I was speaking with a small-town real estate broker who is now selling her brokerage after 20 years. Here is her story:
Perspective can and does change our world. In my journeys, many people ask me what I do for a living. I always respond: “I grow people”. It’s the most accurate answer. It doesn’t limit me. It expands what I do in every conceivable way. As an aside, I sell real estate. I train people to sell real estate. I grow people. I love what I do every single day.
About 20 years ago we moved from LaQuinta CA to a pristine part of Washington state near to Grand Forks British Columbia. We purchased a home on the mighty Kettle River. Then I established Brown Bear Real Estate in Republic WA. There was no MLS, no cooperation among licensed real estate brokers. In fact I was not a very welcomed addition to the real estate community at large. I knew I could change that perspective. It may surprise you that I attribute my success here to listening. First and foremost, always listen.
I rented a small office in downtown Republic and began cold calling. I grew and hired a secretary. She liked what she saw, became licensed, and enjoyed many productive years prior to her retirement. Soon, the two brokers who did not welcome me sold or closed their offices. I hired another, and ultimately five more. At present, there are four. Then I purchased an old run-down stand-alone bakery building and remodeled it to a bright and shiny real estate office. The growth was recognized. A franchise moved to Republic, WA. We all joined the largest MLS in the state of WA. We all grew. We continue to grow, and while growing is what we have worked for all these years, it is now time to let someone else relish this experience, and so we are selling our brokerage.
RE Brokers
$280,000.
Boutique RE office for sale. Ferry County WA
#2 in county production with room for expansion.
#1 in Quality of Life Living. Do what you Love. Love what you do.
Well established. Building, FFE and opportunity. Downtown presence.
Our retirement is your chance. This email address is being protected from spambots. You need JavaScript enabled to view it.. Discretion please.
www.brownbearrealestate.com attention: Diana.
So I asked Diana, and she answered…
Q: Is your customer data base digitized in anyway?
A: No. Our MLS demonstrates most data but not all. All our county mailers are taken from county property tax rolls. Approximately 7500. We also mail to two other neighboring counties at west boundary and east. Typically we stay close to county lines primarily for servicing issues.
Q: What is the median price of a property and what types of property do you sell?
A: We sell all kinds. Here there is no zoning. Universal building codes are what is implemented. All fee simple land. 6th largest county by land mass in the state. Approximately 18% privately held land. Remainder is US Forest, Department Natural Resources, Bureau of Land Management. Huge recreational draw, many lakes, rivers. Attracts hunters, fisherman, hikers, bikers, nature photography (Audubon Society favorite), campers, boating ...you name it. It’s the wild life, population density, lack of cell towers, owning your water rights, timber rights, mineral rights. It’s the independence. In comparison to Ca. it’s like stepping back in time 50 -75 years.
2017 Average price : $113,825.
2018 Average price: $90,103.
Q: Could a broker owner survive without selling?
A: If you imported more talent, yes. At present, I don’t think so.
Q: Who do you think is your likely candidate to purchase…demographic and background.
A: A real estate broker like I was who was not satisfied with a new car every year, chasing dollars, paying more taxes, enjoying less freedoms, competing with more and more traffic, and people density in general.
A real estate attorney who, by virtue of their license to practice could capture more of the real estate business in escrow, title and real estate brokerage thereby building the business entity even greater.
A licensed title rep or Licensed Practice Officer (escrow) who is looking to diversify into brokerage. We have a licensed LPO now working to extricate herself from escrow/title and concentrate solely on real estate brokerage. She is my newest licensee.
The Buyer can come from any state. Re-licensing in WA state is easy to do (in comparison to Ca). Most other state accreditation transfers one simply takes a Wa. law portion state test to become operational.
Who will the most likely Buyer be? Someone who enjoys what they do professionally but is looking to improve quality of life. They may very well be successful but unfulfilled. They may recognize a change where they experience 4 seasons, less distractions is needed for balance that is presently missing.
I looked for 3 years prior to this discovery. They may look just like me but YOUNGER!
Good luck, Diana.
