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WHY I LEFT COLDWELL BANKER TO START MY OWN REAL ESTATE BROKERAGE

hey guys today I want to talk about why

I left Coldwell Banker and started my

own brokerage let's jump on into it guys

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hey guys Christopher Larson thanks again

for checking out this video hey I want

to talk a little bit today about how I

left Coldwell Banker about three and a

half years ago and started my own

brokerage and what that's meant for me

as a broker and a practitioner of real

estate and how exceptional my business

has become by just making this one shift

away from a big brokerage to my own

smaller more niche down brokerage hey so

I was a top producing like number one

number two in the office Coldwell Banker

broker for about ten years

hey it's a great organization I have

nothing but respect for what they've

been able to do nationally the brand

they've created and the amount of agents

and global reach that they've been able

to amass over the last hundred years

fantastic brokerage one of the major

reasons I left that organization after

ten years and being such a integral part

of that office is number one control I

felt like I lacked control the brand had

control the office had the control the

principal managing broker and the owners

in Seattle had the control but I did not

have the control so by leaving I really

felt like I would take that control back

and be able to canoe advance my destiny

and what I wanted to do as a broker and

what I wanted to create so by leaving I

really felt like I took control back and

was able to to make my own decisions and

really impact my future as a real estate

professional by by launching my own

brokerage you know number two I was

financial there's there's no it's no

secret that these big brokers and these

you know global brands really dig deep

into real estate

pockets Cobell banker is controlled and

owned by rheology that owns century 21

and Sotheby's and a couple other brands

nationally and you know as a part of

that they're taking that you know that

6% reach the into your pocket every

single month plus company dollar plus

your splits plus your transaction

coordination fee plus any additional

marketing and at the end of the day over

a 10-year period I added up the entire

nut that I pushed out in splits and

company dollars and it was about a half

a million dollars so fifty thousand

dollars a year it cost me to practice

this craft and and and be a real estate

broker at Coldwell Banker it's just it's

just too too much money and and the

brand is worth something I don't

disagree with that but fifty thousand

dollars is a bit excessive

you know going out on my own and

creating my own shop there are no splits

there's no national franchise fee

there's no big reach into my pocket

every single month and every single

transaction I'm able to you know do a

transaction you know if it's a million

dollar sale and my commission is twenty

five thousand dollars or two and a half

percent 100 percent of that fee comes

back to me and into my pocket there's

nothing off the top which is really

really nice because now I get a reinvest

what I would have normally given to the

broker back into my business and back

into my clients marketing so it's really

been a blessing to have all of that come

back to me for my use and my discretion

for my clients so having no splits has

been a godsend

another huge component has been the

ability for me to niche down in my focus

instead of being a big global brand or a

big brokerage where I'm kind of looked

at as one or I'm one of 50 brokers or

one of 300 brokers in the market I'm

able to niche down and create a very

hyper local brand

or brokerage that really lets me do what

I need to do for my clients 95% of what

I was doing was right here and like us

we go Oregon and so by adopting that and

not fighting it and going hard and deep

into that that that brand like that

focus we created a sweet girl real

estate group and I've really now become

known as a hometown brand and it's easy

for me to go out and really capture

listings and buyers that are really

interested in selling and like us we go

and buying and like us we go and I

didn't feel like I could do that under a

big global umbrella such as Coldwell

Banker another huge benefit was being

able to run my office in my brand the

way I saw fit and wasn't dictated from

the top down from some big global brand

person that's back in you know New

Jersey I'm able to create what I want to

create I'm able to go out and recruit

agents that I want to work with people I

want to be around agents I respect and

that I know want to do a great job for

the clientele and and that I actually

have a good time being around I'm not

forced to work with agents that are more

interested in surfing the web in wasting

time

then then taking care of their clients

and doing deals so by going out on my

own that's another huge opportunity and

another huge benefit is I get a recruit

agents I want to spend time with another

advantage of being a small broker is you

get to do creative marketing you get to

do things that are a little bit outside

the norm that maybe a big broker

wouldn't necessarily approve for you to

do all of a sudden you're your own boss

you're your own managing broker so you

can make decisions a little bit

differently maybe a little bit more

strategic than how you would have been

able to working for a big brand for

example we went out and did this car and

you know got crazy and bought an i8 BMW

supercar and branded it up and with the

brokerage and we drive around town and

we park it in front of Starbucks and use

it in open houses and it draws a lot of

attention I don't

this would have been approved had I

brought it to my principal managing

broker at the brokerage you know a few

years ago I think it would have been

considered a little too ostentatious and

maybe a little bit too outrageous but

I'm my own boss I make my own decisions

so we're able to do creative things from

a marketing standpoint so really feel

that that makes a huge difference when

you're running your own show

you know another huge advantage is

Commission structure your fee what

you're able to do the creativity I mean

I know that you know brokers can't

dictate commissions right but when

you're working for yourself with your

own brokerage you can go in and all of a

sudden when you're competing it's other

full-service brokers that maybe aren't

as apt to discount in the right

situation you're able to say hey look

I'm not I'm not running under a big

broker that requires a big split and I

have to give away 20% of what I'm

selling to the house now the sudden

you're able to when the situation is

right you can discount appropriate I'm

not talking about big discounts but you

know if you got a shift shave a half a

point or a quarter point to get the deal

and secure the listing

now you can confidently do that because

you're not pushing off so much to the

house once a transaction closes so

you're able to be a little bit more

flexible in how you structure your

commission

okay so I've actually created a video on

how I left pull banker and started my

own brokerage step by step by step it's

a complete guide on what you would need

to do to to leave your broker and start

your own brokerage you can check that

out here hey guys thanks again so much

for your time today I greatly appreciate

it please consider subscribing to our

Channel we're really trying to grow a

community here of real estate

professionals folks that want to become

real estate agents and real estate

investment so thanks again I greatly

appreciate it