MISSION VIEJO, CA—Although all brokers desire repeat business, the independent brokerage in particular relies on fostering relationships with clients who have multiple real estate needs, Dan Boris, president of DNB Commercial here, tells GlobeSt.com. While large firms can provide clients with a gamut of integrated services, smaller firms have advantages in some areas, experts tell us exclusively.

In a small, independent brokerage, you will often work with the president, vice president or someone with direct access to them, Boris says. "They're invested in each transaction, since reputation is of paramount importance. They don't have a large corporate name behind them."

Relationships are really key in a mom-and-pop brokerage setting, Paul Rogers, president of Inland Real Estate Advisors, a one-stop shop based in Oak Brook, IL, tells GlobeSt.com. "Generally, clients who use these types of firms have a close personal relationship with the agents they are working with—and there's always something to be said for supporting small, local businesses."

Boris says mom-and-pops can also be more flexible regarding fees and procedures, tailoring the process for a specific deal. "Although a small brokerage may not have offices in multiple markets, or a team of agents working on one deal, the more-personalized relationship often means a fully customized experience. And with the availability and cost-effectiveness of online and digital advertising, the vast majority of buyers and agents are using web-based multiple listing services to find properties—meaning the large advertising budgets of the one-stop-shop brokerages aren't always necessary or most efficient."

Ian Whitman, chief strategy and operations officer for Rosano Partners, a Los Angeles-based boutique firm, tells GlobeSt.com mom-and-pop brokerages can sometimes offer personalized service, depending on how the operation is set up, and Eric Feinberg, SVP and co-head of full-service firm Savills Studley in Chicago, tells us mom-and-pops' entrepreneurial nature is a plus.

Meanwhile, Solomon Poretsky, EVP of organizational development for Sperry Van Ness in Irvine, CA, tells GlobeSt.com that mom-and-pops also offer "hyper-local knowledge. Frequently, they are also geared to support the small and mid-size owners and tenants that make up the vast majority of the commercial real estate universe." This type of brokerage can also work well for new business owners looking for that extremely localized market knowledge, Fred Schuler, managing director and broker lead for JLL in Chicago, tells us.

Despite the list of pros, there are some cons to the mom-and-pop shops. Rogers says while this type of firm is right for a certain kind of client, such as a small venue in a small-town environment, it is not right for a large or complex asset. "Oftentimes, clients risk not having access to a breadth of investors to find the right type of buyer relative to that property."

David Birnbrey, co-CEO and chairman of Atlanta-based The Shopping Center Group, one of the largest, privately owned brokerage firms in the US, tells GlobeSt.com, "Occupiers should evaluate a brokerage company based on its depth of resources and relationships, perspective into historic and current retail patterns and trends and true insight into market nuances. Mom-and-pop shops typically fall short here due to limited scope and size. "

Whitman says mom-and-pop shops also typically demonstrate reduced marketing ability and often don't have all the resources necessary to fulfill many clients' needs. "These brokerages also tend to invest less heavily in technology and training."

In addition, Feinberg says mom-and-pops fall short on delivery consistency in each market, and there's a risk of having a relationship with only one or two people. "If the lead guy at the mom-and-pop firm gets hit by the proverbial bus, your project or account could be at risk."

Also, Poretsky says that these smaller shops may not be able to serve clients outside of their immediate area. As Schuler says, "While mom-and-pops can be quick and easy, you don't get a national or international reach."