“The reasonable man adapts himself to the world; The unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man.”— George Bernard Shaw
For decades, home sellers have been paying real estate agents 6% or more when it’s time to sell their homes. St. Petersburg-based REALean is serving a higher purpose: helping people keep more of their equity when they sell their homes!
Kevin and Lisa Cahill created REALean to provide a better way for home sellers to have a more productive and profitable transaction, from experienced and knowledgeable real estate professionals while paying a more reasonable fee.
When REALean lists homes for sale, they charge sellers 4%, rather than the typical 6% or more. If no other agent is involved in the transaction, REALean reduces that fee to just 3%. In the past 3 ½ years, REALean has saved home sellers nearly $750,000 had they paid 6% to sell their homes. They provide concierge-level service to sellers, with skillful statistics-driven pricing analysis, massive marketing exposure, negotiation guidance and complete contract-to-close assistance, all while charging a lot less.
Kevin began his career as a Realtor in Shaker Heights, Ohio, in 1999. Over the past 18 years, he’s been involved in nearly every aspect of the residential real estate brokerage industry, as an agent, growing his team of agents, owning real estate offices and in executive leadership roles with Keller Williams Realty and Coldwell Banker. Through these experiences, working for the largest real estate franchise brand and then the nation’s largest residential real estate brokerage, recruiting agents, improving profitability in those offices, coaching agents, and advising agents and consumers on thousands of real estate transactions. Kevin saw nearly every possible scenario in a residential real estate transaction. Agents would complain that they were losing listings because prospects thought their fees were excessive.
Lisa joined Kevin in the real estate business after more than 20 years as a CPA in tax practice, working on tax matters for corporations, trusts, partnerships and high-net-worth individuals and families and negotiating with the IRS on behalf of clients. With her background, Lisa could see serious inefficiencies in how real estate was sold. The couple realized there was an opportunity to create a different business model, embracing new technology to provide concierge level real estate service at a lower fee structure.
One of Lisa’s first listings was a commercial property that was owned by an out of state corporation. After a bit of time on the market, and a lot of interest and activity, a couple came directly to Lisa and made an offer on the property. The seller made a counter-offer and the numbers were too far apart to make it work for either party. Lisa, as a CPA, looked closely at the numbers. She determined that if she reduced her commission to help bridge the gap, and if the buyer and seller were a bit more flexible on pricing, it might be possible for both parties to accomplish their goals. By reducing the impact of the Realtor fee on the transaction, both buyer and seller were able to make the deal happen. After that experience, Lisa and Kevin decided to create a model of full service and much lower fees to help each and every customer keep more of their equity, and the seed of the REALean concept was planted.
Lisa explains further: “This model helps a seller properly price the home. A more competitive asking price, based on statistical market data, enhances the home’s attractiveness to buyers. Combine proper pricing with massive marketing exposure, these homes sell faster and often have multiple offers.” Yet, sellers aren’t leaving money on the table. REALean has set new price records in many neighborhoods and condo buildings where they’ve sold homes. In fact, they sold the most expensive condo of its size in Harbourside in 2015, and the most expensive home in Treasure Island in 2016 (for $1,895,000, saving that seller $56,000) among hundreds of other successes.
“We wanted to create a real estate company that could be efficient enough to charge lower fees and it was also important to us that customers receive the very highest level of service and the most marketing exposure possible.”
“We are inspired by Southwest Airlines, Wal-Mart, Uber & Lyft… we charge lower fees, do more volume, and enjoy greater success.”
“Strive not to be a success, but rather to be of value.” – Albert Einstein
As a real estate industry executive, Kevin had focused on recruiting, coaching and retaining Realtors. Yet for the first two years, he refused to allow agents to join him. He explains: “Lisa and I were beta-testing our concept, and we thought it would be very successful. Yet, I was not comfortable asking agents to join me until I knew they could have great success with our model. In the past 18 months, we have added agents to our brokerage and the results have been amazing. Our average savings for a home seller is around $7,000. Our agents have opportunities that they otherwise would never have, because the sellers want to save money while getting full service help. Happy customers pass along the good word!”
Those agents agree. Jared Salzman explains that “REALean’s common sense commission structure puts clients ahead of commissions, which in turn helps me get more clients and more commissions.”
Another agent, Karen Nasello, agrees, saying “Real estate is all about serving our clients, bringing buyers and sellers together, and as a Realtor for over 16 years, I feel the REALean concept truly has the clients’ best interests in mind and just simplifies the process of selling!”
REALean utilizes innovative platform technologies to provide training to their network of agents, and to consumers too. They have an extensive library of YouTube videos, online courses, webinars, and even do one-on-one consultations via Skype and FaceTime. Lisa’s CPA background can help customers with foreign tax issues, capital gains advice and help to defer income tax for property sales through 1031 exchanges. In recent years Lisa has been interviewed by reporters for articles in Money Magazine, Realtor.com and the print edition of the Wall Street Journal.
Now, REALean will be selling franchises across the United States. Kevin and Lisa were approached in November 2016 by a franchise development company who saw what they were doing in the real estate industry, and wanted to franchise REALean’s uniquely better concept. They have completed the Federal Trade Commission legal paperwork and REALean is now a registered franchise in 39 states, and will be registered in all 50 states in early 2018. A broker-associate working at another company can open a REALean office for less than they typically pay each year to their current broker. Consistent with the REALean higher purpose approach, these franchisors will enjoy low initial start-up costs, and the lowest royalty fee in the industry, so that they can have greater success while helping sellers save more of their hard-earned equity. Clearly, REALean will be making a national impact.
Kevin and Lisa are writing two books to help consumers and agents navigate their way through real estate transactions. Get Real: Savvy Tactics for Home Sellers and Home Buyers and The Best Option: A simple framework for better decisions leading to more success and making the most of every opportunity. Their “Best Option” approach makes a lot of sense. Lisa explains: “The question is always this: Are you the best option? When a property is priced too high, as compared to what is selling in a particular market, the buyers will just keep looking. Buyers are looking for the best option for themselves. If they compare properties to one another, the best option will show through and that is the home that will get an offer. While location, condition, and updates matter, it is always about the price! We believe that we give great counsel to our sellers regarding pricing, and our lower fees make it much easier for a seller to get the most money at the closing table!”
To learn more about REALean, you can call Kevin and Lisa Cahill at 727-755-1995, you can email them at Kevin@REALean.com or Lisa@REALean.com, or visit them online at www.REALean.com
Story by Peter A Roos