United Real Estate proves to be the perfect choice for partnerships — RISMedia
Three New Jersey brokerage owners and/or partners all have unique stories to tell about how they grew and grew their businesses, but all agree on one crucial point, which is that partnering with United Real Estate was by far the best decision. they never did.
Success stories are the norm for United, now one of the top 10 brokerages in America after just 11 years in business. Led by CEO Dan Duffy and President Rick Haase, the Dallas-based company sees itself as the modern alternative to old-school real estate brokerages. This is precisely what New Jersey brokerage executives were looking for.
Jeff Bailey, COO and owner of United Real Estate | North Jersey, decided in 2015 that to grow his small property company, he needed to partner with a major player.
“There was nothing like United in New Jersey back then,” he says. “We were the first to market it, and that was really exciting for us. I flew to Dallas and met Dan Duffy. I understood that they were offering out-of-the-box thinking “It was really great. The whole management team at United was and is great.
Once aligned with United, Bailey and his local team grew from a single office to a multi-office regional company serving New Jersey and more recently New York’s Hudson Valley.
“What we did was secure a large territory when we first joined United, thinking that expansion was going to be key, and people came to our territory to open United offices and partner with us,” he explains. “With United’s support and guidance, we have been able to forge partnerships to grow our business exponentially.”
Substantial increase in sales volume
United real estate | North Jersey reported total sales volume of more than $700 million for 2021, generated by agents completing 1,538 total real estate transactions between buyers and sellers. This is an increase of $200 million in sales volume and almost 400 transactions over the previous year.
United Real Estate wowed the brokers it brought on board with a financial philosophy that agents want to hear today.
“Today, most franchise systems charge their brokers an amount of money that is a gross commission income multiplier,” Haase explains. “And when they do, it’s good for their bottom line, but it doesn’t leave enough revenue to pay agents what they want, need and deserve to stay with the company. . Additionally, older franchise systems typically don’t provide enough services, tools, and localized support, forcing owners to spend more, hurting their business economics. »
Bailey points out that United Real Estate | North Jersey has had former agents who have expressed interest in an ownership position and have done so through partnerships. “We don’t just sell franchises in our territory, we partner and leverage synergies,” he says.
One such person is Justin Phillips, who wanted to move from being an independent broker to aligning himself with a strong national partner. After doing some research, including meetings with Duffy, Haase and Bailey, he signed and is now a Principal Broker at United Real Estate | Edge of the Hudson Valley.
“In order to grow and expand my real estate brokerage, it was necessary to align with a national partner who would be able to offer more money to my agents while offering cutting-edge marketing solutions, technology and office management,” he says.
“United Real Estate is far ahead of the pack compared to other real estate companies I have reviewed. The transactional or paying real estate model paying almost 100% commission to an agent is the new way. Previously, I was a recruiter and manager at another well-known national company where it was difficult to recruit new agents in an outdated compensation and operating model. The company has relied heavily on high broker-agent splits, high franchise fees and high overhead costs to run and maintain its traditional real estate offices. »
Phillips cites partnership with United Real Estate | North Jersey as crucial to increasing its value proposition to rookies, noting that their in-depth knowledge of the United system and ability to add hundreds of agents during the pandemic made it clear there was a winning formula.
“As new agents join United Real Estate | Hudson Valley Edge, they are greeted by an established system already in place, from onboarding to administrative and managerial support to training systems, so they don’t waste a lot of time during the transition.
As for advice he would have for other entrepreneurs looking to expand their offices, Phillips was clear and concise.
“Keep an open mind and weigh all options,” he says. “Look at the financial strength of the company and its offerings to an agent. Ask yourself: ‘Are they an agent-centric business or are they focused on a top-down (broker first) mentality?’ After finding United Real Estate and realizing they were focused on the agent and long term growth, I knew I had made the right decision.
Switching to United is paying off
The same goes for Marion Douglass, one of Bailey’s partners who was previously affiliated with another national franchise in Rutherford, New Jersey, for two decades. She is now a partner of United Real Estate | North Jersey Rutherford Office.
“When my old company went public, there were a lot of downward management changes,” she says. “United provides more of what we want and need, especially user-friendly technology for our agents.
“The real estate market is changing and brokerages must also change. I am delighted to bring our 20 years of real estate experience to our new venture, becoming a partner of United Real Estate | North Jersey.
Douglass also touts United’s compensation structure, understanding that the more money agents can earn, the more loyalty they will be.
“The commission structure is exceptional at United, offering a 100% commission split and charging agents a small fee for each transaction they complete,” she explains, “so more money goes into a person’s pocket. agent without reducing customer service.
“When we opened our office, we decided to create a good working environment for agents. And now that’s what we’re looking for here. We believe that we can provide the best all-round service to our agents, which in turn also provides our customers with the best service. »
So what’s next in United’s success story in New Jersey? For United Real Estate | Bailey of North Jersey, the next stage of growth is mergers and acquisitions, with support from United.
“That’s the next phase of what we want to do,” he says firmly. “We are working with the home office and the management team and have a few irons in the fire right now, like bringing in an office of 100 to 200 agents all at once.”