192: Do You Get What You Pay For? Talking to an Ex-Discount Brokerage Agent

Hustle Humbly Podcast

Alissa Jenkins & Katy Caldwell

Entrepreneurship, Realestatepodcast, Realestate, Realtoreducation, Realtor, Business

4.9 • 809 Ratings

🗓️ 10 April 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Non-traditional broker, flat-fee broker, limited-service broker or simply discount broker, there are quite a few names for a brokerage that doesn’t run in the “standard” model. In this episode we interviewed one of our listeners who kindly volunteered to talk about her time at a discount brokerage. Michele started at a discount brokerage her first year in real estate and closed 113 transactions that year. Her office operated with about 350 listings going at any given time and a very small staff. She shares with us how the office got leads and how they served their clients. We learn about the general office philosophies plus lots of specifics on their processes. Talking with Michele was truly eye opening. As an agent on the other side of a transaction with a limited-service broker you can guess what is going on behind the scenes, but to hear a personal account of how this office ran was fascinating. This may be the first time we have truly been at a loss for words during the show. If you’ve ever wondered how a non-traditional broker operates, it’s time to pull back the curtain and see.

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Transcript

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0:00.0	There was nothing in our job description that said actively work to get these people under contract.
0:07.0	Can you write offers on all of these today and let's see if one of them sticks?
0:11.0	Constant repair negotiations because you get one person through on the next.
0:16.0	Well, go ask Google. Is that what they do?
0:19.0	Yeah, probably.
0:20.0	3% every four weeks drop the price until you sell. That's it.
0:24.6	Sometimes they just need to hear a man's voice.
0:27.6	We had a local area code for each market, so that's why people would be confused.
0:34.6	Hi y'all, welcome to Hustle Humbly.
0:38.1	It's Alyssa and Katie, and we are two top-producing realtors in the Baton Rouge market.
0:42.1	We work for two different companies where we should be competitors, but we have chosen
0:45.5	community over competition.
0:47.1	The goal of our podcast is to encourage you to find your own way in business.
0:50.8	So stop comparing yourself and start embracing your strengths.
0:54.6	Okay, hi, Alexa. Hey, Katie. It's episode 192. And we're here today with a guest, a friend who's going to
1:02.4	talk to us all about, there's so many names for this. Yeah, I was waiting to hear what you were going to say.
1:09.0	She's going to talk about what we call a discount broker or maybe a non-traditional broker or a flat fee broker, limited service broker. There really are a lot of names for this. So we're going to let Michelle introduce herself and tell us where she is and what she does and why she's a good person to talk to us about this subject.
1:30.6	Yeah, so my name is Michelle. I'm a realtor in the Dallas-Fort Worth area, Texas.
1:35.2	I'm originally from C. Diego. I met my husband in 2018. He's the one who kind of talked me into
1:42.0	getting licensed and trying real estate, even though that wasn't on my radar.
1:46.8	So I went ahead and got my license at the end of 2019.
1:50.8	I had no background in real estate.
	...

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