I know what some of you are wondering. Yes, I was planning on opening my own office when I got back to my area, but I took a look at the current market and gave it a re-think.
I realized that I would be working from a position of weakness since the last transaction I closed was before I went on sabbatical in 2005. I have done some deals by consulting and referral over that time, but that is really it.
I thought about it long and hard and decided that exploring my other options would be a good idea.
So I sat down and looked at the market and used the MLS to see what local offices were closing the most transactions per agent in their office, etc.
Before I get too far into that tho, let me give you a little orientation.
After I first got into the business in '88, I worked with Century 21 in Mountain View, CA. Did that for a year or two then moved on to an independent.
Once I got past the new agent stage of life, I found myself focusing more on just finding an office that will let me keep the most money of my commission possible.
The philosophy worked out ok, but I found that agents in my office were not the types I would trust to handle my clients while I was on vacation for instance.
So this time around, I decided to try something different. I focused on getting into the most productive office possible, without focusing as much on the split. I zeroed in on performance, office atmosphere and agent personalities.
It started with a meeting with the broker and moved on through attending an office meeting where I got to meet some of the agents. I have to admit, I was impressed with the folks in the office. I was also impressed with the number of agents that showed up to the office meeting. Nearly all of the 65 agents in the office had to be there. In my last office of 140 agents, usually 10 agents or less showed up to weekly meetings.
Now the trade-off here is that while I am now associated with an office that does literally twice the business of the next closest competitor - and does it with about the same number of agents - being associated with that office is costing me more.
However, I walk into this seeing agents that I actually feel like I could learn something from. What is more amazing is that I actually think these folks will be willing to share their ideas with me.
I don't officially start till Sept 1, but it's kind of nice to be enthusiastic about being a part of an office and group of agents that have such great reputations.
I will post status reports from time to time.
R