Franchise Casualties

[satxproperty]

We often see real estate brokerages come and go. But, I don't recall any of the bigger franchises ever close up shop, locally. I've watched brokerages consolidate to just 1 office and re-organize, but not close completely.

One national franchise brokerage is apparently closing it's doors locally; all of it's 5-6 offices and letting the agents go. This brokerage had 300-400 agents.

Does everyone have a contingency plan for "if" your broker closes their doors?

[stevetrang]

I see myself as quite independent. I don't foresee any problems just signing up with a different shop that would let me be. Am I naive? Is this not how other agents view themselves?

[FairwayandIsle]

I see myself as quite independent. I don't foresee any problems just signing up with a different shop that would let me be. Am I naive? Is this not how other agents view themselves?

I have to agree with you. I see agents hopping shops all the time, I don't see how it would be any different if a company were to close its doors. It's not like it's the agents fault that the brokerage closed.

[SLP-NYCT]

But you have to be careful with the listings. Often times the company will sell the listings to one competitor so your listings are gone and any termination agreement you have is gone as well. The new company, since they are buying the listings, will have a lot to say if you try to steal the listing back.

Now for the Million Dollar Question...who was the company that closed up?

[satxproperty]

But you have to be careful with the listings. Often times the company will sell the listings to one competitor so your listings are gone and any termination agreement you have is gone as well. The new company, since they are buying the listings, will have a lot to say if you try to steal the listing back.

Now for the Million Dollar Question...who was the company that closed up?

I don't know if I should say or not ... there are a few of those "rocks" still around.

We had 2 of the same franchises locally and a small satellite office out of Dallas... only one of them closed. The one that closed had 300-400 agents. The other have 30-40 agents and the satellite office has a dozen agents or so.

[jessiesc]

One of our national franchised offices recently lost their franchise. They are still in business but with out the franchise.

Also, several smaller franchises recently closed their doors as well.

I foresee more of this happening in the coming months as the current market is highly competitive and some of these franchises are unable or unwilling to match the offers provided by other offices.

[SELLITNOW]

Contingency plan? What a briliant idea . . . I have no clue why . . . I have yet to conjure one of those up . . . MY GOD!!! I must get to work on that . . . I have calls to make . . . definitely have a few in mind . .

I think I asked this before . . . any one familiar with . . . ZIPREALTY?

[SLP-NYCT]

YES, I am familar with ZIP. Do you Want To give away 1/2 your commission to buyers or feel you Have To in order to get Buyers?

[SELLITNOW]

Funny . . . "want" . . . of course not . . . but that "have to" . . . now that is another thing . . . considering "qualified" buyers are -for me- not as easy to come by . . . I do ok . . . but definitely have more unqualified buyers than qualified . . .

[MikeNY]

A major "rock" franchise just closed shop here as well and is under another name. I have also seen other companies with lots of offices close down a few or how they say it "merge". I also saw a very well known brokerage merge with another. A lot of things are happening and what I knew would happen is happening. These agencies that get by because "everyone knows their name" because there are so many of them (locally) are suffering because of the other oagencies who's agents are actually good and not mediocre agents working for a agency that has (had) a good/popular name.