Introducing today’s guest, Erinn Nobel, the Chief Cultural Officer at Real, a national brokerage founded in 2012. Born in Anchorage, Alaska, she now makes Bellingham, Washington, her home.
In this episode, I sit with Erinn as she discusses how she got into real estate and the changing trends in brokerage models that will redefine real estate in the future.
“Culture is non-negotiable.”
– [Bill Risser]
“We really needed to define our purpose statement and our core values.”
– [Erinn Nobel]
[01:16] Meet today’s guest, Erinn Nobel.
[02:11] Erinn shares some of her background.
[04:56] What is the biggest misconception about Alaska?
[06:15] What were you planning to do before you started Real Estate?
[08:40] What encouraged you to join EXP Realty?
[15:25] What is Real Brokerage doing to take the idea of Revenue Sharing to the next level?
[18:04] What are some of the things you worked on as the Chief Cultural Officer of Real Brokerage?
[20:52] The role that Real Brokerage is playing in closing the gender gap in Real Estate.
[22:01] Erinn talks about Real Brokerage listed on the NASDAQ.
[23:56] Erinn’s advice to new agents.
[24:30] How to contact Erinn.
Erinn is the Chief Cultural Officer at Real. Real estate was not particularly one of the options Erinn had considered while growing up, even in college. Being the daughter of an architect, she had a passion for quality design and graduated with a degree in Industrial Design. She had worked on space planning and design for offices, but while less busy at some point, she decided to get her real estate license to try to make some money and ended up going entirely into it.
Following the demoralizing recession around 2009, Erinn had decided to focus on implementing more tools to serve her clients better. Later on, she decided to research brokerage models and found the model and technology at eXp Realty to be a perfect fit for her. Her husband, who had a Ph.D. in cognitive science, also joined in at eXp.
The eXp national brokerage model is unique, with one brokerage in a state but many support staff scattered across the country. The traditional model of the bricks and mortar brokerage is not here to stay, agents are usually on the move, and they need a certain kind of technology to support it.
The founder of Real, Tamir Poleg, approached Erinn for insight on his brokerage model, which appealed to her. The brokerage uses both the “capped commission” model and the revenue share model but with an app-based working approach. Based on these new kinds of models, teams will be a dominant force in the industry. As an agent or broker, you can be licensed in one state and operate your team anywhere that the brokerage is open by adding licensed agents in that area under your team name.
Erinn’s first step as Chief Cultural Officer of Real was to carry out a culture exercise to define the business’s purpose statement and core values. The purpose statement is “to build a shared future together.” One of the primary core values of the company is “Work Hard, Be Kind.” Erinn explains that when bringing new leaders on board, they are first given an orientation on the company’s core values.
With over five women in leadership positions at the brokerage, it plays a significant role in closing the gender gap in real estate. This would most likely attract more talent from women looking to find a platform to achieve more in their careers.
Being listed on the NASDAQ is a considerable step for Real, opening the door to many potential investors. It also brings the reputation that the company is solid and they know what they’re doing.
Erinn’s advice to new agents: Interview as many brokerages as you can. You’re going to need support, especially in this market. It’s a tough industry right now, and having a great brokerage to support you as you kick off your career is instrumental.
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