Why Charles Rutenberg?

The most frequent question that I have been asked over the past 9 days from both clients and colleagues alike since leaving Prudential Douglas Elliman is "Why did you go to Rutenberg and not just open your own office?"  

The answer…I’m doing both.

Here is my exact thought process and my reasoning for choosing the Rutenberg business model over a traditional brokerage model.

  • I am able to run my own stand-alone branch office on the Upper West Side as The Heddings Property Group, LLC at Charles Rutenberg Realty, LLC..
  • I have developed my own property web site that is just that…property-centric to show off the properties which I’m representing exclusively in the most transparent and best light possible while simultaneously focusing on search engine optimization. We’re in beta phase and adding more features daily but it is coming along quite nicely.
  • We will soon be offering a password protected listings database for buyers to stay on top of new inventory the moment it hits the market (likely in the Fall).  We will not hold information hostage…what is ours is yours!
  • Many back end office tasks and expenses are absorbed by Rutenberg.
  • COMPLETE FREEDOM to blog and speak to the press.
  • Complete syndication of listings so that our exclusive properties are displayed on as many property web sites as possible.
  • I believe in the Rutenberg business model and will also be assisting the partners with developing that model further and expanding the company reach in the Manhattan market place (already the 8th largest brokerage in just 2 short years) and hopefully beyond.  
  • Thanks to this 100% commission model, I can better manage my expenses, spend more on marketing and advertising when necessary and still watch earnings increase.

The Heddings Property Group, LLC at Charles Rutenberg Realty is intended to serve as an example of how top producers as well as "middle segment" earners can take their businesses to the next level without reinventing the wheel.  

If you’re in the industry or have questions regarding The Heddings Property Group or Charles Rutenberg Realty, please don’t hesitate to send me a confidential email.  I would welcome the opportunity to discuss these models further with you.

 

This entry was posted in A Broker's Job. Bookmark the permalink.

3 Responses to Why Charles Rutenberg?

  1. So, other than you keeping all of the commission, what is the benefit to the seller, let alone the buyer?
    1) Do you charge lower fees? And if so, will that only discourage “traditional” brokers from doing business with you?
    2) Do you rebate your fee to the buyer?
    3) Do you spend more on marketing? And if so, how?
    Other than you making more money, I really do not see any benefit to the buyer or seller.

  2. Great questions. First of all keep in mind that keeping “all the commissions” would be great if one had no additional expenses but running a stand alone office costs money. That said, with bigger brokerages cutting ad budgets and perks for their agents, I absolutely have more money to spend on advertising and marketing and/or pass along savings to a seller/buyer in order to facilitate a deal. I have much more freedom to use the commission to benefit my customer which was in part the impetus for my move. My move also has to do with the freedom to blog and speak to the media that wasn’t allowed me at my previous firm. With my current commission structure, profit sharing plan for my agents, and additional expenses, I would just about break even if I did the same number of transactions with my new model as I have in the past. The hope is that with more agents, I will do more transactions. I truly believe that my current business model will allow me to better serve my clients and also resulting in greater transaction volume.

  3. avatar Ivan Pintor says:

    Douglas you are also willing to make deals happen with other brokers because you make more money. So unlike brokers that have to give half of there commission, you wont have to tell buyers oh just work with me and you can save. You can afford to work with other agents. I know I can still advertise just like other firms. Lets face it most people look at the NY Times and Residentialnyc.com to see for sale properties. As for rentals ok lets throw in craigslist. You know the best priced rentals are in craigs. So were are the bigger firms advertising that we cant or get the most attention? But in the end its the broker/agent that takes care of the seller and buyer.

Leave a Reply

Your email address will not be published. Required fields are marked *