RISMedia's Real Estate Magazine

JAN 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 January 2018 43 keep up with the growth by adding locations and agent count. In 2017, the firm saw the addition of a few new neighborhoods, a trend Caveness is expect- ing to replicate this year. "We've done some small mergers, which has helped us grow our business in the last year," says Cave- ness. "We're pretty careful about it, but we do see our company as a growth com- pany, and as long as the market supports it, we will grow." Agents are attracted to the firm, he believes, be- cause the company creates opportunities for brand new agents to enter the real es- tate business. "We kind of specialize in that, and we're proud of it," says Caveness. "We prefer to hire new agents rather than a retread of some- one that was trained else- where. We want to recruit people through our pre- licensing school and put them in our career-start training program that we offer each month and train them the Carpenter way." While keeping up with the latest and greatest technology can be a chal- lenge, especially for some- one of his tenure, Cave- ness surrounds himself with people who can keep tabs on what's happening. "They monitor what's happening out there in the real estate industry coast to coast and look at what's working and what's not," says Caveness. "Part of our culture, and we re- ally work this every day, is that we're not attracted to the shiny penny. We're not pioneers. We study what other smart people are successfully doing, and then we adapt it." While that may mean losing out on being the first to jump on something, it ensures that the firm is making the right moves for its business model. Taking the time to study some- thing before implementing it also leads to positive results. One way the firm dif- ferentiates itself from the competition is by not charging agents transac- tion fees, in addition to paying for everything a new agent needs—except for their first set of business cards. "We provide the ma- terials, the support, the coaching and the training, and that training never stops," says Caveness. "Our competitors even call us the 'training company,' and while they might hope to seduce our people away, we pride ourselves on that. We provide the opportunity to begin a real estate ca- reer and build a long-term, financially rewarding ca- reer with our company." Many of the firm's agents have been with the company for a long time, and Caveness feels that this is one of the reasons the company has been so successful over the years. Another big differentia- tor is the fact that Carpen- ter REALTORS® still adver- tises every Sunday in the newspaper. In fact, Cave- ness believes this is still the best media reach in the marketplace, enjoying the exclusivity it provides the company. "We're very much a tra- ditional residential real estate company," says Caveness. "We're not in any other businesses. For a company our size, that's kind of rare. All we focus on is helping people buy and sell homes, and it's making us more and more unique." RE VITALS: Carpenter REALTORS ® Years in business: 47 Size: 32 offices, 685 agents Regions served: Central Indiana 2017 sales volume (as of Nov. 1): $1.15 billion 2017 transactions (as of Nov. 1): 7,000 www.callcarpenter.com Caveness has helped build the firm from six offices and 120 agents to 32 offices and 685 agents.

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