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Real Estate Fight Club

7
Sep 2020

Episode 50: What Should You Name Your Team?

September 7, 2020

In Episode 50 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley debate whether you should name your team after yourself. Hear them duke it out over businesses with your name in them, generic names, and whether the name of your business even matters! 

Episode Highlights: 

  • Jenn’s team is called Team Synergi, so she thinks the name should have to do with the culture of your team or where you’re located because if you ever want to sell, it won’t be tied to you.
  • Monica believes it should have your name in it because of the branding in a business where relationships are everything.
  • If buyers often don’t even know what brokerage they’re working with, then on one hand, your team name doesn’t matter, but on the other hand it may help to keep it as simple as your name.
  • You should have your end goal in mind when you create your team name, although that end goal may change.
  • Even though your end goal may change, you shouldn’t change your branding often.
  • Don’t let your ego get out of control when naming your business.
  • Tiebreaker Aaron Smith suggests thinking about whether your business is more relationship-based or more transactional.
  • He adds that most people don’t ever expand their business beyond themselves into a team, so a personal brand makes sense.
  • There are a lot of businesses where if the individual you’ve worked with moves to another company, you follow the individual you have a relationship with, not the brand.
  • It also depends on your role in the team—are you the actual agent going on listing appointments, or is your role more behind the scenes?
  • Another tiebreaker, Aaron Sims, doesn’t think the name matters.

3 Key Points:

  • Having your name in your brand may be important because real estate is so relationship-based.
  • Consider your end goal in naming your business, for example, might you want to sell it eventually?
  • You can always rebrand, just be careful not to do it often.

Resources Mentioned: