For the third time in my real estate career, the medium sized, locally owned company that I worked for was gobbled up by a much larger fish. And once more, I'm considering options.
Last Wednesday, after months of speculative gossip, the agents of the company formerly known as WC & AN Miller were summoned to Columbia Country Club to meet our new owner, Wes Foster. He is the founder and CEO of Long and Foster, probably the largest privately owned real estate company on the planet. And like his real estate firm, this guy is, indeed, larger than life.
I may be the only agent in Washington who had never met Mr. Foster face-to-face. When I arrived, he was at the door of the large meeting room with Miller President and dear friend, Michael Seay. Michael greeted me with his usual big hug and kiss on the cheek, and as I reached out to shake Wes Foster's hand, I was engulfed by a bear hug and smackeroo. Whoa! Wes! This is our first date!
The Long and Foster presentation left me with a feeling that I could live with the changes. But is that my first and best choice? Do I want to be one of the tens of thousands of people who work for this firm? If I was convinced that size matters in real estate companies, the answer would be a resounding "Yes!"
But I'm not.
One of the good things about this kind of merger is that it encourages all of the agents involved to look at options that will best support their businesses. How do I provide the highest quality of service to my clients. Do I stay and become a Miller - Long & Foster agent? Do I look for another mid-sized, locally-owned firm? Do I try to start a new company with a group of my displaced colleagues?
Probably the most important thing about making such a huge decision is to do it without distracting myself from the basics of helping my clients find and sell homes.
I'll let you know what happens!
Hey Pat, I hope Evers is treating you well. We are still here - even after being gobbled up by L & F. And the upside to being here is - #1)Market Share (being on top of the #1 Independently Owned company in the U.S. is not a bad thing - especially for our where our seller clients are concerned). #2)The tools available to the agents here as well as the training for new, medium and veteran agents is also unsurpassed - Xcellerate (contract writing software program that has every requisite form for every County in MD, VA & D.C. - not to mention WV, PA, DE & NC - my home state! HSC (HomeServicesConnection and amazing service that helps our buyer & seller clients get every possible thing they need to move or improve their house)#3) Lower Health Insurance b/c of the Economy of Scale etc. #4) No matter where you go in the Mid-Alantic Region you have an office to work out of - we recently had 2 different Miller agents who SOLD 2 $800K + houses up at Deep Creek Lake and they were thrilled to find the L & F office folks so nice and accomodating; provided them with contract forms and conference room facilitei. Ever sell a house in Columbia, Md? Reston VA? Old Town? #5) The really nice this is that we are still, in our hearts - W.C. & A.N. Miller and the cache is still there. Our brand is still here and our buddy Wes Foster is intent on keeping it that way!
And just to mention of few of the stellar agents that we love working at L & F:
Julie Roberts
Roby Thompson
Kelly Williams
Tom Spier
Joe Kelly
Peggy Speaker
Denise Champion Jones
Suzane Goldstein
Steven Vardas
Jean Livingston
Zelda Heller
Marc Fleisher
Jamie Coley
Lee Reid
Stefanie Okonek
Greta Nicoletti
Tom Murphy
Doug Ford
Ira Hersh
Rima Tannous
Linda Low
Professionals all,
Love Nathan & Michael
Posted by: Nathan B. Carnes | May 15, 2007 at 02:35 PM