First and foremost, when an individual is choosing an appropriate real estate agent, there isn’t a wrong or right answer. There are however, a variety of differences that may impact a buyer or seller’s needs. A person’s decision on whether they want a franchise or an independent real estate agent depends on their personal situation. Both location and the level of community resources play a large role in determining the preferred course of action.
Typically, large franchises carry a bigger referral network. Their affiliated offices can reach a greater number of people, provided they’re motivated. With broader networking resources they can accumulate potential buyers/sellers and create comparative lists. Likewise, their name often holds a level of satisfaction, guaranteeing that their services are certain to deliver.
A major element that large franchises capitalize on is their unparalleled ability to advertise. They can promote a seller or buyers needs by using more extensive databases and canvassing larger areas. Some prospective clients prefer a franchises’ grasp on major media. Franchise real estate agents often have in-depth websites that are professionally designed, attracting larger public numbers. They also produce quality brochures and listings that are often better than those of an independent agent.
It’s important to never forget the value of brand recognition. The average person prefers to use an organization that’s been operating for a long period of time. The longer an organization has been in business, the more it has been forced to evolve, thus conforming to the needs of their customers. Almost every new independent real estate agent has yet to work through the inevitable challenges that many franchise agents already have.
On the reverse side, hiring an independent agent can be far more affordable. Most major franchises have expensive price structures where smaller organizations provide cheaper services. Also, there are plenty of clients who appreciate the intimacy that’s formed during the one-on-one interaction of an independent agent. Locally owned agencies are more likely to lower their commission rates depending on their client’s expectations. They can operate without the stringent standard operating procedures that most large franchises are structured by.
Within the local community, independent agents understand the circumstances of their clients being that they often reside in their county of operation. This gives them the ability to attract buyers/sellers using local resources. The adage goes, “it takes one to know one”, meaning it takes a local agent to sell for a local client.
In conclusion, the answer really does revolve around an individual’s needs. Preferences can lean one way or the other. It is important for a client to research various organizations, both franchise and independent, and study the dynamics of their surroundings. Some cases require a larger amount of commercial resources while others can achieve the same result at a cheaper rate.