Do you lose business because of your brokerage?
It's a question we ask ourselves periodically. Don't get us wrong, we love being associated with RE/MAX and the discretion we have, but in our niche, sometimes we think it could actually be a hindrance! We specialize in Expireds, so we're often mailing sellers that were listed with another RE/MAX franchise.
We DON'T mail listings that were with someone else from our own RE/MAX office. From the broker's perspective, it's probably great to keep the listing in house, but from our fellow agent's perspective, not so great! There's more than enough fish in the sea that we don't need to go there.
We've heard the pros and cons of small vs large brokerages, and ultimately it SHOULD be about the agent's ability, but sometimes the sellers want the Big Brokerage Name on the yard sign no matter what! And sometimes they need to have at least heard of your brokerage just to be willing to talk to you about listing their home.
The negative side of belonging to the big brokerage is that the average consumer doesn't differentiate us! We're all independent contractors and we each offer a different marketing philosophy and basket of skills, so we SHOULD be viewed on our individual merits. However, we believe that this may be a case of one bad apple (and maybe not even bad, just didn't meet the seller's expectations) spoiling the whole basket. The seller's viewpoint may be that we tried RE/MAX the first time, so let's try someone else.
What's your experience?
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs
Christianne,
Do what we did, we left the MEGA RE/MAX here and went to one of the "boutique" RE/MAX franchises. Smaller, more personal, more virtual too! We're loving it! The change in office address opened up better possibiliities for listings too! Bonus time!
Jul 13, 2010 11:44 AM
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs
Okay Barbara, We're fully and completely addicted to this now! Just wrote #4 for the day & #40 overall since we started a month ago (although 8 are listings), and it's NOT even on the topic from #33/34. Now I REALLY need to go get those flyers delivered!
Jul 13, 2010 11:55 AM
Central One Federal Credit Union - Shrewsbury, MA
Mortgage Loan Originator
Having been in real estate only 5 years, I love having the RE/MAX brand recognition. We're the top selling office out here. But, being in stubborn New England, there are those consumers who will hire the other broker, just because they aren't the top office. Give the underdog a chance, is the mindset there. Hey, it's not a monopoly.
Jul 13, 2010 01:19 PM
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs
Kathryn, As much clout as RE/MAX has, it will never be the only game in town. And if it was, well the government just wouldn't let that last, would it??
Jul 13, 2010 01:21 PM
Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN
731-695-1118, Lexington TN Homes
Yes, I have been a part of two national franchises. It matters. RE/MAX is the top office in our area...and I am blessed to own it.
Jul 13, 2010 04:16 PM
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs
Linda,
Congratulations on the ownership! You've got something that should be worth quite a bit for a long time to come!
Jul 13, 2010 05:23 PM
Momentum Real Estate Group LLC - Marietta, GA
55 & Over | New Constructions | Horse Farms
I was with a nationally recognized brokerage for the first 5 years of my business and in a big market like Atlanta, I don't think the consumer differentiates between the offices. There are more than 50 Re/Max locations listed in my MLS...some are branches offices of the same franchisee and others are independent. I don't know how the consumer would know the difference.
I like the flexibility in building my own brand. And I find no downside regarding name recognition.
Congratulations on the Feature!
Jul 14, 2010 03:39 AM
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs
Jenna,
With a big place like Atlanta, there's definitely room for each style. Building up your niche and off to the races! We were part of a 10 office RE/MAX, switched to a 2 office RE/MAX. Either way, to the consumer, RE/MAX is RE/MAX. We'll take the mixed blessings at this point.
Jul 14, 2010 03:47 AM
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation
No wonder this was a featured post... great discussion in the comments!
You're right, the first reaction for sellers with expired listings may be to try a different company, but it's up to you to re-affirm that RE/MAX was the right choice of company... that they may benefit from another agent's perspective. From reading this, I'm guessing you won't have any trouble doing that.
Jul 22, 2010 07:26 AM
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs
Margaret,
Thanks for the compliment! We try to provide more than just a "Thanks for stopping by" comment, UNLESS it's one of the obvious cut and paste comment bandits!
We've often relisted and Sold Expireds that had been with RE/MAX, but you always wonder, how many of the postcards go straight to the round file because they weren't happy with their last RE/MAX agent. Just human nature to paint us all with the same brush!
Bill & Liz
Jul 22, 2010 07:36 AM
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers
Great post. I was brought here by Margaret's recent post. I'm not a realtor, but from an outsiders perspective it seems to be, esp at the beginning, that being associated w/ a large brand name is more of a help than a hindrance. It builds credibility. In addition, I would think that you would get a lot of training and learning - both from the brokerage as well as other agents.
I suppose after you do that, you are much more equipt to start your own and then start building your own equity.
Jul 24, 2010 12:47 AM
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs
Debbie,
Starting out, and maybe even long after that, the RE/MAX brand is recognized. We never have to explain who we are when we meet a client.
Jul 24, 2010 12:52 AM
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation
Retired - Gaithersburg, MD
I have received many benefits from my 15 years plus association with RE/MAX Realty Group in Gaithersburg, MD. We have a beautiful office, a highly professional staff and some of the best agents you could find anywhere.
However, it is up to the individuals to generate the results within the positive environment. The bottom line is what you can earn. The most important award that I have received from RE/MAX International is the Lifetime Achievement Award. I received this in 2008 after reaching $3,000,000 in commission income while at this office.
No, I do not lose business because of my brokerage.
Life is good for RE/MAX agents in Maryland.
Jul 27, 2010 08:21 AM
Retired - Seattle, WA
I know many people choose to work with an agent from a big brand company. But our one office (100 agents) company is a well known brand in the Seattle We have a terrific boss who has the right values. Other agents look for a way to work here because , "You guys get all of the good listings."
Jul 27, 2010 09:43 AM
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs
Roy, Most of Liz's family is just up the road from you in Frederick. Congratulations on the Lifetime Achievement Award. With average prices here close to 200k, we're a LONG ways from hitting that mark!
Glenn, The right environment is crucial. Glad you have one there!
Jul 27, 2010 10:03 AM
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents
I believe there will always be challenges with small/ independent as well as big names. Prior to speaking to other agents in big names, I really thought it was us (those with small/ independent) ones that had trouble. Each to his/her own challenge.
Jul 28, 2010 01:49 AM
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs
Loreena, Everyplace is a mixed bag. I think they're all what we make them! Mostly, we're working for ourselves and building our brand with our clients, the trick is getting the door open the first time!
Jul 28, 2010 02:39 AM
Pino Agency - Pennsville, NJ
Celebrating 25 Years in Real Estate!
I do wonder this sometimes. But I am not willing to go anywhere else right now.
Jul 28, 2010 11:50 AM
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs
Chris, Same here. We wonder, but the pros far outway the cons. We'll keep our Big Balloon Brand!
Jul 28, 2010 01:10 PM
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Liz and Bill Spear
Transaction Alliance Cincinnati & Dayton suburbs
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And if you're asking where is Warren County Ohio? We fill the space between Cincinnati and Dayton. Perfect for enjoying the bigger cities without living in them. Places like Mason, Lebanon, Springboro, Waynesville, Franklin and more. Plus lots of rural properties available too. We work with both residential home buyers and sellers and have extensive knowledge of low maintenance living options (patio homes, condos, etc.).
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