It’s been an industrywide challenge to achieve company growth within the residential real estate realm the last few years, but someone forgot to tell Virtual Properties Realty (VPR) that. The Atlanta, Georgia-based brokerage recently hit a significant milestone, crossing over the 5,000-agent mark to 5,177 active agents, posting an all-time record sales performance and a four-year agent growth rate of 35% since merging with United Real Estate in 2020. Celebrating its 25th anniversary this year, United | VPR has joined the elite ranks of independent, non-franchised brokerages, an accomplishment attained by less than 1% of firms.
VPR Co-Founder Steve Wagner explains that the phenomenal growth has a lot to do with reputation.
“Everybody in at least our state now knows that we have about the best value proposition in the business,” he says. “Momentum is something that’s real. You have to go back seven or eight years to find one negative recruiting month. So we have momentum and a reputation for high value and great pricing when you compare what we provide to our agents as opposed to what we charge.”
Jamie Mertz, chief operating officer, makes the point that there are many factors playing into the firm’s continued success.
“I think it’s our background, our family culture, our environment that we provide to the agents, while we have a hybrid opportunity,” she says. “They can be virtual, they can be in person, they can go to any of our locations. I think that adds to our momentum. We’re part of the National United Network, and we still have that warm, family feeling. I always reference the TV show ‘Cheers.’ You come in and sit down and everybody knows your name. Something we try to exhibit here is making sure that even with over 5,100 agents, our staff members know who you are, where you came from, what your background is.”
Both VPR execs agree that having grown 35% after the merger with United has been a major factor as the growth trajectory continues to steepen.
“It’s an extra layer of excitement,” says Wagner. “The leadership of United Real Estate on a national level just keeps it exciting, and they’re always rolling out new tools and services. And then size is important, too. We were pretty big before, but we would have people say they want to be with a bigger company. We very rarely hear that someone wants to be with a bigger company than we are now.
“For more than 20 years, we built a great company and team, and since our merger with United, we have really taken off. United has exceeded all of our expectations, and partnering was one of the best business decisions we’ve made. They have accelerated our recruiting, retention and sales results and taken us to a new growth level we never thought possible, especially considering our downsized market. Their offerings, such as affordable agent healthcare, debt elimination tools, retirement planning and the LeadBoost referral fee, lead generation system, have increased our value to agents and enhanced our competitiveness.”
Mertz points out some specifics that have led the charge.
“United’s Bullseye platform is extremely useful for our agents with its multiple applications,” she says. “CRMs, lead-boost websites and The Learning Academy are just a few of the backend products that have added to our success since we joined with United. Then there’s their energy and motivation behind the scenes. You’ve always got this large team behind you, and whatever the challenge is, they’re there for support.”
Staying at the forefront: coaching, training and mentoring opportunities
As the largest brokerage in Georgia, a focus on training, education and development has played a big part in the push forward.
“That has been instrumental in our growth from the beginning,” says Wagner. “We offered CE classes right out of the gate and marketed them as a no-cost opportunity for any agent in the state, which helped build the foundation for who we are. You’ve got to be on the cutting edge today because everything is constantly changing, so we try to be at the forefront in offering coaching, training and mentoring opportunities to our agents for them to expand and grow.
“We’ve got a luxury division as well as a new homes division, which is really doing well. We’ve got a land and commercial division and an international division, and offer training in those areas, so people interested in those sectors find us as the right landing spot. We have a company that can bring in new agents. Even some big companies don’t want new agents. We have training specifically for new agents, and we also have training for advanced agents, and for team creation. We have so many success stories about agents advancing in their careers and they always ask, ‘What’s the next step?’”
As EVP of Training, Education and Development for United Nationwide, Wagner highlights two specific programs within the curriculum he’s developed and deployed across United’s learning management system, The Learning Academy.
“Our LAUNCH program teaches the core competencies—the fundamentals of real estate. It consists of 10 three-hour training sessions delivered by highly accomplished subject-matter experts, along with field assignments. Every session includes prospecting training, which is the key to both surviving and thriving in the business. LAUNCH has been instrumental in helping us recruit and retain newer agents.”
The second program, The Growth Games, is led by professional coach Birgit Biehl.
“I created it, and she improved it,” says Wagner. “Participants set their own goals, and the program instills motivation and accountability to help them achieve their goals. Not only is the program free, but we also offer $2,500 in awards and prizes for those who meet their KPIs—key performance indicators. The Growth Games is an exciting program that illuminates a clear, proven path toward agent success.”
Agent retention, which has become one of the major challenges for companies in real estate, has not been an issue for VPR due to its exceptional culture.
“I would say we have a team environment that supports everybody,” notes Mertz. “You’re not assigned one particular person; our entire staff is there supporting agents from the moment they walk in the door or from the moment they put something under contract all the way through closing. And for those who are new or thinking of exiting the business, we reach out to them and have conversations, finding out where their challenges are and if we can overcome those obstacles. A challenge is just another way for us to teach you, grow with you and show you how you can achieve your goals.”
To learn more about United Real Estate, brokerage succession planning, brokerage valuation and sale or franchising opportunities, visit GrowWithUnited.com. Agents interested in learning about career opportunities with United Real Estate can visit JoinUnitedRealEstate.com.
Article written and published by Michael Catarevas, RISMedia | November 5, 2024
