A quick history of Sandals Realty
The Premise
“Why would you start a real estate company during the worst period of the last twenty years?” I have lost count as to how many times I have been asked that question. Both industry professionals and novices insisted on an answer. I have come to believe that the more people think you are crazy, the more likely it is that you are a part of something special. It is always a good time to start a business so long as it is creative and innovative. Sandals Realty is both, and it directly addresses the following:
The role of the BROKERAGE has drastically changed over the last ten years, due to the overwhelming migration to the web and to wireless technology. Agents are connected, clients are connected, and the BROKERAGE is no longer the source of information exchange between them. This is a fundamental shift, and the industry has been sent scrambling for a solution.
The History of Sandals Realty
Sandals Realty is a product of a changing industry. In early 2006, two young Brokers, a developer, and a real estate attorney decided to challenge conventional wisdom by creating a unique Brokerage concept that was unlike anything else before it. Together, the group inspected and scrutinized every aspect of traditional real estate brokerages and found them to be (in many ways) incompatible with the way real estate agents (and clients) performed their daily activities.
They found that while the wireless and internet revolution had been adopted by REALTORS and CLIENTS, it had not yet been embraced by real estate companies, or BROKERAGES. This insight was the catalyst for the creation of Sandals Realty. After exhaustive research, the group had reverse-engineered a real estate brokerage that would address the major shortcomings of the old methodology and formulas, while embracing the timeless values of best practices and responsible business. Among the many innovations was a revolutionary three tiered commission structure that allowed agents of differing experiences to CHOOSE the ONE PLAN that best fit into their business. It was named AgentChoice℠, and it instantly struck a chord.
They also refined the office layout. Instead of the traditional “bull-pen” they opted for open space, round tables (so agents and their clients could collaborate on the inevitable web search), robust wireless technology, live networking events, café-style working environments, and private board rooms. No one actually gets a desk of their own (they aren’t in the office anyway). This allows the new model to recruit drastically more agents than was previously possible, and thus, offer superior commission plans. This illustrates the law of large numbers, and it is the basic theory behind the concept. More agents, less fees, more transactions, sustained growth, and increased market share.
The result is an extraordinary new concept that (simultaneously) achieves better commissions, redefines workspace, increases efficiency, produces happier agents, and suggests a solution for the problems facing the BROKERAGE industry today.
In 2007, in the midst of tremendous growth, the company decided that in order to bring this unique concept to all of the REALTORS® in North America, it would have to be offered as a franchise. So the process began.
By 2008, Sandals Realty had attracted and recruited more than one hundred and fifty quality agents, during a period in which the market and other traditional brokerages were in complete confusion and disarray. It had become clear that this would be the direction for the industry in the coming years.
In 2009, the company continued to make strides. Recruiting well over 250 agents and selling the first three franchises. And with the addition of more corporate and franchised units in 2010, as well as a proprietary professional social networking site for REALTORS®, the growth is expected to accelerate quickly in the coming months.
End-Note
As we continue to influence this major shift toward the new era of real estate, we write our story, and re-write old formulas with a sense of humility and wonder. We are committed to reaching every coast, every town, and every market across North America and collaborate with REALTORS® as we embrace this new and exciting environment teeming with opportunities, innovations, and synergies.
Written by:
Ernesto C. Rijavec, Managing Member, Sandals Realty International, LLC
239-693-7263 office
ernesto@sandalsrealty.com
