10/27/20

Real Estate Insights

Why Work With a Boutique Real Estate Firm?

What exactly is a boutique brokerage? The term is thrown around pretty often. Is a “boutique firm” just another way of saying “small company”? Is it a regular real estate company with a chic, stylish office space? You know… kind of like a retail boutique? How will it benefit me? 

There is often confusion around the term “boutique brokerage”. As a boutique firm ourselves, we’re pros on this topic. So we’re going to break it down for you.

No Red Tape 

You won’t have to jump through any hoops. There is none of the “I’m not sure…let me talk to my supervisor” type of thing. In fact, you’ll have an immediate connection to the owner of the company. Let me paint a scene for you:

You’ve chosen an agent to help you sell your home. An enthusiastic couple makes an offer on your home the first week it’s on the market. Contracts are drawn up. But then… the buyer changes their mind. There’s a home down the street that they like more. They are demanding their earnest money back.

The person you have at your disposal to call for help… is Warren Buffet.

Well, not quite.

But you will have the actual owner of the firm fighting for what you deserve. You’ll have the most qualified person at your disposal. All of their confidence, strength, and experience will be used to serve you.

Strong Local Knowledge and Community Connections 

Boutique firms are connected with their communities. This puts them in the best position to guide you through the market. Often, they’ve been part of local business for generations. In our case, The Hub originated as a clothier in the capitol square of Downtown Madison, where our family forged strong connections with the city for almost 100 years.  Real Estate has been a beautiful way for us to continue building our family legacy. We loved our neighbors and chose to find different ways to serve and connect with our community. You can often spot our team out on the town participating in community events and supporting local businesses.

That’s just our story.

But as a whole, boutique firms are extremely community-centric. They are always looking to serve their city. They support local businesses and charities. They eat local and shop local whenever possible. Often you can find them donating their time by participating in local board groups.

Boutique firms know their communities in and out. They’ll get you up to speed on local market trends. They stay on top of new developments in the neighborhood of your choice. They are best suited for predicting future market trends in your area. They’re always looking for new ways to serve their community. And choose to stay involved in local business ventures and charities.

Specialized Technology & Tailored Marking Plans

For decades only large national firms had the resources to provide top technology. Only the big players were capable of marketing your home for maximum exposure. That’s no longer the case. The rise of the digital age has made these services accessible for boutique firms. There is no difference in the virtual presence your home will have. As a buyer, you’ll have access to the fastest, most updated resources, and home specs available. The playing field has been leveled.

Marketing plans at boutique firms are creative and specialized. They don’t take a “one size fits all” approach. Their marketing plans are as unique as the homes they sell. It doesn’t make sense to promote a 20-acre ranch the same way as a downtown loft. Marketing plans are customized for the needs of specific homes and neighborhoods. If one strategy doesn’t seem to be working… they have the flexibility to recalibrate.

Strong Company Culture 

Boutique firms take pride in their team. They don’t hire anyone with a real estate license. Boutique firms believe it’s important to maintain the same values throughout the staff. Quality of service will be uniform throughout the entire team. They make sure every new hire is the right fit.

This results in a 5-star client experience. It’s usually also pretty fun! A team with the same core values results in an energized work environment. This approach brings flavor to your real estate experience!

Niche Experts

Boutique firms don’t work within rigid parameters. They are well-versed in how to sell higher-dollar properties. But they’re happy to work with first time home buyers too. However, boutique firms do usually specialize in an industry niche. This is advantageous for company growth, as it makes them the go-to experts in their market. The specialization varies from firm to firm so make sure to ask your boutique agency what their forte is. At The Hub Realty, our specialty lies within urban dwellings located in Madison’s downtown/greater Isthmus neighborhoods. We are dialed-into this market and know the area inside and out.  

Agent Loyalty 

Choosing a real estate agent is kind of like dating. You’ll likely meet many perfectly nice people before finding someone you have a genuine connection with. It’s common in large, national firms to “hook” clients, only to pass them off to other agents on their team. The agent you hire may not be the agent you end up working with. 

Agent-client experience can be very personal. You are on a journey together. You share elation when you fall in love with a home. You share disappointment during bidding-wars. You share laughter when the expectations of photos don’t meet reality (a wall-sized portrait of a clown? I guess everyone has a different style…) 

It’s jarring to be passed on to someone new mid-journey. Boutique firms won’t do this. The agent you hire will stay loyally by your side throughout the process. From testing the waters to closing the deal.

Bigger Isn’t Always Better

Ultimately, boutique firms focus on serving their clients rather than building an empire. Because they can’t rely on national brand recognition, they must (and do) work hard to prove themselves.

Are you the type of person who would rather shop locally than at the mall? Do you opt for farmer’s market produce whenever possible? Do your local watering holes and coffee shops know you by name? Would your ideal agent-client relationship be to grab a happy hour together every now and then? If so, you’re the type of person boutique firms are designed for. Have more questions about what makes boutique firms different? Want to know what makes The Hub different?  We’d love to chat with you.