Be Creative....New Horizons Will Open For You !!!

By
Managing Real Estate Broker with RE/MAX Executive Realty

When times are tough our business plan changes.   When transactions are plentiful we are more conservative with our market area.  In a good market, we can capture enough business without having to leave the town.  However, when the number of transactions has decreased significantly, in order to do the same amount of business, we need to broaden our horizons!!

The problem with expanding into other areas is that we may not be as well versed on the details of those other areas as we are with our marketplace.  This is a problem that has the potential of creating great liability issues. 

Rather than dealing with the unknown or issues that we are unaware of, our team is comprised of agents from other towns.  They are well versed in their marketplace and together, we have the ability to capture a good portion of the real estate market without having to think about what details of that marketplace we do not know!!!   

Nina Rogoff is our Sharon MA connection.  Nina has been a life-long member of the Sharon MA community and is ranked in the top 10 for closed transactions in Sharon MA.   Lorraine Kuney is the #1 agent in Franklin MA for Franklin listings and closed Franklin transactions.  The Kuney-Todaro Team with agents in Franklin, Millis and Sharon is the “#1 Team in Franklin’s #1 Office” and the way our team is structured is a critical factor in this challenging market.

Broadening our horizons by expanding our team to include agents in other areas works well for us.  Each agent now has the benefit of being marketed in her own marketplace as she strives to attain the #1 position there.  It’s actually an exciting time and a great way to see the value of integrating direct mail marketing and online marketing to promote a new area and new niche.  Reorganization of my team was a one year process but it was time that was well spent.  The results were very good.  Before you venture out to parts unknown, you may want to think about creatively reorganizing your business.

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Topic:
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Rainmaker
683,986
Steve and Jan Bachman
Realtors - Northern Virginia
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax

Only me :-)

September 20, 2011 07:30 AM
Rainmaker
1,930,691
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Steve.....yup....only you....hope you have a good week...

September 20, 2011 07:36 AM
Rainmaker
501,501
Christine Smith
Exclusive Buyer Agent & Attorney, Canton, MA
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com
Barbara.....that was a smart way to branch out and of course you made an excellent decision in Nina (and I am sure Robin too).
September 20, 2011 08:22 AM
Rainmaker
596,906
Barbara Altieri
REALTOR - Fairfield County CT Real Estate
RealtyQuest, Fairfield and New Haven County CT Homes for Sale and Real Estate

Barbara - That is exactly the way my brokerage is structured.  We cover a much wider geographical area than most others and our buyers and sellers can be assured they are being serviced by a 'home-grown' agent who knows their area. 

September 20, 2011 08:24 AM
Rainmaker
1,930,691
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Christine....I spent one year reorganizing and finding the right people....and fortunately I was successful with it....

Barbara.....that's the way to do it without being on a wing and a prayer.....solid agents in each area.

September 20, 2011 08:28 AM
Rainmaker
891,596
Michael Setunsky
Your Commercial Real Estate Link to Northern VA
Michael's Commercial LLC

Barbara, a great way to expand your business and have a good handle on the market in other areas. Are these agents employed by your brokerage or do you have another type of arrangement?

September 20, 2011 08:35 AM
Ambassador
1,645,565
Richard Weisser
Richard Weisser Coweta Newnan Homes for Sale
Better Homes and Gardens Real Estate Metro Brokers

Barbara...

I am trying to recruit some agents from other parts of town for exactly the reasons the you mentioned. It's a great way to expand our market!

September 20, 2011 08:41 AM
Rainmaker
1,930,691
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Michael....they all work under RE/MAX Executive Realty in Franklin, and they are all on my team The Kuney-Todaro Team.....I market each of them in their respective towns.....all I do is the marketing....they do the deals....I get a referral fee for the leads I produce for them....they get credit in MLS for their production....the team gets credit through re/max.....and I live on my referral fees....works well for everyone....no one is greedy and we all make money.

September 20, 2011 08:42 AM
Rainmaker
1,930,691
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Hi Richard....it's a great way and a SAFE WAY.....I've never been to court, and I'm not starting now!!!!

September 20, 2011 08:47 AM
Rainmaker
192,027
Bob Zorechak - ABR, GRI, e-PRO
Sells Homes in Morris/Somerset/Hunterdon Cos., NJ
Keller Williams Realty Metropolitan

In a challenging market like the one we are currently in, things call for a more creative approach in order to survive and even thrive.  Great post.

September 20, 2011 10:45 AM
Rainmaker
673,357
Gene Mundt
Mortgage Lender - Chicago/Chicagoland Mortgages
www.genemundt.com

Considering growth and re-organization is always a smart thing to do on a consistent and timely basis, Barb.  You live ... and possibly die with what you have in place, should you not do so.  Obviously you have figured that out.  Best of luck to you and much continued success with your new agents and directions ...

Gene

September 20, 2011 11:15 AM
Rainmaker
1,930,691
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Hi Bob....when reorganizing, it's important to take the necessary time and do it properly....it took me a year to find the right people in the right areas....

September 20, 2011 11:27 AM
Rainmaker
1,930,691
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

HI Gene....making the right decisions when reorganizing is a time consuming process....

September 20, 2011 11:28 AM
Ambassador
1,159,393
Tammie White
TW Realty Group, Franklin TN, South of Nashville
Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net

Smart way to expand the market. Working with agents who already know the area well and have a known track record makes sense to me.

September 20, 2011 12:28 PM
Ambassador
767,381
Robert & Lisa Hammerstein
Bergen County NJ Real Estate
Keller Williams Valley Realty

Barbara - Expanding areas is a terrific way to create a new market for yourself and the agents within your own brokerage. Being able to refer to trusted agents is the way to do it. Great job and best of luck and success to you and yours in the future...

September 20, 2011 12:35 PM
Rainmaker
1,930,691
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Tammie....try to find the right ones....that's the challenging part!!!

Lisa and Robert.....thank you....."trusted agents" is key....

September 20, 2011 12:47 PM
Ambassador
683,273
Charita Cadenhead
Serving Jefferson and Shelby Counties (Alabama)
Keller Williams Realty

Barbara I remember when Nina joined your team and I remember thinking that how smart it was to recruit by market.  To me that really shows how selective you are and how well you plan.  Well that didn't do it all by itself, but you know what I mean.  A smart and well planned move.  Not only that, but the fact that AR is a recruiting tool that you also use very well.

September 20, 2011 03:57 PM
Rainmaker
1,930,691
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Charita....AR can be a great recruiting tool....Nina was a great find for us.....and the agents in different towns works well.....everyone is on their own to network within their own marketplace.....and I market them individually.

September 20, 2011 04:08 PM
Rainmaker
895,352
Brian Madigan
LL.B., Broker
RE/MAX West Realty Inc., Brokerage (Toronto)

Barbara,

I suppose that management of the team members presents something of a challenge, since some areas would be better than others

Brian

September 20, 2011 04:41 PM
Rainmaker
1,930,691
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Brian....they are all self sufficient.....all of the three towns are good towns and they are well known in their respective towns.....

September 20, 2011 04:55 PM
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Rainmaker
1,930,691

Barbara Todaro

"New Franklin MA Homes"
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