G.M. Filisko is a Chicago area freelance and former editor for REALTOR® Magazine.
A Staunch Independent Turns Franchisee
March 1, 1997
Who'd have thought that one of the founding members of the Independent Brokers Association in Seattle would join a franchise?
Probably nobody, but it happened.
After having the two most profitable quarters in the company's history, Cayce & Gain became The Prudential Northwest Realty Associates Inc. The company made the switch for several reasons, according to broker Roger Cayce. "We weren't having financial trouble at the time, but we saw that two or three years out, it would become harder and harder to compete."
According to Cayce, to expand outside its market, the company would have had to start from scratch to build its name. It was more efficient to take an already recognized name. "Buyer agency has changed Seattle into more of a regional marketplace. We'd go to Kirkland, which is on the other side of town, and people wouldn't have any idea who Cayce & Gain was."
Cayce and Gain reviewed the cost of joining a franchise. "Obviously, you need to pay fees, and they're quite expensive," says Cayce. "We needed to look at what was in it other than just name recognition, because the name alone isn't going to do much for you." The brokers, however, were still interested because of the possible referrals from the franchise and because of technology. According to Cayce, he couldn't develop all the technology his company needed without the help of an organization with deeper pockets.
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Updated: April 19, 2021