The Agent Makes the Difference... The brokerage is kind of like the fancy wrapper.

By
Real Estate Agent with Real People Realty, Inc. 475.137677

I made a bad financial decision in regard to my business last July when I changed brokerages. 

I thought that being affiliated with a local name brand brokerage would help me weather the tough real estate market, better than being affiliated with a different name brand brokerage quite a distance from my target market. 

I couldn't have been more wrong, and it was a very expensive mistake.

At my previous office, I was making a phenomenal commmission.  Trust me when I say it's almost too good to be true. I work from home so the distance from this office to my house wasn't an issue.  Escrow was directly deposited and all documents were either PDF'd or faxed to-and-from.  It was a great arrangement, but I just had to mess with a good thing.  Stupid... stupid... stupid!

I had often wondered if the 30 miles from the Elmwood Park IL office to my target market in Plainfield IL was costing me business, so I made a business decision to try to increase my local exposure by joining a local office in town.

This was an expensive and time consuming mistake just to find out one important thing:  It's the agent that makes the difference!

My market suffered huge losses as foreclosures, short sales, and REO properties over took the market.  The new office did not offer much more in the way of support and training than I had been receiving before, but my cost of doing business had increased by about 800% through fees, commission splits and the change over for my marketing.  I thought that a new level of productivity would compensate for these costs but sadly, it hasn't even come close.  I'm going back to my previous office next Wednesday, April 1st.

I have had to pave a new path in the market to remain active and profitable.  I have expanded my services to include the rental market and have gone back to doing short sales. When I realized that I am the one who dictates how busy and profitable I am, it made me realize that I deserved to keep more of the money that I earned.  My leads come from my referrals, my websites, my blogging, and my efforts.

I think that blogging and the Internet, in addition to tools like Active Rain, make it possible to rely less heavily on a traditional office setting.  If you think about it, your main place of business is probably located on 4 wheels and sitting in your very own driveway!

I thought it was important to remind the agents out there to consider what is important in this market:  Delivering great customer service to your peers, your clients, your customers, and your community.  If you continue to concentrate on this, the logo next to your name will seem less and less significant.

To the buyers and sellers out there: Remember, your agent is the one working to help you with your real estate needs, not the logo attached to their business card.  Real estate has changed over the last 5-10 years, make sure you are working with an agent who has kept up with the changes!

 

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Re-Bloggged 2 times:

Re-Blogged By Re-Blogged At
  1. Jean Terry 03/23/2009 09:21 PM
  2. Yvette & Dennis Gardner 03/24/2009 12:01 PM
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Tags:
changing offices
julie ferenzi
chosing a realtor
plainfield il

Comments 84 New Comment

Rainer
54,676
Kelsey Barklow
423/948-9154, Marne Drinnon 423/202-2277
Evans & Evans Real Estate

I totally agree with you, Julie. When I do a listing presentation, I spend about 10 seconds on my company and the remainder of the time on more important topics like what I am going to do to help sell their home. Thanks for the post and I'm sorry you had to learn such an expensive lesson.

March 25, 2009 08:02 PM
Rainmaker
378,666
Sonya Loose
Wixom Lake, Secord Lake, Sugar Springs and Smallwo
Gladwin MI Real Estate (Homewaters Real Estate)

Julie, I feel for you that your learning experience (sounds better than mistake) had to cost you money.  But, sometimes you have to lose something to see just how valuable it really was to you.  I wish you tons of luck going back!

March 26, 2009 10:07 AM
Rainmaker
128,109
Mike Henderson
HUD Home Hub - 303-949-5848
Your complete source for buying HUD homes

I wholeheartedly agree.  Do what is best for you.

March 27, 2009 11:51 PM
Rainer
37,213
Jerry Gray
Allen Tate Realtors

Hi Julie,

Hang in there. Remember to give more than you receive. The client will seeit and reward you with business and referrals,

Jerry Gray/ Prudential Carolinas Realty/ Winston Salem, NC

April 01, 2009 07:40 AM
Ambassador
550,981
"The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW.
President-Tutas Towne Realty, Inc.

Julie...

Every mistake I have ever made in my life time has taught me something. Therefore, I have made no mistakes. I've simply enjoyed the school of hard knocks :)

TLW...ROAR!

April 01, 2009 11:46 AM
Rainmaker
99,433

Julie Ferenzi

Julie Ferenzi
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