Vitals: Berkshire Hathaway HomeServices Fox & Roach, REALTORS®
Years in business: 23, though roots go back more than 100 years
Size: 75 offices, 5,500 sales associates
Regions served: Southeastern Pennsylvania, Northern half of Delaware, lower two-thirds of New Jersey
2019 sales volume: $11 billion
2019 transactions: 32,000
In 1993, Larry Flick V began his career in real estate and financial services as a mortgage consultant, rising to management in 2006.
He currently serves as CEO of Berkshire Hathaway HomeServices Fox & Roach, REALTORS® in Pennsylvania, and as president of The Trident Group, which consists of a mortgage company, title company and insurance company.
Through the years, Flick has accomplished a great deal, leading his organizations to more than $12 billion in sales.
Flick also sits on the board of Fox & Roach Charities, a non-profit charitable organization helping children and families in stressful life circumstances. Since its formation, it has donated $7 million and 241,000 volunteer hours to more than 250 local non-profit organizations [at press time].
What was the motivation behind your decision to get into the real estate industry?
Larry Flick: My family has been in real estate since I was born. When I was in college, I was leaning toward going to law school, but when I approached my senior year, I thought more about it. I like the activity of the real estate and mortgage business. I like the pace. I like helping people achieve their dreams, and I like what we do at our company.
How have you approached growing your business this year?
LF: On Feb. 4, we announced the acquisition of Gloria Nilson & Co. Real Estate in Central New Jersey, and we are very excited about a new relationship with them. They have more than 700 associates and closed over 3,000 transactions last year. That has increased our marketshare to 18 percent in Mercer County and expanded our footprint into Ocean and Monmouth Counties.
What is your secret for motivating agents to success?
LF: We have a robust training program that includes both live training and online training. What we’ve started to do recently is break up the training into beginner, intermediate and advanced classes so that agents are being taught at the appropriate speed. We also have “mastermind” sessions where we get our top agents together so they can share their best practices with each other.
Why are agents attracted to your firm?
LF: We feel that selling real estate successfully is about relationships. It’s about our relationships—meaning the leadership team—with our sales associates, and their relationships with their customers. We provide our associates with everything they need to achieve their goals. That means the tools, technology and support they need to be successful.
How can agents best work with today’s millennial buyers?
LF: You have to be very quick. You also have to be very responsive. Your service has to be exceptional, and when it’s not, you need to respond accordingly. If there’s a problem with a transaction, you need to fix it, and fix it quickly.
How does your firm separate itself from the competition?
LF: We are No. 1 in most of our markets, with approximately three times the marketshare of the company in second. That gives us more signage than anyone else and helps us attract the best agents in the marketplace. We also give back to our community through Fox & Roach Charities, which is celebrating its 25th anniversary this year.
Keith Loria is a contributing editor to RISMedia.