Especially if the consumer didn’t find the agent through a brand website or brand local office, but through some megasite like Trulia, Zillow, or some platform operator like SquidZipper….

This also goes to Charles’ comment in #4 — today, I think the consumer is going to contact Century 21, because that’s all they remember. And for what it’s worth, my recommendation to the Big Brokerage guys would be to guard that brand and that customer relationship very jealously. Because if it ever should come to pass that the consumer routinely finds agents through Trulia… then Century 21’s days are numbered.

#7 Brad – First, thanks! Second, with respect to your question… from the agent’s perspective, you’re absolutely right. Because the Home Depot contractor here is not the brokerage company given the way compensation is structured in our industry. But from the broker’s perspective — the guy taking on all the risk, all the overhead, all the liability insurance, and so on and so forth… I’m not entirely sure that’s a good thing.

You see this today in commercial real estate to some extent, where the “platform operators” have immense power. Walk into any reasonably small local brokerage (not one of the Big Kids like CBRE and Cushman) and ask the top producing agent to choose between continuing to work at Joe Smith Brokerage or continuing to have CoStar. You’ll be shocked at the answer.

If, and this is a big if, the broker is more than happy to become more-or-less the fulfillment arm of Zulioogle, then I suppose that’s a good business model. Focus on what you’re good at — showing houses, shepherding people through the insane real estate closing process, etc. — and let Zulioogle focus on marketing, customer acquisition, and customer relationship management.

Three things about this plan, however. One, you’d better hope and pray that you never piss off Zulioogle, or there goes your pipeline. Two, you’d better hope that Zulioogle means it when they say they’ll never charge you a 30% referral fee, or set the maximum commission you can charge for any business coming from them, or… you get the idea. And three, understand that Zulioogle doesn’t need you; it just needs your agents.

-rsh

However, just to play devil’s advocate….do you think the window installer really cares if you remember his name or brand? Maybe he has a strong local business and a great relationship with Home Depot to continue making a successful living without your repeat business (do you really need windows again anyway?) He may be better served to generate new business instead of repeat business. He also may be better skilled at doing so. Shouldn’t everyone do what they do best?

Brokers and agents would all do well to read this post and take some time to think about it.

“I am looking for the agent that sold me this house x years ago. I don’t remember her name, but she worked with CENTURY 21.”

Similar to the way you can’t remember the installers name, but you’ll remember for years that you bought the windows at Home Depot.

When agent don’t keep in contact, which about 90% don’t, having and promoting the brand locally makes the pickins’ easy.

Your observation seems supported by NAR surveys of repeat buyers, which indicate that although the user liked the initial experience with their agent, yet less than 50% used the same agent, a second time.

As you indicate, maybe they didn’t remember them, especially since many don’t keep in touch with their past clients. If they can’t remember the agent they worked with during an emotional time over 30-60 days, how would they ever remember the agents office (brand)?