Is it Time to Diversify Your Brokerage?
By Linda M. Erbele, Real Estate Business Magazine, June/July 2007
More and more brokerage firms consist of different businesses, creating a one-stop shop approach that helps cater to a variety of client needs.
A popular advertising campaign today shows businesses partnered in humorous ventures — a software developer in business with a wig maker or a pet wash operated out of a restaurant. "We only do one thing, so we do it right," is the advertiser's message. Sometimes, however, reasons exist to expand your company by diversifying into a related business. One day you realize: I already have a set of clients who have a need for the other business. If you can provide that service to existing clients and collect a little profit that would otherwise be going to someone else — well, why not?
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Brenda Kelly, The GROUP, Inc.