EXEC THE MAGAZINE BY REALTY EXECUTIVES, FOR REALTY EXECUTIVES
The Executive as Disruptor: The Realty Executives legacy of disruption
The Executive culture: Creating the future of real estate How millennials are shaping the real estate industry
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SUMMER/FALL 2017
The best real estate agents are (still) called Executives In 1965, Dale Rector founded Realty Executives with
an innovative new concept of 100% commission for agents. Little did he know that he was not only launching a company but revolutionizing the real estate industry. Rector’s big idea was initially criticized by competitors who assumed (or hoped) the concept would be no more than a passing fad. However, the top real estate professionals in the booming Phoenix area took note. The 100% commission concept enabled the most productive agents the freedom to run their own show, connect with consumers directly, and spend more time focused on the needs of homebuyers and sellers. It worked. These bold pioneering professionals propelled Realty Executives to rank as the No. 1 Phoenix brokerage by 1972, and setting a trend that would attract their productive counterparts in markets around the globe to join Realty Executives. Today, with 500 offices and 8,000 real estate professionals globally, the brand boasts a 50-year legacy that has drawn in generations of leaders. Although the industry has faced changes over the decades, with buyers, sellers and investors experiencing sweeping shifts in where, when and how deals get done, Realty Executives’ “productivity first” rallying-cry has not wavered. Realty Executives agents close 47 percent more transaction sides than the industry average, according to RISMedia’s 29th Annual Power Broker Report (Top 500), published in 2017.
1965
Launches in Scottsdale
1972
Ranks No. 1 brokerage in Phoenix
1973
Begins franchising
1988
Opens first Canadian franchise
1994
Grows to record-breaking levels adds more than 100 new franchises
2001
Opens first offices in Mexico
2002
2003
R. Dale Rector named amongst 25 Most Influential People in Real Estate
2010
Expands into Turkey, Saudi Arabia, Qatar, United Arab Emirates & Oman
2012
Expands internationally to Australia and Israel
New international franchise territories in Lebanon and Egypt
2015
Celebrates 50th anniversary with fresh logo treatment and a host of innovative, proprietary tech tools
2017
Recognized as one of Entrepreneur’s Top Franchise Brands
The next 50 years: Our vision for the future Over the last three years we have undergone a total company transformation, and development. And this is just the beginning.
Building a better brand experience We started by focusing internally and shoring up our foundation, rebuilding the senior management team at Realty Executives International. With the right talent in place, we shifted our focus to technology and support. We developed a new tool that aggregates essential real estate business functions into one convenient platform, PrimeAgent, freeing our agents and brokers from the competing objectives of a third-party service providers. At the same time, we rebuilt our customer service model to be hyper-responsive and available across multiple channels. Our Concierge Services team is now second-to-none, solving challenges easily and 2.7 times faster than the industry average.
“Innovation isn’t about predicting the future, it’s about creating it.” David Tedesco
Realty Executives International CEO
Engaging the market With a solid foundation under us, we began the second phase of our growth hacking strategy, a multi-tiered recruiting and advertising campaign. Our print and digital campaign boosted brand awareness in the biggest industry outlets, including REALTOR® Magazine, Canada’s REM (Real Estate Magazine), and RISMedia’s Real Estate magazine. Our message was simple: If you’re not with us, you should be. We are in the 86th percentile for agent productivity, and are proud to provide our Executives world-class tools, training and customer support so
adapting our business to better support future growth
they can run their business as they see fit. Realty Executives is self-referencing, it’s about you. Not about placing the last names of people you don’t know, and may never meet, before you. Where’s the value?
Focusing on Executives At the same time, our conversion and recruiting campaign targeted high-performing agents and teams. Executives, not just agents. Early adopters who have moved beyond the status quo and are more interested in a value-focused model. We continue to look for Executives. We are investing millions of dollars in our expansion, acquiring brokerages in key markets while simultaneously developing existing franchises. We expect to grow to 25,000 to 30,000 agents over the next few years.
Pushing for innovation The truth is we want to make it easy to be a part of our brand, so we are continuously improving our offering. We are committed to investing in programs that are focused on supporting the most productive real estate agents in the industry. And with our Executives as partners, we will continue to push for innovation because true innovation is a mix of established brand with a dynamic set of solutions, high value for low cost, and the freedom to operate how you want.
In keeping with its legacy of innovation, Realty Executives developed a new tool that aggregates essential real estate business functions into one convenient platform, PrimeAgent, freeing our agents and brokers from the competing objectives of third-party service providers. This comprehensive platform includes: • Proprietary digital marketing resources, including an intranet called PrimeAgent • Personalized, local websites • Lead management • Contact management • Automated email campaigns and broadcast emails • On-demand (mobile) marketing via SMS • Listing automation materials and videos
Millennials, a dynamic force in real estate Millennials are disrupting the real estate industry from the inside out. Completely
real estate, they are bringing technology forward to make the industry more efficient an
Transforming the transaction “Everything that we do as far a real estate transaction is concerned starts and ends with technology. From Facetiming clients while walking through a property that they might not be able to visit, to using online advertising. We are able to maintain an entire transaction online and collaborate with other agents and our office staff,” says Chad Arend of Realty Executives Phoenix. Arend, now 34, started working in real estate at age 22, switching from a career in finance due to the hot market in 2005. He is a major proponent of tools that simplify the process for the consumer, although he does concede that technology has changed the agent-consumer relationship. However, while some argue that the tech removes the human element of what is commonly considered a relationship business, digital agents are adept at creating meaningful connections online.
Leveraging social media Winnipeg-based REALTOR® Eric Neumann, 31, has added his family pet to his social strategy. Lily the Pug is not only completely integrated into his social marketing campaigns, she’s a member of his real estate team. “Lily comes to my office, she enjoys socializing and saying hi to people, and it’s always fun to feature her in my listing ads in the local paper,” says the Realty Executives First Choice agent. Neumann lives in a family-oriented neighborhood where almost every third house is home to a dog owner. He knows his market and is in the top 10 percent of Winnipeg REALTORS®, as well as the number one agent in his office.
Advice for millennials considering a career in real estate embracing the entrepreneurial freedom inherent to d more connected.
Ashley Kimberlin, a 33-year-old agent with Realty Executives Tucson Elite, believes that integrating technology and social media into your business is key. “Social media has had a huge impact on how we do business and how we stay connected with our community,” she says. Kimberlin is part of a team with veteran agent Don Eugene. The powerhouse pair has closed over $80 million in real estate transactions and are among the top 2 percent of REALTORS® nationally. According to Kimberlin, they use social media to position themselves as hyperlocal experts, striving to be a staple in their community.
Thinking outside the box Millennial real estate agents are both driving and embracing innovation. “We’re always trying to push the boundaries and come up with smart solutions to the problems that we encounter,” says Tim Vandeville Jr, a 29-year-old agent with Realty Executives Integrity. Vandeville is new to the industry but has established himself as a major player in his market, selling close to 70 homes during his first two years in real estate. “We’re taking real estate to a whole different level than where it used to be,” he concludes. And we can’t help but agree.
“In real estate you’re working with people, it’s all about your connections with your clients. So ask a lot of questions, learn everything that you can from the veterans and then put your own twist on it and turn it into your own way of doing real estate.”
Sarah Smart
Realty Executives Integrity, Wisconsin
“Becoming a successful real estate agent comes with hard work and long hours, but it can be very lucrative and it’s amazing to be able to help somebody find a home for their family.”
Rigby Cilley
Realty Executives Phoenix, Arizona
“You’re going to be running a business as a real estate agent, so do your homework and develop a game plan.”
Chad Arend
Realty Executives Phoenix, Arizona
“Jump in with both feet. I always advise friends of mine that part-time is not going to work. The market is too competitive and aggressive to be part-time.”
Tim Vandeville, Jr.
Realty Executives Integrity, Wisconsin