When people talk about brokerage models, the conversation often defaults to “small versus big.” That framing misses the point. The difference that matters is ownership, in every sense of the word.
Independent brokerages are owned by the people who run them, and those leaders own every decision: the strategy, the investments, the outcomes and the consequences. It shapes how leaders build support systems and invest in their agents. It determines how fast they respond when markets shift and what culture looks like when it’s operational, not ornamental.
According to the National Association of Realtors 2025 Member Profile, about 55 percent of Realtors are affiliated with an independent, non-franchised company, a split that has held steady since 2012. What separates the models comes down to who owns the company, who owns the decisions and if they’re the same people.
What ownership looks like in practice
At our brokerage in Northern Nevada, where we’ve operated independently for more than five decades, here’s how ownership shapes how we operate in three specific ways:
1. We invest in a deeper bench
According to the 2025 Residential Franchise Report, franchise affiliation rates have remained stable at 38 percent, suggesting agents value different models for different reasons. In our experience, agents at independent brokerages want a working partnership with leadership, where decisions are made through conversations.
So, we invested in office administration and transaction coordination, freeing agents to focus on their profession. We built an in-house training program with 27 classes for new agents covering everything from buyer representation agreements to marketing and technology resources.
We also created an in-house marketing team, giving agents access to professional creative and strategy resources when needed. When agents have that support behind them, they deliver better client experiences, and we see longer-than-average retention.
We build positions to make the most of the talent we have, too. When a high-performing agent also loved to teach, we created a dual role for them. When the market shifted, and agents needed specialized technology and tools support, we created a new training position in collaboration with one of our local working agents.
Another dedicated agent development position rounds out the bench, giving agents at every career stage a direct mentor and growth resource. This flexibility attracts and retains people who bring multiple strengths to the table.
2. We welcome the weight of autonomy
We finance growth through savings or borrowing, which means every choice carries direct financial consequences. When the owners carry the full financial weight, every investment becomes more deliberate. That discipline refines how leaders allocate resources and adopt tools. They become more invested in every outcome and more resilient when markets shift.
It also drives programs like our Catalyst Fund, which helps agents and staff invest in real estate in growing markets, building wealth and retirement security that directly benefit the people who build our business.
When industry practices change or new compliance requirements emerge, we respond immediately. What takes weeks in larger organizations happens in days, sometimes hours, because the people making choices are the same people feeling the impact.
But being autonomous doesn’t mean we work in a vacuum. We learn from national brokerages and franchises through groups like Realty Alliance and LeadingRE. We see what works, discover new processes and vendors and adapt what fits our model. This selective adoption helps us to build competitive tech stacks and access global networks while maintaining our local focus.
3. We create culture by staying close
When leadership works in the same market as agents, conversations happen in hallways, at the local coffee shop and in the grocery store checkout line. Problems get solved in real time, with clarity that comes from shared context and daily proximity.
When markets shift, agents want leaders who’ve navigated those conditions before. We live and work in the same market our agents serve daily, with years of local experience built right here because we chose to stay and build. We understand Northern Nevada’s real estate landscape, from seasonal market fluctuations to the challenges of mountain properties versus valley homes. Our agents trust our guidance because it’s grounded in direct, current market experience.
Locally built relationships create real advantages. According to research from JLL’s 2025 Experience Matters survey, 72 percent of consumers expect businesses to contribute meaningfully to local communities, and 74 percent prefer brands that personalize their approach. Those expectations shape 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 and doors that would otherwise take years to open become part of our agents’ competitive edge.
Buyers and sellers care most about what’s happening in their specific neighborhood. Deep knowledge of the community — from school districts to market patterns — comes from focused attention on where we live and work. Being ingrained in the community drives success in this business. It’s why clients come back and why agents stay.
What indie brokerages get right that big brands often miss
There is no single right brokerage model, but there is the best model to align 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: the freedom for agents to build their own brand alongside leaders who own every outcome.
Competition from larger companies and franchises makes independent brokerages better. It pushes us and most other independent firms to sharpen our execution, strengthen our value proposition and stay true to what sets us apart. As the saying goes, there’s a butt for every saddle. There’s room for all models in this industry. We just choose to be independent.
That choice reflects what we’ve learned over decades: when leaders own the brokerage they build, strategy stays sharper, culture stays grounded, and agents know exactly who’s making the decisions that affect their business and their community.
Beau Keenan is president and owner of Dickson Realty, an independent brokerage in Northern Nevada and California. Connect with Beau on LinkedIn.
Nancy Fennell is CEO and owner of Dickson Realty, an independent brokerage in Northern Nevada and California. Connect with Nancy on LinkedIn.
