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I can't say this really is important. In the end, consumers aren't buying Re/Max, Coldwell Banker, Keller Williams, Prudential, or whatever they're buying YOU. Some of the most successful agents in my area aren't even associated with a major brand.
As evidenced by the fact that there are at least 40 agents in every market who all claim to be #1.
I don't agree with you for the full 100%!
I understand the agent is very important but with the agent being important comes what the office/brand will be able to do for advertising, etc.
The moms and pops brokerage doesn't have the funds to do the same for a client as the agents can do who are affiliated with the major brands.
In today's market the way advertising works is that it cost money and without a bigger franchise that money to be spend is more than when you get the tools that thousands of agents from one branch world wide have access too!
Also in this case it wasn't an individual agent claiming to be # 1.
I understand the agent is very important but with the agent being important comes what the office/brand will be able to do for advertising, etc.
The moms and pops brokerage doesn't have the funds to do the same for a client as the agents can do who are affiliated with the major brands.
In today's market the way advertising works is that it cost money and without a bigger franchise that money to be spend is more than when you get the tools that thousands of agents from one branch world wide have access too!
Also in this case it wasn't an individual agent claiming to be # 1.
That is why I put up the Fact V Check!
Hogwash.
Advertising and marketing to reach 99% of the actual targeted buying public for 99% of residential real estate is cheap, cheap, cheap.
Bloviating about marketing and advertising is just another way to build in excessive overhead as part of the "Value Proposition" for commission rates.
Mike, you hit the nail squarely on the head when you said, "the brand may help get into the door..." Yes, that is pure fact. Yes, in some markets, the solo act can and does sell very well, yet, in 90% of America's markets, people feel, for whatever reason, that the name brand is better. That is why when traveling, most travelers depend on the sign as to where to eat, where to buy gasoline, and where to sleep. The local yocals may indeed be the best in ever category, but when we don't know, we go with who we know, or at least think we do.
I know that as a brand name broker, I do offer my people better training, better marketing materials, and better prospecting in addition to the brands unique but attractive signs. The brand does matter, but only to the majority, and not necessarily to everyone. There will always be the exception.
As a real estate consumer, I could care less about which national brand is bigger, better, has better open house snacks, etc. For me, it's preferable to deal with a very experienced, full time agent who knows the area intimately. I can usually figure out in about two minutes if an agent is the real deal or not.
We're going to be listing our primary residence in a couple weeks, for upwards of $2M. The broker given the listing is one who has proven themselves to have superior local knowledge & ethics. We will also have that broker, a sole practitioner by the way, find us our next home.
We are also shopping for an apartment building, in the range of 10-14 doors. The broker we're using for that deal is another guy with impeccable integrity & deep experience in multi-family. He also owns about 70 units, so is very familiar with that aspect. He has his license with a locally owned office, but used to be a sole practitioner as well.
So, we're looking to buy mucho $$$ in property in the next few months. Big names don't mean a thing to us. The type of brokers we engage don't buy bus bench ads, or put out flyers claiming to be #1 or whatever.
Everyone that I know, buys and sells real estate based solely on the reputation & personal relationship with the agent.
As a real estate consumer, I could care less about which national brand is bigger, better, has better open house snacks, etc. For me, it's preferable to deal with a very experienced, full time agent who knows the area intimately. I can usually figure out in about two minutes if an agent is the real deal or not.
We're going to be listing our primary residence in a couple weeks, for upwards of $2M. The broker given the listing is one who has proven themselves to have superior local knowledge & ethics. We will also have that broker, a sole practitioner by the way, find us our next home.
We are also shopping for an apartment building, in the range of 10-14 doors. The broker we're using for that deal is another guy with impeccable integrity & deep experience in multi-family. He also owns about 70 units, so is very familiar with that aspect. He has his license with a locally owned office, but used to be a sole practitioner as well.
So, we're looking to buy mucho $$$ in property in the next few months. Big names don't mean a thing to us. The type of brokers we engage don't buy bus bench ads, or put out flyers claiming to be #1 or whatever.
Everyone that I know, buys and sells real estate based solely on the reputation & personal relationship with the agent.
Exactly! You are exactly right. Not one person disagrees with your point, well, at least I don't.
Where then are we missing the point? It goes back to the macro-numbers instead of micro-numbers. Everyone will have an exception, the micro. This conversation however must understand than in a large body of buyers and sellers, the name branded broker will typically achieve more.
The average Realtor was involved in 12 transactions in 2012. The average member of my brand sold over 16. There were independent agents who sold upwards of 100 homes and there were members of my brand that completed their fourth or fifth year without a transaction. It's when we deal with "typical," that we can speak in terms of branding, etc.
I have not known an established and competent agent who switched brands who did not take their listings and client base with them. Their clients don't care.
The average Realtor was involved in 12 transactions in 2012.
I thought it was more like 3?
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