A New Chapter: How a Real Estate Broker Built a 100-Agent Company in a Year

I’ve spent my whole life stepping out of the box. Sometimes it paid off. Sometimes it didn’t. But every time, I learned something I never would have learned by playing it safe.

One of my proudest examples came in 2002, when I opened my own real estate company in Washington State.

Start by Questioning “Normal”

After years as a broker and real estate consultant, I’d seen the industry from every angle. So instead of copying everyone else, I looked at what a “normal” real estate office looked like and asked a simple question: the traditional office is broken, why not change that which is restricting profitability and growth?

The Model

My agents worked from home. Technology was changing how agents connected with clients, and I saw an opening. I became one of the early pioneers of the home-office agent while most brokerages still believed you needed a desk, a lobby, and a manager down the hall. Without all that, I ran my company on about a quarter of the overhead of a traditional real estate office. Those savings made everything else possible.

I only hired experienced agents. Most companies loved new agents. They could train them their way, and new agents accepted lower commission splits. I hired only professionals with five or more years in the business.

My agents kept 100 percent of their commissions. In return, they paid a franchise fee, a transaction fee, and a monthly fee. It was simple, it was fair, and the reward went to the people doing the work.

I was completely open about pay. I put a commission calculator on my website so any agent could compare what they’d earn with me against what they were making. Back then, that was unheard of, and most companies still won’t do it. Here’s a hint: agents already know what everyone pays. It’s not a secret.

The Result

I started that first year as a one-man shop. Twelve months later, I had more than a hundred agents.

Your Turn

You don’t need to own a real estate company for this to apply to you. Every industry, every job, and every life has its own “normal,” and most people follow it without ever asking why.

So ask. Look at how things have always been done and ask what would happen if you did the opposite. Ask who is frustrated by the way things work now, and what they’d want instead. Ask what everyone is keeping quiet, and whether being open could be your advantage.

Not every idea will work. Some of mine didn’t. But the ones that did changed my life, and every one of them started with being willing to step outside the box.

Todd.

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