I am an eleven-year real estate veteran and, with my husband and partner Steve, am Broker-Owner of San Diego Castles Realty in (brace yourself) San Diego. We assist both buyers and sellers in all areas of San Diego County. I am also (gasp) a real estate blogger.
In addition to our website, San Diego Castles (SanDiegoCastles.com), we host our San Diego Home Blog (SanDiegoHomeBlog.com).
I think that should have been "Brian." Sorry. :) Kris Berg
Brain, This was not intended as a backhand at all. In fact, and as I said, when I wrote this I did not have the luxury of knowing who our next president would be (with certainty). A really bad time slot indeed. Kris Berg
Robert, Somehow I fear that this was received, by many, as a "let them eat cake" piece, and it couldn't be further from the truth. At least, that wasn't my intended message. You asked:
I'm curious how you got your start in real estate and how you supported yourself while building your practice? Were you full-time from day one? How many transactions did you have your first year? Some personal history might shed some interesting light on the strength or weakness of your thesis.I started in real estate in September of 1997, and because I did my homework and had a father-in-law in the business, I expected to be a debt center for at least a year and planned accordingly. Yes, I was fortunate in that my husband had a full-time job which paid the bills, but the pressure to succeed was no less. This is because I made the commitment to put all of my eggs in this basket, and I am not a big fan of failure. I was full-time from day one. Admittedly, late '97 was toward the end of the last down cycle, but it preceded our most recent boom years. And while there were fewer licensed agents then, there were also far fewer transactions to go around. The realities of that market were the same as the realities today; this is an insanely difficult business to break into. I did it by working my tail off. I walked neighborhoods, passed out pumpkins and calendars, sat floor time until my hindquarters were numb, and attended every community event where home buyers or sellers might be expected to congregate. I previewed every home on the market, met every For Sale By Owner, and I mailed farms. I took classes, and eventually got my Brokers license. To answer your question, in 1998, my first full year, I closed 12 transactions. It started with one FSBO, and I eventually closed eight more as a direct result of that one home (four in the first year), because I met people. My first "farm" was 50 homes, homes I walked because I couldn't afford the postage. I mail a few more now but, like most agents, we have cut back dramatically this past year. Our business, like most everyone's, is down. I have had blockbuster earning years, and I have lived off of a line of credit. I have spent my paycheck on frivolous, discretionary personal spending, and I have spent a chunk of my retirement account on getting a Just Listed brochure mailed. I am not immune to the current hardships and challenges; I still have to pay attention to the price of spaghetti sauce, and I spend too many sleepless nights worrying about the future. But during my days, I am prepared to invest in myself because I know this too shall pass, and I am in it for the long haul. When I am short on clients, I spend my energies learning more so I can bring more value. I spend my time rethinking and improving my business plan, my marketing plan, and my overall approach to surviving in a profession which is changing daily and not looking back. As "Top Producers" go, Steve and I are admittedly in the upper middle class of earners. Our best year saw 58 closed sales, while 40 is sounding pretty good right now. We are not #1 in the world, in the nation, or even in San Diego -- not even close. But we have worked very hard to get to where we are, and we are prepared to work much harder to be in a better place tomorrow. This is one of the greatest businesses in the world. The rewards, in terms of satisfaction, are immense. The earning potential is essentially unlimited, and that brings its own rewards. But so many were able to survive and thrive the past several years without breaking a sweat. That was an anomaly. This business is competitive, it is crowded, and it is not easy. Or, at least, it shouldn't be. Kris Berg
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Submitted by Lenore & Alex Wilkas on March 5, 2008 - 11:15pm.
Hi Kris,
Love your stuff.