RISMedia's Real Estate Magazine

OCT 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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46 October 2018 RISMedia's REAL ESTATE In 2011, Tom got his broker's license and became ERA Colonial's chief op- erating officer, and in 2017, Dennis sold him the company. Today, ERA Colonial Real Estate is a top 15 ERA Company nationally with four offices in Texas from Fort Hood all the way down to San Anto- nio. Last year, they closed on 2,063 units, half a billion dollars in volume, and their GCI was $10.7 million. One year after the transition, Tom is focused on reimagining growth for his company, while maintaining the core of integrity that was the bedrock of his father's business. WORKING TOWARD 300 "For many years, our version of growth was not necessarily to add agents, but rather, to see if we could help our existing agents be more successful—to sell more," says Tom DeWine. ERA Colonial Real Estate has al - ways hovered between 75 and 100 agents, and the goal is to have that number rise to 250 - 300. "The chal- lenge for me," says DeWine, "is to not diminish any of the high support services that our agents enjoy, but to actually expand upon that in some additional, meaningful ways, while we also add more successful and experienced people." BALANCED BUT AGGRESSIVE GROWTH By increasing the amount of expe - rienced, high-quality agents at the brokerage, DeWine is hoping to hit an important target for his company. "A couple of years ago, we decided that our threshold for success for an agent was 24 transactions closed in a 12-month time period," explains DeWine. Right now, two-thirds of their agents are doing in excess of 30 transactions per year, and the aver - age per-agent productivity across the entire company is about 21.7—and DeWine and his executive team are working tirelessly to reach their goal. But DeWine also understands that hard work and success can sometimes come with interpersonal costs, and he's striving to make his company an even healthier place for people to succeed—what he calls a "balanced but aggressive" approach to growth. "Our agents and our staff are indi - viduals. They've got families, they've got other interests, and they've got other things in their life that are im- portant," he adds. "My version of in- tegrity is to help them create balance in their work and personal lives." ADAPTING TO CONSUMER BEHAVIOR "We're more open than ever to any business we can partner with or bring in on our own that will add that end-to-end, 360-degree type of solu- tion for someone who is going to buy or sell real estate," explains DeWine. "Consumer dynamics are changing with Lyft, with Uber, with Amazon. Real estate is changing too, so it's been important for us to watch these trends and think about how we're go- ing to evolve to serve the consumer in a relevant manner." A big part of the evolution process involves leveraging the community and network Colonial Real Estate has with ERA and Realogy at large. "That's an unfair advantage we have over a lot of our competitors," acknowledges DeWine. "We have access to ERA's technology, tools and capital to help us meet shifting demands, plus a network of amaz - ing, experienced people all over the country." RE For more information, please visit www.era.com. /RRNLQJWRWKH)XWXUH 2QH

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