BOUTIQUE FIRM OR BIG FIRM? IT'S YOUR CHOICE
Written by JOE RUNFOLA | May 27, 2009 8:56 AM Home Selling in Staten Island
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A Boutique Agency (such as Clove Lake Realty) could be described as a firm that has between 5 and 30 agents. Recently a number of small firms have gone out of business, and some large firms have changed their names and downsized. But there are some smaller firms that are still surviving, and even thriving, in the current market, namely Clove Lake Realty. The reason is their reputation, history, and established client base. That combined with advances in technology, low overhead, and a personalized managerial style allow this small firm an advantage over the larger franchises. In uncertain markets clients and customers lean toward well-established firms that have survived tough times. Most sellers are looking for a firm that demonstrates stability and a hands on broker. Sales agents are jumping ship at many big companies where there is a lot of dead weight, anonymity, and your on your own attitude. They find solace at boutique companies due to more training, guidance, and broker access. Buyers and sellers also realize boutique agencies allow the same access to peruse everything that's on the market. I hope this will assist you when deciding to choose a real estate firm to represent you. Clove Lake Realty Inc. is licensed by the NY State Dept. of State, and is located at 1267 Clove Road Staten Island, NY 10301, 718-556-7797. Visit us at http://www.clovelake.com
When a smaller brokerage joins a national firm, "I feel" they and their agents get swalloed up, things change even though they shouldn't!
Keep your small brokerage and work on improving the quality of your agents and bringing in new aents, improve your technology, be different!
Our team at CENTURY 21 Adams & Barnes enjoys this advantage at listing and buyer presentations. Nonetheless, we live in a highly dense area with many brand names and so our presentations also include how we are different from the pack.
In your area, you may need to study your competition in order to answer your question. In smaller towns, the local 'mom and pop' shop may be as well received as a brand name.
Good question. I am a Broker/Associate with ReMax ACR Elite Group, Inc in Largo FL. Without a doubt I have received business solely based on the brand. When I have asked why you called ReMax some have replied, "Is there anyone else?" There is great value in brand name association. The 95% is good and it's all about real estate not recruiting!
HOWEVER, there are brokers who do well in localized markets, being the 'without a doubt' expert in their area. Consider expanding your ranks to saturate your market. Develop a productivity suite of tools agents need to succeed and make these tools freely available. Create proprietary lead generation sources and keep the flames burning with high energy optimism and collaborative teamwork.
I wish you the very best and prosperous outcome in whatever you choose to do.
Most people do not even concern themselves with this but, you could be in any company, big or small, instant name recognition or all about you and in the end, if you have no clear view of what YOU want and - even more important - WHY are you in this business...the results will be the same either way.
With no plan and no clear understanding of why you are in this business, you will fail. With a clear plan and reason for waking up every morning, chances are you will succeed regardless of the company.
Having said all that, as a member of a big name company which is #3 in the industry (up from #4 this year), with over 70,000 agents in the USA and Canada, a great corporate culture and benefits unmatched by others, a large company also allows you the freedom to move around, build relationships in other cities, work a referral business typically guarded among members of the same company and an ability to help relocating folk and returning military regardless of transfer or plans for their future.
Don't make a decision before looking at all your options. Following models will make your life much easier if they exist where you are. National names will typically have proven models to share. If you can, pick up the book "Millionaire Real Estate Agent" and take a close look at the models you should follow regardless of where you go.
All the best and remember...Luck is when preparation meets opportunity.
It's the support that the company provides that make it a great experience.
People work with people they like, know and trust. That's sales 101. Boutique companies are popular because they are seen as flexible, agile and highly specialized.
Keller Williams is the last real estate big brand I will ever work for. If they do something radical to change I will go with a boutique company again.
I would look into the Keller Williams Model, I think the support that you have from them is incredible. Contact me if you would like me to walk you through any questions!
Think of it this way; the next time you need to purchase a car, do want to buy one that has a name on it that you recognize such as Chevrolet, Ford, etc... Or would you be willing to take a chance on the guy that builds his own, but no one has ever heard of his brand and it has never been crash tested?