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#346380 - 08/03/10 05:34 PM Re: future of small real estate brokers [Re: droll]
R. Danneskjold Offline
Veteran Member

Registered: 04/10/06
Posts: 1020
Loc: Galt's Gulch
I pay a flat monthly fee and keep 100% of everything that I make. Whether you sell something or not doesn't matter. I left the big box a little over five years ago for the small startup 100% company in our area and I've not regretted the move.

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#346422 - 08/03/10 11:19 PM Re: future of small real estate brokers [Re: R Pugh]
estatereal Online   content
Major Contributor

Registered: 01/27/07
Posts: 3098
Loc: LAND OF THE FREE!
Originally Posted By: R Pugh
I think many of the 100% houses will do good right now in this market however as soon as agents income increases they will want additional training, support and high energy offices.


agent income increases because agents close more deals. the more deals you close the more money you have to buy the training or coaching you need instead of having some non producing manager "teach" you the way to success. bottom line is that if you are closing deals and making more income, what do you need to be trained to do?

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#346423 - 08/03/10 11:24 PM Re: future of small real estate brokers [Re: Perky_REALTOR]
estatereal Online   content
Major Contributor

Registered: 01/27/07
Posts: 3098
Loc: LAND OF THE FREE!
Originally Posted By: Perky_REALTOR
There is usually a fee per transaction ($250 - $500)...though I can't see how that would be enough to fund an office unless it's a really tiny office with minimal rent/utilities...and I don't see how a broker turns a profit unless they get a bunch of top producers that are each closing a couple deals a week! I know that my broker pays a fortune just for software licensing and other fees.


my broker offers 100% and has over 400 agents. he makes fixed money every month regardless of closings. he gets more experienced agents because there is a fee paid regardless of closings, so there are more closers there than the places that 50/50 agents park a license and hope to make money. i make more so i can spend more on my business.

i could not spend the 5k per month in business expenses that i have if i had a 50/50 split adn the broker could not offer me the resources that i pay for if he decided what i get to use out of the 50% he makes.

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#346748 - 08/05/10 09:16 PM Re: future of small real estate brokers [Re: estatereal]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8596
Loc: georgia
Yeah I have pretty much shifted gears with my brokerage. At 300 trans fee on the residential side you will get alot of agents wanting to park a license OR they work full time or part time jobs and will have a closing once a blue moon.In between this time they will ask a gazillion questions.

Over time I decided to keep some agents and get rid of the dead wood. I do mostly commercial anyways.On that side I make much more on my own deals.

I will add agents that want to focus and dominate on retail and multifamily for a 70/30 split.

When I show them how to get 60,000 commission checks they gladly pay for the split.I am going to be real selective about who I take.There will not be any part-timers allowed period.

They have to take the risk to get the reward.If they have a part-time job they have a crutch under one leg and can't run. If they don't have enough money to quit the JOB then I tell them to save up and when they can make a clean break come see me.

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#347056 - 08/08/10 04:12 PM Re: future of small real estate brokers [Re: droll]
EricRE Offline
Member

Registered: 08/06/10
Posts: 243
Loc: Yorba Linda, CA
There is going to have to be a happy medium in order for a brokerage firm to be successful..as stated before me: too big is bad and too small is bad - a happy medium is a must and to figure out what that is, you need to do your research BEFORE taking the step to becoming your own brokerage.
_________________________
North Orange County real estate specializing in placentia homes for sale, yorba linda homes for sale and brea homes for sale.

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#348301 - 08/17/10 08:07 PM Re: future of small real estate brokers [Re: droll]
EricRE Offline
Member

Registered: 08/06/10
Posts: 243
Loc: Yorba Linda, CA
There will always be a place for small real estate brokerages and a big reason for it is that many real estate agents love the idea of owning their own business (they are essentially already doing this at their current brokerage where they are an independent contractor) and the thought of owning their own brokerage is very appealing. With that, there is quite a bit of competition amoung real estate brokerage firms, not allowing many of the smaller firms to rise up (taking the owner..aka the sales person) out of the business into a higher level of business and thus their business is hindered from the begining, keeping them small....of course this does not always apply and some like the idea of keeping a business small...was just a tangent of mine..lol.
_________________________
North Orange County real estate specializing in placentia homes for sale, yorba linda homes for sale and brea homes for sale.

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#348315 - 08/17/10 10:48 PM Re: future of small real estate brokers [Re: droll]
2good4u Offline
Member

Registered: 08/14/10
Posts: 19
Loc: Roseville, California
I have worked for a large brokerage and I have worked for a local brokerage. I spent about the same in fees for both of them. My partner and I opened our own company and I can tell you I have been the happiest with this decision. The only thing is that I have to go out and make the connections with the clients which isnít a problem since Iím the talker in the company.

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#349181 - 08/24/10 10:01 AM Re: future of small real estate brokers [Re: droll]
JLNorthOC Offline
Member

Registered: 06/17/10
Posts: 132
Loc: Fullerton
I would think it would be important for brokerages to provide its agents with leads. That would be great for new agents to help them get on their feet until they have enough money to pay for marketing themselves.

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#349188 - 08/24/10 11:05 AM Re: future of small real estate brokers [Re: JLNorthOC]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7719
Loc: Vermont's North-East Kingdom
Originally Posted By: JLNorthOC
I would think it would be important for brokerages to provide its agents with leads. That would be great for new agents to help them get on their feet until they have enough money to pay for marketing themselves.
They will never have that amount of money ! Maybe they would handle the leads more carefully if they had to pay for them.

I think that if a Brokerage spoon feeds leads to new Agents, they are crippling the ability of those Agents to go out and create leads for themselves.

Just like in fishin': Don't do for them what they can and should do for themselves.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#349559 - 08/26/10 06:42 PM Re: future of small real estate brokers [Re: Vermont]
Hunter 308 Offline
Veteran Member

Registered: 07/22/10
Posts: 1030
Loc: Canada
I think that if a Brokerage spoon feeds leads to new Agents, they are crippling the ability of those Agents to go out and create leads for themselves.


You are absolutely right, If the new agent has the basic's
of prospecting, lead follow up, market knowledge down pat
then they are good to go, without these skills in place real
estate will be a roller coaster ride for them.


Edited by Hunter12 (08/26/10 06:44 PM)

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#350850 - 09/09/10 05:08 PM Re: future of small real estate brokers [Re: droll]
REOsRock Offline
Member

Registered: 07/02/09
Posts: 23
Loc: Oregon
I think the future is very bright for the small brokerages. Lean, mean, and ready for biz! The wwww has enabled us to compete with the big boys, so the big offices no longer have an advantage. If a small office is tech savvy, the sky is the limit.

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#355678 - 10/26/10 10:03 AM Re: future of small real estate brokers [Re: dubai property]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8596
Loc: georgia
I used to have about 50 agents an down I am down to about 19 by choice.

I didn't estimate how much work the non-productive agents would be an dhow much hand holding was required.I thought it would just be another revenue stream like bpo's. What happened is they were taking away time from my major deals with stupid issues.

The reason they haven't had many closings yet is not because of training.It's because they are mediocre at best and don't have the fire in the belly to do what it takes to be successful.I might have a few that HAVE IT.

That's why these 100 percent things with agents and the trans fee were ok when I did that 3 years ago.Now I get daily junk mail from other firms trying it to grow big.

I am off that and onto more profitable avenues with other income streams.

Having part-time to struggling agents that want the 100 percent is like having children to raise (it's a full time job).One I will gladly give to another brokerage.

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#355686 - 10/26/10 10:34 AM Re: future of small real estate brokers [Re: super realtor]
Andy Perkins Offline
Member

Registered: 05/14/10
Posts: 317
Loc: Los Angeles
Amen, Super. The problem with too many of the 100% brokerages is that they try for profitability through size: 300 agents surely must be more lucrative than 100, right? The reality is that you'll never make it if all 300 of your agents are under-performing slugs. Way too much time and cost than you get back. I would also add that the recruiting process itself can be even more of a distraction than managing your agents. Either way, both take away from more profitable ventures.

100% firms have to operate leanly, and you can only operate successfully given that constraint by having the right kind of agents: proven performers with enough experience to not be bothering you with simpler questions (but also, in my opinion, not prima donna high-performers either).

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#356691 - 11/04/10 04:42 PM Re: future of small real estate brokers [Re: Andy Perkins]
Kristi Leak Offline
Member

Registered: 08/26/10
Posts: 175
Loc: US
I think the small real estate broker will continue to have his/her place in the market. If there is one trend in marketing over the past decade, it is that businesses are increasingly targeting very specific market segments with a focus on differentiating themselves from the competition. Therefore, I think that the small real estate broker armed with the right knowledge will be even more poised for success than in previous years, it's just up to that person to figure out what they can offer (personal attention, unparalleled market knowledge, etc) to differentiate themselves from "the big guys."
_________________________
Apartments for rent Boston

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#356795 - 11/05/10 03:48 PM Re: future of small real estate brokers [Re: droll]
Ryan O'Neill Offline
Member

Registered: 06/16/08
Posts: 221
Loc: Minneapolis, Minnesota
With any real estate company, there has to be solid value that is provided by the broker. I certainly think that a smaller broker can provide value (other than reduced fees), but it can be challenging.

In a tougher market for agents to make sales, many agents have left the business and overall efforts at recruiting have become more difficult.

In addition, competition is fierce between real estate companies to recruit and retain top agents.
_________________________
Minneapolis MLS Minnesota MLS Listings - Find MN MLS home listings in Minneapolis, St Paul, MN
MLS Minnesota - Single family home, condos, townhomes in Twin Cities, MN

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