Agent Starts RE/MAX Plus with Focus on Technology and ‘Out-of-the-box’ Business Model
By Dianna Kawell
View Comments
Terri Granger, CRS, has been in real estate since 1984, largely influenced by her mother, a REALTOR® in the times “when it wasn’t quite so easy for women to break into the business,” Granger said.
“They had all these local rules,” Granger said. “If you had children, brokers wouldn’t hire you. Brokers were only allowed to have five part-time agents, and women could only be part-time.” It’s this family history, Granger says, that has also influenced her regular involvement with and strong support of Women’s Council of REALTORS®.
“When I first got into real estate, a good rate was 12.5,” she said. Now, real estate professionals such as her face an up-hill battle again, but this hasn’t stopped this progressive REALTOR® from starting a state-of-the-art real estate office with some “out-of-the-box” strategies.
Two years ago, Granger was one of eight successful agents who decided to start RE/MAX Plus in Rochester, NY, and share everything they’ve learned in the past 20 years in the business. Her strategies have earned her the coveted “Businesswoman of the Year Award” from her local Women’s Council’s chapter, and her firm has grown from 20 agents to 67 in less than two years in business. Check out our Q&A with Granger on her strategies for success with a challenging market backdrop.
eConnect: How can you work most effectively with home sellers when it’s a buyer’s market?
Granger: I only work with sellers, so it has been very trying. People are only putting their homes on the market now if it’s a necessity. It takes more communication, calling on a more regular basis, explaining feedback and helping them understand and make adjustments to the market. It’s not that their home is defective; it’s just what the market is right now.
eConnect: What challenges are you facing today with the state of the residential real estate market, and what strategies are you implementing to deal with it?
Granger: One of the biggest challenges is appraisals. The appraisers are nervous because of the new banking regulations. It is difficult to get a house appraised. It’s very difficult to get good comparables right now. The mortgage insurance companies are making things very difficult to get financing without a substantial down payment. It’s very difficult to get financing if you are self-employed.
I do a lot of up-front work to educate sellers on what the market is right now. I’m not trying to push them in a certain direction; I’m trying to educate them to make the best decisions by providing them with an abundance of information on pricing and what’s moving and what isn’t.
eConnect: Have you noticed an increase in open house traffic or extra interest in properties because of first-time homebuyer incentives?
Granger: Yes, it’s been wonderful. Since mid-January, it’s increased about 40 percent. Rochester never had a boom, so we never had the problem of inflated prices. We’ve had a very steady pace. Rochester is one of the top markets in the country, according to Forbes Magazine.
eConnect: What is your style for motivating agents and other staff?
Granger: Right now is a difficult time to be in real estate. You have to work very hard and work long hours. I generally encourage them to keep on keeping their name out there even though the first instinct is to cut back. You can’t stop your business because business is down. You have to keep pushing.
Our office is very unique. We really strive to have a state-of-the-art office. We have great conference rooms with full tech capabilities for meetings with customers. It’s great because you also have the privacy without the agent at the computer next to you looking over your shoulder. In our business, our agents are our customers. We have an agents’ lounge and massage chairs and other out-of-the-box ideas.
Most importantly, we have eight partners who are really successful agents, and we each provide unique education here. We are here to show them all of the systems we use ourselves to keep our businesses successful.
eConnect: Do you find that social networking is really applicable for generating referrals and attracting new clients?
Granger: Oh definitely, your business is enhanced by it, but joining organizations is part of that. The difficulty lies in finding time. I was the chairperson for a local charity, and it’s a nice way to meet new people — doing good for the community and doing good for your business at the same time.
Dianna Kawell is editor of Women's Council's eConnect newsletter.