As a real estate firm that offers customers a full service for less experience, Flex Realty has found a sweet spot in the market that has made us very successful.
We’ve paved this path by differentiating ourselves against the pricier, traditional household names and the flat fee, discount players of the world. But disrupting the status quo in an industry like real estate has naturally triggered some skepticism.
Other real estate agents have asked us: “How can the full service for less model actually be profitable?”
We’ve also heard: “Is this really a sustainable way to run a real estate business?”
And we’ve been told: “I’ll have to work so much harder to make it all work.”
After several years of staying true to what we believe in, we welcome the questions. Time and again, the success of our team - built firmly and confidently around the full service for less approach - easily dispels many of the misconceptions and any initial skepticism thrown our way.
Here are four of the most common misconceptions we’ve heard around our approach:
We are also often asked: with lower commissions per transaction using the full service for less approach, won’t significantly more transactions need to be made in order to make up that lost revenue?
While it is true that yes, the full service for less model works best when you’re generating more business, the approach ends up doing most of the extra work for you. It presents such a unique and refreshing differentiator when compared to the existing alternatives in the market that you won’t need to work as hard to bring that extra business in the door.
We all know listings are, and will always be, king. The full service for less model is the kind of differentiator that not only grabs attention, it also gets your phone to ring, growing your listing inventory significantly.
By becoming a Flex Realty licensee, you’ll benefit even further from the existing marketing resources and campaigns Flex has already created. They can be tailored to your market, but you won’t have to start from scratch. You’ll spend less time and money making cold calls and trying to usher new business in the door and more time facilitating successful transactions and ensuring profitability.
We hear this one a lot: won’t customers see “full service for less” and automatically lump you in with the other discount firms currently offering a subpar discount experience?
In reality, the full service for less approach does attract attention, but it’s all positive. Customers are instantly intrigued and open to hearing about what makes us different. Right from the very inception of Flex Realty, we’ve focused our core marketing efforts around the idea of the Flex approach.
And from the very beginning, our phones were ringing at a rate that was much higher and more frequent than when our team worked for a larger and more established traditional firm.
Potential customers want to hear more, and once we walk them through our variable rate model, it’s almost as though a lightbulb goes off: versatility, flexibility, and unparalleled quality from the beginning to the end of their buying or selling journey? Nearly every time, they become a Flex client.
By becoming a Flex Realty brand licensee, we’ll give you all the resources you need to make the same thing happen. You’ll create your own success under the full service for less model, with the tools and support of a full-service team to get off the ground and running, full-steam ahead.
When initially learning about the full service for less approach, some agents have asked us: with lower commissions, will buyer’s agents be less likely, or hesitant, to show our listings?
This doesn’t happen in our experience. We still provide competitive offerings to buyer’s agents to ensure that our listings are shown. And, within the Flex Plan, we pay our own buyer’s agents their full commission when they sell our own listings.
In addition to the above, we are also experiencing a higher volume of buyers proactively reaching out to our team directly on our listings due to the perception that they will get a better deal on the home.
This is a big one: if the full service for less model works, then why isn’t everyone doing it?
We ask ourselves this question often, and what we’ve found is that the complacency, sluggish tendencies and risk-aversion that is present in the real estate market, combined with the skepticism and general misconceptions around the full service for less model, have made those in the industry less likely to take the leap.
Many agents do offer a variable rate commission structure, but it’s not a key component of their process and often doesn’t come out until after the listing appointment, so they get lost in the middle of the pack with everyone else.
Real estate agents should be prioritizing the full service for less model, putting it front and center as a way to remain competitive and stave off obsolescence from the ways technology is changing the industry as we currently know it.
Right now, you have an opportunity to get instant differentiation and near-instant success in your market by licensing the Flex Realty brand.
Flex Brand licensees are set up for profitability right from the get-go, with a comprehensive brand-in-a-box offering: Flex Realty brand assets, proven successful marketing campaigns that can be customized to fit your market, training, support and no start-up costs or hidden transaction fees.
Interested in learning more about becoming a Flex brand licensee? Schedule a consultation call with us today.