Why We Remain an Independent Brokerage

By
Real Estate Broker Owner with J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY

Sold by J Philip Real EstateLet me preface my words clearly that I have no beef with franchises and treasure my many colleagues at other firms, large, small, independent and corporate. Everyone should hitch their trailer to the train that they feel best about. 

My choice is that of an independent broker with no franchise or corporate affiliations because that is right for me.  I am approached from time to time about merging with a franchise, but I don't think that's a fit for me. Many of the agents with our firm were at one time with a franchise. We were a better match. We also have parted ways with a small number of licensees who sought greener pastures at a franchise. That worked for them. 

The reasons for my choice have always been personal, and I have resisted writing or explaining them because I don't want anyone to think I am knocking franchises; I would never do so. However, since I have just spent 2 paragraphs disclaiming any bias, I'll explain why I remain an indie. 

First, I dig building my brand. It is what inspires me. I have always felt that you either build your own dream or work for someone else's. This is mine. It matters that the name on the sign is mine. I am proud of what I have built over the past 7 years in a tough market period and a competitive area. Everyone who knows me knows what kind of a guy I am to do business with and what kind of an operation I run. When an agent joins our firm, they know they may not be expected to sell a billion dollars a month, but they are expected to be honorable above all else. And I am humbled by the group of people we have now. 

Second, I greatly value my autonomy. I never lose a moment of sleep over what a coporate entity might say about my blog posts, my methodology, or my policies. I never have to ask for permission to explore a new plan or idea. I am completely comfortable with my destiny being in my own hands- as a matter of fact, I prefer it that way. This is my masterpiece, my laboratory, and my legacy to my children. It is mine. After working 17 years for others, I am still jazzed that I work for me. It hasn't always been easy, but it has been worth it. 

I also believe that independent firms are needed. It would be a loss if every brokerage just sort of graduated into a larger franchise  and all we had was a big-box driven market. Independent firms make a difference for both the consumer and for innovation, because we offer a choice and a fertile ground for the kind of innovation that only competition can create. I love being on the front line of that effort. 

This is highly personal, and I am sure that someone could write a very compelling reason why they are happy to be at their franchise now and forever. That's cool. It is what makes the world go 'round. To each their own, but that is why J Philip Real Estate remains an independent brokerage. 

 

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Topic:
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Rainmaker
245,685
Nick & Trudy Vandekar
Realtors - Selling the Main Line, PA Lic AB067198
Long & Foster Real Estate Inc

There was also a recentl article/blog about how many of the biggere agencies/franchises may soon find that their new competitor is one of their $100,000 income agents setting up on his own. THe tools available to all on the internet today allow us to be independent if we so wish.  Good explanation of your reasons after i heard a yoiunger broker explain to me last night all the reasons why he is with a franchise. Two well balanced explanantions, allowing me to make my own decision when I am ready.

January 25, 2012 05:21 PM
Ambassador
1,381,077
Jennifer Fivelsdal | Call 845-758-6842 Helping you achieve your real estate goals
In Dutchess Columbia and Ulster Counties
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571

Phil I too can relate to your point of view; having worked for large franchises I was at the point where I wanted to make decision without corporate looking over my shoulder.  Love being independent and building my brand.

January 25, 2012 07:50 PM
Rainmaker
136,440
Gwynn Teal
Carpenter-Broker, Home and Hearth Realty (512)467-
Gwynn Teal Carpenter-Broker: Home and Hearth Realty (Austin)

J. Philip:  I am a small firm....I've been with a larger independent firm and find what attracted me was how much more personable this type of firm was than a big "box".  I like being the "boss", making the decisions! 

January 27, 2012 09:08 PM
Rainmaker
329,642
Laura Filip
THE SIGN OF SOLD STARTS HERE. CALL US TODAY
RE/MAX UTOPIA WHITESBORO,SHERMAN,DENISON TX,TEXOMA

Build your DREAM or work for someone else.... how fitting of a way to put this.... I am doing just that living my dream Wow it is great we work long hours but it is worth it every minute of it. We are working on findinga good assistant right now one that would like to work and see the value in what we are trying and have built for ourselves... Independant and loving it and who is to say that we will not be the next RE/MAX OR EBBY ... how about KW you never know do you... Hard work takes us to places we only dreamed of....

January 29, 2012 06:59 PM
Rainmaker
814,015
J. Philip Faranda
Broker-Owner
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY

Bob, 

Well, "Faranda Real Estate" doesn't quite have the ring to it that J Philip does- that factored in. 

The short answer is that I never intend to sell. Once the brand is the brand, my dream is that my children will run it if they choose to. However, if they choose not to and someday it is a salable enterprice, if we have brand recognition then we've succeeded no matter what the name is. I might write a post on that someday. 

January 29, 2012 11:02 PM
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Rainmaker
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J. Philip Faranda

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Additional Information

Phil Faranda is broker and owner of J. Philip Real Estate LLC in Briarcliff Manor, NY. Since founding the firm as a sole practitioner in late 2005, the team has grown to over 30 agents & closed 350+ transactions valued at $140 million. He is in his 4th term as Vice President of the HGMLS. This blog commentary is geared toward consumers and industry colleagues alike. You can reach him at (914) 723-8900.
Warning: *Sarcasm and irony advisory at all times.*



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