RISMedia's Real Estate Magazine

AUG 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1007402

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Page 55 of 126

RISMedia's REAL ESTATE August 2018 51 by Keith Loria {Power Broker Perspectives} Nancy Fennell: Staying True to the Vision After working in the corporate world for many years, Nancy Fennell obtained her real estate license in 1985 and hasn't looked back. Today, as president of Dickson Realty, Fennell believes that homeownership is still one of the cornerstones of the American Dream, which is why she enjoys matching people to their dream homes in the Northern Nevada marketplace. "Housing is so important," says Fennell. "It's the foundation of our neighbor- hoods, communities and cities. It's our community gathering place and where our children go to school. Our home is our own blank canvas to create our ver- sion of sanctuary." With the first half of 2018 behind us, how is your market faring so far this year? Nancy Fennell: In spite of the most severe lack of inventory we've ever expe- rienced (12 days of inven- tory under $350,000), the law of supply and demand, coupled with the 140 new companies that have moved to the region in the past four years (includ- ing Tesla, Apple, Google and Switch), has kicked in. While volume is up sig- nificantly, units are only up slightly at 5 percent. Do you have any plans to grow the firm in the next 12 months? NF: We do plan to grow our firm. For us, it has never been about quantity, but rather, quality. Growing our firm means continuing to provide our agents with the most efficient and effective tools to leverage their time so that they can do what they do so well. Training, sharing and collaborating will continue to make our existing agents more pro- ductive. We'll expand to new markets, and we're always open to mergers and acquisitions that make sense. What sets your firm apart in the marketplace? NF: We aren't for every- one, and not everyone is for us. Having a vision for both our company and our community—and funding it—is what attracts some of the finest agents in the business to us. They share our vision and they set us apart. Growing up as an agent in the business has been a great help. When agents talk, we listen. We work at having a collabora- tive environment, which is critical when it comes to attracting some of the best and brightest. How are you updating your technology and training to provide the resources agents need to succeed? NF: In addition to employ- ing an outstanding outside firm that we've worked with for many years to help us vet our technology needs, we also have an incredibly talented vice president of Marketing who came from the digital world. As far as training, we do offer an in- house training program, but we've found that not all agents want to be trained; therefore, we're providing ways to do what we need to do for them while allowing them to do what they do so well, which is build relation- ships and help people buy and sell real estate. How are you attracting new agents to your firm and retaining top producers? NF: When the market is good, which it currently is, there are many people entering the business. We might interview 30 or 40 agents a month and hire one or two. Our new agent training, Dickson Univer- sity, which used to be a six-month program, is now a three-month mandatory program taught by a talent- ed group of leaders that's attracting new agents to our firm. We feel blessed to have maintained so many of our top producers. It's all about sharing a vi- sion and building unshak- able trust with them. They know they're important to us, and we will do what- ever we can to help make them successful, because if they're successful, we're all successful. What are some of the challenges the industry is facing, and how is your firm responding to com- bat these issues? NF: I believe we, as bro- kers, are one of the biggest challenges to our industry. While we seem to be dis- tracted by the new, shiny idea and the doom of the VITALS: Dickson Realty Years in business: 45 Size: 8 offices, 270 agents Regions served: Northern California and Northern Nevada 2017 sales volume: $1,315,884,834 2017 transactions: 3,061 No. 211 in sales volume in RISMedia's 2018 Power Broker Report www.dicksonrealty.com

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