Both small and large brokerage firms have their advantages. Spending a little extra time finding the right broker can really pay off in the end. Therefore, compare different companies to find your broker. Most brokers either work in a larger brokerage chain or in a smaller local firm. Some also run individual companies or work in brokerage firms with special areas, for example agricultural properties. Both large and small brokerage firms can have their advantages and disadvantages and it is worth comparing offers from both types. In the end, it may still be about the qualities of the individual broker, whether he works for a large chain or a smaller brokerage house.
Advantage of a large brokerage chain
The advantage of a large brokerage chain is that they have a wide network of possible customers. Buyers looking for a new home often turn to the big companies because they often have the largest selection and the most contacts. Through the larger brokerage firms, it is possible to get in touch with their network and find more interested buyers.
The large brokerage houses also have more brokers, which can lead to a developing work environment and provide more skilled brokers who can make use of colleagues’ contacts and knowledge. It may also be possible to change brokers internally if the cooperation with a broker does not work well on a personal level.
Another advantage is that they often have very good contacts and good agreements with banks and insurance companies. It can facilitate the transfer and save some money. However, brokerage firms often make these agreements with a specific bank or insurance company, so it is not certain that it will help if you, as a customer, are connected to another bank.
Advantage of small broker
The smaller brokerage firms are often skilled and dominant in their locality. They are specialists in a certain geographical area that they know very well. They know the location’s price picture, the pros and cons of different areas and can be in contact with interested buyers. Smaller brokers are often considered to be serious and capable as they always have to assert themselves against their larger nationwide competitors. Often the smaller brokers have good contacts with the local bank and insurance company.
It may also be that the smaller companies are a little more personal and flexible in their service. It is often worth investigating what the local broker can offer. Carefully consider the pros and cons and remember that it is not just the commission that determines which broker is the best choice.
Bargain and negotiate
It takes time and work to find the right broker. Feel free to let two, or preferably three, brokers go through the property carefully. Find out how they will market the object, what they see as opportunities and what compensation they require. Each broker makes his own assessment and the strategies can vary greatly from one broker to another. Choose the broker who feels the best and who seems to have the time and commitment to do a good job.
Feel free to try our service where you get quotes from different brokers and decide for yourself which broker you think works best. Just fill in the form and you’ve started the process. It’s free and you don’t commit to anything.