When Oren and Tal Alexander, mega-selling agents known as The Alexander Team, left Douglas Elliman last June to co-found a new brokerage, they made a promise to approach the real estate industry differently. Now, their new firm, Official, is introducing a new model for growth through the launch of Prodigy—a data-driven, invitation-only recruitment tool that evaluates potential talent for the company amidst the vast number of real estate agents in the United States. Official is focused on residential real estate deals for ultra high net worth clients, including prominent Hollywood figures.
The Prodigy tool, spearheaded by Official co-founder Nicole Oge, aims to identify agents who have the potential to achieve significant sales in their careers. Unlike other brokerages that measure their success by the number of agents and offices, Official focuses on finding the highest caliber of agents. The brokerage’s listings reflect this focus, including properties like former WeWork co-founder Adam Neumann’s NYC penthouse priced at $32 million and a $69.5 million property in Malibu called the Cantilever House. With sales totaling over $8 billion in their careers, the Alexander brothers have represented renowned clients such as music producer Timbaland, model Adriana Lima, designer Tommy Hilfiger, and hedge funder Ken Griffin, whose purchase of a penthouse in New York for $239 million remains the most expensive residential real estate deal ever in the U.S.
Prodigy utilizes proprietary tools developed by Official to evaluate potential candidates. One such tool is the Prodigy Score, which measures an agent’s business performance relative to their peers in the same market and with the same tenure. Another tool is the Scouting Report, which provides an overview of specific performance metrics, helping agents identify their strengths and weaknesses. Through a rigorous interview process combined with these reports, Official gains a deep understanding of the candidate’s potential and the areas of focus required to optimize their business.
Official is part of a wave of high-profile luxury brokerages that have emerged in recent years, each aiming to carve out a unique position in the marketplace. Examples include Carolwood Estates and AKG Christie’s in Los Angeles, Ryan Serhant’s Serhant in New York City, and Hedgerow in the Hamptons.
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The launch of Official’s talent identification program comes at a time of notable disruption in the residential real estate industry. The National Association of Realtors reported that over 60,000 agents left the business in the preceding six months due to a housing market slump caused by high interest rates.
Official currently lists 41 agents on its website across its five markets in New York City, the Hamptons, Miami, Los Angeles, and Orange County. Agents who qualify for the Prodigy program must have a minimum of three years of experience in real estate sales, generate at least $12 million in annual sales volume, have an average price point exceeding $500,000, and complete at least five transactions per year.
Overall, Official’s Prodigy program offers a fresh approach to talent recruitment in the luxury real estate market. By focusing on quality over quantity, the brokerage aims to identify agents with potential for extraordinary sales success and provide them with the necessary tools and support to thrive in the industry. With their new model for growth, Official is set to attract top talent and solidify its position as a leading player in the high-end residential real estate market.
