Small Office or Major Corporate Brand to handle REOs?

Before I opened my own office, I was with a big named real estate company. I felt that being part of that corporate structure was something I wanted to experience. I've always been part of the small business world and truly never thought going corporate. However, two years ago I took my chance at a corporate office and here's my experience:1. The corporate culture taught me lead generation, contract, escrow classes and such, but when you actually get down to the nitty gritty, contract and deals are within you. Anyone can do a cookie cutter deal, not everyone can look at a deal and make it better, especially if you are looking for the benefits of your clients. Therefore, the work that I did as far as production and lead generation was all MY effort.2. I never saw any of the "brokers" that owned/operated the office. Only the broker-in-charge that was there for review. They may have taught a few classes once in a while, but my interaction with them was pretty much nil. This may be personal to me, but I'd like to see newcomers and greet them because I thought it was respectful, especially if they are going to do the hard work for the company.3. It boiled down to the money I had to depart after close of escrow with splits plus additional fees like printing, tech fees, so on, I felt I was penny pinched. Was it worth plus E&O each year to pay for the support staff and brokers? I was also responsible for my own marketing and Board fee and any expensing involved with listings. I was doing everything on my own and absorbing all the overhead in my own office.Within 3 months of starting at a big office, I started doing BPOs. That lead to my blogging activity on http://activerain.com/blogsview/413473/bpo-learning-curve which lead to REO listings. To the surprise of my collegues in that big office, they were all astounded that a new guy had landed assignments. One thing lead to another, and business was booming until I decided to open my own office.One thought that came across my mind was that I started my BPO and REO work within that corporate culture and will receive REO listings and be recognized as an independent office? I'm convinced it's not the big name but the agent name him/herself that makes the REO's happen.

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Comments

Billie Dalessio October 2, 2009 at 1:07pm

I also came from a large corporate office and opened my own independent office. I agree with you that it is the agent one on one- not the sign that get's the business. In my area some REO goes to large offices, but most goes to smaller offices. The large offices are not making new contacts, this is business from agents that have built their contact lists over 15 years. I am sure you'll do great.
Connie Brown September 30, 2009 at 7:15pm

Johnny,
It sounds as if you made the correct decision --best of luck to you. If you do not have good Broker support
you might as well be on your own! I chose the same route and so far I have no regrets.
Angelica Molina September 30, 2009 at 6:54pm

To tell you the truth, we love been part of the KW family, Culture is a big deal for us, and this company has it. we can tell you we have had short sale deals thanks to the fact that when homeowners were going through their mail to select a listing agent they called us, of course, we had go to the presentation and yes, we agree, we as agents make the difference, but in those cases, beeing part of KW opened the doors for us. We don't mind having the overhead, to us culture, respect, ethics is priceless.
Cindy Billman, SRES ®, SFR®, CDPE September 30, 2009 at 2:14pm

I just went to another company because it is small and owned by a great husband and wife team who are always available. It is like family and we all support each other instead of trying to stab each other in the back! My motivation is back and you are right, asset managers really do not care if you are with a large company or not, they just want you to be able to do a great job for them!
Craig Sasville September 30, 2009 at 11:04am

Johnny,

Excellent points! I own my brokerage and have Realtors which have joined my company because of the family oriented atmosphere and the support they receive, which they didn't while at the "corporate" company. It must be reinforced that each Realtor is a business within the company. Their success is directly related to how well they perform, so you are absolutely correct; It's the agent's name behind their individual success, not the company's name!

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