February 8, 2023

One broker owner’s remarkable story of business growth

Freddy Rodriguez opened the doors to RE/MAX Top Realty in Houston six years ago. In the span of a few years, his tight team of three real estate agents matured to a thriving group of over 50. When listening to Rodriguez describe his business, the impetus behind his success becomes clear: his fervent obsession with the client experience. Rodriguez seems nearly incapable of discussing real estate without mentioning his passion for customer education or the need for process convenience.

In pursuit of his commitment to enhancing the homebuying experience, Rodriguez has added a mortgage ancillary business, a Motto® Mortgage franchise to his RE/MAX operations. An ancillary service—or a service that complements a company’s primary offerings—can support additional business revenue and streamline the consumer experience. The goal, as Rodriguez describes it, is to “simplify the process and allow homebuyers to get a better deal. We’re on a mission to educate the consumer.”

Rodriguez recognized the value of incorporating ancillary services to his real estate offerings early in RE/MAX Top Realty’s tenure. During the office’s first year of business, Rodriguez partnered with a local mortgage company to reduce facility rental costs. In return, the mortgage company enjoyed increased clientele, thanks to their proximity to RE/MAX Top Realty’s growing business.

“I was focused on recruiting and training my team and noticed that the mortgage company was growing too. Their growth seemed to be a result of the work my stellar real estate agents were doing. This got me thinking about the advantages of having a one-stop shop. If I’m the one recruiting, training, and fostering a successful team, I should have a piece of the pie.”

When Motto Franchising, LLC began offering a mortgage brokerage franchise, Rodriguez jumped at the opportunity—and the move didn’t disappoint. “Adding mortgage brokerage services to my business has allowed me to leverage my real estate brokerage and to capture some of that mortgage business that my team was referring out before.” The entrepreneur is now in the process of adding a second ancillary service to his business portfolio with a We Insure franchise.

The up-front investment dilemma

For many business owners, the up-front cost of incorporating an ancillary service may present the biggest obstacle. Rodriguez views the investment differently.

“There is a cost to buying a franchise, but don’t focus on what it costs. Ask yourself, ‘what is it worth? If I invest this much in my business, how much will I earn? Will it allow me to better compete with other businesses? Is it in the best interest of the consumers and real estate agents?’”

The one-stop-shop

Rodriguez’s vision for a better client experience revolves around the one-stop-shopping business configuration. When broker owners pair their real estate operations with complementary services, the customer benefits from ease of access and greater process transparency.

“Mortgage loan originators, like the ones at my Motto Mortgage office, can work with the real estate client to help them select the most suitable home loan for them. Since the real estate agent provides the large majority of guidance throughout the home buying process, I think it’s only fair to offer loan originators that help their clients compare the long-term implications of different loan options. We want the customer to be in control. At our one-stop shop, everybody wins.”

Secrets of success

Rodriguez’s success with both his real estate and mortgage endeavors is the product of thoughtful leadership and savvy business talent. “I’m glad I have a mortgage ancillary service. Right now, the market in my area is hot. Everyone has business, but it may not be like that forever. You have to constantly innovate to be competitive. Offering ancillary services diversifies and leverages my business.”

Interested in adding a mortgage business to your real estate brokerage? Motto Mortgage is the ancillary service franchise in-a-box that helps make business expansion easier.

Source Article