Large or Small: Does the size of the Real Estate firm matter?

The landscape real estate companies has changed drastically in the last 30 years due largely to both social and technological changes. In the past large real estate companies, usually franchised, have grown to dominate the market in most urban areas. Larger companies simply had larger budgets which equalled more resources; such as marketing, better training, relocation services, trained staff, more back office support and efficient office equipment.

However now with the internet smaller companies can compete and can even outperform the larger companies. Here are a examples why size doesn’t matter any longer and why a smaller firm like located in Southport NC can compete along with the large franchise firms.

  • Big Business – Big business has lost much of its luster. Consumers prefer personal attention more than ever before. Let’s face it, most large real estate companies became big because they were efficient in their systems.  They now face the challenge of competing with smaller firms like that are driven to remain hands-on, mobile,  and highly personable. Additionally, small agencies aren’t tied down by bricks and mortar.  They are a small team and can work anywhere.
  • Equipment and Staff –The current real estate pros, have become fully self-sustaining. The large big buildings aren’t needed any longer.  Current day agents only need a convenient and occasional workspace and a comfortable conference room to meet clients.Technology is making their job much less cumbersome, and they are embracing the freedom that allows them. Smaller staff and smaller buildings.
  • Marketing – Until recently , the real estate industry relied on print advertising to display their listings. Full page ads in the newspapers or hometown magazines left a clear message with the public; we are big and successful. Which drove much of the consumers to those larger firms. There was actually a time when brokers could only advertise their own listings on the Internet and other sources, then came broker reciprocity.  This has allowed every listing syndication, all MLS listings are displayed on every participating broker or third party website.  So if you are a firm with 5 agents or 55 agents the internet has leveled the playing field.
  • Location – Many, if not most big brokers have moved into the suburbs with branch offices. The driving force behind this was to deliver their business to the consumer’s door.  This brought convenience and branding at a local level. But they did not forsee the highly sophisticated information systems that was to come. Agents, buyers and sellers can now gather all the info they need within just a few minutes of “google time.” So with all this info at our fingertips the agents have more time as well as the consumers. Those long drawn out meetings researching properties in all these real estate buildings are no longer needed.  So large companies are struggling to fill all those empty cubicles.

In conclusion; Size does not matter.  What does matters is the people within the firm.  You should look for a relationship-based agent, with strong values, expertise, and follow through. Most importantly a person you can trust.  They are representing you and helping you make your dreams come true.