What should you consider when choosing a Brokerage? The truth is most people don’t pick a brokerage. Most people pick an agent at a brokerage. Click play, and Jonas will explain the difference between choosing a brokerage vs. choosing an agent from a brokerage.
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Choosing a Brokerage
If you are getting ready to buy or sell some real estate and are about to start looking for your next real estate agent, you will want to read on. I will explain the differences between big box brokerages or national franchises and your small mom-pop or boutique real estate brokerages such as Streetlight Realty. I’m Jonas Helbert with the Miami Valley Experience. I’m also the broker-owner of Streetlight Realty.
My Background
Before we get started, I want to mention I got my start in real estate at a locally owned, independently operated real estate brokerage. They were based out of Cincinnati. I worked in the Dayton Market, but the broker was based out of the Cincinnati market. Then I joined his Brokerage before eventually ending up at Keller Williams, one of the country’s biggest, if not the biggest, national franchises. I should say something other than franchise because the one I was at may not be the biggest. Still, Keller Williams is one of the largest real estate brokerages in the country. Then eventually, I ended up at a buddy’s Brokerage that he had just started. It was me, his partner, and him, and there were just three guys. He built that up to, I think, somewhere around 20 agents. Then he decided to merge with another brokerage of sorts. Before he did that, I started my own, Streetlight Realty. At the time of this writing, October 2022, we have shy of 20 agents at our Brokerage.
People Pick People
I’m going to let you know what I’ve noticed, having experience at all brokerages. People don’t pick brokerages. They pick people. So, when you’re interviewing someone to be your buyer’s agent, or you’re interviewing someone to be your listing agent, you’re almost always asking questions such as, what did you do in sales? Or what was this? What was that? Not, well, what did ReMax do? What did Keller Williams do? What did Streetlight do? Nobody cares about that. They care about the person who’s going to be representing them. That’s the critical distinguishment that we want to make here. The Brokerage ultimately doesn’t matter.
Common Misconceptions
Let’s go over some common misconceptions or questions during the interview process. I will explain or address them now. If I am going to a listing appointment or working with a client or potential client, sometimes, we are asked how Streetlight Realty, or insert Boutique brokerage, compares to ReMax or Keller Williams. I know who those folks are. I have not heard of you. Or maybe I’ve heard of you, but I’m still not sure you’re not as big as the other guys. Can you do what they do? With today’s technology, there’s nothing that a large brokerage can do that an independently owned and operated Brokerage can’t do. Some of them may have their specific CRM or customer relationship management tool (if you’re unfamiliar with that term). They may have a unique website that Streetlight Realty doesn’t have access to because it was custom-built for them. But still, they don’t have access to the Miami Valley Experience. The real question is, do they have more access to more properties? The answer is they do not have any more tools for marketing or analytics. Those tools can be readily purchased or available to independent brokerages or agents.
Big Box Vs. Boutique Tools
Anybody who wants access could go and pay for these tools and compete with the big guys. Look at a lot of the top-producing real estate agents. A lot will be at regional brokerages that are independently owned. Some of the top real estate agents in our market, myself included, own and run brokerages. The idea that you can’t help people get top dollar or sell real estate efficiently for clients is just inaccurate. If this were the case, you wouldn’t have top-producing agents at smaller brokerages or owners of independent brokerages. There’s nothing that Streetlight Realty has that’s so proprietary that the other brokerages are at a disadvantage and vice versa. Some of these folks try to say that they use some Ai and have Sims, but those things aren’t necessary. It’s not the make or break of whether or not you can sell real estate.
Understanding the Market
You need a Realtor who will be able to walk you through the process. A Realtor who knows the ins and outs of the market, not just locally. An agent who knows what’s going on right now. We just had a rate hike. We see rates as high as seven percent. It’s essential that your real estate agent is on top of those things and can guide you. If you’re a seller, the longer you hold in this housing market, the more value, price, or equity will be left on the table. Because you’re not told that the market has been shifting for the worse, it’s the same thing with buyers.
Suppose your agent won’t get you into properties and send notifications as quickly as possible. No Tech or tools can make an agent stay on top of those things. Everybody has access to simple automation just for being a part of the Dayton MLS. There are built-in notifications that any real estate agent could use, and the Brokerage is irrelevant. Those are just tools available for being a Realtor for the Dayton Area Board of Realtors. The same is true with Cincinnati and Springfield.
Interview Agents
You must ensure you’re taking the time to interview an agent whose personality will meet your needs. Make sure they are individually responsible. You could work with another agent within my Brokerage or me and have two different experiences.
One of the other things you must remember about real estate agents is that we’re all independent contractors. We’re 1099. A broker can’t mandate anyone to do real estate the exact way the broker might. You can’t force someone to sell or help people buy real estate in a particular fashion. It’s not like Chick-fil-A, where every employee will say my pleasure, after the end of a transaction. We can’t do that. We can recommend it and say these are best practices. The real estate agent you work with is a self-employed independent contractor. They will be able to conduct their business as best as they see fit. They only need to be compliant with State rules and regulations.
Benefits of a Boutique Brokerage
So moving on to a different point, here are some benefits of going with the boutique. For instance, if you are having problems in the middle of a transaction, calling the broker or the owner is much easier at a company like Streetlight Realty. You go to the website, and you call the number, you’re going to get my cell phone, you call one of these big box folks, you’re going to get a front desk person, they’re going to tell you the broker is going to get in touch with you. Then, the broker is going to say to you well, I’m the broker, but I am not the owner; I’m not the decision maker, I’m going to have to get back to you on that, and there’s more bureaucracy. There’s more red tape at big box brokerages. Hopefully, you never even have to go down this road, but I’d be lying if I said that doesn’t happen because it can and will eventually happen to just about any brokerage out there. I hope it doesn’t happen with Streetlight, but I see a day when it might.
So again, you’re interviewing the real estate agent, so when looking at reviews, you’re not Googling ReMax reviews. You’re not Googling Keller Williams reviews. You’re going to be looking up Jonas Helbert, Streetlight Realty. I could improve at asking clients for reviews, but they’re still out there. You can still find them, and I want to say they’re all pretty good. You’ll find out, but I have one bad review, I brought the food out too slowly and cold. That’s for the wrong business, but Google doesn’t seem to care and won’t fix that for me.
Due Diligence
I always tell everyone to do their due diligence and research. Pick the person you want to work with and interview them. If I tell you, I had an excellent experience at Wright-Patt Credit Union with their mortgage division. Well, the loan officer I deal with is a buddy of mine. He does a good job, and other folks I use at Wright-Patt Credit Union do a good job too. However, the new person who may get hired may not always be the same level of service. Remember, like Chick-fil-A. They’re two different people within the same business. I have had one bad experience at Chick-fil-A, so you know individuals don’t necessarily represent the company. They wear logos and badges, but the service can differ entirely.
It’s important to keep that in mind and remember you’re interviewing the individual. So I’m not the same as Katie Masters at our Brokerage or other agents. They’re all great Realtors, and we will have the things people like and dislike about us. Something that naturally compels them to work with one or the other; that’s how it is within the same house. We all do a good job here. The service and experience will be slightly different, so that’s all I wanted to point out.
It would be best if you didn’t write off a boutique brokerage. I’m not trying to scorn all these other folks; some people may like that big box feel. I’m not even saying you can’t get personalization at a big box, so keep that in mind. There are some great agents at large brokerages. I learned a lot from some outstanding agents when I was at a big box. But, again, there’s just no difference. It comes down to the person. I can’t Hammer that enough.
Smaller Brokerages Help the Community
As we grow at Streetlight, and the more business we conduct, that money stays within the community. So when I make a hiring decision for my Brokerage, I always try to keep it local. I use other local contractors. I try not to use any national franchise if possible. There are specific tools that can’t be helped, but if I can, I stay local, even for my own business. In my opinion, it’s the right thing to do. I like to keep things local to help our local economy. So from that standpoint, these are advantages.
If you want to buy or sell real estate within the Miami Valley, feel free to contact us. Our home base is in Dayton, but we have an office in Cincinnati and New Lebanon. Hopefully, we’ll eventually have an office in Springfield. We conduct a lot of business out there, and we help folks all the time. We cover everything in between which makes up the Miami Valley. If there’s anything we can do for you, feel free to comment or reach out to us on Facebook. Also, you can go to our website streetlightrealtors.com. We hope to work with you in the future. If there’s anything else that we can do, let us know. If you’d like to learn more about a particular topic, let us know; we’ll try to make it happen.
SLR Experts
Streetlight Realty is located in Washington Twp, OH, and serves the entire Miami Valley. Whether you are looking to buy or sell real estate, we have experts who can assist you in the process. You can call Jonas Helbert at 937-626-4181 or Katie Masters at 937-901-8177 with any Real Estate questions. We are here to help!
Social Media
Lastly, be sure to check us out on our social media pages!
- MVE! Facebook Page
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