By Billy Rose
As glamorous it may seem to be a realtor, armed with keys and alarm codes to some of the swankiest pads in LA, it’s a job which can test even the most optimistic. Driving relentlessly across town and back through LA’s infamous traffic. Waiting time and time again for buyers or agents who operate on a time zone other than Pacific Time. Losing a deal because inspections, disclosures or title uncover a depressing surprise. Abandoning time with your friends or family to handle a showing, only to have the showing cancel last second (or later) or to have the buyer peek in the door and immediately turn on their heels because the house isn’t their vibe.
Yet, it’s a job I love. I’ve had lots of jobs. Paper boy. Disc jockey. Club promoter. Tennis instructor. Lawyer. Talent agent. Designer. Developer. But, realtor; it seems to encompass many of the best parts of all of my other jobs (ok, maybe not tennis instructor).
I love treasure hunting for the perfect property for my buyer clients. I love counseling, guiding and protecting my clients throughout the course of a negotiation. I love becoming a close confidante to a family, strategizing late in to the evening. I love brainstorming to come up with out-of-the-box ideas to gain attention for a property. I love persuading others as to why the value of a particular home is more than just what a connection of the dots A, B & C would suggest.
The past few years in real estate have been challenging. As a result of the economic collapse, loans are given to only those who don’t need one; buyers believe that everything is overpriced; and sellers believe that the value of their home wasn’t affected. Long gone are the go-go days when offers were written on car hoods during the first caravan.
The financial environment has made it a less cheery time in the real estate market. Home ownership, long considered a “sound investment”, is now a question mark for some. There’s no longer a consensus on the direction in which the market is moving or how long it will take to get there.
In the last four years, about 40,000 California agents (or nearly 25% of the agent pool) have left the business. (Thankfully, once again, actress/model/waitresses outnumber actress/model/realtors.) Lawsuits (or at least threats of them) are commonplace. And no longer are any pennies left on the table after the conclusion of a negotiation.
Now, more than ever, it’s a time when realtors need to rally together. To trade battle stories; to share information; and to find comfort in knowing that their daily struggles are not unique.
When Blair and I started Rose + Chang some 7 years ago, it was based on the “team” model which is so pervasive in the law firm and talent agency worlds. As a client in either of those entities, you typically had a number of representatives who all banded together to give counsel and advice. It was better for the client not only because they had more than one person watching out for them, but also because they had the opportunity to hear more than one point-of-view.
It was also better for the members of the firm. The junior members got to learn from the more senior members. The senior members could better focus their attention on the matters which most needed it. And everyone had more fun because they were all in it together.
At Rose + Chang, I like to think that we employed the team concept to great advantage, both for our clients and for us. Yet, I felt we never reached a critical mass in size which afforded us, on a more real-time basis, potentially valuable information on “pocket” listings, “quiet” sales and who’s out there looking. Also, there just weren’t enough of us to create a continued and undeniable energy force.
For the past several years, I’ve been blessed to be part of a key group of realtors who all are good at and love their job. On a bi-weekly basis, we get together and share information, relate our struggles, give advice and provide hope and encouragement to one another. We would often quip that we could make a great realty company out of the group.
Mauricio and I came to know and appreciate each other through the group. We realized that we had complimentary abilities and that we saw the world in much the same way. We moved past quipping about making a great realty company and started working towards actually doing so.
We lamented that, with the downturn in the market, it seemed agents were, more and more, retreating to their offices and keeping to themselves. We, too, were guilty of that. But we sparked at the idea of creating a culture which would excite us to get into the office and hang out with our colleagues each day. To form a group of agents who could come together as a family and row together towards several core common goals: to render professional, personalized service with the utmost of integrity; to do so in partnership with a group of individuals who have all collectively and consciously decided to work together as a team; and to have more fun in the process as a result.
Unfortunately, the real estate industry is straining for “personal connectivity”. I’m sure there are a number of reasons for this: technology has us spinning at a much faster pace; market economics have beaten us down; and, as a result of all the corporate consolidation, there are unfortunate instances of internal strife and competition.
My personal experience at Pru was actually quite favorable. Tom Dunlap is one of the best managers, and one of the most decent individuals, I’ve met. And, the corporate brass really takes strides to aid and assist its agents. But, in the end, the big company environment is, in my opinion, unable to foster a close-knit family environment which seems so badly needed in these extenuating times.
Thus, The Agency.
Inspired by organizations with clearly defined positive cultures, such as that identified in Zappos’ CEO Tony Hsieh’s book “Delivering Happiness”, we believe that we can create an environment where agents (and staff alike) can wake up invigorated and excited to come to work and to interact with their comrades. We believe that we can create a culture where we can join together as a team; become better representatives for our clients; grow as people; and have a lot more fun in the process.
Perhaps we’re idealists. Perhaps we’re dreamers. Perhaps were doomed for failure. But, as Jerry Maguire said: “I am prepared to [fight] for our cause. The cause is caring about each other. The secret to this job is personal relationships.”
