8z Realtor Career FAQs
We know joining a new company always comes with questions, so we’ve compiled a quick FAQ for you to reference as you begin looking at possible 8z opportunities. If you feel 8z matches your career goals and fits the cultural environment you’d like to work at, then it’s time to join us! See below for more information.
Frequently Asked Questions:
- Section 1: Culture
- What is 8z?
- Why does 8z exist?
- What do you mean by, “real estate is broken”?
- How is 8z fixing real estate?
- Is 8z one of those companies with “core values”?
- Section 2: Brass Tracks
- How successful are 8z Realtors?
- What is the 8z system?
- Where do you have offices?
- Do you provide admin support?
- What’s your commission plan?
- Are there other fees?
- What’s the process to become an 8z Realtor?
- Do you franchise?
- Do you allow couples teams?
- I heard you are now only hiring Realtors to join teams. Does that mean team members work for their team leader?
- The stats you cite about 8z Real Estate average productivity ($8.1 million in volume, 25 sides) seem impossible to believe. Are you just making those up or somehow manipulating the numbers?
- When I check you guys out in the MLS, I get different numbers than you claim. Explain that.
- Selling $10 million each year is a lot of hard work. Do 8z Realtors have any fun or do they just burn out?
- Why wouldn’t someone want to join 8z?
Section 1: Culture
At 8z we take culture very seriously so we hope you’ll read this carefully. But, if you want to get straight to our commission plan and other details please scroll down to Section 2: Brass Tacks.
What is 8z?
8z is the brokerage that’s committed to elevating the status and practice of the real estate profession, building communities one Realtor at a time.
We are built from the ground up to allow Realtors to focus on the art of helping clients buy and sell real estate. Our 8z System, supported by in-house technology and marketing teams, empowers our Realtors to become leaders in their neighborhood markets.
Why does 8z exist?
Unfortunately our industry just doesn’t work the way it ought to, which is a bad deal for consumers, Realtors, and brokerages. Some of the major problems are:
- There are too many semi-professional Realtors, frequently lacking skills or integrity, resulting in a negative consumer perception of Realtors. We all know the stereotypes, and too often they are accurate.
- There is a lack of transparency around the inventory of for sale homes, pricing, and the transaction process.
- The transaction process is time consuming, confusing, unpredictable, and therefore stressful for all involved. Couldn’t it be easier?
- The pace of innovation is slow. Besides listings becoming available online, what real improvements have occurred in the past 30 years?
- The commission pay structure misaligns Realtor and consumer interests. There are lots of instances where consumers pay too much commission or the Realtor is paid too little for their expertise and time.
- We hire only the most professional and ethical Realtors.
- We provide our customers the best available listings data through our website, and we employ Realtors who provide context to the raw market data.
- We manage client advocacy programs that look out for our clients’ interests and improve the level of service they receive.
- We invest in technology and other innovations that create efficiencies in the transaction process.
Absolutely. Everyone at 8z is expected to adhere to the 8z Core Values. These are living, breathing values that guide us in all aspects of our business. Far from being a burden, the Core Values make decisions much easier by clarifying alternatives. They are the lens through which we view the world.
The 8z Core Values are:
- Clients First: We put our clients’ interests above our own. Whatever the situation, asking, “What’s best for the client?” is a reliable way of arriving at the correct decision. Note, this is sometimes at odds with what’s best for the Realtor (at least in the short run).
- Helpfulness: Our default setting is to offer help. We don’t let our egos get in the way of doing our best to serve others with a sense of humility.
- Transparency: We strive to provide home buyers and sellers as much information as possible about the inventory, specific properties, and the transaction process. We are open about what we do and why we do it. We don’t keep secrets.
- Integrity: Very simply, we do what we say we will do. Customers have high standards for trustworthiness, and we work hard to surpass those expectations.
- Respect: We are professionals and, as such, treat our colleagues and clients with respect and courtesy. Unprofessional behavior, such as yelling at a teammate, is simply not tolerated at 8z. Communicating with a client in a disrespectful manner is an unforgivable “cardinal sin” that will result in being asked to leave the team.
And lastly, here’s our Manifesto. We believe:
- Real estate is more about people and relationships than it is about houses and transactions.
- Real estate is more about living and building community than it is about investing and making money.
- The real estate process should be more transparent and less confusing.
- Being a real estate professional is not a hobby for part timers and amateurs.
- Some Realtors get paid too much for the value they provide.
- Some Realtors are great. They add value and earn what they are paid.
- Buyers and sellers deserve the help of great Realtors for one of life’s biggest decisions.
- Great Realtors put their clients’ interests before their own. Clients before commissions.
- Great Realtors know their local neighborhood markets inside and out.
- Great Realtors earn the trust of their clients and give valuable advice and counsel.
- Great Realtors give back to the neighborhoods they serve and are community assets.
- Good is the enemy of great. Settling for good can keep you from becoming great. We hope other Realtors and brokerages join us in raising the bar of professionalism in real estate.
Section 2: Brass Tacks
The 8z System is real lead generation delivering to every 8z Realtor leads worth millions of dollars of sold real estate annually. At a high level it consists of:
- Exclusive 8z farm territories – meaning we’ll never have another 8zer in your neighborhood
- Unmatched Internet presence promoting our Realtors.
- Personalized newsletters and postcards mail sent on our Realtors’ behalf.
- Turnkey social media marketing provided by our expert staff.
- A world class Client Care team that helps and qualifies customers seven days a week.
- Career development including business planning, coaching, and training.
Can you be more specific about what you offer?
Here are the nuts and bolts of our in-house programs:
- Becoming an 8z Realtor comes with a subscription to zavvie, a website designed to facilitate a Realtor’s digital farming efforts. zavvie pros are given access to the zavvie platform, allowing them to directly connect and engage with homeowners in their assigned farm.
- Through zavvie, 8z Realtors receive digital and print marketing services, including direct mailers to their farm neighborhoods, a personal profile page on zavvie.com, content marketing, email marketing, and monthly paid advertising on Facebook.
- 8z Realtors also receive monthly coaching sessions with a zavvie Success Manager.
- Each quarter, postcards with a strong message to connect are automatically created and sent to all addresses within each Realtor’s exclusive farm.
- Farm email newsletters are automatically created and sent each month. Click here for an example. Note the farm newsletter is distinct from the sphere oriented email newsletter.
- 8z provides matching funds up to $250 for a total of $500 each year to support any community program you choose within your farm territory.
- 8z’s unmatched online presence promotes each Realtor as the local market expert. We make sure 8z Realtors are highly visible all over the internet, including personal websites, social media pages, listing portals like Zillow and Realtor.com, and Yelp. All are maintained and updated by the marketing team, allowing 8z Realtors to focus on helping their clients.
- Internet leads from 8z’s various sources fulfill each Realtor’s business plan, typically about 30% of a Realtor’s sales volume. All internet leads are carefully qualified by the Client Care Team before being referred to 8z Realtors, resulting in higher quality contacts and a closed conversion rate of 15-20%, far above industry averages.
- 8z sends “Client Appreciation Postcards” to past clients and everyone you designate from your Sphere database snail mail list. Click here for an example.
- 8z creates and maintains personal websites for each Realtor. Click here for an example.
- 8z provides an array of off the shelf closing gifts including branded house keys, wine, and local experiences.
- 8z creates and sends a monthly email newsletter to everyone in your Sphere database including all the Internet referrals we send to you. Click here for an example.
- An expansive Closed Client program to keep you in touch with your past clients
- 8z sends Just Listed postcards to the 100 nearest addresses for all new listings. Click here for an example.
- Our highly effective Preview Listings program showcases listings prior to MLS entry, reducing time from listing to close by 40%.
- High quality print and digital flyers through Studeo. Click here for examples.
- Interactive 3D Virtual Tours. Click here to see.
- Targeted social media ads for all previews, digital flyers, and 3D tours.
- Featured listing placement on our sites, as well as all major real estate sites (Zillow, realtor.com, Trulia, Homes.com).
- Annual business planning and goal setting
- Quarterly coaching
- Individual office teams conduct periodic training
- 8z provides monthly training reinforcing the 8z System and Ninja Selling
- 8z holds an annual 2-3 day training conference
- 8z provides 2-3 continuing education programs each year
In Colorado: Arvada, Aurora, Boulder, Castle Rock, Colorado Springs, Denver Central, Denver Art District, Estes Park, Evergreen, Fort Collins, Littleton, Longmont, Louisville, Loveland, Parker, and Windsor.
Each of our offices is supported by a full time Administrative Coordinator whose role is to increase Realtor productivity and enhance service to clients. Our Administrators focus on transaction coordination and marketing support. The Client Care team is also available for support 7 days a week.
What’s your commission plan?
Click here for our commission schedule.
Are there other fees?
1. Submit the questionnaire (click here for our questionnaire).
2. We will contact you to schedule interviews with:
- The COO Stefan Peterson
- The appropriate Team Leader
- The CEO Lane Hornung
We believe clients are best served by a single Realtor, not husband and wife (or other) teams that create multiple points of contact for the client. We are fine with couples who keep their clients separate.
I heard you are now only hiring Realtors to join teams. Does that mean team members work for their team leader?
No. All 8z Realtors are independent, standalone agents conducting their own business, including listings. We use the term “team” because we have a culture of collegiality and teamwork. Most brokerages would refer to one of our teams simply as an “office.”
The stats you cite about 8z Realtor average productivity ($7.9 million in volume, 21.2 sides) seem impossible to believe. Are you just making those up or somehow manipulating the numbers?
No. We are as rigorous as possible in how we calculate and communicate our sales results. Our production figures are based on all licensees who completed the previous full calendar year with 8z. We can’t think of a more fair way to do it – if you can, let us know!
When I check you guys out in the MLS I get different numbers than you claim. Explain that.
We operate in four different MLSs (Metrolist, IRES, PPAR, and MLSListings), which makes it complicated to piece together our total production.
Selling $10 million each year is a lot of hard work. Do 8z Realtors have any fun or do they just burn out?
Burning out is not consistent with sustainable success. A key concept at 8z is what we call the “Real Estate Good Life,” which is:
- Clients who adore you
- A healthy gross income
- A big net income
- Time for a life outside real estate
The 8z System allows Realtors to achieve all four of those goals, including supporting Realtors so they have time for a life outside real estate. Some 8z Realtors who have achieved the $10 million level are more focused on increasing their leisure time than on growing their business. We think that’s great.
The main reason is that we are a lot more structured than other brokerages. All 8z Realtors fully “plug in” to the 8z System and are expected to engage in all of our marketing programs. If you want to be a lone cowboy riding the range of real estate doing it all your own way, we are not a good fit.