A new business model helped generate an incredible $2 million in sales per day in 2017 for a relative newcomer to the real estate game.
Starting just four years ago, @realty operates under a unique business model, one which earned them the Innovation Award at the Real Estate Institute of Queensland’s (REIQ) 2018 Awards for Excellence.
Director JJ Taylor said that the driving force behind the company’s unique model, and its subsequent success, is the desire to provide real estate agents with more freedom and flexibility.
“The essence of innovation is identifying and removing roadblocks which prevent best practice or performance in any area. @realty started because the traditional model for selling real estate was proving too rigid and restrictive,” the director said.
@realty offers commissions of 93 per cent, which makes agents “more willing to collaborate”, according to Mr Taylor, and the high commission isn’t their only shake-up.
The director added: “Some agents were frustrated with having to compete for quality listings with managers and principal agents. Our executive team does not sell; they are purely on call to provide resources and support.
“The goal of @realty is, basically, to combine the advantages of operating as a sole trader with the benefits of working within a branded office.”
The network, which operates from just a single office on the Gold Coast, has over 500 agents nationwide.
Mr Taylor said that, because @realty operates from one office, it allows agents to have no designated “areas” and lets them better leverage their networks.
“This way, our agents don’t have to spend their time attending weekly meetings in a regional office,” Mr Taylor said. “They can focus on doing their jobs, and if they need support, they have multiple tools at their disposal.”
@realty has also invested in bespoke software as well as digital and social media management systems that enable agents to work efficiently and remotely.
“We believe @realty has been a game changer not only for agents but also for buyers and vendors who benefit from our approach to selling real estate using custom technology,” the director said.