About three years ago, Rob Stiles was at a crossroads. After several years in sales and management positions in the telecommunications industry, he had accepted a real estate apprenticeship, but was struggling to fit in to a profession that seemed out of touch with the millennial generation.
“I did fine the first year, but the second year I fell on my face,” he said. “The hardest times can be the best times. Either you give up or you grow.”
Stiles didn’t give up. After doing some soul searching, he went to work for a smaller real estate brokerage that offered a more supportive environment.
“It provided teamwork, accountability, and some helpful technology tools,” he said.
There, he met Jeremy Wilson. The two young agents frequently paired up on the job and became good friends. They discovered that they shared many of the same ideas about how to address client expectations in a changing real estate market and compete with seasoned agents who had bigger marketing budgets.
With the help of Stiles’ brother, Ash, a business school graduate, Wilson and Stiles developed a business plan for the real estate company of the future.
Revolution Realty Team opened in August 2013 in a 12-by-12 room with two desks and some filing cabinets. “We had a couple of clients and some good ideas and that’s about it,” Stiles said.
The business model conceived by Stiles and Wilson makes use of technology such as interactive 3D open houses, lead generation tools and electronic signature programming. The efficiencies gained by use of these technologies allow Revolution Realty Team to charge a 5 percent commission rate to sellers instead of the normal 7 percent commission.
Sales volume in Revolution Realty Team’s first few months of business exceeded Stiles’ and Wilson’s expectations and, by the spring of 2014, they were ready to grow. They moved the business to an office space in Cedar Rapids’ NewBo neighborhood, hired an assistant, and began adding agents.
In November 2014, they opened a branch office in Waterloo. This summer, they plan to open a third branch in Iowa City.
Revolution Realty Team is seeking new agents to support its expansion. Stiles said that with an emphasis on teamwork and personal development, the business provides a good opportunity for entrepreneurial-minded individuals to grow their own real estate practices.
“We give them all of the tools they need to be successful,” he said. “We’re building something new together.”
Article source: The Gazette