New Real Estate Companies (agents, sales, fees, housing)

[casper324]

I've noticed that there are many signs in front of homes for sale that are not the big firms in NJ, Coldwell Banker, Weichert and Remax. Companies I never heard of before............I wonder what is happening? I wouldn't think these smaller firms would be sprouting up in the housing slump.

[Gretchen B]

I've never heard of Weichert, either, so maybe that's a local or east coast firm, but Coldwell Banker and Re/Max are two of the biggest franchise real estate companies in the U.S. With the housing slowdown, some independent local companies are needing the "branding" of a big national franchise in order to have more Internet leads, etc and thus hopefully increase their business. So maybe the signs your seeing for Re/Max and Coldwell Banker are actually establisthed local firms that have now become part of a bigger franchise umbrella. (Next time you see one of the signs, see if you recognize the rest of the name, i.e. Coldwell Banker - Joe's Hometown R.E., etc.) . . . Or it could truly be an upstart franchise brokerage - there's a few right now, although I agree with you that this is definitely not the time to start a new company.

[Janecj]

Many of the new real estate companies in our area are because they recently changed the Broker ruling whereas you can set up your own company without going through extensive training .. so you saw a lot of Brokers going indenpendent/starting their own company. Maybe that is the reason in your area - possibly?

[Mike Peterson]

Originally Posted by Gretchen B

I've never heard of Weichert, either, so maybe that's a local or east coast firm, but Coldwell Banker and Re/Max are two of the biggest franchise real estate companies in the U.S. With the housing slowdown, some independent local companies are needing the "branding" of a big national franchise in order to have more Internet leads, etc and thus hopefully increase their business. So maybe the signs your seeing for Re/Max and Coldwell Banker are actually establisthed local firms that have now become part of a bigger franchise umbrella. (Next time you see one of the signs, see if you recognize the rest of the name, i.e. Coldwell Banker - Joe's Hometown R.E., etc.) . . . Or it could truly be an upstart franchise brokerage - there's a few right now, although I agree with you that this is definitely not the time to start a new company.

Actually Weichert is the largest independent RE company in the US.

The reason I see for the small one popping up is that many of the agents that had desk fees but can't afford them now are trying out the mom and pops.
So for now the mom and pops are getting a bigger market share than they usually do.

[Gretchen B]

Originally Posted by Gretchen B

I've never heard of Weichert, either, so maybe that's a local or east coast firm, but Coldwell Banker and Re/Max are two of the biggest franchise real estate companies in the U.S. With the housing slowdown, some independent local companies are needing the "branding" of a big national franchise in order to have more Internet leads, etc and thus hopefully increase their business. So maybe the signs your seeing for Re/Max and Coldwell Banker are actually establisthed local firms that have now become part of a bigger franchise umbrella. (Next time you see one of the signs, see if you recognize the rest of the name, i.e. Coldwell Banker - Joe's Hometown R.E., etc.) . . . Or it could truly be an upstart franchise brokerage - there's a few right now, although I agree with you that this is definitely not the time to start a new company.

Oops! I misread the OP's post - missed the teeny word "not" in the first line.

Never mind (as Roseann Roseanna Danna used to say).

[palmcoasting]

I worked for Weichert for a while...the corporate way of doing things just wasn't for me. I went to an independent and have been with an independent since. The one I'm with now is starting to go the 'corporate' way and I'm not really liking it.
In my area, a lot more independents have started opening. They are getting their brokers licenses and just opening up shop...not getting large or anything, some just have one or two other sales associates. It gives them more control of themselves. They were independent contractors to begin with but many of the brokers don't treat you that way...you still 'work' for someone else. When you get to the point that you don't need 'guidance' and you're tired of splitting your funds with someone else, you go out on your own. Regardless of the market, there is a mulitude of opportunity out there.

[GoCUBS1]

Not sure this is happening in NJ but around here alot of my friends are using online Flat-Fee Listing companies which allow you to pay a low price (around $250) for web ads and to get your property on the MLS. Many of these co's (which I've never heard of either) will give you a realtor For Sale sign to put up in your yard.

[casper324]

Thanks for the input..........Going back to a discussion I had with Captain Bill a few months ago, I am happy to see new firms. THe old way of doing real estate business is just that old..........

CB, I wonder if any of these new firms are "full service" to the point of our past discussion.

[Captain Bill]

Originally Posted by casper324

Thanks for the input..........Going back to a discussion I had with Captain Bill a few months ago, I am happy to see new firms. THe old way of doing real estate business is just that old..........

CB, I wonder if any of these new firms are "full service" to the point of our past discussion.

I don't know Casper. I haven't seen any of them around here, although they probably are here. I've been extremely busy working with buyers and haven't paid a lot of attention to the yard signs other than on those homes I'm visiting, and most of them are the larger franchise names.