As the world changes rapidly, industries must also change the way they do business. Unfortunately, the real estate industry has been one of the slowest to adapt to the needs of modern culture. Mike “Tate” Tetreault found success when he started as an agent. But he could not ignore the outdated practices of the brokers he did business with. So he created The Tate team, its independent real estate brokerage to revive the industry.
As an agent, Tate noticed that there was a serious lack of creativity and action, as the brokers he worked with were too afraid to take risks, clinging too tightly to tradition. He really didn’t see the need for an office, as most interactions with customers took place in the property they owned or wanted to buy. As a result, the Tate team operates like a virtual brokerage house. “So this is where I saw a great opportunity for disruption and change in the industry… Once COVID hit, it only reinforced my idea of making my brokerage 100% virtual” , explains Mike “Tate” Tetreault.
Tate doesn’t allow anyone to lock him up. From school to peer pressure, authority figures and work, he has always been a creative and free thinker. Tate always knew he would create his own success, rather than working a 9 to 5 for someone else. Paving the way for real estate agents is the best way for him to live out his vision. White baby boomers and Karen people dominate the real estate industry, creating obstacles for a younger generation of unsuccessful, unprivileged agents. But Tate is changing this shift in power. He is a team of dynamic agents from various backgrounds. “We’ve had enough, and the Tate team is a breath of fresh air in the brokerage world. My goal is to expand into as many markets as possible, start the conversation and show the industry modern ways to be successful, ”said Mike“ Tate ”Tetreault.
In today’s society, attention gives you money and power. That’s why Tate believes that attention in business will get you further than an Ivy League education ever can. Textbook marketing methods can only get you this far, and if you don’t put your personality in it, you’ll be boring. And no one likes to be bored. That’s why Tate pays the brightest minds to keep innovating. He’s always looking for a better way to do things and looks to the next step. “My goal has always been for you to take me or any of our agents, drop us off in a random state somewhere we don’t know anyone, and we could still generate tons of business, no problem,” explains Mike “Tate” Tetreault.
The Tate team is distinguished by the fact that it is a 100% sole proprietorship. Tate never wants to compromise his vision by allowing outside influence, so he doesn’t have a business partner or franchise to lead. He also doesn’t have any loans or other debts, so it’s all on him. To raise funds, he does things that may seem risky to strangers, but he believes in betting on himself and he trusts his agents. Tate has raised money by taking whatever is earned each month and constantly reinvesting it in the business. He continued to do this for a long time without taking a profit. But for him, it was worth keeping full control over all aspects of his business.
Tate refuses to let anything dilute the culture he builds within the Tate team. By shaking up the current real estate business model, Tate plans to give a younger and diverse group of agents the chance to succeed they deserve. You can follow Tate on Instagram @theofficialtate.