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Sharran Srivatsaa, President of REAL Brokerage, LLC, is a distinguished real estate entrepreneur and advocate for employee ownership, who has a unique perspective shaped by his personal journey from India. His perspective on real estate entrepreneurship, mindset, and employee ownership is deeply rooted in the power of partnership and collaboration, as evidenced by his strong alignment with Tamir, the founder of REAL. Sharran believes in creating a career-based financial incentive system for agents, rather than solely focusing on sales, to foster a deeper bond between the company and its partners. This approach, he believes, can lead to long-term success and loyalty. His experiences and the influence of his extraordinary parents have shaped this perspective, making him a strong advocate for a coachable mindset and personal growth. Join Bill Risser and Sharran Srivaatsa on this episode of The Real Estate Sessions podcast to delve deeper into these insightful perspectives.
Guest Bio
Sharran Srivatsaa is a real estate entrepreneur and advocate for employee ownership, with a strong focus on mindset and personal growth. Born in India, Sharran's journey to success was not without its challenges. He faced ridicule and bullying, but he persevered and developed a coachable mindset. Sharran's willingness to learn and seek guidance has been instrumental in his achievements. He credits his extraordinary parents for shaping his exceptional outlook on life. With a deep appreciation for the effort and commitment required to succeed, Sharran is dedicated to sharing his knowledge and experiences with others, creating a positive impact in the world of real estate entrepreneurship.
Connect with Sharran
www.instagram.com/sharransrivatsaa
https://www.linkedin.com/in/sharran/
Time Stamped Outline
(00:00:00) Inside the Minds of Real Estate Leaders
(00:06:03) Sharran's journey from India to Wall Street
(00:13:52) The Power of Minimalism and Efficiency
(00:19:08) Business School: A Catalyst for Career Transformation
(00:23:57) The Power of Continuous Skill Development
(00:27:58) Transforming a Small Operation into a Thriving Empire
(00:34:00) ESOP Model: Sharing Rewards for Team Success
(00:38:06) Prioritizing and Achieving Greatness in Life
(00:42:52) The Transformative Power of Mindset
(00:47:50) REAL's Innovation in the Real Estate Industry
Detailed Outline
00:00:00 - Real Estate Sessions podcast
The Real Estate Sessions podcast, hosted by Bill, offers listeners an inside look into the world of real estate through interviews with industry leaders. In episode 370, Bill sits down with Sharran, the president of Real Brokerage LLC, to discuss his experiences and insights in the field. Sharran emphasizes the importance of mindset, stating that "the problem is not the problem, the problem is how you think about the problem." He also highlights the mission of REAL Brokerage LLC, which is to serve and work for their agents. The podcast provides a platform for industry professionals to share their stories and journeys, offering valuable insights and inspiration to listeners. With a focus on real estate leaders and their perspectives, the Real Estate Sessions podcast is a must-listen for anyone interested in the industry.
00:06:03 - Tennis career
Sharran's tennis career began at a young age when his parents saw his potential for a brighter future. Encouraged to pursue an individual sport, tennis became his path to success. He started lessons at 9 or 10 and his family prioritized supporting his journey to the pro tennis tour and leaving India. However, Sharran's dream of playing college tennis was shattered when he realized turning pro meant losing his eligibility. Undeterred, he decided to play Division III tennis and earned an academic scholarship at Luther College in Iowa. Despite challenges and cultural shock, Sharran's tennis career paved the way for his future endeavors, including working in the tennis industry and transitioning to Wall Street.
00:13:52 - Roger Federer's Biomechanical Efficiency
Roger Federer's biomechanical efficiency has captivated many, including Sharran Srivatsaa. Srivatsaa believes Federer is a true gift to tennis and attributes his success to his unmatched biomechanical efficiency. Unlike other top players, Federer's effort to result ratio is smooth and efficient, allowing him to play for over 20 years with minimal injuries. Srivatsaa sees a valuable lesson in Federer's approach, applying it to the business world. He emphasizes the importance of minimalism, simplicity, and efficiency in achieving success, encouraging individuals and teams to create a "not to do" list and focus on what truly matters. By eliminating unnecessary tasks and focusing on their goals, individuals can increase productivity and achieve success. In summary, Roger Federer's biomechanical efficiency serves as a powerful example of how minimalism and efficiency can lead to success in sports and business.
00:19:08 - Business School as a Track Shifter
Sharran, a successful entrepreneur and former Wall Street banker, shares how business school became a pivotal point in his career. After a successful exit from his startup, Sharran found himself unsure of his next steps. His mentor, who had previously doubted his chances of success, encouraged him to attend business school to gain deal structuring experience. Recognizing the opportunities and unique story that business school could provide, Sharran began searching for the right school. Ultimately, he chose a warm location with a feeder to Wall Street, setting the stage for his future success. Business school became the catalyst for Sharran's career transformation, allowing him to combine his technology and hospitality experience with deal structuring skills and pursue any path he desired.
00:23:57 - Meritocracy and Building Skills
Meritocracy and building skills are key factors in achieving success, as Sharran discovered during his time at Goldman Sachs. By constantly seeking to learn and improve, he was able to skyrocket his career by asking for guidance and mastering new skills. He emphasizes the difference between ability and capability, with the latter being the result of developing skills and expertise. Sharran believes that humility comes from recognizing the gap between ability and capability and actively working to bridge that gap through coaching and mentorship. He credits his success to the concept of meritocracy, where individuals who possess valuable skills have a competitive advantage that is difficult to take away. In summary, Sharran's experience highlights the importance of continuously building skills and expertise to thrive in a meritocratic environment.
00:27:58 - Scaling a Real Estate Business
Scaling a real estate business can be challenging, but Sharran shares his remarkable journey of transforming a small operation into a thriving empire. With a bold vision in mind, Sharran proposed taking the business from $300 million to $3 billion in just three to five years. Despite initial skepticism, Sharran's strategic plan and relentless dedication led to unprecedented growth. Under his leadership, the company expanded from one office and 30 agents to an impressive 22 offices and 700 agents. This achievement ultimately led to the successful sale of the business to Douglas Settlement, with annual sales reaching $5 billion. Sharran's secret to success lay in fostering a culture of performance, where agents were skilled and constantly honing their craft. By prioritizing skill development and creating a career-based financial incentive system, Sharran built a team that achieved outstanding results and fostered a deep sense of love and loyalty.
00:34:00 - ESOP Model and Employee Ownership
Sharran is a strong advocate for the ESOP model and employee ownership. He is committed to building a business that benefits everyone involved. His experience at Telus, where only a few partners profited while the agents who helped build the company received nothing, motivated him to prioritize the ESOP model. He believes that every individual who contributes to the business should share in the rewards, even if it means a minority share. Sharran also emphasizes the importance of aligning the business plan with potential buyers' models each year to ensure the company's valuation and readiness for acquisition. His ultimate goal is to transform a sales business into a career, offering financial incentives that foster love and loyalty among team members.
00:38:06 - Work-Life Balance
Sharran discusses work-life balance and shares his personal experience and strategies for maintaining it. He emphasizes the importance of prioritizing and doing fewer things to achieve greatness. Sharran avoids watching the news, sports, or engaging in activities that don't align with his priorities. Open communication with his family is crucial, ensuring their understanding and support for his work commitments. He also resonates with the phrase "be where your feet are," reminding him to be fully present. Sharran's insights offer valuable perspectives on work-life balance.
00:42:52 - Importance of mindset
In the realm of personal growth and success, Sharran sheds light on the significance of mindset. Drawing from personal experiences, he shares a valuable perspective on the power of having a bigger and better future. As a child, he initially dismissed his father's words, but as an adult, he now understands their profound meaning. Sharran also opens up about his struggles with undiagnosed ADHD and the societal stigma attached to it. Through his story, he emphasizes the importance of disclosure and how it can be disarming. In summary, Sharran's insights highlight the transformative impact of mindset and the need to be present in the moment, both personally and professionally.
00:47:50 - The rise of REAL
The rise of REAL is driven by their significant progress in building infrastructure and derisking their business. According to Sharran, it took them three years to expand into all 50 states and four major Canadian provinces. They consider what they have built so far as table stakes, the baseline required to run a successful business. However, they acknowledge that there is still more to be done. REAL is now focused on connecting consumers to the real estate transaction and reducing the pressure on agents by utilizing AI technology, such as their AI assistant called Leo. Additionally, they aim to transform real estate from a sales business into a career for agents, providing them with financial incentives and stability beyond just selling homes. In summary, REAL's rise is not just about their accomplishments, but about their ongoing efforts to innovate and improve the real estate industry.
