Unsatisfied with the opportunities in his home market, George Kypreos built a fast-growing national business with an unusual hub-and-spoke model. As a broker/owner of GK Properties Headquartered in Henderson, Nevada, Kypreos serves the dynamic Las Vegas market with three offices and 57 agents. But it has also spread to other geographical areas, opening up a Realty ONE Group Edge brokerage in Atlanta, and Keller Williams company in North Carolina, as well as other agents in various locations.
“We’re all one team,” says Kypreos, whose Nevada company was one of Nation’s Best from RealTrends top performing brokerages with 1,856 transactions and $661 million in sales volume in 2021. Overall, Kypreos and partner Cheryl Kypreos run approximately 100 agents nationwide who serve both clients retail and institutional investors.
A Las Vegas native and former professional chef, Kypreos began his real estate career at Coldwell Banker over 20 years ago. He founded GK Properties in 2016 and opened a new brokerage in Georgia two years later. “I’ve long been one of the top production agents here, but Las Vegas is a very competitive market, so when I wanted to expand, I looked for niche opportunities all over the country,” he says. . “We’re providing everything from Las Vegas, hosting virtual meetings and visiting local markets in person.”
Focus on the basics
Kypreos has built a successful brokerage by focusing on the basics. “We coach our agents [on] how to convert leads and stay in front of their database, which empowers them to succeed,” he says. “I believe in the importance of hard work and accountability. Our expansion has been based on executing the fundamentals and having the right partners and team players.
Regardless of location, Kypreos has a consistent operational approach. “We buy leads and distribute them among our team members,” he says. When the company provides a successful lead, Kypreos takes the lion’s share of the commission, but the split is reversed if the agent generates a lead.
Kypreos also provides agents with internal services such as marketing, photography and transaction management support so that they can focus on their relationships with their customers. “We work with Zillow, Booming city paid, Google paid, real estate agent.com and others, as well as direct mail, trying to ring the phones and fill the mailboxes,” he says. “Our support services approach is working because we have agents doing 50 to 60 transactions a year, instead of 15 or 20 on their own. But an independent agent who can source leads and run the business isn’t quite right for us.
To maintain a common culture across all markets, Kypreos regularly holds online sessions to discuss consumer trends and marketing strategies. “We like our veterans to teach rookies, and sometimes rookies can teach veterans,” he says. “We get everyone together in the virtual pit and share phone calls about how to make the consumer feel comfortable with our services.”
Going forward, Kypreos isn’t interested in going vertical with ancillary services like mortgages or title insurance. “I didn’t want to go that route,” he says. “Instead, I want the best suppliers to earn their way with great service.”
But Kypreos wishes to develop its current markets and enter new subways in Arizona, Tennessee and Texas. “We would like to recruit like-minded agents for our team and thus increase the number,” he says. “I don’t know what the future holds, but we continue to look at the map and see many new opportunities.”