Julie's Blog

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

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!

 

84 commentsJulie Ferenzi • March 23 2009 01:55AM

Comments

Julie,

As long as you learn from your mistakes they have value.  I see a lot of agents jump from brokerage to brokerage looking for more leads and more money.  Funny it's usually not the brokerage.  It took guts for you to write this post.

Posted by Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) about 1 year ago

Grass always looks greener... And I agree this is a gutsy post.  Are you planning on staying with the new firm?

Posted by Tammy Lankford/Broker Lane Realty Lake Sinclair-Central GA about 1 year ago

How courageous of you to write this! I'm glad you learned from the xeprience, and you are absolutely right - you are the one that makes the difference, not the broker....

Posted by William James Walton, Sr. Greater Waterbury Real Estate (Century21 Access America) about 1 year ago

Brian and Tammy: I figured if I was going to make a jump, that going back to where I started from was better than hopping around :)  I'm going back to where I started from, and that is where I plan to stay! 

William: I feel like my confidence in myself grew through this experience.  Sometimes we cling to our logos like life preservers, but I think this taught me it was time to swim!

Posted by Julie Ferenzi (CENTURY 21 Hometown) about 1 year ago

I was going to say the same thing as Tammy.  Funny how your gut tells you pretty quickly if you have made a mistake.  All the best.

Posted by Jenny Kotulak Oakville Real Estate (Broker RE/MAX Aboutowne Realty Corp. Oakville, Ontario) about 1 year ago

Personal success always starts with the person. The simplest lessons are the best. That being said, I've discovered that, in some markets at least, company market share, camaraderie, and training can make all the difference, IF those factors matter to the person. A highly independent, confident agent who will self-motivate for training and has what it takes to define and attract their own business can thrive in any setting.

Posted by Bruce Brown (Coldwell Banker Sea Coast Realty) about 1 year ago

Hi Julie,

You are so right.  Wherever you are makes the difference more than the broker it is the agent.  You have become a better agent for everything you have been through and I know it will help you in the future even though it was expensive and painful to learn these lessons.  We are the sum of all of our experiences good and bad and that is what makes us what we are.  Good for you.

Posted by Paddy Pizappi PineBush & Hudson Valley NY Real Estate (RJ Smith Realty Real Estate Solutions) about 1 year ago

Good move. Going back where your comfortable I mean. I think your correct saying that your business is up to you and your office is on four wheels. Thanks for the post.

Posted by Craig Guffin Realtor® Sedalia Mo Real Estate (Coldwell Banker Monsees Realty) about 1 year ago

There is an old saying that my husband uses. "Its not the land its the man". Or in our case wo-man. It just means that its all up to you not the enviroment or name. I have a similar arrangement and It is lovely. Im not going anywhere.

Posted by Laura Jefferson (Acquire Real Estate) about 1 year ago

Julie, I agree and it's not broker bashing to say that it really is up to the individual agent. Except for a couple of relocation referrals every once in a while, the broker does little to promote the "individual" agent. Rich

Posted by Richard Iarossi, Crofton MD Real Estate, Annapolis MD Real Estate (Long and Foster® Real Estate, Inc.) about 1 year ago

I agree-it is the agent the client meets and forms an attachment to, not the broker! We are the ones in the trenches doing all the work! A mistake is only a mistake if you don't correct it.

Posted by Lisa Schlitz Realtor® Wellington Florida Homes 561-214-3216 (Limelight Realty) about 1 year ago

Where to start! Great Post Julie! You are SOOO right! There's another side of it too. I have owned, managed and simply been affiliated with several brokerages over a 29 year career. When I have changed brokerages people warned me that I would lose business...never happened. My folks came with me or found me and hardly noticed the logo change. It was me they were loyal to.

I always made changes to find the brokerage that would give me what I needed as support in the field and as my needs changed over the years. Sometimes that's hard to tell from the outside looking in and if you make a mistake or your needs change; change again!Just keep up with your base!

I'm happy to say I have found the place I will be for the rest of my career. A strong, regional brand with national ranking and a solid, progressive leadership and NO debt. They GET that they are here to support ME! We will still be here when the smoke clears and I will still be successful!

Posted by SarahGray Lamm~REALTOR~ 60K Hours of NC Real Estate Experience~ (Allen Tate Realtors Chapel Hill, NC 919-819-8199 ) about 1 year ago

The biggest objection I get is that people feel better about listing with a larger firm or chain than an independent like mine. They are hung up on the label, or that there would be "150 agents in the office trying to sell YOUR house" (yeah, right). People in the know, especially expired listings, do not buy into this. It is the agent.

Posted by J. Philip Faranda (J. Philip LLC) Westchester County NY about 1 year ago


GReat post, the old way of doing business is falling by the wayside,  Agents that are proactive will prosper.  Good luck, the economy will rebound and those still in the business will be okay.

Posted by Home Realty Group about 1 year ago

Julie,

Glad you learned a lesson. I see agents hopping from company to company and they loose sight of keeping focused on their business! It is the agent not the company but I have to admit I love my company and my VP of sales..no grass is greener for me. My work environment is important to me and I thrive where I am.

Posted by Dorie Dillard: Canyon Creek & NW Austin Living (Coldwell Banker United) about 1 year ago

Julie,  Unfortunately most lessons are learned though some pain.  Sounds like you learned some important facts and congratulations on "fixing" your mistake.  I am an owner/broker.  Recently two new and wonderful agents joined our firm.  They continue to tell me how exciting it is to work with a firm and a broker who thanks them.  I am well aware that the success of my company is the wonderful agents working out there in the field.  I work for them and they know that.  Good luck in getting back into an environment that works for you.

Posted by Marian Goetzinger Crystal Coast Real Estate NC (Pine Knoll Shores Realty 252-422-9000) about 1 year ago

Well, thank you for posting this.  I have been approached by several other brokerages here in my area and have not made a move.  BUT several others have.  I am comfortable where I am, I like my fellow Agents and I know my way around the office.  How much more energy it would take to get re-established among agents and personalities!  I would much rather go sell or list someones home! Thanks for the re-enforecement!

Posted by Evelyn Johnston Real Estate Agent Elkhart Indiana Subdivision Specialist (Prudential One Realty) about 1 year ago

I left a large company to go to a smaller new upcoming company so that I could get the higher commission  and I couldn't be happier. It did not make my business faulter at all. It truly is whatever the agent makes it. There are many bad agents in well known companies. You can't judge a company by some of it's people. There are good and bad in all so people should choose their agent by their reputation, not the company they are affiliated with.

Good luck to you and your decisions.

Posted by Gayle Rogers about 1 year ago

Hello Julie (my fellow Illinoisan)  You are absolutely correct! The Agent certainly makes the difference.  I am especially inspired by your post because it hits home so well with me!  In this business (and every business) it's those that make it happen who are the achievers.  As broker/owner we are so excited to announce shortly an excellent addition who will come on board with us after being with a "name brand" for over 6 years!  She is an achiever in her own right and will no longer pay excessively for fees.  We are grateful to have her on board, but she is the more!  Thank you for having the guts to share the TRUTH here on Active Rain, and congratulations on a well deserved feature!  I also pray that you will soon recover from the losses - which you will, for you have the winning attitude!

Posted by Diane Rice, Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL about 1 year ago

... I think your title says it all Julie !!!

Good lesson to share and congrats ont he feature :o)

Posted by Sheldon Neal ~ That British Agent ~ Bergen County NJ (Bergen County, NJ - RE/MAX Real Estate Limited) about 1 year ago

Julie  my small agency just ( closed ) merged with a larger national name ( similar to your current ) I chose to go with the merger I could have gone on my own or looked for another small agency- trouble was most of the small agencies are in trouble & will be going out of business or merging with another - it gets costly signs, cards, etc.  Hope your new ( old ) company is financially secure 

Posted by Homes for Sale Fall River Mass Real Estate Westport MA REALTOR Karen Martin (Re/Max Right Choice Real Estate ) about 1 year ago

You are right. And, it's important for clients to remember that the number of years in the business is not always relevant.

Posted by Linda Greco Baltimore and Harford County Real Estate (Exit Preferred Realty) about 1 year ago

There are many great comments before us but would have to agree that you were very courageous to share this with everyone.  Congratulations on being featured!

Posted by Yvette & Dennis Gardner (Keller Williams Realty, Spartanburg, SC) about 1 year ago

Holy Cow.  I woke up this morning to a stuffed inbox.  Getting a feature is like waking up on Christmas morning to a blogger ;)

I'll catch up with everyone later.  Thanks for all the support, and for sharing your own experiences.  It's experiences like this we all can share that help others when faced with the same decisions.

Posted by Julie Ferenzi (CENTURY 21 Hometown) about 1 year ago

Thanks so much for sharing your personal story and congratulations on being featured!

Posted by Christianne Gordon, REALTOR® e-PRO CDPE SFR Carson Valley Real Estate Specialist (Carson Valley Homes and Land - RE/MAX Realty Affiliates) about 1 year ago

Thanks for being brave enough to post this.  It is helpful for many.  Jumping from brokerage to brokerage definitely does not seem like the way to go.

Posted by Irene Tron (Jarrett Real Estate) about 1 year ago

So true....let's face it nothing's perfect!  We, the agent , is the one who makes the difference. We do the same job with any brokerage agency.

Portsmouth NH Real Estate

Posted by PATRICIA AULSON, REALTOR Portsmouth NH Homes-Hampton NH Homes (PRUDENTIAL VERANI REALTY- Portsmouth NH Real Estate ) about 1 year ago

Julie, it isn't always easy to be so open about mistakes.

Thanks for being so courageous to do so.

Good luck with the switch back.

I'm sure you'll keep us posted on the progress.

Posted by Andrew Haslett, Heartland of Kentucky's Best Home Inspector, (Van Warren Home Inspections, NAHI CRI) about 1 year ago

Hi Julie,

Great post. From the outside looking in (as a buyer or seller), to me it's all about the agent. I have no idea about their office training, commission splits, support mechanisms, or anything of that nature. And if I find someone I respect, trust, and like, it wouldn't matter much where they worked.

Just my 2¢
: )

Posted by Michael Cole (CPG Tours) about 1 year ago

What a great post!  Thanks for sharing your advice with others.  My agency is the "new kid in town" as we are only two years old, but the owner has been selling real estate in the area for longer.  Of the 10 agents we have 7 of them came from other agencies and love it here because we are the most up to date agency, there is close to a 20 year age gap between our owner, and the owners of the other three agencies in our small town.  What I learned from the agents that came in, is that if you are a good agent, which most of them are, your clients will follow you wherever you go.  Our agents that made the switch love it here, so in some cases switching may be good.

Good luck in the future!

 

Posted by Kristen Hall REALTOR® Shippensburg Real Estate (Jalex Real Estate Services) about 1 year ago

This is a hard lesson, but you're so right that it's good that you learned it in one jump!  Congrats on being open to paying attention and not just breezing through the lesson like too many of us do sometimes :-)

Posted by Christine Wade (N. San Diego Cty. RE Agent & Real Estate Virtual Assistant) about 1 year ago

You are right and the proof is that even small brokers do business, if it was all just the office then the franchises would be the only ones doing business

Posted by JR Sangiuliano (CENTURY 21 JRS Realty) about 1 year ago

Such a great post. I like your point that when you change your office you need to include the cost of marketing that change. Great message to the buyer & seller. You can create another blog about the message. Good Luck

Posted by Ritu Desai (Samson Properties) about 1 year ago

Great blog Julie.  If anyone is going to do it, it has got to be you!  I have discovered this many times in this business.  Good luck and stay positive!  I'm sure your previous office is going to welcome you back.

Posted by Anonymous about 1 year ago

There is no doubt that the agent must make his/her own way; but, there are occasions when the logo may win business because of brand recognition.

Posted by Stephen Graham (Inactive) about 1 year ago

Julie, that is some plan that your "old/soon to be new" agency has! Wow! I spent my first 8 years at the "biggest/best" in my market. I did love their brand and their attitude. Then I figured out it was the broker and not the company. I left the area and when I came back I moved to a different market area, the broker had opened a different office and I had decided that I wanted to keep more money in my pocket. I chose a company that shocked some even thought it is not new and has about 1300 agents in the area. But the office I picked is 50 miles from my home and market - and guess what? I am having one of my best years! I am excited for you! We are our business - it is us that makes or breaks it!

Posted by Jo Soss [360] 990-1433 Designated Broker|Owner Homefront Realty (HomeFront Realty ) about 1 year ago

Thanks for the post Julie.  I agree with you 100%.  In todays advanced and technological environment agents can work from anywhere.  I work with REO's as a listing agent and to make it profitable I take on ALL of San Diego County all the way up to Riverside.  My time is spent in my car, on my iphone and at coffee shops with my laptop, broadband internet card & digital camera.  I can send and recieved purchase agreements paperlessly using docusign and my TC handles as much of the transactions she can from the office.  I couldn't image working any other way.  This business is all about marketing yourself, working hard and expanding your relationships.  Although working for a great brokerage with helpful training is a plus, hard work, great ethics & dedication come from within!

Posted by Ryan Prazen (Keller Williams / San Diego Realty, Inc.) about 1 year ago

Julie - I have always thought that the only thing that matters about a broker-agent relationship is what the support is like from your broker to you.  Other than that, not much of it matters.  My broker is available and loves to sit and chat and answer questions that come up.  We have a once a week training session that is basically an open forum.  We bring questions and talk them over.  Its a great way to learn new ideas and how to do different thngs.  He's always looking for ways to give you just the right push to be better.  That's what matters to me.  Nothing else.

Posted by Matt Stigliano (RE/MAX Access (210) 646-HOME) about 1 year ago

Sometimes the "corporate cool-aid" is not so sweet...  Great post!  Best wishes and continued success!

Posted by Ruthman Real Estate (Accessibility & The Power to Advise) about 1 year ago

I have never worked for a traditional split brokerage, not even when I started. I have always believed it was about me and not the company I work for.

Posted by Overland Park Real Estate and Homes for sale :: Michael Russell (Overland Park KS Realty Executives ) about 1 year ago

Julie ~ Congrats on the feature.  It's so true, it's the agent, not the agency.  If you know your "stuff", your people will follow you.  Mine have, and I have moved twice in my career, and I'm better for it. 

Posted by Macy Harney, GRI, ABR (Loomis Real Estate) about 1 year ago

Julie, 

You have the wisdom that only experience can provide. Just like the story "acres of diamonds" of believing where you are is as prosperous as traveling to a new location, you have the knowledge that now you understand the secret of doing well wherever you find yourself.  Smart Lady, smart choices!

Posted by Harold Reed, Broker, Auctioneer Knoxville Homes Authority (REMAX Preferred Properties) about 1 year ago

Thanks for sharing. We all learn from doing things that aren't always the best. Good luck to you in all your future business.

Posted by Anonymous about 1 year ago

We are a small boutique  real estate office in Ventura with a core group of several agents. Some of us have been working together for almost 20 years! Having weathered the corporate office action and what they do to your commission check I can say you are making the right choice.

The days of walk-in's, corporate referrals, etc. are a dim memory and I know that 85 % of my business is repeat or referral clients. You don't need a big brand name to keep that going or to network online. Good luck Julie! (It's almost April 1st!)

Posted by Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) about 1 year ago

Julie,

I could have told you this, "It's the agent that makes the difference!"  :)

What this business comes down to is personal relationships, and that means your relationship with your clients, not your brokers.

 

Posted by Mark MacKenzie Real Estate Planning about 1 year ago

Julie, that is a good observation.  I believe strongly that the brokerage has much more responsibility than simply being a "fancy wrapper".  They should not be competing with their agents; but rather, they should work hard to bring more value to the brokerage -- contracts and large-scale opportunities in which all their agents can participate.

Join my new AR group and post your blog at http://activerain.com/groups/virtualoffice

Regina P. Brown

Posted by Regina P. Brown Real Estate on the California Coast about 1 year ago

Julie, that is a good observation.  I believe strongly that the brokerage has much more responsibility than simply being a "fancy wrapper".  They should not be competing with their agents; but rather, they should work hard to bring more value to the brokerage -- contracts and large-scale opportunities in which all their agents can participate.

Join my new AR group and post your blog at http://activerain.com/groups/virtualoffice

Regina P. Brown

Posted by Regina P. Brown Real Estate on the California Coast about 1 year ago

Julie, I could not agree more!  It's what is inside that "package" that counts!  I've seen some pretty crappy agents from ALL agencies.  I have never been an office hopper either.  Too many agents switch offices thinking they will hold the key to their success.  WE hold our own key!  Good for you for realizing it and heading back to your old office.  I'm sure they are thrilled to be getting you back!

Posted by Elizabeth Cooper-Golden Huntsville AL MLS - (Huntsville Alabama Real Estate, (@ Homes Realty Group)) about 1 year ago

Julie - I applaud you for doing what's right. You're absolutely right that real estate HAS changed. It's NOT the same as 5-10 years ago. It changes monthly. The agent makes the difference and too many agents rest on the brand name to bring them business. Not so...not all the time. And holy cow - a C21 office with 100% commission and $35 per month? And I thought my fees were low (no monthly with a 95/5 split). Way to go! I'm rooting for you.

Posted by Kim Daugherty, McKinney REALTOR, TX Broker (d + b real estate) about 1 year ago

Julie,

This is so true. How successful you are, all depends on you. Sometimes we have to learn the hard way what is going to be best for us. (I do it all the time.)

-Lisa

Posted by Lisa Udy Logan Utah Realtor ( Platinum Real Estate Group) about 1 year ago

Beautifully written.  Many brokerage companies try to brain wash agents to believe that it is the company first and the agent second.  The brokerage company is almost meaningless.  Just a tad of extra branding helps.  People are buying you not xyz company.  Always remember that. No one has ever ever ever ever come to me because I work for Keller Williams.  Ever... Did I say ever?

Posted by Tim Moncrief (Bartlett Real Estate Group of Keller Williams ) about 1 year ago

Julie,

That really took a lot of courage to admit you are wrong...many people in my area have switched offices also only to find out that the grass is not always greener. 

I wish you lots of luck and success with your transition back to your original office.

 

Posted by Denise J. Storm, Broker Associate, Durango, Colorado about 1 year ago

Julie, really great post. It's a subject matter I have been toying with myself; distance is the factor I have been pondering and this post hits home for me.

Posted by Teral McDowell Plano Real Estate 972-795-2571 (Posey Properties ) about 1 year ago

Switching back on April Fool's Day?  OK, you've beat yourself up enough!

Posted by Joetta Fort - Realtor Denver Colorado Real Estate (The DiGiorgio Group) about 1 year ago

I agree it's the agent that determines their level of success. I am with a big brand but the Broker and I have a combined 66 years experience and I take a large split that more than compensates for the Corporate fees.

Good luck to you at the old/new company.

Posted by Cameron Wilson: Murrieta/Temecula/ Menifee California Real Estate (Century 21 Tri Valley Realty) about 1 year ago

Julie, you said it!! I too, was with the great and powerful "OZ" and made no money to speak of.  1 year later, I decided to go with this new company, now very well known, but 6 years ago, not so much. I wasn't sure if I was making a mistake leaving "OZ", but soon found out that names mean nothing, With my first company, I sold the company name, not me, with my second company, I sold "me" and that is when I began to be successful in this business. It is the Realtor, not the company the Realtor is affilated with, that gets the listing and sells the property. Great Post! Thanks for reminding me that I made the right decision.

Happy Trails,

Kathy B

Posted by Anonymous about 1 year ago

Hmmm, sorry for the 2nd attempt at this response, but here goes...

I too, was with the great and powerful "OZ" and made no money to speak of. One year later, I decided to go with this new company, now very weil known, but 6 years ago, not so much. I wasn't sure that leaving "OZ" wasn't a mistake, but soon I found out that I was was simply relying on a  name to sell myself. Once I started believing in myself and selling my abilities, I became successful in the business. It truly is the Realtor and not the name that will sell a home. You can put that in the bank!!

Happy Trails.

kathy B

Posted by Kathy Baker, GRI Tennessee Realtor (Realty 1) about 1 year ago

Thomas Friedman was right about the flatening of the world. Web 2.0  has tolls for us as individuals that give us more power than we have ever had. I have been with RE/MAX for 15 years, and my business is related to what I create. No borkerage can make your business, nor can any franchise. We are best when we are in a happy supportive environment. My brokers make more of a difference than anything RE/MAX International has to offer.

Posted by Joe Pryor.com REALTOR® Oklahoma Investment Properties (Redbud Realty) about 1 year ago

Julie...

I guess that I look at it as a team effort ... not as an adversarial relationship, but if you don't work together well there is a problem!

Posted by Richard Weisser Coweta Fayette Real Estate about 1 year ago

I agree 100% that it is the agent that matters, but I do like being affiliated with a large brand name.  We are getting more business from the internet and those people don't know us - they are not personal referrals.  So to have a large, well-known name brand in your logo can help these people feel comfortable.  With personal referrals, they normally don't care what company you are with.  I did, however, have a client whose frind asked him how we could sell his house when we worked for a company she had never heard of - this was at a previous brokerage that was not well-known in the area.  He was considering changing listing agents because she had put doubt in his mind but after we talked more (he was very nervous), he decided that it was more important that he was comfortable with us.  We successfully sold his home in time for him to relocate out of state so it all ended well. But I will say being with RE/MAX, we never hear "RE/MAX who?".

Posted by David & Lisa Webber, www.webberteam.com (RE/MAX Executive) about 1 year ago

Julie ... I have been contemplating this for almost a year.  Were the lower fees worth it?  I have to say that the National Exposure of a big company has reallyl helped my career.   I HATE writing the check every month but it has paid off for me.

Posted by Pippa MAC, The Woodlands TX Real Estate Remax Real Estate Spring Texas Realtor (Remax Realtor, The Woodlands and Spring) about 1 year ago

Hi Julie,

I see Agents move from Broker to Broker all the time and can not immagine how tough it must be to change everything over. I have been with Keller Williams Realty since I became an Agent and find no reason to switch. I do not know what other Brokers offer to intice Agents to Switch, however I am being asked all the time to do just that. I have considered "taking the tour" just to see what they offer offer, but don't want to waiste anyone's time, especially my own. I get busier every year and enjoy being with the 3rd largest company in the US.

Are you going to or leaving ReMax?

www.MBShomes.com
Ray Spitler

Posted by Ray Spitler, CSSA, CSSP, GRI, e-Pro (Keller Williams Realty) about 1 year ago

Ugh, I'm so mad at myself!  I promised myself this morning I was going to keep up with the comments and once again... there is no way I'll be able to. I had a Dr.'s appointment this morning for my 27 week check up!  13 weeks ago and I'll be a mother of 5!!!

Thank you again to everyone who participated in this conversation.  I think there are some real sticking points in the commentary here on this post!  Thanks again for sharing your thoughts :)

 

Posted by Julie Ferenzi (CENTURY 21 Hometown) about 1 year ago

First of all, I don't think you made a mistake by making the move.  It was a good lesson and one that is likely to serve you very well in the future.  I agree that the location of your office is not important in these days of virtual real estate.  The good thing about leaving a company in our business is that most of the time they have revolving doors so you don't have to worry about being out in the cold should you ever change your mind.

I love your "fancy wrapper" line and would love to use it sometime in the future with your permission.  A wise owner/broker told me many years ago when she was trying to recruit me, "you don't need me and you don't need any of the other brokers out there.  You could work from the trunk of your car, but I'd love to have you join us."  It's so true.  You are your product and as long as you make the most of it and always strive to do it better, you'll do well whichever wrapper you choose to affiliate with.

Best of luck in the move back.  Backward is sometimes the best direction. 

Posted by Geri Sonkin (RE/MAX Hearthstone) about 1 year ago

Geri, you have my permission, and I'm honored :o)

You are right... backward is sometimes the best direction! (I may have to use that sometime if you don't mind, lol.)

Posted by Julie Ferenzi (CENTURY 21 Hometown) about 1 year ago

I have been with multiple companies since I first got into Real Estate... All of the companies had great things to offer. It is hard to leave a company and do all of the switching but where you feel comfortable is probably the best choice. Even the compensation shouldn't be the #1 deciding factor... It is funny because although people think it could hurt them moving from company to company. I have never felt it hurt my business. Many of my clients probably don't know where I work today. I market myself.

An old Turkish expression for you:  "No matter how long a time, or how short a time, you have gone down the wrong road, Turn Back."

Looks like you did the right thing and turn back!!!

Best Wishes to you and to your family!

Posted by Nicky Dou | Century 21 Exclamation Realty (Real Estate in Northwest Arkansas) about 1 year ago

 

Hello Julie,

I know where you are coming from. I have moved a couple of time but finitely I am happy with the real estate company I work with. My manager is the best manager I have ever worked with. We are constantly in training to keep up with the current market and because of that, I have being involved in to the current market since the foreclosure market started a beginning of 2006.  I have done several short sales and have to negotiate with the banks. I have represented buyers with REO'S and I am helping several consumers with their loan modification free of charge as a service to my community.  We all needs to keep on learning because the market is changing. Thank you for sharing your blog it might help other to learn from your experience.

Posted by Mayra Espinosa 650-996-8961 San Mateo Short Sale Agent/Foreclosures Specialist (Prudential|San Mateo CA|San Francisco Bay Area| CA) about 1 year ago

The best real estate company is no real estate company.  Being my own broker was the solution for me.  I got absolutely no benefit from being with a broker, name brand or niche. 

Once a person generates all of their own business to a level of sufficiency, there is no reason to pay a dime to another broker, name brand or not.  Personally generated business has got to be the best business when one doesn't have to pay and pay to be affiliated with any brokerage.

That said, if I was going to affiliate with any name brand, it would probably be RE/MAX.

 

 

Posted by Lenn Harley, Real Estate Broker, Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) about 1 year ago

Julie - thank you so much for this wonderful post.  My husband recently became a licensed Broker in CO.  He was having a hard decision on whether to set up shop on his own ar go with one of the already established companies in the area....yes, we do have most of the nationals here. I told him to go with his gut...he did and is now in the process with establishing his own Brokerage.  I am also currently working towards getting my CO Brokers License and have been trying to decide if I should hang with my husband or go out to another company...your post is timely and reinforcing my decision to keep my license with the hubby...thank you for sharing your story :)

 

 

Posted by Palm Coast/Flagler County Real Estate Martin Collins & Kristi L. Ross (Prudential Warren Real Estate) about 1 year ago

Julie - While I agree with your basic premise that it is the agent and not the brokerage that usually makes the difference in how successful the person is going to be, however, I don't see the brokerage as a fancy wrapper.  Perhaps it's because I'm not a Realtor and that this could be one of the differences between a real eastate brokerage and a mortgage brokerage.

I just recently made the change from a small, local broker to the large, national broker and so far, I have no regrets.  Quite the contrary, I wish I had done it sooner.  I labored long and hard over the decision and spent months researching numerous mortgage brokers and talking to all my mortgage friends as well as references of people who worked for the brokers that I was considering before I actually made the change.  For me, it was a case of being able to take my mortgage career to the next level.

For me, my broker isn't just a fancy wrapper but rather part of the foundation for my business.  For me, my broker has given me the tools to succeed and now it is up to me to take my business up and on.  In the mortgage industry, lending sources and lender relationships are a key component and vital tool to an LO's success.  If we don't have excellent relationships with those key lending sources, conducting business becomes much more challenging and quite honestly very stressful.

With a large national broker, I have access to the best lending sources in the industry and many of those relationships are very strong and long standing, which was something that was lacking with my previous broker.  Last but not least, I'm actually getting more bang for my buck by paying less fees and getting more services.  While I will miss the people I worked with for more than four years and the convenience of a local office, I feel that the benefit of serving my clients better will make up for what I lost.  I believe I made the right decision in changing and I have no regrets. 

Posted by Donne Knudsen, NMLS#249822, DRE#01364050 (Cobalt Financial Corp.) about 1 year ago

Sorry Julie, I have to disagree.  I just received a interesting study done that I will post soon about how people search for realtors.  Yes, one is you but there are other secondary features that buyers or sellers take into considerating and one is where you work - name brand or not.

Good luck in your return to your old brokerage!

 

Posted by Lyn Sims and the Blog Dog© (RE/MAX Suburban) about 1 year ago

Julie, I am delighted to read your post.  I have been preaching this same message for about two years in my neck of the woods, and all I get is nasty posts by one of my competitors who has spent a fortune trying to recruit agents like you and me to support their little empire.  You are dead right.  I have been asking clients for two decades what matters to them and how they choose an agent, and the brick and mortar and other public image advertising are NOT even on their list.  Clients want an agent who is knowledgeable, competent, and trustworthy.  Experience doesn't hurt either.  I've been building clients through my own blog at http://SequimRealEstateNews.com and I love it.  I insert this here so my colleagues can see what kind of blog is working, besides our AR blogs.  You've got to love this Internet and technology stuff that allows clients to connect with us, and allows us to increase our effectiveness and reach.  Goodbye traditional brokers, or so says the majority of clients.

Let's not forget, our own NAR told us over 80% of all home buyers start their search on the Internet.  Wow!  That's not a walk-in.

Oh, by the way, there's nothing like keeping 100% of my commissions and having extremely low overhead.  This alone tripled my net commissions.

Posted by Chuck Marunde (eXp Realty dba Sequim & Port Angeles RE) about 1 year ago

Wow way to go Julie. Great post and great response.  As an owner/broker of a small company, formally with a huge company for years, I absolutley know it's the agent that will make or break his or her career. We are small group but we're like a family. We do business the old fashioned way. And I believe as the broker that it's part of my job to assist the agents in whatever they need and to keep the office relevant in the marketplace......whatver that looks like these days!

So if you every move to Phoenix............we'd love to have you join us!

 

 

Posted by Anna 'Banana' Kruchten, Phoenix Property Shoppe 602-380-4886 about 1 year ago

What a great post !  Totally agree.  A strong agent will be successful in any office.  In general, the office will not create a strong agent although it can.  I agree that the office will provide ancillary benefits and should be considered on a case by case basis.

Posted by Christopher and Stephanie Somers - Realtors - Philadelphia Real Estate (Owner - RE/MAX Access) about 1 year ago

Julie, Great that you are finding your way back to a better home for your business. I actually left a name brand company in May of last year to go to a 3-year-old company (Sky Realty) where I was promised training on how to use the internet to build my business. The promise is still being fulfilled. My wife and I are very grateful for the changes we see taking place. We are also blessed withe good relationships within the office.

Jim Gilbert, Sky Realty/Heart of Austin Homes

Posted by Jim Gilbert about 1 year ago

Hey Julie, It seems that the grass is always greener, isn't it?

Posted by Marian Gregor ~ Ann Arbor area Real Estate ~ (Keller Williams) about 1 year ago

Julie --- guess you're all the better for having made the move only to realize you should have stayed with your previous company. Glad you were able to rejoin them.

This further underlines the importance of having all your contact information directed to you, where you go. Having your own website, your own domain, your email that goes with you regardless of which brokerage you're with, your name riders, etc.

We have an agent who joined our company recently. When it came to her decision, she focused on the support, the technology, the marketing knowhow as the reasons why she switched. It was good that we like her and she likes us. So everything is groovy.

Posted by Pacita Dimacali - ePRO, SRES, CDPE, Alain Pinel in Northern California (Alain Pinel) about 1 year ago

Hi Judi,
We learn and profit from our mistakes.  You don't forget lessons like this.

Posted by Cynthia Tilghman, Realtor® Onslow County NC Home Specialist (Kingsbridge Realty, Inc) about 1 year ago

Julie, I have learned so much by changing offices and even moving across the country.  When I first moved to NC I thought I should go with the largest locally owned independent.  After a year I realized I would be much better off so moved to RE/MAX.  As hard as it is to move, you are doing the right thing to move back to the right office for YOU!

Posted by Lake Norman Real Estate ~ Diane Aurit (LKN Realty, LLC) about 1 year ago

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.

Posted by Kelsey Barklow, Your Johnson City Tennessee Real Estate Pro (Crye-Leike, Realtors) about 1 year ago

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!

Posted by Sonya Loose, Associate Broker, ABR, GRI, (Gladwin MI Real Estate (Homewaters Real Estate) ) about 1 year ago

I wholeheartedly agree.  Do what is best for you.

Posted by Mike Henderson 303-949-5848 Genius Ventures (People-Property-Money ~ Everything the Investor Needs) about 1 year ago

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

Posted by Jerry Gray (Allen Tate Realtors) about 1 year ago

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!

Posted by "The Lovely Wife" (Broker Bryant's Wife) The One And Only TLW. (President-Tutas Towne Realty, Inc.) about 1 year ago

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