could sell them on me.

No matter who you hire to work with in Real Estate... they are who you need to be able to depend on. The company is only as strong as the individuals that make it up. I don't believe a name makes someone successful, but I do believe that a reputation can hurt or help you along the way.

"we all do the same thing so what actually makes the difference"

I don't believe we all do the same thing though! There are some agents with less to offer, and some with more. Try and set yourself apart from the rest, and cherish (and market) your differences. That is what will draw business to you!!

May 30, 2007 10:09 AM
Vonda Allen
Southwest Funding - Killeen, TX

Venice

I have noticed in the past that most clients do go with name recognition especially when they are looking through the phone book.  People just tend to feel more comfortable with that familiarity.  Ive seen several agents in my area also leave big name companies for smaller ones.  I figure that great name may not be all its cracked up to be.  Good Luck with your new company and keep in mind all the big names had to start somewhere, hope to see your company up there with the big names one day.

Vonda       

May 30, 2007 10:15 AM
Venice Harris
EXP Realty - Conyers, GA
Real Estate Agent - Conyers, GA
Roger, Diane and Vonda...  Thanks for taking the time to respond.
May 30, 2007 10:22 AM
Anonymous
Michael Licalsi

Big names charge you a fee - don't they?  Why in the world split commsion when your starting out and also pay a desk fee, copy fee, this fee and then that fee.  The commsion split I can understand, but those fees..what in the world is the MARQUEE agancy doing for you the agent.  I know some of the smaller companies can provide more real world education, more one on one with the broker (more education), and use of phones, desk, copies, and all you need is to split the commsion.  If your a season pro with a strong track record - you'll do a great job at any agency.  Customer service, caring, hard work etc. is about you and not the MARQUEE agency.

Some people like to shop at Wal Mart some don't... 

 

May 30, 2007 10:44 AM
#5
Venice Harris
EXP Realty - Conyers, GA
Real Estate Agent - Conyers, GA

"Some people like to shop at Wal Mart some don't... 

 I like that Michael!  Good point.  Thanks for responding.

May 30, 2007 02:15 PM
Vicky Carlton
Cincinnati, OH
Comey & Shepherd, Auctioneer - Greater Cincinnati
I think the name is important, whether its a big name or little name. It's what you want to put forth, to be on the tip of everyone's toung even if you are small. If it's not on the tip, who will remember you, they may remember the brand, but will they remember your name.
May 30, 2007 02:24 PM