Indie brokerages are thriving in local areas, even with the threat of big chains looming closely in the midst.
Every industry has big players who set the tone in the market, and small-time companies that fight tooth and nail to overcome an incumbent some day. The real estate is no different. Notwithstanding the constant peril that big corporations pose on small businesses, indie brokerages seem to be running strong due to a few key reasons:
1. Control of the local market:
Since these small real estate firms are based in local areas, they tend to have a strong control over the market within said areas. Locals know who they are, and, in turn, they get to know the locals as well. This is a smart business tactic on the part of indie brokerages because their small presence produces a more hospitable vibe. It fosters the atmosphere of exclusivity and trust, and it is a dealbreaker for the majority of people.
2. A more comforting demeanor:
Big chains can sometimes be daunting to a first-time client, especially if they do not have any prior knowledge of the real estate market. Indie brokerages help relieve some of that stress. Since these businesses are so small, they appear to be less threatening to new clients. They employ a more welcoming and consumer-friendly approach, especially to clients who may be somewhat timid entering into the real estate market.
3. Less to worry about:
Large real estate corporations carry a lot of stress on their shoulders, due to the number of clients they are responsible for helping each day. More responsibility and large size require more inside coordination, which leads to more room for error. In a big chain, it may be easy to forget about a customer or to accidentally overlap appointments. In a small real estate business, it is far less likely to occur. There are fewer clients to assist, and therefore fewer chances to make a mistake that could potentially be drastic for business.
4. More time to spend on each client:
Indie brokerages simply do not have the plethora of clients big chain corporations do. This can be both a blessing and a curse for a company. While big chains may reel in more revenue from numerous clients, small companies will have more time to spend on their loyal clients. It allows for higher customer satisfaction rate as well as higher return rate. This kind of warmth in a company is also more likely to lead to referrals and strong business ratings.