Jennifer Spencer, CEO of Spencer Properties and well-established real estate entrepreneur in Raleigh, shares her passion for the real estate business.
Jennifer started working as a commercial insurance broker straight out of university, until she discovered her love and admiration for real estate. She founded Spencer Properties in 1997, where she employs a team of hard working and intelligent professionals that provide their clients excellent services. Jennifer has been in the real estate business for over 21 years now and she is never looking back! Learn more about Jennifer’s success story by checking out her interview with PropertySpark below!
When did you start your career in real estate?
I started my real estate career in 1996.
Please also in 2 short lines brag about yourself, if you really had to impress someone about what you do, what would you say?
I am the CEO of my own real estate company that is run by incredibly smart, hard working and caring team members who deliver service and results with excellence. I have been a real estate investor for 21 years and I believe it is the simplest way to build wealth and financial independence.
What inspired you to start in real estate and how did you motivate yourself to keep going?
I started as an investor buying rental houses first for myself then when the interstate ran through our family farm, I helped my grandparents do a 1031 tax free exchange to avoid paying capital gains on their property. I started helping other investors get into real estate and before I knew it, I had a full blown real estate brokerage. I loved it from the beginning and it has grown every year, so keeping going was not difficult. I just had to learn to manage the demands of this industry.
Comparing your business from back then to now, what has been the main thing that allowed you to expand your business?
Building a quality team.
What’s the most profitable aspect of your business, why do you think this is and how can others apply this to what they are doing?
A clear focus on obtaining listings and paying attention to the financials are the keys to profitability for me.
How do you work? (Do you wake up early, work late, communicate, what jobs do you do yourself, who do you talk to, etc.)
I pray and study the Bible exercise every morning. That gives me the fuel to do what I need to do each day. As CEO, my role is to lead my team, manage resources and develop our strategies. Each day is different. I communicate with my team, my coach and I network in our community.
When did you realize you were successful/made it and how did you feel/celebrate?
I felt successful when I left my very good corporate job and ran my real estate business full time. I felt free.
Looking back, what could you of done sooner to of got to that point quicker?
Start my team MUCH earlier than I did. They do it better than I do. We specialize in our areas of strength. We have a good work and personal life balance. We deliver a much higher level of service. We have fun doing it together!
What should other real estate entrepreneurs reading this be focusing on to expand their own business?
Build a team or at the very least, an admin assistant.
What do you consider the main differences between those people who have been successful in your industry and those who have failed?
1. Focus on sales/lead generation. 2. Focus on profitability.
How has social media and online marketing affected your real estate business? How much more success have you had now after implementing social media and online marketing efforts?
Repeat, referral and relationship business is half of our business and 40% is social media and online marketing. 10% is everything else.
We hope you’ve learnt a great deal about becoming a successful real estate agent. Make sure to reach out to Jennifer Spencer for a phenomenal and a one of a kind experience in buying or selling real estate in Raleigh!