Shivam Patel Works Hard and Puts People First!
Patel Standard Realty
Written by Heather Pluard
Photos by Kelly Klemmensen Photography
When Shivam Patel says he enjoys taking care of others, he means it. Whether it’s family, clients, agents, or industry partners, Shivam is a broker/owner who believes in putting people first. And that philosophy has helped Patel Standard Realty become one of Charlotte’s fastest-growing real estate companies.
“Last year, I launched a 100% commission realty firm that gives agents everything they need to save time, save money, and get their power back,” Shivam says. “I grew up in Chicago with solid, working-class values. My mom was a homemaker, and my dad worked 80-hour weeks on minimum wage to feed our family. So, my goal has never been to be a CEO making billions of dollars off other people’s labor. Instead, I like living well while helping other people do the same.”
Patel Standard Realty is Shivam’s push-back against corporate greed. It’s financially friendly for agents and loosely based on the Silicon Valley model of working from home. The brokerage focuses on empowering individual agents and ditches outdated corporate-structure mindsets. For example, Shivam doesn’t require meetings about information that he can easily send in an email. And, as a UNC graduate with a Bachelor of Finance and Operations degree, he loves to automate real estate systems and keep his company streamlined.
“Automated systems give agents more control and save them time to do other things,” Shivam says. “We have software to pre-fill forms, closing coordinators to do paperwork, shortcuts on phones to be ready on the fly, automated email databases, and online training that agents can learn and relearn whenever they want.”
After interning with Wells Fargo in his senior year of college, Shivam accepted a full-time position with the multinational financial services company when he graduated. For the next seven years, he did commercial real estate – working in acquisitions, construction, and asset management. Shivam excelled at connecting pieces to moving parts and learned how to team-build while interfacing with high-net-worth clients. On the weekends, he also sold real estate.
“I’m a pretty extroverted person, and after being in front of a computer from 9 to 5, it felt good to interact with people in person through real estate,” he says. “My aunt owned a brokerage and was the first person to tell me I had the talent to be an agent, probably because I was such a talkative kid. So I hung my license with her and worked 80-hour weeks like my dad, trying to find the best fit for my personality. Hands down, it was residential real estate. Then, when my aunt retired, I decided to leave Wells Fargo and join Giving Tree Realty as a full-time agent. It was good timing because, at 26, I had a lot of friends looking to buy their first home, and I felt I could tap a built-in clientele to start my real estate business.”
By the time he was 31, Shivam was ready to start his brokerage. “I’m a market junkie, and I like researching and teaching even more than I like selling,” he says. “Starting a brokerage was a great way for me to use my entire skill set, and I loved the idea of doing real estate differently to help more agents. But I’m an active BIC. I closed $15 million last year, and the lion’s share of my income is still off my sales. I’ve just never felt like I needed a crazy amount of money. I would rather build a team of happy agents who are getting well paid and stay for decades. That’s why my agents keep 100% of their commission after the first three sales and only pay low-cost monthly and semi-annual fees. I don’t believe in termination fees or language, either. If people aren’t happy, they’re free to leave. My goal is to build a circle of high-character agents with good interpersonal skills who are easily coachable and have a positive outlook on life.”
Today, Patel Standard Realty has 23 professional agents and plans to keep growing. But, while Shivam loves helping agents take their power back, he says nothing will ever top the feeling of buying his dad a house and helping him retire after a lifetime of hard work. “My parents never made a lot of money, but they shared what they had, and they taught me to work hard and put people first,” he says. “That philosophy is the foundation of Patel Standard Realty’s success, and I’m excited to be having such a positive impact on the industry.”