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Broker Spotlight: Michelle Richardson
Name: Michelle Richardson
Title: Managing broker, Florida
Experience: 15 years
Location: Pompano Beach, Florida
Brokerage name: LoKation Real Estate
Rankings: No. 13 of all independent brokers (RealTrends) or 20th overall transaction sides (Mega 1000)
Team size: 3,013
Transaction sides: 12,038
Sales volume: $5 billion
Why/how did you get your start in real estate?
In 2008, I worked for a corporate housing company that was going out of business and had told the CEO at the time that I was thinking of getting my real estate license. Instead of terminating all of her staff right away, she allowed me to work at the company and study during the hours of operation until I got my license 30 days later.
Her leadership mentality was instilled in me to want to make a difference in others’ lives.
How did you choose your first brokerage?
The first company I worked for in 2008 I chose because an agent wanted me to be part of their downline and said they would mentor me. I started doing transactions with FHA 203K loans on foreclosures, and neither the mentor nor the Broker knew how to handle a deal like this.
I ended up realizing that I wasn’t with the right company and started to work with a mentor who was closing 20 to 30 foreclosures a month.
What do you wish more people knew about working in real estate?
Getting your real estate license is the easiest part of working in real estate. What everyone doesn’t realize is that you are opening your very own company and what you do every day matters to become successful. One day off, is 30 days away from a paycheck.
One of the best things you can do is collaborate with other local Realtors in the area to create a great working relationship with them. There is a saying, “You get more flies with honey.” There is no need to be unkind to your peers.
Most Realtors work as a transaction broker on behalf of the transaction, not the customer. So, collaborate with the other agent to get the deal done, and do it with grace.
What’s something you know now that you wish you knew when you started?
Pick a broker or a mentor who is willing to help you get started, and don’t be afraid to ask a lot of questions. Without a blueprint of daily, monthly, and annual goals, it will feel like you are running up Mount Everest in a zigzag pattern.
What’s your top tip for freshly licensed brokers?
If you are a new broker, be careful who you bring on as an agent. While you are getting your systems in place, if an agent doesn’t have the tenacity and drive to be successful, you could be spending a lot of time on an agent who doesn’t have the capability to do things on their own.
Hire slow and fire fast. Once your systems are in place, at that time, recruit, recruit, recruit!