Born to be an Entrepreneur
Andrew Balogh of The Urban Agency brokered by eXp Realty
Written by Heather Pluard
Photos by Kelly Klemmensen Photography
Einstein flunked math, Jordan didn’t make the varsity basketball team his sophomore year, and Andrew Balogh failed to get into UNC-Chapel Hill Business School twice. Yet all three men went on to be wildly successful in their fields because they had the right mindset. In Andrew’s case, he knew he was born to be an entrepreneur and wouldn’t let anyone or anything stand in his way.
“Growing up in my small hometown, I knew I wanted to own my own business,” Andrew says. “I started my first online one while at UNC, flipping limited edition Air Jordan and Nike sneakers on eBay. So, when I didn’t make it into the business school, I figured I would prove the program wrong.”
While earning degrees in economics and entrepreneurship at UNC, Andrew interned for companies that introduced him to the many facets of real estate. As a result, he fell in love with the industry. So, after graduating in 2018, Andrew moved to Charlotte to work as an analyst for Wells Fargo in their commercial real estate banking group.
“It was a fantastic Corporate America job, but I found a disconnect between its task-driven nature and my personality as an entrepreneur,” Andrew says. “Even though I loved the commercial real estate space, I was not inspired. Plus, I flipped my first investment property that same year and made half my corporate salary in a fourth of the time. I saw firsthand how powerful real estate can be and have developed a passion for sharing it with others. I love real estate because of the freedom it can provide your life with.”
Andrew continued to invest in property and thought about obtaining his real estate license for years. When COVID-19 hit in 2020 and Charlotte shut down, he saw his opportunity. “Everything went online,” he says. “I knocked the training out in two months and passed the exam on the first try. Then I quit my corporate job and became a full-time REALTOR® in January 2021.”
After interviewing multiple brokerages, Andrew launched his new career at Yancey Realty, a boutique brokerage in the South End. “I felt like it was created with agents in mind, and it’s been a great fit for me,” Andrew says. “Plus, Franklin Yancey has been an incredible mentor over the last two years. Being in sales was new to me, so anytime I had a question or needed direction, he would set me on the right track.”
During his first year as a full-time agent, Andrew sold $5.7 million in real estate. Today, he’s on track to close 2022 with over $20 million in sales and is getting ready to launch his team, The Urban Agency. “Scaling up was always my plan,” he says. “There are only so many clients one person can service at a time, and I want to help more by bringing on a few agents who are go-getters and are ready to take things to the next level by learning how to elevate their business in a short amount of time, just like I did.
My niche is working with young professionals, business owners and investors/developers. I’m licensed in both North and South Carolina but have a strong focus on Charlotte’s urban neighborhoods because that’s where most of my clients want to be. When I take on a new client, they are a client for life, and my goal is to help them achieve millionaire status within five to 10 years through their real estate decisions.”
An avid reader, Andrew stays current on market trends, investing strategies and the economy. “I want to be the go-to resource for clients,” he says. “When they have a real estate need or question, I want them to think of me first because they know I will have the answer for them.”
Andrew also likes staying top-of-mind through social media. “I’ve always been a networker, earning business by talking to everyone about who I am, what I do, and how I can help them,” he says. “But I’ve taken that to the next level with social media by putting out free value. I’ve built a following by providing tips and other knowledgeable content. My best advice is to create a personal brand and consistently put it out there. You’ll attract people who like your message and want to work with you.”
When Andrew isn’t helping clients, he loves spending time with his Goldendoodle puppy, Lu. “She’s amazing, and we always enjoy walking on the Rail Trail,” he says. “I’m big into fitness, so I work out at the Dowd YMCA four to five days a week and play golf when I can find the time. I’m also a huge foodie. I like trying different restaurants, meeting new people, and hanging out with friends at local breweries. But most of all, I love investing in real estate and growing my business. I always knew I would be an entrepreneur!” The Urban Agency was inspired by Andrew’s nickname as “The Urban Agent.”
Find Andrew at urbanagentclt.com, on Instagram: @andrewbaloghrealestate or @the_urban_agency. His YouTube channel is Living in Charlotte North Carolina.