- “Am I getting my money’s worth from my current firm?”
- “Is my firm serving me at the level I think I deserve?”
- “What else is out there?”
There’s something that happens every year about this time.
As Halloween approaches, I think it’s a wake-up call for many Real Estate Sales Professionals that the end of the year is near.
This causes a series of thoughts . . . as they reflect on their year-to-date performance and begin to wonder about how the next year will pan out.
Part of this thought process often stirs up notions about their Firm affiliation . . . I believe more and more highly productive agents are becoming more aware that their success comes more as a result of their own efforts than because of the Brand of Real Estate Firm with whom they affiliate.
The bottom line questions are:
This has certainly been the case for me in my 20 years in the industry resulting in me changing firms 5 times.
Every single change I made had positive results. each one was more about moving TOWARDS something new and exciting . . . a firm that I felt would be a “better fit” for my business. None of these changes of firm affiliation were because of unhappiness at the former firm. Each time, it was a business decision.
My last change was September 14, 2010 when I decided that, in order to find the “Perfect Fit,” I would launch my OWN firm Pareto Realty which I knew could be shaped over time to become an established and unique brand in the Middle Tennessee market.
The past several weeks, I have noticed more and more highly productive agents weighing the pros and cons of establishing their own Firm? Some have approached me for my take on whether they should?
When I launched Pareto Realty, I had (and still have) a VERY clear vision as to where I would go with it. I developed a business model and philosophy which, at its core, has changed very little since conception.
It’s not been a cake-walk, and I have some general advice for those folks.
Just because you’re wired to run a highly productive Real Estate Sales business doesn’t mean you’re wired to effectively run a Real Estate Firm . . . they’re different animals.
If you think you’re going to do it to save money (in the form of splits and office expenses), think again. Consider the “OPPORTUNITY COST” of all of the time, energy, and money you’ll have to invest in your launch of a new firm . . . What will that potentially cost you in lost sales commissions because you will have taken your eye off the focus on your Buyer and Seller clients?
So . . . I say . . . if you want to make a change . . . Before making the leap of opening your own firm, get out there in the market and interview other firms to find out if there’s a better fit for you out there . . . and keep your focus on what you do best . . . SELLING HOUSES!
If perchance you DO decide to launch your own firm whether it be a “One Team Shop” or a larger local brand, seek out other independent Broker/Owners and join their “Club” . . . If there’s not a club, start one!
I’m in-process forming my own “Coalition” of “Locally Owned and Operated Firms” in Middle Tennessee, so we can support and leverage each other.
If you’re in Middle Tennessee and you’re thinking about any/all of the above, let’s connect over a cup of coffee before you leap.
I’d be happy to share the good, the Bad, and the UGLY and would love to have the opportunity to catch up.
Oh! One more thing . . .
If you’re curious about getting a flavor for how Pareto Realty is different than the others, just check this link.