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With greater than $1B in gross sales in 17 years, the co-founders of Weinberg Choi Residential in Chicago constructed their actual property enterprise on relationships.
An Early Lesson in Homeownership
Native Chicagoan Tommy Choi has by no means taken homeownership without any consideration. As a younger boy, Tommy’s grandfather usually reminded him of one of many high causes he immigrated to america from South Korea: for the chance to personal his own residence. “He needed to place his stake within the floor,” Tommy mentioned. “He needed to say that this piece of Chicago, this piece of America, was his.” His grandfather impressed upon Tommy the idea that homeownership wasn’t a assure, however a privilege. Tommy couldn’t have guessed how this attitude would later issue into his life’s work.
A number of years after graduating from school, Tommy was at a profession crossroads. He was making good cash, however he was depressing in his day job. His inside gross sales place with a tech firm paid nicely sufficient for him to purchase his first property – a condominium the place he lived along with his finest good friend, Missouri native Josh Weinberg. Josh was working in gross sales for a nationwide homebuilder, and whereas he preferred the true property trade, the 2 usually commiserated about their day by day grind. That’s after they began fascinated with constructing one thing collectively.
Tommy and Josh already knew they made good enterprise companions. Again in school, they’d created a worthwhile autograph gross sales enterprise that funded journeys and events. They harnessed the identical entrepreneurial spirit to put in writing up a brand new marketing strategy, and by 2007, the chums had grow to be licensed actual property brokers. Preferring to construct an unbiased model, they opened Weinberg Choi Residential as a boutique brokerage and by no means thought-about becoming a member of a bigger group.
Regardless of their enthusiasm and dedication, Tommy and Josh acquired pushback from family and friends, who thought they have been making an enormous mistake getting into the true property trade in the course of a downturn. Nonetheless, the prevailing market situations supplied an surprising profit. Whereas different firms have been contracting and brokers have been leaving actual property, Tommy and Josh took up the slack, rising and constructing their community and database. “We have been on the market hustling, assembly folks, actually constructing relationships – which has been the muse from day one,” Josh mentioned.
On the outset, the companions targeted on what they knew finest: They concentrated their efforts on serving to latest school grads discover residence leases, realizing these renters would finally flip into owners. With persistence, their technique labored, and those self same purchasers referred to as again after they have been prepared to purchase. The strategy resulted in year-over-year development for the companions’ burgeoning enterprise.
Discovering A Sport-Altering Hiring Technique
Because the enterprise grew, Tommy and Josh discovered themselves sporting a number of hats – and approaching burnout. They knew they wanted assist, however as Tommy mentioned, “Once you begin to earn a living as an agent, that’s while you begin to get protecting over it.”
After 4 years, they made their first rent, and later grew to a seven-person staff. Whereas they have been doing nicely, they discovered themselves making hiring selections primarily based on favorable private impressions, moderately than on a candidate’s profession potential. They finally acknowledged they have been doing a disservice to potential expertise and to their enterprise.
Later, after becoming a member of Keller Williams® ONEChicago, they realized how essential a complete hiring technique could possibly be to their efficiency and development. They adopted Profession Visioning, KW’s four-step expertise screening course of, and by no means appeared again. Josh mentioned the deep-dive strategy to hiring has allowed them to set expertise up for achievement by positioning every individual in a task that not solely makes use of their strengths, however fuels their fireplace to come back to work every day. “Palms down, CV is the primary game-changing factor for our enterprise, which can be a game-changer for our life,” Josh mentioned. It’s what’s allowed them to scale their staff to 16 members robust.
Offering for his or her staff’s success has grow to be Josh and Tommy’s high precedence. “Our staff is tremendous essential to us. Impacting their lives and [helping] them obtain every part they ever dreamed of and extra is why we’re doing what we’re doing,” Josh mentioned.
Discovering A Clear Cultural Match
Their give attention to private affect finally led Tommy and Josh to Keller Williams. In 2016, a colleague they admired, who had simply joined a KW® market heart, invited them to take a seat right down to be taught extra concerning the firm. They have been shocked by the cultural alignment. Tommy recalled, “Once we realized extra about it … we realized Weinberg Choi was mainly Keller Williams. We have been dwelling the tradition of what KW was.” That’s after they made the choice to affix Keller Williams® ONEChicago.
They plugged into KW methods and fashions immediately. Josh mentioned, “Earlier than we joined Keller Williams, we had tried out each completely different mannequin with our staff, and we have been very, very worthwhile. However we realized we actually didn’t have a mannequin – aside from attempting each completely different factor.”
By being strategic about their new hires and following a specialist mannequin, Tommy says they added years of information to their staff with out having to take action in real-time. “And we realized that not solely might we now have an even bigger life, we might create an even bigger alternative for everybody that’s a part of our household at Weinberg Choi,” Josh mentioned.
The distinction was rapid. Earlier than becoming a member of Keller Williams® ONEChicago, Weinberg Choi was averaging $30-35M in gross sales quantity a 12 months. Of their first 12 months with KW, they hit $50M, and from 2021-2024, they averaged greater than $100M in gross sales quantity and 150-175 models offered yearly. Since their founding, the staff has offered greater than $1B in actual property and served greater than 2,000 purchasers. It’s an accomplishment they by no means imagined can be attainable for a referral-based enterprise.
Defining the Trendy Actual Property Skilled
After they made the choice to affix Keller Williams® ONEChicago, Josh recalled they did so realizing they might be capable to run their enterprise in line with their beliefs and values, and construct on the model they’d labored so exhausting to ascertain.
As a enterprise, Tommy says their differentiator is serving their purchasers as “fashionable actual property professionals.” To the Weinberg Choi staff, which means leaning into offline telephone calls, lunches, and face-to-face touchpoints, whereas additionally offering digital content material that engages their audiences and will increase their on-line visibility. From explainer movies on rate of interest shifts to mortgage fundamentals and native restaurant suggestions, Tommy says constructing a web-based fame is about creating helpful, well timed posts that construct belief with followers. For Tommy, it’s additionally about letting his persona shine via and creating real connection. The twin-pronged strategy to advertising helps them keep high of thoughts with previous and future purchasers, whereas serving as a throughline to their tradition and mission.
Tommy says he will get to honor his grandfather’s legacy with each consumer they serve. “I believe my grandfather can be very pleased with not simply what I’ve completed, however what we’ve completed as a staff, collectively,” he mentioned. “Particularly realizing the explanation why I’m within the place I’m in the present day was due to his journey right here.”
Watch the total KW Actual Property Position Fashions Weinberg Choi profile @kellerwiliams on YouTube.
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