Running A Real Estate Office Isnt Easy - Competition Learns The Hard Way!
Last night I took a call from a person who was referred to us by a former Realtor.
This person opened a "Franchise Real Estate Office" down the street from us.
These guys were going to "Reinvent Real Estate". Or at least this is what they were sold!
He called to ask if we can stop by tomorrow to discuss if we can assist them in running their Real Estate office.
Apparently, after 12 months of being in business, they can no longer achieve their goals!
They explained that in the beginning when business was "Booming" the franchise painted such a bright outlook, this person bought into the concept "Hook,Line and Sinker".
The franchisee told them all they had to do was "Open The Doors" to business. Other Realtors would follow based on a superior residual program and the phones would ring off the hook, with eager "Buyer and Seller incentives.
As many of you know who own a Real Estate office, it takes a lot of "hard work".
Absentee ownership isn`t an option, it`s a recipe for self destruction!
It`s hard to believe that a person who buys into a "Franchise Concept" would be so gullible to believe that based on a "Franchise Name" all you have to do is sit back, and wait for business to come to you.
The franchisee failed to mention after they took this person`s deposit, was they sold 5 other franchises within a 8 mile radius thereby, in my opinion saturating the name and image they were projecting.
We spoke for 45 minutes and I suggested he come to our office and sit for a few days to see what we do each and everyday!
He was in awe when we told him that we`re available to our clients from 6AM-9PM, six days a week! Nobody, ever explained to him that opening a Real Estate office consists of long, arduous hours.
The next time someone considers purchasing a franchise, may i suggest that you spend a few weeks observing how an office is run!
Just "Opening the Doors" isn't an option.
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