Big Real Estate Company v. Small Real Estate Company...Why not both?

Whether you are looking to list your home, buy a home, or even start a career with a real estate company...you have choices. Recently I heard a debate about the merits of a small company over a large one. Here is how it went (the names have been changed to protect the innocent):

Agent Napoleon: We have hands on training and management. That means our clients get PROFESSIONAL service.

Agent Rasputin: But we have more tools and resources. That means our clients get MORE services.

They both were right...So why not get both? If you search hard enough you can find real estate companies that provide the high touch service of a small company PLUS the resources of a large international one. Here are a few factors to identify:

1. Find out how much high level training is done on site. Not just prelicensing and contract review, but hard core business development and skill sharpening. The higher level training is what separates the good from great. Keep in mind, even Tiger Woods has a coach.

2. Where are the broker/owners? Are they available? Active? Ask to speak with them. It can be easy for a leader to make decisions when they are isolated from the results. Many onsite owner companies are held to a higher standard of accountability because they are more accessible.

3. Last but not least, what is the power of their brand. Some of the franchise companies offer international exposure as well as aggressive local marketing. Many clients are coming from outside of the local area and may not be familiar with the local brands.

Do You Spend Money Advertising Your Listing? Attraction Vs Satisfaction

Why are you doing it? Sounds like an obvious question, but if you don't understand your true purpose you are likely to spend money foolishly. Spending money to cause a property to sell has a very small chance of success. As a rule, you should never spend money to cause a property to sell! You can't compel a market response. There are however value reasons to advertise a property. The two most effective are attraction and satisfaction. Are you advertising to attract potential buyers and new listings to your business? Are you advertising to satisfy your seller's expectations? If the purpose is lead generation, it should be pre-planned, tracked and the response measured over time. Know your return on investment on every 'attraction' dollar you spend. Satisfying your seller's expectations should also produce leads for your business, if it doesn't it is money poorly spent. Your advertising budget should be set in advance.When a seller calls to ask "what are you doing to get my property sold?" running another ad is not a proper response because it will not compel a market response. Always stick to your marketing plan, it worked for all your other clients right? A seller's motivation may change and their patience with the process will often become short, explore the changes in motivation and take the appropriate professional response to create a successful result for your client and your business. Take charge of the situation! Take charge of your career.