Enrique Teran: Redefining Real Estate by Showcasing Innovation and Excellence

Enrique Teran
Enrique Teran | Co-founder Broker Associate

Enrique Teran, the Co-founder and Broker Associate of Avanti Way Group, is a visionary leader who is deeply passionate about challenging the status quo and reshaping the landscape of the real estate industry. With an unwavering commitment to creating unparalleled consumer experiences, he has set Avanti Way Group on a relentless quest for excellence.

Enrique’s vision is firmly grounded in the belief that the real estate industry has the potential to engage in a profound transformation that can benefit all stakeholders. He has cultivated an ecosystem in which professional agents and customized technologies collaborate to deliver value to consumers through an unparalleled experience that reimagines every facet of the real estate journey, striving to make it straightforward, simplified, and greatly enhanced for all involved. Enrique’s unwavering commitment to excellence and success serves as the driving force behind the Avanti Way Group.

One of Enrique’s key strengths lies in his ability to think outside the box and approach problem-solving with a unique perspective. He has made it his mission to break away from traditional norms and reshape mindsets within the industry.

Under Enrique’s leadership, Avanti Way Group has consistently exceeded traditional results, setting new benchmarks and challenging industry standards. His teams are driven by a shared vision to make everything easier, simpler, and more enjoyable for all stakeholders in the real estate process.

The Birth of Avanti Way Realty

Enrique’s journey into the real estate business began at a young age, as his family owned a real estate company. As a youngster, his parents always found ways to have him and his siblings participate in the business with trivial but challenging tasks that provided deep lessons on hard work, discipline, and the responsibilities of business ownership. During his college years at American Intercontinental University, during which he studied to become a systems engineer, he actively sought out ways to help the company improve. After his parents’ divorce in 2001, Enrique found himself with the desire to help his mother retire comfortably and decided to pursue a career in real estate by obtaining a real estate license in Florida. As he developed his craft by helping consumers rent, buy, and sell, and through working with investors through the complexities of real estate transactions, he noticed a significant gap in the technology and tools available to streamline the real estate process and bring immense value to consumers.

With his tech background, Enrique began his never-ending pursuit to upgrade the real estate experience. Having obtained a deep understanding with the experience he obtained transacting, he began to create a platform that would simplify and expedite the real estate process, allowing all involved parties to access documents, deposit monies, and transmit information instantly. This vision inspired him to pioneer one of the initial e-brokers in the United States during the early 2000s, when technology’s role in the real estate sector was still constrained.

Enrique encountered a significant challenge in maintaining his productivity while actively pursuing his technological dream. His objective was to streamline procedures, boost efficiency, and simplify transactions, freeing up more of his time for technology development to realize his vision.

In 2005, Enrique had the opportunity to share with his close friend, Andres Korda, the concept he was developing. Korda, an investor in real estate, had crafted his own perspective on what was needed and recognized the significance of the progress made so far. Together, they began synergizing their ideas to benefit consumers throughout the real estate closing process. By 2007, both had developed a deep passion for putting this idea into action and jointly established Avanti Way Realty, now encompassing over 1,700 agents in 14 offices across Florida and assisting more than 100,000 consumers in achieving their real estate objectives.

Enrique’s educational background in technology endowed him with the expertise and know-how to collaborate with developers, program software, and oversee the development process from start to finish. This foundation has proven indispensable in his efforts to create and improve the technology platforms employed in today’s real estate industry.

From Cell Phones to Smartphones

Enrique sees the real estate industry’s evolution in the context of technology as a significant journey, drawing parallels to the evolution of the cell phone. When he began his journey in real estate in the early 2000s, there were many similarities to the limited, analog, bulky cell phones of the 1980s and 1990s that could, at best, make calls. Similarly, the technology in real estate in the early 2000s was highly rudimental and could barely service the industry. Today, in the early 2020s, the industry is at the stage he likens to the abilities of the Blackberry era in the 2000s, which included the ability to make calls and text easily. Moreover, the real estate world enjoys various tools and applications to automate certain aspects of the real estate business, yet it often lacks the integration and seamless communication needed to truly provide the all-in-one, smartphone-era experience we live in today.

Enrique and his team at Avanti Way Realty are pioneering the process of bringing the real estate industry into the “smartphone era,” where everything is consolidated into one platform, streamlining how real estate agents work with consumers to bring value and simplification.

Additionally, Enrique recognizes the growing role of artificial intelligence (AI) in real estate. Avanti Way has been leveraging AI for approximately six or seven years and developed the industry’s first intelligent contract system, which allows realtors and consumers to confidently navigate their real estate transactions. Furthermore, Avanti Way is currently focusing its AI efforts on marketing and communication by developing technologies that facilitate content creation, such as crafting property descriptions and generating ads for social media platforms. This approach reflects their commitment to simplifying and enhancing the real estate experience through innovative technology.

Simplifying Real Estate

The company’s primary focus has been on continuously improving and refining this platform to deliver increased value to consumers and agents alike. The company’s work centers around simplifying various aspects of the real estate process while building on industry traditions and practices to enhance the overall real estate experience. They have coined a term to bring this concept to life: energy-efficient real-estating.

Avanti Way operates with a dual focus, encompassing both amplification of its vision to revolutionize the real estate industry and the agent’s role in delivering value to consumers. The company continuously asks itself what value it can offer to consumers in its mission to provide a unique and data-driven real estate experience that simplifies a complex process.

Listening to the World

Enrique’s extensive travel experiences have taken him to various locations worldwide, where he actively participates in numerous real estate conferences and industry events. These unique opportunities to explore and understand how real estate impacts different communities worldwide have helped further craft the Avanti Way Realty vision and allowed his team to stay informed about the industry and its trends.

One of their critical practices is to actively listen to the needs of various voices within the industry, such as title companies, mortgage companies, consumers, competitors, associations, and other participants in the real estate chain. Enrique brings this technique to light by explaining that most people listen to what others want, but very few tap into the frequencies of what individuals truly need. This emphasis on identifying needs allows Avanti Way Realty to develop innovative solutions and create changes that can positively impact the industry.

Elevating the Real Estate Industry

Enrique believes he can make the most significant impact in the industry by dedicating his time and resources to elevating the real estate market. He has volunteered in many associations and events that have helped shape the real estate industry. In 2022, he was elected president of the nation’s largest local real estate association, which has 60,000 members. His commitment extends to scrutinizing various aspects of the industry and adopting a holistic approach to drive changes, both within his organization and as a model for the real estate industry.

Now, more than ever, Enrique is acutely aware of the urgent need for dynamic innovation within the real estate industry. He emphasizes that, over many decades, broker-owners have often played a less prominent role in innovating the value proposition for consumers and agents and in shaping the industry’s future. This diminishing involvement has set the industry on a course of significant changes, which jeopardize the role played by brokers and agents. Even worse, it has led to an all-time low in broker profitability, making it more challenging to invest in innovation and create value.

The primary cause of this decline in broker profitability lies in the absence of innovative value that brokers offer their agents to serve consumers, particularly in simplifying their responsibilities. This situation has given agents the upper hand in negotiating a substantial portion of the commissions that consumers pay when selling their properties to the broker-owner, representing a significant threat to the roles of agents and broker-owners within the industry.

Most agents aim to survive and thrive for their own benefit and do not reinvest significantly in the industry. Meanwhile, broker-owners should concentrate on ensuring their sustainability and longevity by delivering absolute value, directly impacting and enhancing the evolution of the industry value chain. Unfortunately, this requires the strategic allocation of capital and resources, and if broker-owners continue with the current trend and fail to create value that generates more significant profit, they risk the industry finding other solutions that will not involve agents and brokers in the same way.

Enrique wishes inspire others in the industry to follow a path of innovation. He has successfully built a tech-driven brokerage firm, without the need for excessive fundraising, demonstrating there are cost-effective ways to make a substantial impact. By sharing his goal and deploying his time and energy, Enrique aims to encourage a shift in the industry’s mindset, fostering innovation and reinvestment to add value. He passionately promotes the idea that the world is driven by value, emphasizing that consumers and agents are willing to invest in products and services that offer substantial value. Whether in high-end markets or more accessible consumer segments, Enrique believes creating value is the key to success, allowing everyone to thrive in their respective markets.

Leadership beyond Self

Enrique believes authentic leaders consistently confront challenges in their roles. Their responsibility involves shaping a vision and understanding the impact it has on those connected to it. While some leaders may initially have self-centered ambitions, exceptional leaders evolve, recognizing that their focus should center instead on collective influence.

The challenge for leaders lies in ensuring their vision serves the best interests of everyone who plays a role in making it a reality. This requires daily dedication to shaping and working toward a vision that positively affects the entire community, prioritizing the collective good over personal interests. Leaders must focus on nurturing the growth of individuals within their organization and their contributions to the shared vision.

Enrique provides an example of how his organization seeks to improve lives through real estate by enhancing consumer experiences through agents. They create a chain of value that extends to communities, ultimately generating prosperity for all. This includes aiding individuals in accessing housing through various programs and initiatives, supporting investors in making profitable investments, and helping sellers maximize their home sales. The challenge for leaders lies in managing their energy effectively to foster their teams’ and communities’ growth and create a positive impact.

Enrique recalls a specific situation where his leadership approach truly shone. It involved working with an individual whom his management team believed might not be the best fit for a particular role due to their limited real estate experience and unfamiliarity with American customs. Whereas others only saw this person’s limitations, Enrique took the time to interview and assess them. He discerned something unique—a spark of determination within the individual. Recognizing this potential, Enrique dedicated time and effort to mentor this person.

Instead of following the conventional route of not investing in such personnel, Enrique chose to invest in their development. Today, that individual has become an invaluable part of Avanti Way Realty. This story underscores Enrique’s belief in asking the right questions and approaching challenges from the right perspective. He unveiled hidden potential, transformed an individual’s life, and propelled his company forward, serving as a testament to the power of recognizing the potential in individuals whom others might overlook.

Perspective on Leadership

Enrique emphasizes the importance of having an exceptional team for supporting and driving the company’s success. He is proud of his company’s leadership and managerial team, recognizing their collective efforts have been instrumental in the company’s achievements. He acknowledges that leaders don’t reach their goals by themselves and that they rely on incredible leaders who work alongside them. He values his team’s positive and motivating influence and notes they push him to be the best he can be. Enrique leaves a valuable message regarding the essential role of a strong team in accomplishing ambitious goals and highlights his gratitude for the outstanding individuals he has the privilege to work with.

Bridging Generational Gaps

Enrique places a strong emphasis on his ability to connect with people in various age groups. He enjoys engaging with people, gaining insights into their different perspectives, and sharing his vision with them. He especially believes in the importance of understanding and empathizing with members of younger generations, who often bring forward new ideas and ways of doing things. This empathy and open communication are essential for staying relevant in an industry that serves a diverse range of consumers, including baby boomers, gen X, millennials, and generation Z. As a leader, Enrique values the ability to adapt and connect with individuals from various age groups, which is crucial in a company of their size.

Creating a Nationwide Impact on Real Estate

Avanti Way is expanding its objective to go nationwide to impact communities and real estate agents across the United States. They are growing rapidly in Florida, covering the state from head to toe and servicing all major markets, including Miami, Broward, Palm Beach, Tampa, Orlando, and Jacksonville. They attract many agents to their company and grow at the average broker size in the state each month. Best of all, they are creating an innovative and forward-thinking environment for growth. The company aims to impact as many agents’ lives as possible nationwide, reflecting its commitment to providing consumers with a unique, tech-driven experience. The future looks promising as they work toward this ambitious goal.