Non-branded Vs Branded
It’s a complex question that is frequently asked and never properly answered. Do I stick with my own brand, or do I get with the apparent strength of a well-known brand?
Many times I have had the conversation, and as time goes on my opinion has changed dramatically in favour of Non-branded. That said with a host of conditions.
Without me mentioning any names, I think branded models have been asleep at the wheel in the last 5+ years. Media, advertising and lead generation has declined to be almost non-existent. Getting on TV and declaring a love of property and a “we will fight for you“ slogan will not get you results in the most competitive marketplace in history. When the branded third party channel exploded, it was due to a well-known group offering mortgages and a significant discount to the majors.
So, the decision is “do I go with a branded model relying on spasmodic ineffective advertising and a significant reduction in commission, or do I create my own brand, own the business, own the trail and use my own cost-effective methods of generating better quality leads?”
I was once told by a wise man, “bite off more than you can chew and chew hard.”
With the current climate, the work required per application, the long-term rewards and business ownership, I think it’s going to become more and more difficult for branded businesses to attract high-quality brokers and moreover very difficult to retain those brokers.
In short, I would absolutely recommend any broker that is looking to establish a profitable/viable business to go independent. Do you really want to give up to 50 % of your upfront revenue away and never own the trail?
I didn’t think so!
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