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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RISMedia's REAL ESTATE October 2018 63 the best career opportu- nity to create any life you want as a real estate pro- fessional," says Owen. "The trajectory is limit- less, and real estate is a vehicle that can take you anywhere you want to go. I love not having a glass ceiling." What sets your firm apart in the marketplace? Daryl Owen: We own a li- censing school with a little over 4,000 students, and we have one of the best environments and training platforms that cultivates and develops newer and budding agents. This also provides a huge advan- tage to our top agents, since we can grow their businesses and teams by giving them agents and training them on their be- half, alleviating two huge burdens team leaders of- ten face. We also have a very talented marketing team that creates incred- ible collateral and brand identities for our agents, in addition to custom, in- house web development on their behalf. How has your market fared so far this year? DO: It's been a really good year for us. We acquired a new location in November 2017, which put our sides and GCC growth to over 51 percent year-over-year; however, even without the new addition, we would still be up 28 percent in both sides and GCC. While the affordability factor is playing a role in slowing sales slightly, we're still in a market that's equitable for both buyers and sell- ers—and it's a great time for both. This is the type of market I tell my agents they can get rich in. Inven- tory is still historically low, though rising slightly, and interest rates are still his- torically low, as well. We anticipate a market shift in the next two to three years; however, we also anticipate a normalization of our market and not a drastic shift like we saw in 2008. Are there any other plans in place for growth in the months ahead? DO: Absolutely. We spent 2018 refining our sys- tems and processes and strengthening our founda- tion; however, we're active- ly looking for acquisition opportunities to propel our growth. We have a rec- ipe for success, and it's worked for us. What are the biggest chal- lenges you're currently facing? DO: I'm not entirely sure whether this would be la- beled a challenge or frus- tration; however, the con- stant need to recruit has put most brokers in the commodity position with only one value proposition: cheaper commissions and fees. If we only compete on price, and not true val- ue, we all become the re- sult of the lowest common denominator. This practice doesn't yield true profes- sionalism and higher stan- dards, nor does it ensure that our agent population is well trained with high- level professionalism. And it also brings our industry down as a whole. As a company, we don't really care nor worry about the new discount brokers, as there'll always be clients who prioritize cost over value, and those who pri- oritize value over cost. What are the biggest op- portunities for increasing business right now? DO: Client experience is on the top of my list, and although this will be valu- able for years to come, it won't increase our busi- ness overnight. The larg- est opportunity for growth today is two-fold: invest further into our corporate inside sales department and acquisition oppor- tunities with struggling brokers who don't have a system and recipe for suc- cess. We can all win much faster and go much farther together, and we have a proven system that works. How are you updating your technology and training to provide the resources agents need to succeed? DO: We built a full tech- nology suite of tools with SSO so that our agents can run their businesses completely mobile and improve the client expe- rience. Not only do we train our agents on how to source business, but also on how to develop great relationships and service the business, which is a big distinction. Our mar- keting systems for listings have been improved upon and innovated drastically, and our communication processes have changed as a result of client prefer- ences. Additionally, we're integrating and building some of our own propri- etary technology that'll improve the client experi- ence during showings, as well as the overall transac- tion experience. VITALS: Nationwide Real Estate Executives Years in business: 7 Size: 7 oces, 764 agents Regions served: Orange and Los Angeles counties, Calif.; marginally service Riverside and San Bernardino counties 2017 sales volume: $641,374,623 2017 transactions: 1,235 www.nreliving.com

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