Right At Home Realty
With more than 2,400 sales professionals across the Greater Toronto Area, and new offices opening last year in Durham, Oakville, and Burlington, Right At Home Realty continues to further expand its market presence, already with offices in Toronto, Richmond Hill, and Mississauga.
As a member of the Toronto Real Estate Board, Right At Home Realty ranked first in the number of homes sold (combined listed and sold units) in 2010 through to 2012 in Toronto. Despite its short history in the marketplace, Right At Home Realty has experienced exceptional growth since it opened its door in 2004.
Looking to be more competitive with the major market leaders, Right At Home Realty recruited Don Kottick, a former Vice-President with Royal LePage, who now serves as the company president. Kottick’s mandate is to grow brand awareness, increase value propositions, and to best utilize training and technology to push the organization to the forefront of the marketplace.
Kottick spoke with The Canadian Business Journal about the real estate opportunities that exist within the GTA and surrounding region, plus the growth he anticipates for the company on the road ahead.
“We still have some more opportunity to grow further in the GTA. Once we’re satisfied that we’re entrenched in all areas, we’ll look at expanding outside of the GTA,” Kottick summarized. “Over time, we’ll grow within Ontario. Our short-term is in the GTA and then into the Greater Ontario market.
“I firmly believe that our business model is the model of the future. The beauty is that our model is recession-proof. When the economy starts to slow down, our model becomes much more attractive. Our model empowers salespeople. The last time the market turned, our recruiting numbers increased dramatically.”
Right At Home Realty stands out in the marketplace because of its unique business model. Whereas more traditional brokerages are burdened with inherent costs like overhead, long-term leases, franchise fees, and operating costs, Right At Home Realty’s model works on the economies of scale. That makes it sustainable. As the first to the market with such a model, Right At Home Realty presents a challenge to its competition.
By the numbers, there are more than 37,000 Realtors® trading in the GTA, of which 6.5 per cent belong to Right At Home Realty, exceptional market share given that the organization has been entrenched in the marketplace for less than a decade.
Right At Home Realty’s model allows it the financial room to offer a competitive commission split model, setting it apart from the competition who cannot offer such a model because of restrictive costs.
“We’re closing the gap between the traditional brokers and making it difficult for them to compete with us. It’s difficult for anyone to try to compete with us because, now at 2,400 sales professionals, we’re a force to be reckoned with,” Kottick described. “Our commission plan is very transparent whereas with traditional brokers they have all kinds of different plans offered to different people. We have one plan for everybody in the company.”
Right At Home University
Not only does Right At Home Realty offer its sales professionals attractive commission packages, it also offers professional development opportunities, instituted under its professional training program known as Right At Home University.
“We want to make sure that the skills and abilities of our sales professionals are continually upgraded and honed,” Kottick described. “We have brought in a very professional management team within each of our branches, with highly trained professional managers running each branch, and we also have strong ties with the Real Estate Institute of Canada, a leading training institute within the [real estate] industry.”
With a mandate to grow consumer awareness of the brand, Right At Home Realty has developed and implemented a comprehensive marketing campaign that includes a complete retooling of its website and marketing materials, and has increased access to technology for its sales professionals to more readily gain vital market analytics. Advanced technology infrastructure continues to push the company forward. Additionally, Right At Home Realty has formed strategic partnerships with key industry players, such as RBC Royal Bank, Imagemaker360, and Idealogical, to further advance its value to the marketplace.
“In eight years, this company has come out of nowhere and is now the largest independent in all of Canada,” Kottick concluded. “We continue to grow and we have a great reputation, where we’re attracting great agents. Right At Home Realty is a great Canadian success story.”
*Real Trends – Canadian Top Brokerages report 2012, based on transactions.