The following interview was conducted by Al Bradshaw (Bradshaw Public Relations, L.L.C.) former editor of the Arizona Daily Star. The interview is with Donald Teel, Founder of the e-Partner Program and network concept.




- What prompted you to dream up the e-Partner Program?

- Actually, it was something that evolved as a result of seeing how business was being transacted and being willing to confess to myself that we couldn't continue to do business as usual. Two things created the need. The first was the way I saw buyers using the internet to shop and that they couldn't care less about what Company and what agent answered their questions and gave them information. The second factor was a very simple economic reality, I firmly believe that traditional residential real estate operating models are on the verge of collapse. These two issues led me to rethink and retool what I was already working on, regional real estate models.

e-Partner Interview - What is the economic reality you talk about?

e-Partner Interview Answer - Certainly, it is something as academic as simply paying the bills month-after-month but more importantly, it was the final acknowledgement that things have to change in the manner in which real estate brokerage firms make money. If you are a franchised broker, first-out money goes to the franchisor and this is typically, 3-8 percent of the gross, money that used to be the broker/owner's profit. e-Partner is premised upon the fact that we don't have to work in the manner we have been working. Technology enables us to create new revenue models, but we have to believe some very basic things.  And, if we don't believe them, we are going to be extremely frustrated owners or, I should say caretakers of agent-centric models which, if operated under the old economic principles of real estate, will eventually break down.


e-Partner Interview - Why do you insist on talking about the e-Partner beliefs and what are these beliefs?

e-Partner Interview Answer - I'm convinced that until we actually believe something we won't act, change or adopt new ways of thinking. If most owners are like me, we simply keep going, executing the requirements of our operations, devoting little time to the challenge of re-thinking what we believe, not only about the future of the Companies we own but also about the future of the real estate industry. We have four beliefs and these are irreducible minimums if one is going to implement competitive change.  Here are the beliefs:

  • We are operating from a position of economic weakness
  • We run models that won't be able to compete in the new economy
  • We function in fluid markets, not the old static, limited markets
  • We will be forced to abandon ship unless we adopt change

If we believe, and I mean "BELIEVE" in all caps, these four simple truths we can begin to implement dynamic new models that produce revenue and growth within our larger markets.

e-Partner Interview - So, what does e-Partner do for Broker/Owners that can help them?

e-Partner Interview Answer - Several things. It enables them begin to view their old static, highly limited market, usually a town or city, as an open market where they can compete through the strategic use of very simple and cost effective technology models that will attract agents, identify growth opportunities and minimize capital risk. In addition, it provides them a platform with minimal overhead and a proven model for recruiting, acquisitions, mergers and ancillary revenue streams.

e-Partner Interview - What makes up the e-Partner model?

e-Partner Interview Answer - Four things make up our operating opportunity and they don't create any threat to an existing operation.  The e-Partner opportunity provides each Broker/Owner with (1) A regional advertisement program for Sellers and Buyers within their State; (2) A marketing platform for each agent and company to be positioned throughout the State; (3) A recruiting tool for Broker/Owners and Managers, designed to attract agents in ancillary markets to join their firm; (4) Above all, e-Partner is a business development model which affords each company the opportunity to target new markets for growth, identify and enlist agents and begin extracting capital prior to making the decision to commit capital resources to the targeted markets.

e-Partner Interview - What is it that gives e-Partner its power?

e-Partner Interview Answer - In a word, technology. But we aren't a software program. As I said, we are a belief system that utilizes technology as one component of the program. We fully subscribe to Paul Zane Pilzer's premise in his book Unlimited Wealth, that technology creates wealth. The real power is discovered when we truly recognize that e-Partner is only doing what the market is already doing and saying to us as owners. I discovered that Northern Arizona was an entire regional real estate market and it was the buyers who told me as a logical result of seeing how they preferred to shop, communicate and relate to real estate companies and agents. Then, I subsequently discovered that the State of Arizona (what we call a "geo state") was a macro-market. The sad thing is, most Brokers are not playing in the whole market because they lack the time, capital and expertise to play at that level, they are too busy running their offices and companies.  We help them play!

e-Partner Interview - You mentioned some of the current problems with traditional brokerage. Are you talking about 100% commission firms or just traditional split commission companies?

e-Partner Interview Answer -  Good question.  The answer is "both?" In fact, many 100% firms aren't making it financially.  To make ends meet, it takes three to five agents in a 100% firm for every one in a traditional company. The 100% firms have discovered that the panacea isn't found in simply giving away all the revenue. As a result, what have some of the 100% companies been doing? They have been adopting split commission menus.  My point is we are all caught. It isn't about commission splits, we've already lost that battle. e-Partner is about the creation of new revenue models with extremely low risks of capital through the utilization of cost effective technology tools.

e-Partner Interview - Why should a Broker/Owner consider e-Partner?

e-Partner Interview Answer -  They should consider this because it's one of only a few operating and growth models that is squarely in the corner of the owners, not the agents. Within the e-Partner Program we do things for agents, good things, but our focus is on the Owners of real estate brokerage firms who are under tremendous pressure to compete and they receive very few offerings that focus on their needs.  The industry is focused mostly on agents, not owners, because the industry clearly understands what has happened to the economic model. Secondly, and most importantly, e-Partner  works!  When an Owner joins us they have a model for the creation of new relationships with agents, communities, other brokers and of course, the sellers and buyers. This model is a revenue model, one that can bring NEW money in the door, not simply re-shuffle the limited capital available within the company.

e-Partner Interview - What are the other issues facing broker/owners today where e-Partner can help.

e-Partner Interview Answer -  There is a reduction of selling commissions per transaction and that is destroying the necessary return on investment owners must have to survive. Another issue is the human resource issue, that is, providing training and marketing technology is taking a toll and further eroding limited operating capital. I mentioned earlier that franchisors are reaping the profits that once belonged to Brokers and if we are locked into a franchise we must find creative solutions to the relationship that will benefit both parties. Other issues include the agent's control of the client, market changes and the multiple administrative and marketing components that make up the transaction. Each of these is an overhead and must be viewed with suspicious judgment and creative thinking. Brokers are trying to do more for their agents with less capital.  And finally, we can help with a new real estate economy wherein the consumer demands immediate access to information without what they perceive to be the constraining influence of an agent. In effect, e-Partner addresses the issues that are destroying the owner's side of the business.

e-Partner Interview - Where do I sign? Or, I should ask, how does one get involved with the e-Partner Program in their State.

e-Partner Interview Answer -  It's pretty easy...just talk to us. We aren't necessarily looking for the biggest firms. We want top flight owners and companies, large, medium or small, who have been slugging it out for years and who want new opportunities to grow but are apprehensive (and we all should be) of risking too much capital.  One can start by completing the contacting us or calling us toll free at 1.877.380.1000.

You may also visit the Founder's website.