October 8th, 2017
Boutique Firms Can Compete With Behemoths
There’s still plenty of business for small, locally owned real estate agencies with excellent customer service, said Carmela Laurella, president of CL Properties. Laurella isn’t concerned with acquisition talk; she’s focused on remaining small and providing “excellent service and exceptional results.”
“Our firm is eight years old and we’re having one of our best years ever,” she said. “We operate like an investment banking firm. We choose to stay small and boutique. Most of our business comes from the Internet and repeat business. We have no problem getting listings and making sales.”
Deep pockets and a global reach are not as important as growing a local base of satisfied customers, she said. Big firms like Douglas Elliman and Berkshire Hathaway, who are both in acquisition mode, don’t bring that to the table.
“I wish them both well, but I do think they’ll have a hard time catching up,” she said. “This business is about people and relationships. I used to work for Coldwell Banker and Otis & Ahearn and when I left, my clients followed me, the agent, not the brand. We’re niche players. I have people who will walk over the Charlestown bridge to find me because they want me to sell their homes.”