Tyra Rudrud on Joining a Franchise vs. Staying Independent in Real Estate
Real estate agents ask this question a lot.
Should I be on my own, as an independent agent, and embrace the freedom of running my business exactly how I want? Or should I join a franchise, and reap all of the benefits of being part of a larger organization, and all of the support that comes with it?
Ultimately, there’s no one-size-fits-all answer: you have to do what works best for you and your business goals! Every time I ask this question, I get different reasons for why they chose what they did, and it makes sense for their business and their goals.
There are a lot of factors that drive the switch:
- Does this serve the real estate agents on my team?
- Does this help us serve our leads and customers?
- Is this the right financial decision?
- Does this help us grow our business?
That doesn’t even scratch the surface!
I made the transition myself, from indie company to franchise, and when I listened to this week’s guest, I knew that she had incredible value to share with anyone considering that process.
Tyra Rudrud, from Vail, Colorado, is breaking down the transition process on this week’s episode of Selling the Dream. She’s sharing more about the thought processes behind making such a huge change, and tips and tricks on how you can make the transition seamlessly.
But before we dive in: have you created your free profile on the Second Home Agents website? Go over and get started: it’s FREE to join. Click here to register, fill out your profile and get listed today.
Highlights of this episode:
- Tom introduces Tyra Rudrud and her business in Vail, Colorado.
- Tyra describes the iterations of her business: how she started in real estate, the market that she serves, and how the office has changed over the years.
- When Tyra found that their independent company was not working anymore, the team ended up joining a franchise.
- The process of making this decision is NOT easy!
- Are you thinking about making the leap from independent to joining a franchise? If your agents are uncertain, it’s important to show the benefits of being part of a franchise, and how it will help them.
- Questions to consider: how can we stay relevant to our market? How can we best serve our agents?
- Pay attention: the world is changing, and so is how real estate works. What you have set up in the past may not be enough to keep you going in the future.
- Joining a franchise brings agents a whole new world of resources: make sure that, if you are transitioning, that you take the time to teach your team how to use these tools so that they can be even more effective. Many times, the tools that a franchise has access to are far better than an indie brokerage.
- There is so much information available to our leads: it’s important that agents be well-trained in how to get the best content to leads.
- Going through the transition to a franchise is hard because the process is often kept confidential, so not everyone is privy to all of the details.
- .When Tyra and her team joined a franchise, they did it quickly: from start to finish, it was less than 6 months.
- Tyra shares some of her secrets to success: 99% of her business comes from referrals!
- When you’re working in a luxury market, give luxury gifts! It may exceed the tax deductions you can take, but sending them something that they will have either on display or actually use is important.
- When working in the luxury or vacation market, those relationships are key! Make sure you keep in touch so that when they are in town, you can drop by and keep the relationship going (and continue your referrals!).
- You can use online resources like Zillow or Realtor.com, but focus on relationships!
- If you’re a brand new agent, Tyra has some advice. Get involved in your community! Get to know people, and what’s going on.
- Remember, you’re more than just a salesperson. You’re an advisor.
- If you’re part of a company that is making the transition from being indie to a franchise, give the owners some grace. They are making the tough decision to serve YOU and your business better.
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See you next time!