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After launching the boutique brokerage in 2013, co-executives Eric Walstrom and Alex Irrer join @properties Christie’s International Real Estate REMI in 2021. . In doing so, they are committed to maintaining their boutique brokerage culture and providing a high level of service to agents and clients.
According to broker owners, the industry is moving in the direction of agent quality rather than transaction-based services. Learn how they combine rapid organizational growth with a commitment to superior agent performance.
Name: Eric Wahlstrom and Alex Irel
title: Co-CEO
experience: 19 years (Walstrom), 14 years (Irrer)
Place: Michigan
Brokerage company name: @properties Christie’s International Real Estate REMI
Ranking: The sixth-largest brokerage in Michigan by sales
Team size: 189 agents
Transaction parties: 1,920
Sales volume: $1,100,000,000
How did you choose your brokerage firm?
We selected @properties Christie’s after two years of meeting with every brokerage in Michigan and out of state to understand each brokerage’s value proposition and how they would drive our agents and brokerage business growing up. The “value” of most brokerages is better deals, size/market share, or a well-known brand.
@properties The offering at Christie’s is different from the first meeting. Their first focus is on agent and customer experience. The “value” of their technology, marketing, and culture are tools that agents and our brokerages can actually use to help grow their businesses.
In the end, it was the outstanding leadership that influenced our final decision. This business is all about people/relationships and we feel very genuine comfort with the people leading the brand.
What aspects of working in real estate do you wish more people knew about?
We wish more people knew the courage and risk it takes to become a full-time real estate agent. There aren’t many careers out there that are 100% commission-based, you have to earn business every day.
What is your biggest prediction for the future?
We believe the brokerage industry will fragment into an industry similar to the current mortgage industry. One of the portals (Zillow, Realtor, Redfin, Homes.com) will undergo a massive acquisition/merger of large national brokerage franchises. When this happens, you will have a clear distinction between “portal agents” and local entity agents in terms of service levels and costs.
Tell us about an epic fail you’ve had since you became an agent
Shortly after we founded the company, we recruited an agent who did not align with our core values but was among the top performers in the market. Our failure was in not removing agents from the brokerage earlier than we did.
Top brokers hinder our growth and ability to attract other high-performing brokers. Once we finally decided to remove the agent, there was a lot of growth. We learned to protect our core values and culture above production and rankings.
What makes a good leader?
A good leader is a great listener, understands that change creates opportunity, and remains calm during major changes.
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