Episode 126: The Next Evolution of the Traditional Brokerage with Winston Murray
Mar 15, 2023
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Winston Murray discusses the advantages of full-service brokerages, autonomy for agents, and the importance of referral-based businesses. He shares insights on Sisu Client Portal, the difference of Works Real Estate, and the keys to success in real estate.
Full-service brokerages offer autonomy and team-like support for real estate agents.
Intentional referral-based business growth drives success and differentiates Works Real Estate from traditional brokerages.
Deep dives
Building a High-Performing Business through Growth Automation
Utilizing C-Suite's growth automation software, a brokerage in the Pacific Northwest scaled from eight agents to 80 within a year, establishing a strong analytics-driven business with CSU's dashboard-like support. The founder emphasizes the importance of intentional, referral-based business growth, offering autonomy within the brokerage to attract entrepreneurial realtors.
Supporting Agent Growth and Autonomy
Offering transaction coordination, dedicated listing support, and professional marketing services, the brokerage ensures agents' focus on client relationships and high-level tasks. By implementing tiered splits based on production, agents are incentivized to transition into running their business efficiently and building an intentional referral-based clientele.
Enhancing Agent Productivity and Success
By initiating sales challenges to increase appointment setting, the brokerage promotes a culture of healthy competition and productivity amongst agents. Additionally, implementing automated tasks and follow-up systems streamlines database management, facilitating increased lead conversion and business growth.
Philanthropic Involvement and Nonprofit Initiatives
Prioritizing charitable endeavors, Winston Murray shares his experience in establishing a nonprofit focused on aiding young individuals with addiction struggles. His recent venture, Works Housing, aims to combine agent resources and community support to assist housing-related nonprofits in the Pacific Northwest, embodying a philanthropic ethos within the real estate industry.
The traditional brokerage model typically found its strength in individual realtors working independently to manage their clients and transactions.
But with the emergence of the full-service brokerage model has proven to offer several advantages over its conventional counterpart.
By providing real estate agents the autonomy in building their businesses while providing “team-like” support, these full-service brokerages are able to keep and attract those agents who approach their production and trade like a business.
And in a time when big-name brokerages are becoming less relevant, the full-service brokerage is helping agents leverage their time so they can do what they do best and provide top-quality service to their clients while still maintaining a quality lifestyle.
In this episode, Winston Murray, CEO of Works Real Estate talks about how he built his real estate business, his vision for starting his own full-service brokerage, and why he believes that Sisu is essential for setting up real estate businesses for success.
Top Takeaways:
(06:26) Why Winston decided to start his real estate brokerage
(08:08) How Sisu Client Portal works
(10:49) What makes Works Real Estate different
(20:23) The advantage of building an intentional referral-based business
(24:43) Is it worth leaving your team or brokerage to work solo?
(30:54) What does an agent need to do to be successful?
(34:38) What separates Works Real Estate from a team or a traditional brokerage
(37:08) What prompted Winston to start a sales challenge for his agents
(40:49) Winston’s biggest WHY
(43:49) A piece of advice to those running a real estate business
At 20, Winston Murray got involved in some trouble and ended up getting a DUI. He decided to change his life and got totally sober. He then spent the next four years building and doing volunteer work for a nonprofit organization centered around helping youth who have struggled with drug and alcohol addiction. After passing the torch, he then shifted to real estate so that he can make money to support his family.
Although Winston has been in the real business for 11 years, with the last 2 years building his own brokerage, his philanthropic entrepreneurial spirit never left him. He wants to sell real estate, learn the trade so much, and then eventually come back to the nonprofit world.
Today, Winston Murray is the CEO of Works Real Estate and Works Housing, a nonprofit organization centered around agent resource education, and raising funds through community members and past clients to help other nonprofits who are already doing really good housing-related things in the Pacific Northwest.
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