In the wake of the recent NAR ruling, which many predict will cause agent commissions to fall by as much as 30%, the Voro model is poised to become an increasingly popular alternative to traditional brokerages. As we covered in our last piece about the real estate technology company, Voro’s subscription/membership brokerage allows agents to keep their entire commission while still having access to all of the logistical, legal, and analytical services that come with the largest players in the space. TRD sat down with two agents who left traditional brokerages and joined Voro to build their businesses on their own terms.
The Top Homebuying Influencer
Stacie Rihl has carved out a unique niche in the real estate world with the help of Voro. The referral agent teaches first-time homebuyers how to navigate the process, and her 117k-follower Instagram page is a treasure trove of knowledge and resources.
When she launched her business two years ago, Rihl was working at a big brokerage and “paying out a lot in monthly fees.” So she began investigating non-traditional brokerages.
When Rihl started her business two years ago, she was at a big brokerage, burdened by high monthly fees and too much micromanagement. This prompted her to explore alternative brokerage models, leading her to Voro, a premier digital real estate company that offers agents the support, independence and flexibility they need to succeed.
“I just wanted to hang my license and run my business,” she explains. “When I came across Voro, I thought, ‘This seems too good to be true.’”
After speaking with Voro Founder Daniel Shamooil about the real estate company’s business model, Rihl “took the leap” and joined.
“It’s allowed me to reinvest in my business,” she says. “With the money that I’m saving going with Voro, I’ve been able to hire an assistant, I’m able to work out of a WeWork, and I can invest in the things that I want to invest in.”
Rihl is the perfect example of a Voro agent who just wants to pursue their business without the hassle and expense that comes with being part of a traditional brokerage. As Shamooil notes, Voro has given Rihl the opportunity to flourish.
“Stacie is one of the top producers in the company,” he says. “There’s no one else who does what she does, and she’s in a complete class of her own.”
The Leading Long Island Team
On the other end of the Voro spectrum is Team Raj Jaggi, which has been the number one listing and buying team in Nassau County for five years running. Raj and his son Rahul Jaggi started their real estate team together seven years ago, and quickly hit a wall working for a traditional brick and mortar brokerage.
“We realized that it wasn’t scalable,” explains Rahul. “We were giving 10% off the top, plus monthly fees and all that. That’s when we found Voro, and it became clear they offered a smarter, more sustainable way to grow our business.”
They ended up switching over to Voro in the midst of the pandemic. In their first year of working with Voro, Team Raj Jaggi was able to pocket $300,000 in commissions that would otherwise have been paid to their previous brokerage, money that the brothers were able to reinvest back into their business. The Team Raj Jaggi model, which is centered around the motto ‘Your Home Sold Guaranteed or I’ll Buy It,’ involves a high expenditure on ads of all kinds.
“There’s a lot that goes on when it comes to listing with Team Raj Jaggi,” explains Rahul. “Where Voro helps is that it gives us a bigger cut to invest more for the client and help them achieve and get more money in their pocket.”
The Team was also able to buy their own building just off the LIRR in Hicksville, which not only helped them grow their business but also serves as an appreciating asset. They also began implementing additional incentives for working with Team Raj Jaggi as a buyer, from a free heating, cooling, and electrical warranty for a year after purchase to a buyback guarantee.
All of these services, plus the team’s energetic marketing strategy, has kept them at the top of the Hicksville and Nassau markets as they’ve scaled up. Since joining four years ago, both Team Jaggi and the Voro have more than doubled in size.
“The biggest benefit of working with Voro is the independence,” says Rahul. “Our motto, ‘Your Home Sold Guaranteed or I’ll Buy It,’ some brokers are a little wary of that. But Danny rolled with it. He said, ‘If it works for you, I’ll be there to support you.’”
In fact, Team Raj Jaggi has pioneered the creation of miniature teams within their larger team, taking the concept of scaling to a whole new level.
“Name another company that would even permit such an action?” asks Shamooil. “That allows for scalability at the Jaggi’s organizational level, and that also helps us at the brokerage level.”
Whether they’re a solo agent, referral agent, or a team, Voro’s model frees agents from onerous commission splits, and provides freedom, and independence, whilst simultaneously providing for the ability to build their business how they see fit while still benefiting from a robust stable of support & premier services.
Learn more at voro.com.