Home > brand

Tag: brand

CRE Brokerage Firms: Should You Stay Independent?

Posted on by SVN

Independent vs. National Commercial Real Estate Firms

“To be, or not to be, that is the question…” goes the famous opening line of an act from the Shakespeare play, Hamlet.

That very same question is what a lot of CRE Principals ask themselves every day. “To Be Independent or not to Be Independent… and Be with a National Firm.”

The decision is not an easy one, especially for an Independent who may feel as though his/her niche in the marketplace would be disruptive to current business if they were to align themselves with a national platform.

If you’re someone who wants to buy and sell for their own gain and possible syndication, well, a national platform may not be the choice for you. However, if you are an independent CRE brokerage or property management firm that wants to step up their game and compete with the national players, then looking at a national platform definitely behooves you to take a little time to gather information so you can make a knowledgeable decision.

5 Factors to Consider When It Comes to Independent vs. National Firms

Let’s first consider the information that would allow you and your firm to make that informed decision:

  1. Technology: I know, I know. It’s always changing and it’s one of the biggest expenses an independent firm incurs. If not in hardware and software, in people or outside services. A few questions to ask are: “Does this national platform have the technology I will need today and position me for future growth without a seismic shift in how I do business or in training? Is it cloud-based or on premise technology? Will the firm help train, accelerate my transition to its platform? Is what I currently have working?”
  2. Financial: As Bill Clinton once said, “It’s about the economy, stupid.” Well, in our business some would argue it’s “Show me the money!” A few things to consider: “Do I see how this move to a national firm would enhance my bottom line? Will it allow me to reduce marketing expenses or greatly enhance my marketing efforts? Is my market demanding or is it asking for more of a national presence to be competitive? How can it help me with existing and new relationships? Can it help me do more deals? Can it help me recruit and retain top talent? And last but not least, what are the commission splits and what are the fees?”
  3. Personal: What will ultimately suit my business, my people, my family and my clients? What do the next 3-5 years look like in my business?
  4. Intangibles: What are the Unknown Unknowns? I like to call them the “unk unks.” To get this perspective, it is very important to talk to the current principals of the national platform you are considering and get a mix of their experience. Do your due diligence and spend a little time with principals who have been affiliated from 1 year to 5 years with the national platform you are considering. This is imperative before making your final decision. This will allow you to see what the “real deal’ is without all the marketing hype. “Looking under the hood to make sure there is an engine there” is necessary before your final decision.
  5. Why not you, why not now? – Only you have that answer…

Brand Identity and SVN® Commercial Real Estate Advisors

Last week I was asked by a prospective SVN principal: “I am concerned my brand identity will be compromised and I will lose the local flair with a national platform. What should I do about my brand?” My response: “I don’t know about that, we can talk about it; however what I do know is what I hear from owners of independent firms who were asking the same questions before they joined forces with SVN…”

SVNHere’s how SVN can address the Independent vs. National Firm concern, from the words of various members of the SVN community:

“With a national platform, we now harness the power of one of the industry’s 6th most-recognized names with the expanded reach of an international network of over 1,300 Advisors in over 500 markets. The brand has definitely given my firm the opportunity to grow my business and client base. I now sit at the table to compete with the other nationals in my market.”

“We now have unlimited access to industry leading-edge commercial real estate tools and technology that helps maximize our clients’ returns and saves us time and money.”

“We now have expanded visibility and marketing to reach the widest possible investor audience and access to a broader array of asset classes and so much more as part of a global network. It is the SVN Advisors that make up the difference…this is a global network where each person is committed to putting their clients’ interests first.”

If you are looking to “step up your game” – now is the time to gain information to help you make a knowledgeable decision so you are ready for growth in 2016. The best of luck to you with your “to be or not to be” decision!

Read more about Karen Hurd here.

[bctt tweet=”If you’re looking to step up your game – now is the time to gain information to help you make a knowledgeable decision so you are ready for growth in 2016! #CRE”]

International Students Share Their Thoughts on SVN and CRE

Posted on by SVN

SVN & the International Entrepreneurship Center

Our industry has a problem. The average age of a commercial real estate agent is around 60 — which is an issue as Millennials like me are starting to outnumber other generations in the workforce. And with SVN growing internationally, we wanted to know how the brand and industry resonate outside of the U.S. — so we partnered with a group of Brazilian students through Boston College’s International Entrepreneurship Center to find some answers. On Wednesday, July 29th the students presented their ideas on how to make the SVN brand and CRE industry more appealing to Millennials, from an international perspective.

International Insights: 3 Ways to Reach Millennials

  1. It all starts with the website. As tech-obsessed Millennials, the first thing we do when we hear about a company is Google it. So no matter the size of your office, you’d better have a good website. To the Brazilian students, a “good” website is one that is light on text and heavy on visuals. The students also pointed out that they need to identify with the content on the site. Quotes, testimonials, and photos of young Advisors can help solve this issue.
  2. Let’s talk money. A commission-only job sounds risky, and it certainly can be. But the students were comfortable with the idea because starting a company or similar entrepreneurial endeavors are basically commission-only until you have funding.  Due to language barriers and their just learning the business, the Brazilian students were initially confused with the SVN concept of “compensated cooperation.” Once they understood the benefits of splitting commissions it seemed to fit right in with their view of open and transparent business practices in a sharing economy.
  3. Emphasize the benefits of a franchise. Franchises are big in Brazil and can translate well in international markets. To attract Millennials to work for a franchise business, it’s important to highlight the upsides like training, tools, and independence that the franchise model can offer. As the Brazilian students said in their presentation, with a franchise “you’re on your own but you’re not alone.” You’re in charge of your own destiny, but the franchise system has your back.

If you’re ready to take your CRE career to the next level with the SVN franchise system, visit our Careers page here.

[bctt tweet=”To attract Millennials to work for a franchise business, it’s important to highlight the upsides like training, tools, and independence that the franchise model can offer. “]