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Gary Morris

Big or Small

By: Gary Morris
Wednesday, August 20, 2008 7:59 PM

I know this has been discussed some in the past, but I am curious to see what reactions there are now.

I know many P2'ers are small, independant brokerages or you work with a small, "no name" broker. I happen to work for a very good broker, big in the retail and commercial business, but just starting the residential side of the business.

I have the opportunity to go against some big names in the local area for a nice listing. I have worked with this seller in the past, but she is shopping. She first wanted me to cut my commission dramatically, I held my ground. Now, she say's we can talk, but if she is going to pay full commission, she may be better off with a national brand name.

I don't want to knock any national names here; we all provide valuable services to our customers and clients. I want to know from all the "no names" out there, how do you swing a seller to you and away from their perception that a national brand is better? I know the first thing most everyone will mention is the personal, professional service, my experience, etc. Bottom line though is, many times name brand recognition wins out over service. 

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Comments

Velda Miller
Member Since '03

Velda Miller said:

I like telling people that the MLS and the internet are great equalizers.  Everyone sees my listings just as easily as anyone else's and I also like to mention all the syndications that P2 uses.  I have ended most of my print advertising except for the occasional ad in the American Classifieds (Thrifty Nickel) and the Real Estate Book.  I also believe that small companies tend to be more team-like and can provide exceptional personal service.

August 20, 2008 6:59 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

[how do you swing a seller to you and away from their perception that a national brand is better]

"Well Mr. Seller, I worked for a 'big name' for x years and the only difference is that I can more creatively market your property, having none of the 'corporate' rules and regs. BTW, the big name companies in this market routinely try to recruit me and my staff. Wanna see the correspondence?" :)

August 21, 2008 8:09 AM
Nate Covington
Member Since '07

Nate Covington said:

Gary, I think Velda and Candice stated pretty good arguments.  We have 2 offices now (1 used to be a C21 that went under) and are looking at adding at least 2 more in the next year.  Remax, ERA are the only franchises left in our area and the ERA will not exist after Dec 31, according to many of the agents (they are going independent).  I think the office fees and transaction fees that they charge are not well received by customers anymore.

August 21, 2008 8:47 AM
"Dee" Mayers
Member Since '07

"Dee" Mayers said:

Gary the personal touch, the one-on-one is KEY to any client or customer.  Don't underestimate what the under dog can do.  Sure they have big name recognition, and deep advertising and marketing pockets but how is the service?  It's my efficiency, tenacity, and drive that gets the job done and I'm in a small office.  If I cannot help you, I will personally hand you over the the big brand name of your choice.

August 21, 2008 1:25 PM
Gary Morris
Member Since '07

Gary Morris said:

Thanks Velda, Nate and Dee, these are great points...just need to be reminded of them once in a while.

Candice, I love that statement. "BTW, the big name companies in this market routinely try to recruit me and my staff. Wanna see the correspondence?" :)" That is sooooo true.

August 21, 2008 1:36 PM
John Rainville
Member Since '06

John Rainville said:

Candice:

That is an awseome statement!  I am procuring it now!

In two of my markets the "National Brands" have either consolidated one went from 3 offices to 1, and another switched "brands". I think the personalization you can provide is key.  Most people prefer to be a big fish in a small pond than a small fish in the ocean.

Thanks for sharing guys!  This is the BEST stuff!

August 21, 2008 3:06 PM
Gregory Bain
Member Since '07

Gregory Bain said:

Gary,

I'm going with BIG. The Bigger the better as far as I'm concerned. I just signed up with realestate.com and happy I did it. The franchise guy was charging me a fee and provided me with nothing.

The MLS is run by a group of brokers that - in my humble opinion - couldn't sell real estate and are now making a living off of my forced payment of "dues".  Also, they will now be extorting money from me by  conducting classses on how to fail like they did. Classes I MUST attend to continue to hold a license.

The Franshise had to approve any advertising before hand and the amount they paid me back was a fraction of what it cost me. When I wanted to know about leads, they told me to work my sphere of influeance- Kind of the way a car dealer wants you to bring in your family and friends for a test drive. Yet, we are some how above a car salesman?

Now, I can attend or not attend the office meeting. There are only two offices in my state - and that maybe one too many. Who needs an office? Everyone at this forum has stated that the internet is the thing that drives their business. So, my new company is all internet.

Now, I hope the small companies do well. But, I hope I can help this company crush the franshise business' and change the way the MLS and local broker runs the Board. Where, In my opinion, less is better.

Big or Small? Real Estate has changed over the past 10 years - Thanks mostly to the greed of the broker. And, I hope this change will continue until those that lead us here are out of business.

But, on the positive side, LONG LIVE ROCK AND ROLL!

August 21, 2008 10:01 PM
Mark Wilson
Member Since '07

Mark Wilson said:

Don't forget the fact that the buyer doesn't care who the seller's broker is.  Stats show that most areas are in a buyer's market now.  Do you or your buyers care whose sign is in the yard?  No, buyers are looking for a home and want the best deal possible.

Remember that buyers and sellers will only question your fees in the absence of value and service.  Show them your toolbox and how you are the best agent for the job.

August 22, 2008 10:43 AM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

[Greg sez: LONG LIVE ROCK AND ROLL!]

Forever and ever!  :)

August 22, 2008 3:40 PM
Vicki Owens, ABR, CRS, GRI
Member Since '04

Vicki Owens, ABR, CRS, GRI said:

Candice, you and I have very similar experience. Mark, that is a point I touch on as well which is very true. What I find more and more in a down market is that sellers are looking at agent track records, especially after they have been the go round with the "big" guy (and in many cases with a part-time or sometimes agent). Even big corporations and banks want the "best" dog for the job when they have a property to move and they do find us "smaller" dogs.  Dee, I would not call it the "under" dog, but more the little dog - which with the right marketing, knowledge and attitude can be irresistible :)

August 24, 2008 7:28 AM
Karen Weger
Member Since '05

Karen Weger said:

It is not the company who promotes your listing, advertises and goes out in the wind and rain and makes sure the sign is still standing. Not the company that sends you feed back and answers all of the ad calls and e-mails about your property, it is the listing agent. Not the company that visits you and answers your calls of concerns, it is one, me. PS. If you put the sign back up I a may discount my fee.

August 25, 2008 6:35 PM
Gary Morris
Member Since '07

Gary Morris said:

Thanks to all...I have met with the seller of the property that caused me to raise this question. I just may have a nice listing come early Spring.

Karen says: "PS. If you put the sign back up I may discount my fee."

If you keep the flyer box full, I may discount my fee.

August 26, 2008 8:57 AM
Butch Siders
Member Since '07

Butch Siders said:

We have Remax, Coldwell Banker, ERA, and C-21 offices in our selling area but the small no name offices are still doing more business because the agents stay and know the area.  The big names agents move around so much, because the grass is always greener on the other side, the buyers and returning clients can't find them.  

August 27, 2008 10:20 AM
Gregory Bain
Member Since '03

Gregory Bain said:

Butch, what you said is very true. I caution every agent I talk to that every time I have jumped ship, I end up hurting myself. That's because I had spent a lot of money on farms and other "brand yourself" stuff.

People remember where they shopped and the service they got - not the individual agent. Even with constant reminders where to find me they tend to go back to the place they found me. Of course, by then I have moved! ;-)

That's why all this nonsense about "branding yourself" is just BS put out by brokers and the NAR to relive themselves of their responsibility to advertise their listings.

However, times have changed (asked Condi Rice) and shopping for a home has changed since my first office. And, my first office (so far) was the best office I worked for in the 10+ years I have been "selling" real estate.

But, LONG LIVE RECRUITERS.

August 28, 2008 12:55 PM

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Gary Morris
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