This is my third year with Realty One Group and this is the first time I see the owner of the brokerage.
His interview is published. The full version is available here: http://www.lasvegassun.com/news/2010/apr/16/q-kuba-jewgieniew-ceo-realty-one-group/
I citate some interesting questions:
How did you do as a Realtor?
I did about $30 million in sales my first year. I was working by myself. I had no team and no assistants. I got burned out on that, and that was another reason I wanted to start my own brokerage.
How did you finance it?
With the sales that I did. I had $30 million in sales, and I got some good commissions. I was buying and selling properties at that time around 2004 when the market was hot. It was a combination of the two.
How did you set it up?
For six months to a year, I was researching my competition and understanding what their models were and how to tweak it and if there was room for another player. I gave it a shot.
When I do things, I don't sleep. I wanted to perfect it. After the fourth month, I have been profitable since.
How does work your model work?
We charge a $200 flat fee and another fee of $175 (for a total of $375 per transaction). Ninety to 95 percent of the transactions are $375, and the agent gets to keep the rest, no matter if the commission is $2,000 or $20,000. (Agents also pay a monthly fee of $100 regardless of whether they complete any sales).
Why go your route?
The flat fee is simple. Life is complicated. We have two programs. If you are an experienced agent and know how to do your business, it is 100 percent minus the $375. If you need training, we have a mentorship program. It is one on one with our corporate broker and that is a 70-30 split (with 70 percent going to the agent).
Did that help lure people when you started?
We attracted 100 agents the first two months, and had 300 agents by the end of the year.
How many now in Las Vegas?
A little more than 1,600 and with Arizona, 2,200.
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