When talking about brokerage models, the conversation often defaults to “small versus large.” That framework misses the point. The key difference is ownership in every sense of the word.
Independent brokerages are owned by management, and those leaders own all decisions, including strategy, investments, performance, and results. It determines how leaders build support systems and invest in agents. It determines how quickly you react when the market changes and what your culture looks like when it’s operational rather than decorative.
According to the National Association of Realtors’ 2025 member profile, approximately 55% of real estate agents are affiliated with independent, non-franchised firms, a split that has remained stable since 2012. What separates the models is who owns the company, who has decision-making authority, and whether they are the same person.
What is the actual ownership?
At our Northern Nevada brokerage firm, which has operated independently for more than 50 years, here’s how ownership shapes the way we operate in three specific ways.
1. Invest in a deeper bench
According to the 2025 Residential Franchise Report, franchising rates remained steady at 38%, indicating agents are evaluating different models for a variety of reasons. In our experience, agents at independent brokerage firms want a collaborative partnership with leadership where decisions are made through dialogue.
So we invested in office management and deal coordination, allowing agents to focus on their specialty. We’ve built an in-house training program of 27 classes for new agents, covering everything from buyer representation agreements to marketing and technology resources.
We also established an in-house marketing team to give agents access to specialized creative and strategic resources when needed. When agents receive such support, they provide a better customer experience and enjoy longer-than-average retention rates.
We also position ourselves to make the most of our talents. Our great agents also liked teaching, so we created two roles for them. As the market changed and agents needed the support of specialized technology and tools, we worked with local agents to create new training positions.
Another dedicated agent development position complements the bench, providing direct mentoring and growth resources for agents at all career stages. This flexibility attracts and retains people who can demonstrate multiple strengths.
2. We welcome the weight of autonomy.
We fund our growth through savings and borrowing. This means that every choice you make has a direct financial impact. Any investment becomes more prudent when the owner bears all the financial weight. This discipline refines how leaders allocate resources and employ tools. They become more invested in every outcome and more resilient when markets change.
We also champion programs like our Catalyst Fund, which helps agents and staff invest in real estate in growth markets and build wealth and retirement security that directly benefits the people who build our business.
When industry practices change or new compliance requirements arise, we respond immediately. Tasks that would take weeks in large organizations can now be completed in days or even hours. This is because the people making the choices are the same people who are feeling the effects.
But being autonomous doesn’t mean we work in isolation. We learn from national brokerages and franchisors through groups like Realty Alliance and LeadingRE. We see what works, discover new processes and vendors, and adapt what fits our model. This selective hiring will allow us to build a competitive technology stack and access a global network, with a regional focus.
3. We create culture by working together
If the leader works in the same market as the agent, the conversation will take place in the hallway, at the local coffee shop, or in the checkout line at the grocery store. Problems are solved in real time and brought to light through shared context and daily closeness.
When markets change, agents look for leaders who have been through those situations before. We live and work in the same markets our agents serve every day, and we have years of local experience built here because we choose to stay and build here. We understand Northern Nevada’s real estate landscape, from seasonal market fluctuations to the challenges of mountain real estate and valley housing. Our agents trust our guidance because it’s based on direct experience in the current market.
Relationships built locally create real benefits. According to JLL’s 2025 Experience Matters study, 72 percent of consumers expect companies to make meaningful contributions to local communities, and 74 percent prefer brands that personalize their approach. These expectations determine how agents choose brokerages and how brokerages position themselves.
We personally introduce agents to lenders, inspectors, title companies, and community leaders. Access to just about anyone in town, a door that would normally take years to open, becomes part of the agency’s competitive advantage.
Buyers and sellers care most about what’s happening in a particular area. From school districts to market patterns, deep knowledge of our communities comes from paying focused attention to where we live and work. Having deep roots in the community is what makes this business successful. That’s why clients come back and why agents stay.
What independent brokerages get right that big brands tend to overlook
While there is no single appropriate mediation model, there is a model that best aligns with how leaders want to serve their agents, clients, and communities.
Large national brokerages and franchises offer proven systems, brand recognition, and structured support that serve many agents well. Independent brokerages offer something different. It’s the freedom for agents to build their own brand with a leader who owns every outcome.
Competition from large corporations and franchises makes independent brokerages better. This requires us, and most other independent companies, to strengthen our execution, strengthen our value proposition and stay true to our character. As the saying goes, there’s a butt in every saddle. There is room for all models in this industry. We just choose to be independent.
That choice reflects what we’ve learned over the decades. When you own a leader-built brokerage, your strategy becomes sharper, your culture stays ingrained, and your agents know exactly who is making the decisions that impact their business and their communities.
Bo Keenan is president and owner of Dixon Realty, an independent brokerage firm in northern Nevada and California. Connect with Beau on LinkedIn.
Nancy Fennell is the CEO and owner of Dixon Realty, an independent brokerage firm serving Northern Nevada and California. Connect with Nancy on LinkedIn.
