4 Powerful Women in Real Estate Share Their Success Secrets of 2020

by Joe Sesso on April 1, 2021

In the U.S., March is recognized as National Women’s History Month. Throughout the month, companies and individuals focus on the contributions that women have made to our history. The world of real estate is no different, as many women have contributed to and developed this field into what it is today.

In a recent Secrets of Top Selling Agents webinar, four women shared their stories of how they grew their real estate careers into the powerhouses they are today. Marki Lemons-Ryhal, Wendy Papasan, Sue Adler and Shannon King are all well-known throughout the real estate industry both for their market knowledge and their ability to inspire others to pursue their own real estate goals. During our uncertain times, these dynamic women shared their experiences of 2020, and how they have been able to keep their businesses growing. Here are the some of the lessons they shared.

Embrace Change with Positivity

Sue Adler runs a Keller Williams team that has been among the top producing teams for all companies in the country for the past 15 years. In 2020, her team did $225 million in sales, which is unprecedented during the time of the COVID shutdowns. Adler shared that one of the main reasons she and her team were able to accomplish this was by shifting their focus from new client acquisition to sphere of influence and past clients. In addition to this, her team members went above and beyond by performing acts of service within the community, which earned them admiration and recognition within their community.

The pandemic made it very difficult to do in person showings. Adler and her team quickly pivoted their focus to digital listings, so consumers were still able to search for their next home. Another virtual tactic Adler’s team used was hosting open houses through Zoom. These open houses generally saw 30-40 registrants per event.

They also created virtual home-selling workshops, which generated nearly one thousand registrants. These attendees then became their pipeline, because they were looking to sell in the near future. Adler’s digital and virtual strategies paid off in a big way in 2020.

Building Wealth Through Real Estate

Wendy Papasan is the leader of the Papasan Keller Williams group in Austin, Texas. Wendy’s focus during the webinar was on building wealth through owning investment properties. According to Papasan, “One in three REALTORS® has saved nothing for their retirement.” Papasan shared her personal story from twenty years ago, when her husband attended a real estate finance class. When he came home from the class and told her that they needed to start tracking their net worth. This was their first step to becoming multi-millionaires. She then shared her four fundamental habits to acquiring wealth through real estate investment with viewers.

Papasan said the first fundamental habit to reaching your wealth goal is to track your net worth, “Everything you own minus everything you owe,” every month in a spreadsheet. Papasan’s second habit is to pay yourself first, which means taking a percentage from every commission check and putting it into your investment account before you pay anything else. Her third fundamental habit is to “Say no to say yes.” This means saying “no” to the material things you want right now, so you can say “yes” to the more important things you want later, such as an investment property. Papasan’s final habit is to become financially educated, especially since this is a skill most people are not taught. She recommends reading The Psychology of Money and The Simple Path to Wealth, to learn more about finances, investments and acquiring wealth.

Generating Passive Income

Shannon King is the master of establishing and building her business in multiple locations, as she has become licensed in multiple states and in Europe. In her segment, King stressed the importance of creating an exit strategy for yourself to actively walk away from your business. She said the best way to do this is to find your definition of success. This means asking yourself how much money you will need to be able to retire from your business (i.e. net worth, monthly income, etc.)

Another tip is to design a business that creates passive income. King does this by focusing on her sphere of influence through phone calls, holiday cards and other mailings. Her main focus is referrals, which generates passive income for her from past clients around the world. In addition to this, King recommended investing time in thinking about your brand name so it can be transferable in the future when you’re ready to retire. King said that it is crucial to create strong partnerships and build relationships across cities so you have contacts in multiple places. King shared that, whenever she moved, she identified her exit strategy by finding an agent she clicked with who she could trust her clients with when she left the area. Her final tip was to create a lifestyle in which you’re working with your target market, connecting with agents who will send you referrals and generating a passive income, while still being able to live a life you love.

Pivoting in the Face of Uncertainty

Marki Lemons-Ryhal, keynote speaker and best-selling author, built her empire as an educator in the real estate and marketing sphere. When the pandemic caused shut-downs of all speaking events, Lemons-Ryhal took this as an opportunity to “emerge better.” During this time, she published twenty-three publications, four of which became international best-sellers. In addition to this, she collaborated with and raised $50,000 for “THE 77” and created a scholarship fund for African-American females in underserved communities. She also created a real estate clothing line in collaboration with another agent. Lemons-Ryhal’s message was to face times of uncertainty and think about how you can use them to focus on both what’s important to you and how to generate forms of passive income. She told listeners to think about what’s needed in real estate and your community and how you can collaborate or get involved to make that happen.

To watch the full interview and learn all of these women’s top tips and secrets, please go to www.SecretsOfTopSellingAgents.com

Image of Joe Sesso Joe Sesso is the Executive Director of Sales Marketing for Homes.com and an Award Winning & Best Selling AuthorJoe Sesso is director of Sales and national speaker for Homes.com. For more information, please visit marketing.homes.com.

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