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The Agency is attracting many top agents Australia-wide, because it offers them something that other real estate agencies cannot, its incoming CEO Matt Lahood says.
Mr Lahood said that while The Agency has had many agents joining from McGrath, just as many from other firms have come on board.
“Because they can see where they’re sitting is just same old same old,” he told REB.
“They’re coming in to work, they’re doing their thing, and the real estate office takes its 60/40 or 50/50 split. So there’re paying a 50 per cent ‘franchise fee’ to work in an office, and unless they’re getting something for that there’s no value anymore.”
Mr Lahood said many real estate groups are hiding under their brands.
“But it’s not about the brand, it’s all about the agent,” he said.
“You don't list your house with the brand. If you don’t like the agent that comes in, it doesn't matter what the brand is. It could be Jesus Christ Real Estate on the door, if you don’t like the agent, you’re not listing your house. Brands don’t sell homes, people do.”
Mr Lahood said The Agency is “knocking down the walls” and attracting the best agents in the country.
“Our brand is very generic. It’s called The Agency and it’s a simple business, simple model,” he said.
“Agents that have come across to us from prominent brands have grown their market share because they feel they can go out and provide the best service they can to their clients. And then obviously be able to get better deals off the back of that.”
Mr Lahood said top agents want to work with other top-performing agents.
“You think about this, if you’re a superstar agent you don’t want to work with agents that are not at your level. What we do is put together the best agents right across the nation all under the one model.”
But it’s not just top agents he’s after.
“If you’re a junior agent coming through or somebody not quite there, we’re going to bolt you on to that team model. We’ll still want you on because we want to grow people.
“We want the best people in the business, the people that are keen to succeed. We’re looking for talent.”
Mr Lahood said joining The Agency is a “big decision” and he is excited about the model working in Western Australia, where the firm was established a year ago.
“The Agency model is the only real estate business in Australia right now that is the reverse way. There is a finance arm that owns the real estate arm,” he said.
“What we’re about is a one-stop shop. This is why I got excited because it’s what consumers want. They're too busy. But they can come to us and get it all, including their home loan, insurance and income protection. We can also do a wealth management check, manage the property and collect the rent.”
The Agency’s goal is to employ a sales force of 600 agents in every capital city in Australia.
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