Thinking of joining the Rosen Family of Professionals?

New Agent FAQ's

Sitting at the dinner table in the 1970’s and 1980’s, listening to his parents talk about the family business, young Jay Rosen learned more about real estate than he could have ever learned in school. His father was an auctioneer who also sold commercial and industrial real estate. His mother sold residential real estate. At age six Jay worked his first job, finding homes in the old phonebook-style MLS books for his mother. The pay was 25 cents per home.
The Rosen family began auctioning in 1917 when Jay’s great uncle founded Rosen & Company in Cleveland, Ohio. In the 1960’s his father Stanley added the commercial real estate scope to the business. Rosen, now an adult and third generation entrepreneur, owns Rosen & Company West.

When entering the adult world, Jay had no intention of continuing the family business. “Every child wants to spread their wings,” he says. Jay pursued his passion for education and became a high school science teacher rather than auctioneering or selling real estate. “I returned to real estate because it’s what I know.”
 
In 2001 Jay moved his young family from Cleveland, Ohio to sunny and exciting Las Vegas. He landed a job combiningg his love for teaching and his background in real estate sales, teaching real estate pre-licensing classes. He fell in love with Vegas from the very first day. Within four years, Jay parlayed a part-time teaching position into establishing a real estate school for the largest brokerage in Nevada. He then took a job with an upstart brokerage. He recalls, “We built [the brokerage] into four offices and 400 agents within a year.”
 
At first with the aid of another franchise and then on his own, Jay opened Rosen & Company West, a new version of the 90-year-old family business. Jay chose Las Vegas because of its phenomenal growth potential. He points to a recent study published in USA Today, according to which Nevada’s population grew 25% between the years 2000 and 2006. By contrast, the national population grew only 6%. “See the simple reality,” says Jay, “where there is migration, there needs to be housing.”

Because he grew up in the family business, Jay operates a family-style brokerage. He explains, “All I know how to do is operate like a family.” He treats everyone in the firm as either a son, daughter, brother, sister, or parent. “Just as a child should feel free to discuss problems with a parent…I want my agents to be comfortable approaching me. I want to foster independence and competency in my agents, while at the same time conveying a sense of teamwork and cooperation, just like a family.”
Rosen & Company West now has 28 agents and continues to expand. His most recent addition is an in-house property management office. “Being in-house assures that the agent’s clients will continue to be the agent’s clients. It’s exciting!”

Jay’s background as an educator has helped his business be successful. He says, “I believe in keeping my agents educated.” To that end, Jay charges his agents a monthly education fee of $180. Agents can avoid paying the fee by documenting two instances per calendar month in which they have furthered their education. In lieu of paying the education fee, agents can attend CE classes, read an approved real estate article (which often includes articles from www.ERealEstateExec.com, implement a risk reduction plan, or attend a seminar. To date, all of his agents have chosen to educate themselves rather than pay the fee. Jay has never collected the fee, “and I hope I never will.” Jay adds, “I have best educated agents in the Valley.”

Jay preaches fiduciary responsibility to his agents, raising it almost to the level of religion. “That means bringing all your skills—and your team’s skills—to bear with every transaction.” The company motto is “If you focus only on money and success then you’ll likely achieve neither; if you focus on service to your client then you’ll achieve plenty of both.”

Jay runs a brokerage that emphasizes both family and education. His goal is to produce the most professional agents he can possibly produce. “I can’t change the world,” he says, “but I can always make my agents better.”
Jay Rosen can be reached at (702) 739-8820 or JayR@RosenandCompanyWest.com