Login
iscover
When the rules aren’t set in stone, freedom can either mean power or vulnerability. What motivates business builders to take on such risks?
Gathering insights from over 700 real estate professionals, the Your Future Network 2023 report sheds light on the different personas that run real estate and the support structures that empower them to be their best.
For business builders, there isn’t a one-size-fits-all to running a business, and the freedom to shape a brand around their own personal and professional standards gets top priority.
“It’s complete freedom to be creative and assist clients in an unusual way … and provide that personalised service no big brands can match,” said one of the respondents.
Seven in 10 independent agency owners cited the autonomy to shape and grow their business according to their vision and plans as a primary reason for choosing the model.
The setup empowers those who want to provide boutique services to establish rapport between them and their clients.
This also means that as principals, they get to interact directly with clients and feel the pulse of the market they aim to serve.
Alongside the flexibility accorded to independent agencies, this allows them to create personalised and more appealing offers.
One in two further points to the potential to take home greater earnings and the opportunity to grow their personal brand.
Franchising and licensing costs add to the outgoings in franchise models, while independent agency owners benefit from the absence of these factors. They also enjoy the freedom to set their own fees and commissions.
For three in 10 participants, the flexibility in adopting their preferred technology is another advantage, while two in 10 mentioned it allows them to improve local branding.
Independent agency owners readily make their own choices and align them with the needs and values of the community.
As one participant puts it: “Everything we do in our community is self-generated. People know us for us, not the franchise we were operating under. We create long-lasting relationships and referral-based relationships.”
This gives them leverage to carve an image that sets them apart from competitors and make a name for themselves.
However, all magic comes at a price, and it’s no different when running an independent agency.
Experimenting with what works entails spending time and money, making independent agency ownership a boon only to those who have what it takes.
Hence, building your own brand requires more than just vision. It involves a lot of moving parts that need a competent hand to set them in motion.
Your Future Network 2023 presents insights on what makes founders gravitate towards their choice of model and how these factors specifically support their growth as a business.
Rather than just answers, future agency owners can see these findings as questions as they explore their own ambitions and how far they’re willing to go to achieve them.
You are not authorised to post comments.
Comments will undergo moderation before they get published.