How and Why You Should Change Brokerages

Will Changing Brokerages Solve Your Problems?

I’ve been repeating the same saying now for well over two years, it is attributed to a businessman named Joe Plumeri the CEO of Willis Towers Watson:

“Price is an issue in the absence of Value”

It really doesn’t matter what industry you’re in or what, as a consumer, you are looking to hire in terms of services or the product you are going to purchase or consume.

Ultimately he was bang on, in context, in the absence of value that you see from your broker or brokerage, you will begin to think about cost.

Guaranteed.

You will think about what you are paying that broker for what you are getting in return.

You will start to consider if the dollar you are paying is being spent to service you and your needs as an agent or if it is padding the pockets of those that are supposed to be providing that value.

Once you come to this realization you begin to question the brand and whether there is intrinsic value.

Some questions may arise, such as:

  • Does the brand help me get business?

  • Do they support me with systems and technology?

  • What do the provide to me other than a name?

  • What does the marketing do for my brand?

  • Does the brand support me in building my personal brand?

  • Does the brand/brokerage want to own the seat at the kitchen table with the client or are they there to support me in my efforts?

All very valid.

All very good questions to be asking.

But, are they truly the right questions?

In the Absence of VALUES, Price is an Issue

What if we looked at this from a different perspective and instead of just focusing in on what the brokerage can do to support me and my business, what if we looked at whether there ever was or if there is a values match.

Perhaps some of the questions to be asking should revolve around Core Values. They should revolve around Vision. The should revolve around Goals. The should revolve around the brokerages Mission.

Are any of these in congruence with your system of values and your vision, not just for your business but the industry as a whole. Does the broker have the same goals (as it pertains to the client) as you and what is the brokerages Mission and how does it impact you.

You see, this is a people business ALL THE WAY THROUGH.

Great relationships are key to success in sales, those relationships should not only be between you and your clients but also between you and the leadership of your brokerage.

Yes, in the absence of value, price will be an issue, but what about the lack of values being displayed by the leadership of your brokerage?

Here are some questions you should think about asking yourself:

How does that impact me as a business person?

How does it impact my clients?

If you wear your core values on you sleeve, then why are you not standing up for what you believe in and move away from those that you are no longer a values match with?

Understanding who you are and the type of people you should surround yourself with, should be the first step in evaluation BEFORE you start to look at price.

Look to your VALUES first before the VALUE that you are getting or not getting from your current broker.

You are the average of the five people you spend the most time with ` Jim Rohn

Now That You’re Focused: What’s Next?

Alright, I have made some moves over the last 15 years (7X in 15 years) and I can tell you from experience, that you are overthinking everything right now.

How do I know?

I bet you are telling yourself that now you have to ‘rebrand’. Right?

I bet you are telling yourself how expensive it’s going to be. Right?

I bet you are wondering how your clients will react. Right?

I bet you are telling yourself that it’s better to just ‘stick it out’. Right?

Again, how do I know?

I’ve told myself all of those things more than once, and so here it is, it’s all BS.

You don’t have to rebrand…you are placing a new logo on cards, signage and marketing materials. You aren’t Nike.

Is there a price too moving? Sure. Is it expensive? That depends on you and how you operate your business. Look, your business cards probably needed a redesign anyway. Your signage can be done in blocks, I mean, how many open houses are you sitting anyway? Your marketing materials can be easily revamped and reprinted, just make sure you don’t move twice in 6 months like I did.

Your clients used you because of you, not the brand you associated yourself with. REMEMBER THAT.

As far as ‘sticking it out’, scroll back to the top where I talk about Values and Value.

Have a Plan and Execute

If you are going to make a move, plan it out in advance, start by talking to multiple brokers and see who you align with the most.

Next: Prepare your new marketing materials.

Next: Decide how you are going to announce it to the world, what’s the strategy?

Next: What is your communication plan with your database?

Next: Be up front with your current broker, make sure to remember they are in sales too and will try to entice you to stay by offering you the world. Remember this: If they truly wanted you to stay, they should have been offering you the world while you were there.

Next: Inform your sellers, cancel your listings and have a plan to refresh the listings at the new brokerage.

Next: GET BACK TO WORK and service your clients.

At the end of the day, you are making this move for you, not for anyone else.

If the Value is there, if the Values align, then everything else will fall into place.

Trust your gut and execute the move, you won’t be sorry you did.

Kelley Skar