Spring has been a time for celebration at Related Realty, with the residential brokerage firm marking the one-year anniversary of its 2013 launch just as ten of its agents were named 2013 Top Producers at the Chicago Association of Realtors (CAR) Sales Awards in March.
“We’ve achieved some exciting milestones in our first year, from opening our new Hubbard Street office to growing our team to a roster of 35 agents and, most recently, seeing 10 of those agents noted as CAR Top Producers,” said David Wolf, president of Related Realty. “It’s already been a fantastic start to 2014, and we’re incredibly optimistic about the year ahead for residential real estate as well as our continued expansion.”
Other notable first-year accomplishments for the Related team include achieving the city’s lowest average market listing time, which was 22 days versus the overall Chicago average of 97 days. Properties listed with Related also sold for 99.5% of their original listing price, beating the CAR average of 95%.
“These numbers are a direct reflection of the expertise of our agents and their level of insight into the current Chicago market,” said Wolf. “It shows our team is not only pricing listings correctly, but also optimally preparing, positioning and marketing them.”
The firm launched last spring just as homebuyers and sellers were gaining confidence in the recovering real estate market, and Wolf’s growth plan for the coming year will continue to build on that positive momentum.
“Related Realty ended 2013 by adding key members to our team that strategically align with our growth goals and have us well-prepared to serve our clients efficiently as the market strengthens,” he said. “In 2014, we intend to significantly expand our agent team. That said, I’m focused on quality, not quantity of agents, and I’m growing our firm with market-leading agents who share my excitement about what’s in store for the future of Related Realty. Each member of our team brings a level of dedication and professionalism to the table that will not only result in success for their own business, but for the brokerage as a whole.”
In addition to hiring talented agents, Wolf and his team spent the first year building a collaborative culture that provides agents with the support and coaching needed to give clients a rewarding experience. Agents are compensated for their teamwork as a way to improve their skills and better serve their clients.
“We encourage our agents to work together to improve their skills and help grow each other’s business, and I’m personally available as a resource to our team,” said Wolf. “That’s a real point of differentiation for us from larger firms, and something that’s extremely appealing to the business-minded agents we hire. They know we don’t just see them as a number and we put a priority on their professional development.”
Related also used the first year to make investments in technology, focusing on applications and tools that improve agent efficiency. The firm takes great care in evaluating the real world application of each new tool, and agents are provided with thorough training of all new programs.
“This is just another example of the great support we give our team,” commented Wolf. “And because we’re a newer, smaller firm, we can be more nimble when it comes to evaluating and adopting new technology.”
Related Realty’s offices are located at 350 W. Hubbard. For more information, visit www.RelatedRealtyChicago.com or call 312-832-2300.