Agent-Owners Boost Growth
Employee ownership, referral programs and more keep this agency growing.
(Boonton, NJ, November 3, 2015) — As he maps a growth plan for his brokerage, Daryl Owen has begun offering ownership stakes to some of his top-producing agents.
So far, 10 agents at Nationwide Real Estate have decided to invest in the company as it opens new offices in southern California. Owen says the agents must buy into the office; in exchange, they get a chunk of the profits.
Part of his pitch is that Nationwide Real Estate of Buena Park, CA, has grown to 500 agents in just five years. The company reported revenue of $5.6 million in 2014, a 1,500 percent growth rate that placed it No. 300 on the Inc. Magazine list of fast-growing companies.
Another key to Nationwide’s growth has been the recruiting incentive it offers agents. If a Nationwide agent recruits someone from outside the company, the referring agent receives 10 percent of the company dollar generated by the agent he recruited.
Details on Owen’s business model appear in the November issue of Real Estate Broker’s Insider.
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