Some real estate agency owners believe you need a big name to survive in the marketplace. This is not necessarily true. We have all seen franchised offices, marketing group offices, and independent agencies go broke. We have also seen many thrive and trade successfully for decades.
There has, however, been a growing trend in recent years of simply placing an individual’s name above the door. It feels like there is a “Joe Smith & Co.” in every suburb. The challenge with this approach is that the business becomes tied solely to the individual who bears its name. Try growing a business with that as your anchor.
So, what makes the difference between success and failure? Is it the name?
No. Definitely not.
The difference between going broke, or merely surviving, and building long-term profitability is the calibre of the person leading the business and the strategy behind it. All successful businesses require strong, competent leadership. What those leaders choose to call their business makes far less difference.
In my opinion, both very little and quite a lot.
When you join a marketing group or a franchise, you are effectively buying a name. It is a name you do not own and one you have limited control over.
The challenge with buying a name is that there are so many available, all claiming to be better than the others. There are so many, in fact, that most have lost their uniqueness in the marketplace.
Can you really see a meaningful difference between them?
Each claims to be bigger, better, and more effective in its branding. But in reality, what does one offer that another does not? Whether marketing group or independent, the differences are often far less significant than they appear.
On the other hand, using your own name as the brand can also limit the growth of your business. Real estate has always been about developing the skills and relationships of your salespeople so they can build and nurture their own business within your business. The best agents possess an intrapreneurial mindset.
When the business is built around your personal name and profile, it can restrict the opportunity for others to grow. Over time, this often leads to strong performers leaving to start their own agency.
At Smartre Training, we strongly believe that we are not here to train and build your next competitor. Our focus is on helping leaders build great agencies, while also creating clear pathways for their people through partnerships and succession.
As Walt Disney once said, “If you want to accomplish something truly worthwhile, think beyond your own lifetime.”
Unfortunately, many real estate agents do not think beyond the next sale.
We are here to help challenge that thinking.
Will the name of your agency change the trajectory of its success? Yes and no. But either way, it will have an impact.
We work with agency leaders at all levels, from creating listing opportunities through marketing to helping define the next five to ten years of their business.
If you would like someone to talk through your ideas with, reach out to us anytime. At the very least, we get to talk real estate. At best, we help you build something great.
Some real estate agency owners believe you need a big name to survive in the marketplace. This is not necessarily true. We have all seen franchised offices, marketing group offices, and independent agencies go broke. We have also seen many thrive and trade successfully for decades.
There has, however, been a growing trend in recent years of simply placing an individual’s name above the door. It feels like there is a “Joe Smith & Co.” in every suburb. The challenge with this approach is that the business becomes tied solely to the individual who bears its name. Try growing a business with that as your anchor.
So, what makes the difference between success and failure? Is it the name?
No. Definitely not.
The difference between going broke, or merely surviving, and building long-term profitability is the calibre of the person leading the business and the strategy behind it. All successful businesses require strong, competent leadership. What those leaders choose to call their business makes far less difference.
In my opinion, both very little and quite a lot.
When you join a marketing group or a franchise, you are effectively buying a name. It is a name you do not own and one you have limited control over.
The challenge with buying a name is that there are so many available, all claiming to be better than the others. There are so many, in fact, that most have lost their uniqueness in the marketplace.
Can you really see a meaningful difference between them?
Each claims to be bigger, better, and more effective in its branding. But in reality, what does one offer that another does not? Whether marketing group or independent, the differences are often far less significant than they appear.
On the other hand, using your own name as the brand can also limit the growth of your business. Real estate has always been about developing the skills and relationships of your salespeople so they can build and nurture their own business within your business. The best agents possess an intrapreneurial mindset.
When the business is built around your personal name and profile, it can restrict the opportunity for others to grow. Over time, this often leads to strong performers leaving to start their own agency.
At Smartre Training, we strongly believe that we are not here to train and build your next competitor. Our focus is on helping leaders build great agencies, while also creating clear pathways for their people through partnerships and succession.
As Walt Disney once said, “If you want to accomplish something truly worthwhile, think beyond your own lifetime.”
Unfortunately, many real estate agents do not think beyond the next sale.
We are here to help challenge that thinking.
Will the name of your agency change the trajectory of its success? Yes and no. But either way, it will have an impact.
We work with agency leaders at all levels, from creating listing opportunities through marketing to helping define the next five to ten years of their business.
If you would like someone to talk through your ideas with, reach out to us anytime. At the very least, we get to talk real estate. At best, we help you build something great.
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