In the following interview, Randy Rector, CEO of HomeSmart Evergreen Realty in Irvine, Calif., discusses the advantages of the brand and the brokerage’s growth strategy.
Region Served: Orange, Los Angeles and San Bernardino counties
Years in Real Estate: 13
Number of Offices: 12
Number of Agents: 1,400
Why is the HomeSmart model a great fit for you in the SoCal market where you’re based?
The HomeSmart model gives us the operational efficiencies needed to maintain 25-30 percent bottom line margins. These efficiencies include proprietary technology, centralized file review, risk management, one-click marketing and accounting services. When many of our competitors are running sub-10 percent margins, this is a huge advantage.
Are you leaning on specific technologies to make your office more efficient, your team more productive, or both?
We lean a lot on HomeSmart’s proprietary technology as it streamlines almost every aspect of the brokerage business, driving more profitability to the brokerage. Additionally, our agents can produce professional marketing pieces instantly from almost any device. They have the ability to upload their transaction documents to our system from anywhere, eliminating the need to carry sensitive personal information around with them.
How is HomeSmart making it easier for brokers to develop next-gen real estate professionals with a focus on client relations?
With our agent panel, we’ve nearly eliminated the need for traditional paperwork as transaction documents can be completed and uploaded utilizing any device. Our staff will compile, review and audit all documents for compliance so that our professionals can concentrate on their clients’ needs. In addition, we have licensed transaction coordinators that follow up on the transactional details, allowing our professionals to assist clients with the emotional moments that come with their move.
Are there any expansion opportunities on the horizon in 2019?
There’s a massive shift about to happen in our industry within the next five years. A large majority of our broker/owners are at or near retirement age, and there isn’t a definitive exit strategy in our industry. This allows for some interesting win-win scenarios, whereby we’ll be able to create a bridge retirement plan for these owners.
What’s your best tip for dealing with difficult clients?
Bury your ego. Don’t get caught up in their personal emotion, but rather, focus on the facts and assist them with moving their transaction to a successful conclusion.
What’s the most creative marketing campaign you’ve run?
We ran a campaign called “Shift Happens” when we joined HomeSmart in 2012 to highlight the shift our marketplace would see when we combined the benefits HomeSmart brought to our existing brokerage.
What’s your key to staying profitable?
HomeSmart proprietary systems, which allow the brokerage to centralize operations and eliminate redundant costs.
What’s your best recruiting technique?
Our support. Not only are our risk managers available seven days a week, but also, they typically respond within 10 minutes. Our agents share this great experience with non-HomeSmart agents and recruit them to experience this support.
For more information, please visit www.homesmart.com.
John Voket is a contributing editor to RISMedia.