What SIZE is your Cap ?
Some agents don’t look at the business of having/running a brokerage as a business. Everything they need to conduct transactions is just “there.” There is an office….which statistically…nationally and globally is ranked least important by many businesses…hence the often used comparison with Blockbuster and Netflix. When you take a listing..it is the home or business you are listing. When you meet with a buyer or investor it need not be at an office. When you close a transaction it is at the office of a lender or title company…in Wisconsin and many other states.
The brokerage offices we drive by very often have one or two cars in the parking lot. Lots too require maintenance....of surfaces, landscapes...plowing and cleaning.
The laptop has replaced the desktop. Digital signatures, scans, emails have replaced the need for having a “place to sign” documents. The cost of doing business has diminished in these areas and been replaced in some cases by an investment in technology. Decisions have to made…invest in office space AND technology …the financing for both has to come from somewhere….monthly fee, franchise fee, cap….to be “current” to be competitive in today’s marketplace…technology is an essential element. When you pay "nothing" you are not getting something.
For some agents this post may cause you to ..."ponder." If you are a small or one person agency....how much of your budget is being spent on outside services...the CRM...or maybe you forego that expense...and at the same time the possible business it could bring and time it could save you to spend addressing other things. Maybe you don't have a cap...you pay fees continually for the maintenance of the office..the salaries and benefits of a staff. IF you work for a franchised brokerage the questions become ...what are you paying for that you do NOT use...what do you need or want that you are not getting or paying for on your own that could help your business ? Likely you may not know all the technological options there are....they change all the time.
Everyone should love where they are...the reasons are important only to each individual agent...how you prioritize the things that make your business.. your business is a very individual decision....and sometimes hard to view objectively.
Some things you may believe about where you are or where you could be may or may not be true. If your Broker suspects you are considering a move...he/she may make you offers of increased this and reduced that...you make THEM money is certainly one reason that the offers come into play. The other reason is that ...as has happened in a number of brokerages...when one agent leaves,...it has a domino effect and that is something understandably, the Broker does not want to have happen.
We are enjoying having other dimensions to our real estate practice. We are loving be approached by agents...and referral sources...lenders and investment counselors to discuss real estate brokerage models. We meet...we zoom...we "cater" to agents with our "Munch and Earn" meetings....it can be....and we know IS a learning experience for every open minded person who chooses to confidentially participate in this kind of conversation. If this sounds like the kind of conversation you may enjoy....Call us 414 525 0563 ..you may well be surprised at what you will learn. This really IS a free Lunch...when in the case of ZOOM meetings may be delivered to you by Delivery Dudes or your local eatery...it's on US !
This has been an informational post brought to you by Sally K.& David L. Hanson, Broker Associates with EXP Realty, honored to be of service for all things real estate in southeastern Wisconsin.