By: HomeSmart Realty Group Broker Lynn Chute
When buying a house, everyone talks about the three rules of real estate: location, location, location. Well… the same holds true when deciding to open a brokerage.
I’ve been part of a growing brokerage in Denver, and the thriving market itself is dictating that success. I did a Q&A in RISMedia where I talked about why real estate in Denver is booming and how the desirability of the Denver area for living, working and playing has and will undoubtedly continue to allow Denver and the surrounding area to be very competitive in attracting buyers to the region. The affordable cost of living and the diversified market also encourage home purchases in this area. Regardless of your market, you should be considering the same indicators.
Determining if your market is ready for another brokerage.
If you’re a broker who has wondered if your market is prime for another brokerage, there are some identifiers to look for:
- Diversity of people, properties and lifestyles
- Streamlined infrastructure for transportation and mobility
- Affordable cost of living
- Upswing in economy
- Influx of jobs
- Relocation of major businesses
Denver’s real estate market is heating up as more and more people move to the region. This means there is an increasing demand for residential housing and a decreasing inventory of homes. In this case, buyers and sellers have to move quickly and make smart decisions. It is up to the agent and his/her brokerage to support the consumers.
Determining the right kind of brokerage
Once you’ve identified your market, you need to decide what brokerage model to follow. We all know there are split commission models and transaction-fee models, but there are so many other factors you need to consider when choosing the right kind of brokerage for you.
Consider efficiency and innovation in service, systems and technology that allows you to fully support your agents, so they can focus on their clients. Choose a model that provides tools to support your business like consumer-focused meeting spaces, marketing resources and ongoing education.
We offer the most competitive package to encourage and ensure agent success. From our systems, to our flat-fee model, we attract top talent in the area. We plan to expand by fostering long-term relationships with agents that are successful and dynamic.
Lynn Chute is currently the designated broker for HomeSmart Realty Group in Greenwood Village, CO. She has worked in real estate for 19 years, serving in Denver and the surrounding areas.