We are called a discount broker. Although technically not correct, it certainly beats most things we have been called. Discount brokers get that tagline from their public persona of being a more cost-effective solution.
That means from the start, the mission was to undercut the competition on price. It’s a one-trick pony. If that’s all there is to a brokerage, odds are they will be roadkill in 14 months.
Wynd Realty was never, ever about the money. The founding mission of the company had nothing to do with real estate per se; it had everything to do with creating a business model between the agent and the broker that was more realistic in terms of value-added services and contribution to the sales cycle.
Not to go all “Field of Dreams,” but there was a feeling if we could build a solid agent-focused, broker business model, we would get agents to come along.
What do the numbers show about new agents?
Market dynamics offers a pretty simple road map for anyone wanting to develop a brokerage. In our area, year after year, the various real estate schools churn out in excess of 500 new licenses every month.
Couple this with published reports of agent success within the industry after year one, year two or even after the third year. The success — or rather, failure rates — are staggering.
Dropouts are far more common than any industry should allow, short of the gym membership industry. So, like the gym membership industry, the real estate industry has an enormous pool of licensees (or members) who just give up every year.
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