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I was a part of a team that belonged to a Re/Max office. Honestly, I never got my monies worth from being affiliated with Re/Max. We were basically a self sufficient team and just needed someone to be our Broker. When we the team left, it was business as usual.
I know that some agents received referrals via the Re/Max network, but I never did. I know that some agents are very attached to the "balloon". What has the balloon ever done for them?
It's like what my mentor told me when I first got into the business - clients are attracted to you for the expertise you offer, not the brokerage firm you are associated with.
I am not a Re/Max agent - but my take in marketing goes like this - Whenever I advertise it should, not be an idea, not a concept, not a promise, and not a face. Listings are what should be advertised. I suspect some of the largest chain brokerages spend millions advertising each year trying to convince people that they are the best. Reality is there are good agents and bad, there are good brokerages and bad. If you asked any seller "I was going to run an ad this week, would you prefer I put my face in the ad, or your home?" Then an agent/broker should ask themselves which one they think is more likely to generate a call. I have nothing directly against larger chains (I am not an owner/broker) I just think if I was a seller paying a commission to someone that they would have more $ for direct advertising if they were not paying large fees to show a balloon on TV. Our office loves to help small local non-profits and kids sporting uniforms etc. - beyond that our ad money is for advertising property for sale - The other stuff to me looks more like an ad for an agent/office in need of work.
Eric,
I think the counter arguement is more buyers/sellers are attracted to the larger name brands because they are to a degree a known quantity. Would more people in a strange place eat at McDonalds or Joe's Burger Shack? One you know what you get, the other you don't. While that's not a great example (because some people would be experimental and try the local food place), the point is more people prefer the known to the unknown. I would normally rather work with an agent from Re/Max or another large franchise to XYZ Realty because I'm more likely to have a quality agent and if there's an issue the broker will probably be helpful.
Some franchises offer more tools than others and that can be an advantage to listing with the larger franchise. My company has programs such as the guaranteed sales program, internet presence, agreements with Homesdotcom, HGTVdotcom and other websites, gold star properties, etc that XYZ Realty probably doesn't.
There are thousands, probably tens of thousands, of Re/Max franchises, independently owned and operated. Agents come and agents go. Their reasons are probably as varied as they are. It's not uncommon for agents to switch to different Re/max franchises. Maybe they like the people better. Maybe it's a better location. Maybe they get a better deal. Maybe the grass is greener somewhere else.
Eric,
I think the counter arguement is more buyers/sellers are attracted to the larger name brands because they are to a degree a known quantity. Would more people in a strange place eat at McDonalds or Joe's Burger Shack? One you know what you get, the other you don't. While that's not a great example (because some people would be experimental and try the local food place), the point is more people prefer the known to the unknown. I would normally rather work with an agent from Re/Max or another large franchise to XYZ Realty because I'm more likely to have a quality agent and if there's an issue the broker will probably be helpful.
Some franchises offer more tools than others and that can be an advantage to listing with the larger franchise. My company has programs such as the guaranteed sales program, internet presence, agreements with Homesdotcom, HGTVdotcom and other websites, gold star properties, etc that XYZ Realty probably doesn't.
I understand your counter, but my message is based on the fact that many of our areas independent offices are outselling the large brands.
I have interviewed with 3 local RE/MAX teams and I was more impressed by the small local chain I work for when it came to marketing. Proof in our areas sales #'s shows it. RE/MAX can be at the top in one town and near the bottom and having had to lay off the full time receptionist in another. While the small local franchise I work for is top 1 or 2 in every town it has a presence - and instead of touting our numbers/services/billboards in our ads we just advertise our listings more. But that being said, Burger King recently closed here while the local independent pizza place a half mile down the road is still thriving after about 10 years - every market/area requires different tools to survive. And in my area I don't think RE/MAX
has proven to be a consistent force, while many of XYZ's tools have proven to be more effective.
BUT, if you're looking at internet presence, the relocation buyer is probably going to lean more towards a company name they know and have heard of before contacting a local company that they know nothing about. That was the main reason I stayed with RE/MAX when I changed areas from Dallas to Austin. I get TONS of relo business mainly from people finding me online and liking the comfort of the balloon.
BUT, if you're looking at internet presence, the relocation buyer is probably going to lean more towards a company name they know and have heard of before contacting a local company that they know nothing about. That was the main reason I stayed with RE/MAX when I changed areas from Dallas to Austin. I get TONS of relo business mainly from people finding me online and liking the comfort of the balloon.
I was rebutting Eric's point of his local company.
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