An Interview with Joe Rothchild, team leader of The Rothchild Team and broker of record for Keller Williams Signature in Katy, Texas
REAL Trends’ The Thousand No. 2 Teams by Transaction Sides
Joe Rothchild is all about finding opportunities. When he first started in 1980, he found opportunity in apartments. “I got my license sold land, but ended up working for an apartment locating company. But, “there weren’t any growth opportunities, so I started my own company—A-1 Apartments in 1982—and earned my broker’s license,” he says. “I found out that many prospects wanted a lease/purchase option, so I bought out my partner at A-1 and started Rothchild Realty.” Soon, he realized that franchises were the way to go, so he bought an ERA franchise, then eventually bought a RE/MAX franchise, which grew to 100 agents between 1990 and 2010. “I decided I wanted a concept that had training, more flexible fees and profit sharing, so I joined Keller Williams in 2010, and, with the help of the sales associates and staff, took the office from 50 to 170 associates,” he says. Rothchild just recently purchased another office that has grown to 270 sales associates.
So, what continues to drive Rothchild? Not REOs. “I chose not to get into REOs, and focus on my referral business and my geographic niche.” Instead, what drives him is the challenge of the next career phase. The only way he’s able to pursue that is to replace himself. “I continually replace myself. If you find yourself doing $5 an hour work, you’re doing something wrong. I don’t know the copier code, and I don’t want to know it,” he says. “I can’t move on until I can replace myself. So, I hired myself a secretary, a data entry person, a buyer’s specialist, until I could only work on listings.” Then, he replaced himself in that capacity as well so he can focus on a commercial development company. “My ultimate goal is 7th level,” he says, a Keller Williams career plan that will eventually phase him out of an active real estate career and provide him with passive income streams. Rothchild is also focusing on developing a real estate career out of the country—specifically in the Caribbean with Keller Williams.
He credits his drive and ambition to his desire to take care of his mom, dad and family. “I just want to make sure I have enough money to take care of my mom, dad and my kids. I realized at age 18 that I would have to support them as they got older. My dad gave me my business acumen, and my mom gave me compassion.” In addition, Rothchild’s brother, Herschel, is on his team and is a “critical asset” and “Jodi helps me run the title company. It’s all about the people.”
The other thing that drives Rothchild is comfort level. “Every real estate professional has a comfort level. My comfort level is really high, I won’t be satisfied with 10 sales if I can have 100. I’m not comfortable until I achieve my maximum goals,” he says. “Plus, I love what I do—help people. And, I love a challenge. If you call me and say another sales associate couldn’t sell your house, I’ll take it on.”
His final thought? “Hard work is good, plus being persistent and determined in my goals, letting nothing stand in my way, is what’s really important. “The only limit in life is the one we put upon ourselves.”