Location, location, location, applies to Real Estate offices as well. Yet you will find some tucked away in a no-traffic strip mall or in the 3rd floor of a high rise building. Truthfully, a year ago, I didn't think it really mattered.
I was reluctant to have an office in Channelside. Although it is one of the most visited streets in Tampa and having an office there would give us the high profile we wanted, the numbers didn't make sense. The numbers didn't make sense either for us to start our own brokerage. We would have made more money staying in our current brokerage with our team. But my husband wanted it. He said his guts told him that's the direction we should go. We debated about this for a long time and although the numbers still didn't make any sense in doing this, we opened our office and a new brokerage in April of 2008.
6 months later, we have 230 closings from 14 agents. 2 of the agents are me and my husband who are responsible for only 5 of those closings. So a majority of those are from 12 agents. We have since added 6 more agents; 3 of which are still on training. Do the numbers make sense now? Oh heck, yeah. Question is why we didn't do this sooner. We have to give credit to our hard working agents. They put in extraordinary efforts and that's why they get extraordinary results. A majority of our sales have been in new construction and builder inventories. That's why builders love us and give us their specials before they make print.
So, if and when you're ready to embark on your own brokerage, don't discount the power of location and traffic when choosing an office location. Good luck to all of you. May your closings close and your short sales short.