Challenges of Running a 70-Year-Old Business

Running a business with an almost 70-year legacy is both an incredible privilege and a unique challenge. Over the decades, businesses evolve to meet new demands, embrace expanding technologies, and rise to ever-changing client expectations. Real estate is no exception, and neither is our company, with nearly seven decades of history in Abilene.

However, one of the challenges of such a long-standing reputation is that outdated information can stick around, sometimes creating misconceptions that don’t reflect how we operate today. Let’s tackle two of the most common myths I hear about our business and set the record straight.

1. Do We Charge 7% Commission on All Listings?

No, we don’t. This is a misconception that dates back 30 years or more when the real estate market looked very different. Back then, the average home price was around $100,000, compared to the $250,000+ it is today.

Our commission structure is not one-size-fits-all. We have a range of commissions depending on the property, and the idea that we’re charging 7% on homes priced between $200,000 and $300,000 today simply isn’t true. Similarly, our rates for an $800,000 property are not the same as for a $200,000 home.

It’s also important to note that while there are always cheaper options in real estate, we pride ourselves on offering exceptional value. In fact, in the high-end real estate market, our services are often competitively priced—even lower than some alternatives. We bring decades of expertise, unmatched service, and proven results, which is worth far more than just focusing on the lowest cost.

2. Do Our Agents Only Get 50% Splits?

Absolutely not! This is another piece of misinformation that continues to resurface, and it couldn’t be further from the truth. In fact, this has never been accurate in our 70-year history.

Here’s where the confusion likely comes from: In the past, there were instances at the closing table where an agent received 50% of their commission on that day. However, even back then, our bonus system paid out additional earnings over time, meaning agents always earned more than 50%.

Fast forward to today, and our agents make significantly more than 50%. We’ve continually adapted to ensure we’re not only competitive in the real estate space but also that we’re an incredible place for our agents to build successful, fulfilling careers.

A Commitment to Evolving with the Times

Running a business with such deep roots requires constant adaptation, and we’ve embraced this challenge with open arms. We’re proud to call Abilene home and even more proud of the tens of thousands of clients who have trusted us over the years.

Misinformation can spread quickly, especially when it comes to long-standing businesses, but I hope this blog has brought some clarity. We remain dedicated to being a trusted partner for our clients and a supportive home for our agents. Here’s to continuing to grow, adapt, and serve this incredible community for years to come. Contact Us if we can help you buy or sell!