HomeSmart is back in the news again!
This time it’s a RISMedia feature story with Randy Rector, CEO of HomeSmart Evergreen Realty, located in Irvine, California.
To call Randy successful is a massive understatement; he’s truly a top performing HomeSmart broker. Since starting with HomeSmart in 2012, Randy is experiencing increased business growth beyond his wildest expectations.
RISMedia caught word of Randy’s amazing business results with a flat-fee model and wanted to know his secret. His results are off-the-charts. They knew he must be doing something unique.
Here’s the story...
In 2005, Randy Rector joined the family business; a flat-fee real estate brokerage called Evergreen Realty, which was started in 1997 by his mother Tina. They served Orange and Riverside Counties in California.
Their real estate brokerage business grew steadily. Then in 2011, the business hit a wall. No matter what they tried, the brokerage wasn’t able to grow beyond the 700 agent threshold. Randy tried everything he could think to implement. In his own words, “We had seven hundred agents and we didn’t know how to get to the next level without crippling overhead in a flat-fee brokerage model. Once you get to 700 or 800 agents, it’s great, but it gets tough because you keep adding bodies, and overhead kills the model.” The incremental costs of adding agents made it less than worthwhile to grow.
In January 2012, Randy met HomeSmart International CEO Matt Widdows at the National Association of REALTORS® Conference & Expo. Despite having competing businesses, their booths were placed next to each other and they hit it off. Shortly after the event ended, Randy and Matt stayed in touch and Matt invited Randy to come to Arizona to look at HomeSmart International and at Matt’s own HomeSmart brokerage, the company’s founding brokerage and model for brokerage success. To make a long story short, Randy was blown away by HomeSmart’s headquarters. He couldn’t get over the fact that both brokerage businesses had the same amount of staff, yet Matt’s HomeSmart brokerage had twice as many offices and approximately 5 times the number of agents that Evergreen Realty had at the time.
Randy wondered how this was possible.
He found the answer. Here it is in his own words…
Did you catch Randy’s last comment? He said, “Matt, I’ve gotta have that!”
Here’s what impressed Randy most about HomeSmart’s brokerage technology…
At that time, Randy was operating his brokerage with a number of inefficient and costly single-platform systems. None of them talked to each other. He realized what he needed was a system that contained seamless integration between the broker and agent systems.
After Matt introduced him to the HomeSmart proprietary, end-to-end platform, he was convinced that this was what his brokerage needed to scale to the next level.
In August 2012, Randy became one of our franchise partners and implemented HomeSmart’s brokerage technology.
HomeSmart International is proud to say that HomeSmart Evergreen Realty has grown to over 1,100 agents in 7 offices with 57% growth in just a few years. Today, HomeSmart Evergreen Realty is also recognized as one of the top performing brokerages in the entire United States. The company earned honors with placement on the prestigious Real Trends 500® and RISMedia Power Broker® lists over the last two years.
Randy’s aggressive growth strategy is to recruit an additional 4,000 agents through a combination of traditional recruiting methods and brokerage acquisitions.
One last thought from Randy…
To read Randy’s complete spotlight interview on RisMedia, click here.
To learn how HomeSmart’s business model can help you scale your brokerage, contact Bryan Brooks at firstname.lastname@example.org.