AgentBrokerage

The culture factor: Why a California broker fired half his agents

A millennial broker-owner lays out what millennial agents need from their brokerages and how they want the real estate world to change
Published on Feb 17, 2017
  • Re/Max Prestige broker-owner Sammer Mudawar likes hiring millennial agents and believes in step-by-step on-the-job training -- no classroom time.
  • He says veteran agents who market in old, traditional ways would fail in the business if they started today.
  • The California broker fired half his agents at the end of 2015 because they didn't fit his business model.
  • He believes younger agents and tech are already changing the real estate system.

Sammer MudawarBroker-owner Sammer Mudawar likes to joke that he hires millennial real estate agents because he knows they'll be alive in 10 years.In his mid-30s himself, this straight-talking broker-owner of the Re/Max Prestige office in Orange County -- which he runs with managing partner Jay O'Brien -- has a distinctly entrepreneurial approach to real estate that he thinks appeals to agents of his generation.Though the former appraiser took the independent brokerage route earlier in his career, he went to Re/Max in 2010 because, as he puts it, the industry was going through huge financial upheaval, and he was under 30."I was in an old game, and credibility was a concern, and I wanted a brand name behind me," he explained.But he is chipping away at changing this old game. He added: "We didn’t stick with the traditional Re/Max model." Thinning the herd At the end of 2015, with around 35 agents, he and O'Brien fired nearly 50 percent of their agents, bringing ...

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