Discount Real Estate Goes Mainstream in Northwestern Wisconsin
A single agent at a local real estate company is now outperforming nearly 99% of competitors.
According to MLS statistics,* only 12 individual agents in Northwestern Wisconsin sold more residential real estate than Michael Paul in the first half of 2009. Since there are over 1000 agents in the area, Mr. Paul has sold more real estate than 98.8% of his competitors. This is a remarkable achievement considering his business is only several years old, has no retail office location, and relies mostly on word-of-mouth, the internet, and other extremely limited marketing efforts.
The area served by the Realtors Association of Northwestern Wisconsin (RANWW) spans 22 counties across Northwestern Wisconsin. There are over 1,000 real estate agents belonging to the local Multiple Listing Service (MLS) in this area. Many of these agents, as well as the companies for whom they work, have been in business for many years.
A single agent at a local company is now outperforming the vast majority of these experienced real estate agents. Michael Paul and his clients sold homes valued at over $3.1 million in the first half of 2009.
Mr. Paul founded his company as Eau Claire by Owner LLC in 2005. In 2007 the company was renamed Discount Realty Works LLC. Prior to starting his own company, Mr. Paul had no previous professional experience in real estate.
Mr. Paul attributes the success of Discount Realty Works LLC to its unique business model, which gives clients a variety of choices when selling or buying a home. Sellers can choose to take on some of the listing tasks themselves and pay just $395 for his services. Sellers can choose to have a Discount Realty Works agent negotiate on their behalf throughout the transaction for a flat fee of $695 at closing.
Buyers who buy through Discount Realty Works LLC may be eligible for a rebate of up to 1% of the purchase price of their home (restrictions apply, see here for details).
“Basically we can offer lower commission prices and increased flexibility for our clients because we don’t have the overhead costs that other real estate companies have,” says Mr. Paul.
Michael Paul is looking forward to the 2nd half of 2009 and sees much more room for growth.
For questions or more information, please contact Michael Paul at (715) 559-2942 or mike@discountrealtyworks.com.
*MLS disclaimer: Not guaranteed. Information provided by NW WI MLS is compiled from 3rd party sources. Based on volume of residential sales from 1/1/09 through 6/30/09. Report generated on July 7, 2009.