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Leading Lake Norman Real Estate Firm, Lake Realty, Joins Canzell

PRESS RELEASE - Oct 20, 2021 07:00 EDT

Transition Provides Added Benefits and Growth Opportunities for Lake Realty's Agents and Clients

- Oct 20, 2021 07:00 EDT


Lake Realty, a local Lake Norman real estate firm serving clients for 30 years, today announced it has joined forces with emerging national real estate firm CanZell Realty. Moving forward, the company will operate as Lake Realty powered by CanZell. Led by founder and broker-in-charge Frank Free, Lake Realty has been approached by large firms and presented numerous equity/shared revenue models throughout the past three decades but remained independent. Frank and his team were impressed by CanZell's focus on agent success and leadership, which provides each agent with a local broker-in-charge and a group leader who they can turn to for help. As a result, this agent-centric model benefits the agent independent of the equity and revenue opportunities. 

"By moving over our entire firm, we are able to provide our agents with the best technology and an excellent commission structure while maintaining our office culture and leadership role," said Frank.

Chip Free, agent leader at Lake Realty, has witnessed many changes in the real estate workplace, especially in recent years. In today's climate, there is a desire among agents to have additional revenue opportunities outside of the traditional real estate firm structure. However, most agents work as individual contractors without access to career benefits like 401K plans.

"By switching to an equity/shared revenue model, our agents can earn equity in the firm as it grows and share in the revenue generated by any agents they bring into the firm," said Chip. "This, in turn, helps traditional firms and large teams by incentivizing agents to stay with the firm—thus breaking the cycle of training up agents and having them leave once they gain enough experience."

While equity/shared revenue models have been around for many years, CanZell improves on past models in several ways. First and foremost, CanZell's focus on leadership for the agents benefits their career growth and their client service. Though emerging real estate technologies are necessary and important, real estate remains a people-focused business. With CanZell's model, the human relationship between the broker-in-charge, the agent leader and the agent remains in place. Furthermore, CanZell's shared revenue component is designed to make earnings obtainable by most agents, not only the large team builders. Finally, CanZell prioritizes charitable giving, donating 10% of their commission from each closing to one of many charities based on the agent's preference.

"While it's a big step to make this transition after being independent for 30 years, the resources that CanZell brings to the table make it clear that it is the right timing for this change," said Frank. "Not only are we thrilled to offer our agents a ground floor opportunity with a firm that operates in 16 states and is expanding, we are also delighted to have CanZell furnish and maintain the entire backend of our operation. This will allow us to focus on what's most important - our agents and the clients they serve."

To learn more about CanZell or Lake Realty, visit http://mycanzell.com/lakerealty or reach out directly to Chip Free at 704-806-2410 or chip@lakerealty.com.

About Lake Realty

Lake Realty, based in Cornelius, N.C., has helped clients buy and sell their Lake Norman properties for 30 years. Led by company founder and broker-in-charge Frank Free, Lake Realty is proud to have 35 brokers who are knowledgeable of all Lake Norman towns, including Mooresville, Cornelius, Huntersville, Davidson, Denver, Statesville, Sherrills Ford and Troutman. Lake Realty's commitment to the families it serves has helped the company secure more five-star Google reviews than any other local real estate firm. For more career information, visit http://mycanzell.com/lakerealty.

About CanZell Realty

CANZELL Realty®, is a full-service real estate brokerage providing non-stop access to skilled training, top-of-the-line resources and collaboration for brokers and agents. Founded in 2005, it rapidly grew from a single, local office in Virginia Beach, Virginia to multiple offices, becoming recognized as an Inc. 5000 fastest-growing company for many years in a row of its inception. For more information, visit https://canzell.com/.

Source: Lake Realty


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