From a business standpoint, it’s usually not a smart thing to brag about leaving money on the table. But, in the case of Wynd Realty, it’s exactly the thing to do. The company was born as an alternative to tradition. An alternative to excess fees, silly rules, and non-stop pander.
Wynd Realty hit some first-time milestones over 2021 that gave us pause and time to reflect. What if we had run a franchise real estate business? How would things be different? For the first time in a single year, we processed over 300 transactions. Also, for the first time in a single year, Wynd Realty exceeded $100M in home sales.
In the franchise world, $100M in sales means the traditional Brokerage would have raked in up to $900K dollars in commission splits from their Agents. (30% of a 3% commission)
We don’t believe in “commission splits”. That’s real estate from a different era. But this isn’t the only place we walk away.
On average, a national franchise charges its Agents $60 dollars more a month than Wynd Realty, $12.95. With our roster of over 300, that represents a lot of money. Couldn’t we ask for a little bit more a month? Probably. Would it significantly alter Wynd Realty? No, it would not.
Did you know franchise brokerages take 20%-25% of an agent’s referral commission? Wynd Realty would never take a cut or percentage of an Agent’s referral or rental business. We don’t believe that’s fair. Referrals are easy money. Too easy; and that’s the point. What did the Broker do to earn anything?
In 2021, if Wynd Realty had been a franchise, or even more franchise-like, we could have realized $1M dollars more in revenue than we did. And what would we have to do for that extra million dollars; not much. Re-heat a bunch of Internet training material, hire a couple “rah-rah” types to bug the crap out of everyone, and maybe bring on board an Administrator or two to add unnecessary steps to our processes.
One can look at what we did last year as, “walking away from $1M dollars”, but that wouldn’t be looking at it right. We prefer to think of it as, “saving our Agent Community FROM $1M dollars in unnecessary fees”. Sure, we could have made more money, but at who’s expense? Shouldn’t our role be to “protect” our Agent Community? Are we really in business to nickel and dime our agents?
There are a lot of costs and expenses within the real estate industry that are total BS! And we can prove it! In Atlanta Georgia, Wynd Realty is the only real estate Brokerage that can brag it saved its Agent Community over $1M dollars. Yet, the company still managed to do $100M in home sales. Doesn’t appear our “discount” Brokerage approach hurt our Agents much.
Did our Agents suffer or lack anything because they didn’t pay us more money? Did any Agent win or lose business because of our “discount” Broker brand? We don’t advertise or speak to the general public, so our Agents stand on their own. Baggage-free so to speak.
It sounds like BS but isn’t. Our philosophy, like the famous movie line, has always been. “build it, and they will come”. Build a sound, simple business model that is extremely relatable and agents will want to join. And once they join, don’t lie, BS or think you’re something special. Run a clean shop and follow the rules; it’s a pretty simple business model.
What’s in store for 2022?
Who knows? But how about a challenge? Join us in helping the Atlanta real estate Community save more than $2M dollars in 2022! I know we can do it. The market is still hot. The franchises are still fading. Join the movement this year and save yourself a bunch of money and aggravation.
Bring it ON – HAPPY 2022!