From a marketing perspective, the traditional Brokerage has always been a challenge because of its need for dual messaging. On one hand, Brokers need to continually recruit within the agent community. On the other hand, Brokers need to continually promote and sell to consumers to bring in the leads to satisfy the promises made when recruiting.
It’s a vicious cycle. But, more importantly, it’s a lot of messaging. It’s a lot of marketing. And, it’s a ton of money. Is it any wonder this business model only works on volume? Historically, Brokers needed to be a part of a national franchise to pull this off.
But, things change. Messaging changes. Sales agents no longer wanted to carry the financial burden of a franchise. As agents sought cheaper alternatives, Brokers were faced with offering less. Ten years ago, Wynd Realty jumped to the position of not even trying to be a traditional real estate company. At our onset, Wynd was a brokerage, “services company”. We never attempted to market to the consumer. And, we never made an agent promise we couldn’t keep.
But, as proud as we are of Wynd, are we the brokerage of the future? Probably not.
What is a real estate Brokerage? What does it mean? Today, a real estate brokerage is whatever the consumer thinks it is. If Sellers work with “the Charles Team”; then the Charles team is the brokerage. The consumer could care less if the Charles Team was a part of a Re/Max franchise or a DBA under Wynd. The “brand” has become the Brokerage.
Not content as just another in yesteryears franchise herd, todays agents are very brand aware. They are either creating their own brands or actively seeking out brands they personally identify with. So, if brands are the new brokerage, and everyone wants to be their own brand, ergo, everyone must be a brokerage? Well, sort of. Still, it wouldn’t be so bad it everyone “thought” that way?
As national franchises continue to fade, the job function of being a Broker can be thought of in two ways: either as a standalone business unit, or as a chore within the operation of a brand.
As a services company, Wynd Realty adopted the Proctor & Gamble approach to marketing. We function in the background and allow multiple brands and products to drive the consumer messaging. Our revenue is a flat service fee paid by agents.
Localized or niche specific “Realty Teams”, each with their own unique messaging and construct, are the new franchise replacements. Their revenue is commission based on sales; usually paid by the seller. Still, within the team or brand, the logistical “broker” functions must be maintained. To a team, the Broker function isn’t revenue, it’s a hassle. Somebody on the team has to be responsible for playing the role of Broker.
Given that, real estate brokerage can be divided by those who create brands and by those who enable brands. Wynd Realty is the later. We believe our role as a change agent is to help others see their vision. And, those visions can vary between the part-time agent earning vacation money and the next realty mogul who will rule Atlanta for years to come.
Brand Management in real estate, is a career option well positioned for the future. If you are a licensed real estate agent and have interests in Real Estate Brand Management, we would love to speak with you. (email@example.com) We’re looking to expand our company and are actively seeking forward thinkers who can reach out to others.