Speaker 1: 0:30

My name's Nicole Garner. I am a real estate broker. The name of my company is Kona Realty, so we help buyers, sellers, landlords, tenants find home.

Speaker 2: 0:41

I love that. And now tell me, could you share what inspired you to pursue a career in real estate and how your experiences have shaped your approach in the industry?

Speaker 1: 0:51

Yeah, so I'll be pretty transparent here. I've been in real estate for about eight years now and really what kind of motivated me? My background, so my degree is in IT, so I was a government contractor for many years. But I'm sure as you people, as you get older, you kind of think about you know more purposeful things, right. So that, mixed with kind of what the future holds, in a way to kind of build wealth and real estate, piqued my interest.

Speaker 1: 1:18

Um. So I've been a landlord for about 10 years now and wanted to continue to grow my portfolio. So I got my real estate license, um, with the intention on building capital and learning more about real estate. What I did not expect is how much I would enjoy helping people in real estate. So that's kind of my why and what I do so as an agent for seven years. Last year I kind of wanted to level up. So I got my broker's license, opened my own firm with the intent on cultivating an environment more in line with my core values and then allow me to be a little bit more flexible for my clients and then hopefully invite agents and brokers who are like-minded.

Speaker 2: 1:57

Absolutely. That is awesome. Is that kind of like what inspired you to make, I guess, your own firm, as opposed to going to one and working?

Speaker 1: 2:05

for somebody else. Yeah, so I've been. First firm I worked for was Remax. I was there for five years, loved it. A lot of professional development. That broker retired and closed the office. A lot of professional development. That broker retired and closed the office. So I went to Samson Properties, which is very agent friendly, no issues with the brokerage. But it was more focused on who I wanted to be, what I wanted to do, how I wanted to serve Respiration. So, yeah, and just being your own boss offers you it's a ton of responsibility, but it also offers you a bit more flexibility, right. So that was more of the motivation. I wanted to be flexible. I didn't want to have to get buy-in from someone else to allow me to serve in the way that I wanted to serve Absolutely.

Speaker 2: 2:48

And then, how many people do you have on your team?

Speaker 1: 2:51

So I just have one agent now. Okay, the intention is to grow. I still would like to be remain a boutique firm, right? So I don't necessarily have dreams of like a huge firm or you know, franchise, but you know I want it to be. I'm going to be particular with who joins me at the firm, so I want, like I said, I want it to be like-minded. You know. So I want, like I said, I want it to be like-minded. You know, folks that are there to you know, serve the community Right, and they can also build wealth themselves by helping other while helping other folks build wealth. Absolutely, I love it yeah.

Speaker 2: 3:26

And then, what type of marketing are you doing for your business to get the word out there? Are you going to events like network events? Are you on social media making videos? What's working, what's not working.

Speaker 1: 3:36

So marketing is a whole monster in and of itself and it continues to be one of those. It's like two full-time jobs in and of itself. So I am on social media Facebook, instagram, linkedin, youtube. I have a website and I'm beefing up the network in the marketing. So this past Friday there was an Empower Her Global Business Summit at MGM. So I was there, got to meet a bunch of wonderful, lovely women. We got to talk about our pluses in the business and some of the challenges that come along with being small businesses, starting your firm or those that have even been in business for quite a while. So I'm trying to beef up the networking a little bit, trying to stay ahead of the social media monster and algorithm. I do a lot of email marketing, so my particular sphere of influence and clients tend to respond a little bit more in that realm the email world, yeah Cool, and sometimes I think it's a particular demographic, right Yep. But I would like to touch the social media. You know some of the folks that kind of feed off the social media.

Speaker 2: 4:46

Yeah, just expand your reach, yeah I love it.

Speaker 1: 4:48

Yeah, it's hard to keep up. Sometimes you know like the videos because you're doing your business right, the videos because you're doing your business right, and then marketing is a part that comes with it, but it's yeah, it's a lot.

Speaker 2: 4:59

It's a lot, it is good grief. I believe in you, though. You're going to attack this and you're going to nail it.

Speaker 1: 5:07

It's help. That's all this is. It's just. It's not something that I can do alone.

Speaker 2: 5:12

Yeah, exactly, so it's just it's helped.

Speaker 1: 5:14

So hopefully I'll have someone on board on Monday. That will be able to you know, take on that monster.

Speaker 2: 5:21

I love that. That's great. That's exciting for you. And then let's see. Your firm emphasizes empowering clients in their real estate journeys. How do you educate and inspire clients to make informed decisions?

Speaker 1: 5:34

So that's a big thing for me. So I am very particular about making sure that you are educated in what you're doing, right? I don't want to I tell people all the time. I don't make decisions for adults. I want to give you the information, I want to explain the particular process or what your options are, and I want you to make choices that are best for you as an individual or your family. So that's just. You know whether it's being on a call for an hour and a half. You know explaining. You know what a particular approach to in terms of you know if I'm working with a seller, you have a series of offers, right? You know you've got multiple offers and walking through what each one kind of means, right, how it serves you and what your bottom line might be. So it's not just you know. Hey, I think this is the best offer for you. It is. This is what this offer looks like.

Speaker 1: 6:26

This is how it relates to kind of what we've discussed you know, prior to this point you know what you were looking for, whether it's the seller side and the buyer side, right, things are ever changing. I am licensed in four different jurisdictions oh where? So I am licensed in Maryland, dc, virginia and Pennsylvania, nice, and then so each of those come with different you know laws, right, rules and regulations, and in this area you get people that kind of traverse those boundaries and they're like, hey well, we didn't do that in Virginia. Yeah, you're in Maryland now. Yeah, yeah. Yeah, it's a little bit different, but I am huge on education.

Speaker 1: 7:05

I feel like that again. I want to empower people. I don't want to get at the end of a transaction and someone feels like I tricked them or they didn't understand what they were signing up for. But yeah, so I'm huge on education, huge on transparency.

Speaker 1: 7:20

Yeah, transparency that's the word, and there are certain things that I, as a licensed individual, can't do, and things even as a consumer you might be able to, but I still educate people on how it can look from a different perspective, right? So while you might be able to do it, you probably want to shy away from it because this might be how it's perceived, which is why we, as agents and brokers, aren't allowed to move in that way. So it's kind of that. You know, I can get a little long winded at times, but I feel like it serves yeah.

Speaker 1: 7:54

You know you want and then you want to be educated. Right, you don't want to feel like you're tricked, you want to be empowered. You want to feel like I'm making a choice, not my agent is making a choice or any other entity in the transaction is making a choice. I like that.

Speaker 2: 8:09

I like the way you look at that. It's like giving them the choice. You're giving them the options and they're picking, and then you give them more information on this option versus that option and how it could go.

Speaker 1: 8:19

Yeah, so I like that I provide a service. That's what this is. I provide a service. You have a goal or a problem. In many cases, I am providing you with options. I'm providing a service.

Speaker 2: 8:31

Solutions yeah, yeah.

Speaker 1: 8:32

I'm not there to tell you what to do and how to do it.

Speaker 2: 8:35

I love it. Great outlook on that. What do you think are three key components that a real estate agent should have or that clients should be looking out for?

Speaker 1: 8:44

Okay, so real estate is a people business. Point blank period.

Speaker 1: 8:52

If you don't like people if you don't, if it's, if it's frustrating, like we're saying to, to to educate, or you feel like that's not part of what you do, it's probably not the line of work for you. So it is a, it is a a people business. So you have to understand the nature of relationships, right. You've also got to be organized and on top of things, all right. So we're dealing with some big numbers, there are deadlines, and if you as an agent are unaware of those or don't find them important, you risk your client's money and lots of it. Reputation and trust too. Yeah, very much so.

Speaker 1: 9:34

And then, just kind of what you said, it's integrity, right. So sometimes it's easy to do the easy thing, but you know there are, we have laws and rules and ethics. For a reason and, as uncomfortable as some of the conversations may be at times, you need to have those conversations right. At the end of the day, you know consumers are coming to us for that service that we provide, for that. You know they want to be advised, based on their situation, and you need to, you know, not take the shortcuts. So you know people, services, you know integrity and organized seems kind of like you know, but no, you need to be on top of things, exactly no.

Speaker 2: 10:18

Imagine being like disorganized and like wait, I'm sorry, I lost that. Where is it you?

Speaker 1: 10:22

do, because you're also managing multiple clients at one time. So I think the thought is it's easier than it is, and I don't think that this is difficult work, but you have to stay on top of things and managing it. There's people that are there to help you, right, but at the end of the day, you're on the hook for it.

Speaker 2: 10:43

Yeah, exactly, absolutely. And then a little. I just want to move your screen. Don't worry, this will not make it in there. I just want to move your mic a little bit, because I think a button is like pressing on the mic. Yeah, so I'm going to move it up. Sure, thank you. Yeah, you're welcome. Let's see, go like this a little bit, like give me some Italian.

Speaker 1: 11:11

Hey, okay.

Speaker 2: 11:12

Yeah, no, I don't hear anything Beautiful. We're back Wonderful. Okay, I'm loving hey, okay. Yeah, no, I don't hear anything Beautiful, we're back Wonderful, okay, oh, I'm so excited. Where was I? Okay, thank you so much for that, of course. And then, with the current housing shortage projected to reach nearly 4 million homes by 2024, how do you guide clients through the challenges of limited inventory and rising prices?

Speaker 1: 11:34

Ooh, that is a phenomenal question and I talk about this often. So I think folks need to be a little bit more creative and have honest conversations with themselves. So one of the things that I recently talked about actually yesterday. So we all have to live somewhere, right? And as folks are aging out, for example, when I'm saying creative ways, I'm going to give you like one example. You know your parents are getting older, they're looking to downsize. Why not swap houses, right? Yeah, why not, as they're transitioning to, you know, a warmer climate, or looking to be on something that makes a little bit more sense, where they can age in place? Right, why not be in the childhood home that you grew up in? I get a lot of questions for multi-generational living or where you can have more than one family under a roof. At a time. They're changing some of the zoning regulations where you can do ADUs, so those are auxiliary dwelling units. So you have a home, you have enough land to create a smaller unit in the back, and now you become a landlord.

Speaker 1: 12:44

So there are creative ways that we as a society can help this, but that's kind of the way I encourage people, right? You know? Just let's get creative about what you're looking for, what you need, what you want. We've got these big, huge houses we're not using a lot of them and I get it.

Speaker 1: 13:04

There are security concerns or people don't want to share their homes with strangers, but there are ways that we can be a little bit creative in terms of the shortage and affordability. So it's kind of like two in one, so to speak. But that's my positive hope. You know, we live in a very expensive area.

Speaker 2: 13:23

We do.

Speaker 1: 13:24

I have to have those conversation with folks. But there's ways that professionals can help you reach your goals. But we do have to be honest and realistic about what we want.

Speaker 2: 13:37

Yes, yeah, absolutely For sure, and I want to ask you how do you stay up to date on the latest trends, laws, policies that are ever changing for you guys in the real estate world?

Speaker 1: 13:47

Oh yeah, so the Real Estate Commission helps us with that.

Speaker 1: 13:51

Good Thank goodness, but we have. So we're required to continue in education credits, right? So every two years you are required to do things like legislative update, so that's going to keep you in the know about what's going on. You're required to be part of well, I'll say you're required. In our area, most of us are required to be part of a local board, so that's a local real estate association which kind of rolls you up into the state association and then the National Association of Realtors.

Speaker 2: 14:17

Beautiful.

Speaker 1: 14:18

They're constantly disseminating information. It's in our best interest. Yes, there are webinars, seminars, networking events. Our industry keeps us fairly up to date. And then I personally, I subscribe to all of the local county and some of the municipalities. They have state sponsored or local sites where you can go and you register and you get a newsletter once a week. Some places like Baltimore inundates me every day. I mean it's a good problem to have right, you know it's a requirement, but that's what helps us stay in the know. And I tell people all the time we don't know everything because you know, at the state level laws change at a certain time. But then you have the county and then in some cases you're going to have that local jurisdiction or that municipality. But there are ways to get information, but for the most part I'm lazy in that regard. I prefer it come to my inbox.

Speaker 2: 15:14

Yeah, just bring it on in with my cup of coffee on the couch. That's it, but I learned. Yeah, I love it.

Speaker 1: 15:18

But that's the way we kind of stay in the know.

Speaker 2: 15:20

That's awesome, yeah, that's great Thanks for sharing that. And then let's see. I got so many questions that I want to ask you, let's go for it. Thank you, Given the recent fluctuations in interest rates and their impact on buyer affordability?

Speaker 1: 15:41

what strategies do you recommend to clients to navigate these challenges effectively, besides working with you? Well, so yeah, interest rates are a big thing, right, and especially as we compare them to you know the pandemic era, right, when you're kind of like sub four, three and a half percent and now we're kind of teetering upper sixes and the sevens. And this goes back to strategizing right, so you have in the mortgage world you can do buy downs, right, so that is where you're paying a lower rate for a period of time and then the rate will go up, slowly, go up. Why we're kind of doing that in some cases is the hope that there will be an opportunity in that window where the rates will be lower and then now you can get into a fixed lower rate right With.

Speaker 1: 16:25

The interest rates obviously affects your buying power. So sometimes the truth of the matter is, while you might've wanted to, your budget was a $500,000 home at, you know a 5% interest rate. You might now be at, you know, four and a quarter at 7%. So it's really your scenario and what you know, what you want to do. There are programs that help with down payment assistance and closing costs. So the more money you're in a position to put down or leverage. Some of those programs can help to offset the rate. So those are the discussions that I'm having with potential buyers.

Speaker 2: 17:01

Yeah.

Speaker 1: 17:02

You know, and you're having them with your sellers too, because they need to be aware of how we price a home Right and what to expect you know from the markets. Not that we can't get you what you want, but you know the days of a home being off the market in most markets in three days are in the past for right now.

Speaker 2: 17:23

Yes, thank you.

Speaker 1: 17:24

But a normal market is good, right, we like normalcy, right, we like balance you know Not chaos, balance Right, exactly, please. No chaos. It wasn't fun for agents either. No, no, so it's just because you're managing expectations. We do a lot Right and you just balance. Just is the name of the game in life.

Speaker 2: 17:48

I love it, and you're here to make that easier for people, giving them those options to help make that process smoother for them. It's not going to always be perfect, but you're going to try your best Right.

Speaker 1: 17:57

That's it, you know. And at least and that's the other thing, because I constantly, because I constantly get the question is now a good time to buy? Should I wait this, that and the other? And my answer remains the same Regardless of the market, you need to know where you stand now and keep your eye on the market and when an opportunity presents itself that makes sense for you, that's when you pull the trigger. That's it. It doesn't change in the market. I love that. It doesn't Period. That's it. It doesn't change in the market. I love that it doesn't Period. That's it. Yeah, that's it. Stay ready. You got to get ready, yeah.

Speaker 2: 18:26

Get ready right now as we speak. All right, so in what ways does your business engage with the local community, and how do these efforts contribute to your company's mission and values?

Speaker 1: 18:37

Yeah, so being a new startup, we as a company haven't quite gotten there, but I volunteer with my local organization, which is called Fort Washington Forward. So they formed in December of 2022, I think, and I think it was fairly awesome because we kind of started out, or they started out as a little Facebook group and then from there they just wanted to be more impactful. So with that inspiration, you know, is where I spend kind of most of my time.

Speaker 2: 19:04

And what?

Speaker 1: 19:05

do they? What do they do? I'm sorry it's called Fort Washington Forward, so I am a Fort Washington resident, and their goal is to move the city forward.

Speaker 2: 19:13

So they're big on development. Thank you, I'm sorry.

Speaker 1: 19:15

Community. No, that's all right, I didn't explain it that well. They're big on commercial development in the community, kind of a community feel. Right now we're toying with the talks of maybe becoming a municipality, so that's where I spend a lot of my time.

Speaker 1: 19:29

They introduced a farmer's market to the community two summers ago maybe, so I didn't have an opportunity to volunteer last year, but the year before they're kind of pilot um farmer's market, I volunteered there. So, um, that's what I do personally. I need to do a little bit more. I'm working on it. It's okay, we all get busy sometimes but, hey, starting up the brokerage and trying to, you know, manage all other aspects of life becomes challenging, but I do. I do what I can, you know.

Speaker 2: 19:58

Yeah, I know, you only have so many hours in a day you do so.

Speaker 1: 20:02

when I can't, I will donate. Sometimes it's the easy out, but you either have time or money. Exactly.

Speaker 2: 20:09

It's that balance we talked about.

Speaker 1: 20:10

Yeah, you rarely have both Absolutely.

Speaker 2: 20:13

And then considering current trends, where do you see the real estate market heading in the next five years, particularly in the DC metro area?

Speaker 1: 20:21

It's going to keep booming here and for obvious reasons. Right, you know you've got the federal government here. There's been a lot of development in tech. Right, northern Virginia is a powerhouse when it comes to that. You know. Amazon, q2, large data centers when we're placed just strategically, makes things easy. Right, there's a lot of opportunity in the area. So I think the market's going to continue to appreciate it here. Some folks will love it, some folks will be like, ah, but yeah, I don't think there's going to be any slump in the next five years. Like I said, we're moving more back towards a balanced market. So you know. But so the prices may not continue. They won't continue to appreciate in the rate that they were in the recent past, but I don't see things make. There's not going to be a downturn.

Speaker 2: 21:18

Okay, yeah, well, thanks for that insight.

Speaker 1: 21:21

Yeah, even with the shakeup, with kind of what's going on with the new administration. But even that, I think, is going to sort itself out in a way that we'll continue to appreciate.

Speaker 2: 21:33

Yeah, wonderful. And now, what do you like to do outside of real estate? What is making you happy? Do you have any. Well, this makes you happy, but the happy outside of the work.

Speaker 1: 21:44

I've become a little bit of an old lady. I hang around the house quite a bit, but I used to be a big traveler, so I love I've had the opportunity to go, professional and personal. Um, and then of course there's always the ever ending foodie.

Speaker 2: 21:59

So oh yeah, what are your favorite foods?

Speaker 1: 22:03

I'm kind of all over the place. There's probably not a genre of food that I don't enjoy right. So, whether it's Italian, greek food, I love a Mediterranean diet.

Speaker 2: 22:13

Oh, me too.

Speaker 1: 22:14

I live for sushi, it doesn't? Yeah, your girl likes to eat.

Speaker 2: 22:19

Yeah, me too girl, it doesn't. Yeah, your girl likes to eat? Yeah, Me too girl. I know that feeling. Trust me, I love food.

Speaker 1: 22:24

Yeah, so that's it. And then you know, I've got a couple young nieces and nephews, so they were over this weekend. I love them and they drive me crazy simultaneously. So we headed down to Smithsonian and went to the American History Museum. So I enjoy my time with them too.

Speaker 2: 22:42

Good, that's awesome. I love that. I love that little balance with family and work.

Speaker 1: 22:46

They're so they're just, I don't know, they're just adorable, but, like I said, they drive me insane sometimes too.

Speaker 2: 22:51

In the best way.

Speaker 1: 22:51

Yeah, I know they're, so they're super smart. Now I'm like how I did not look this good back then. The vocabulary is insane at they're five and eight and I'm like where they are. But I think sometimes I think it's the technology too, you know, it's just it's kind of advanced them to some degree.

Speaker 2: 23:15

It makes me curious, like where they're gonna be like when they're 10 or 15.

Speaker 1: 23:18

I think yeah uh, the my niece's vocabulary is just insane.

Speaker 2: 23:24

I love you. And then um, how do you manage the demands of running a real estate firm while maintaining a fulfilling personal life, and what advice do you have for others striving for this balance?

Speaker 1: 23:38

I don't have any advice. There's no balance. You just fit it in, you just wing it girl.

Speaker 1: 23:42

It's, it's, it's, yeah, something, Something. You just do what you can. I think you prioritize the activities for that day. Yeah, and you know, sometimes today is, you know, of the five things you're going to work on, four of them are business and one is personal. And then there's other days where four of them are personal and one's business. I'm still trying to figure out balance. I don't know that. I know it exists. I think you just try and figure it out the best way that you can. I agree, yeah, I like to believe at some point in time it'll be better balanced.

Speaker 2: 24:20

It's kind of going through that experience, though, and figuring out like whoa, I'm never doing that again. Or like this worked.

Speaker 1: 24:25

Yeah, and you also depend on people who are further down the road than you to kind of, you know, gauge what like what worked for them potentially, or what's working. But those conversations usually end with there is no balance. You just figure out where you're prioritizing for the day.

Speaker 2: 24:41

I love that. That's a good answer. I mean, it's honest, I like it. It's not like. Oh yeah, I just schedule my thing.

Speaker 1: 24:48

Yeah, some days there are yeah, the list hasn't gotten work. I've had to prioritize client calls over actually doing, you know, marketing or maybe some other business administration activities. And before I used to beat myself up, and now it's just like we'll get to it tomorrow.

Speaker 2: 25:11

Nobody died. No, exactly, it's not heart surgery over here.

Speaker 1: 25:15

Nobody died. Your client's money's okay, your money's okay.

Speaker 2: 25:19

Kids are okay.

Speaker 1: 25:20

Like nobody died.

Speaker 2: 25:22

I like that, and that only comes through experience, though, cause in the beginning, like you, freak out.

Speaker 1: 25:26

Oh my God, I got to do this right now. It just I, I, I joke because, again, getting a little bit older, you know things are ever changing. Nine o'clock is like okay, lights out, when is it? Before you could like burn the midnight oil and not patch you as much, yeah, Whereas now it's like no. But I wake up better and refreshed, versus trying to push through and then you're groggy or foggy the next day?

Speaker 1: 25:57

Yes, I know that feeling yeah, you just do the best that you can and prioritize what you need for that day. I know that feeling yeah, you just do the best that you can and prioritize what you need for that day. And then the next day the priorities may or may not shift.

Speaker 2: 26:07

I love it. Yeah, is there anything that I have not touched on that perhaps you would like to share with our listeners or your listeners? You have the floor, whether it's in regards of yourself, your business.

Speaker 1: 26:18

You kind of hit it right. So, as a new small business, you're always looking for new ways to grow and clients, as well as partnering with agents. But my goal is to let folks know I'm here for education, transparency and empowerment. Right, so it's not just buying and selling, it's all your real estate needs, right? I get a lot of questions from folks that have lost loved ones. They want to know what to do with the house, folks that are in a particular situation. They want to know what their options are, and sometimes I can't help them, but I have a phenomenal resource for them Beautiful. So I just consider myself a trusted advisor and, like I said, I'm above board and, whether I can help someone or not, I'm willing to point them in the right direction. For someone with similar integrity that can.

Speaker 2: 27:10

I love that. That's awesome man.

Speaker 1: 27:12

You're so sweet. Thank you you too. You're fun to interview.

Speaker 2: 27:16

Now my final question. You're going to be like. You've hit me on the spot. Everyone says that every time I ask this oh no, do you have a favorite quote saying, or mantra, or something that somebody has told you in your career or your life that resonated or inspired you? Would you mind sharing that?

Speaker 1: 27:30

Yeah, so there used to be like a couple sayings that I used to say all the time. One used to be in the kingdom of the blind, the one-eyed man is king.

Speaker 1: 27:45

And then I am going to butcher the other one. It was like a Sanskrit, where it is better to live your life imperfectly than to live the version of someone else's life perfectly. So you know which both kind of resonate with me, but definitely the latter one. Because you know which both kind of resonate with me, but definitely the latter one, cause you know, just be you right, you know it'll all work out, it will. You know it's there's only one you.

Speaker 2: 28:09

Yes, and whatever that looks like, yeah, I love it. These are great, great nuggets of wisdom here.

Speaker 1: 28:14

Thank you. You did put me on the spot, but I got it.

Speaker 2: 28:16

See, I told you, no, you played that off so well. I was like dang, I didn't get her. It's okay, I got it. Yes, you did Well. Thank you so much for coming on the podcast. It was a pleasure and I just appreciate your time so much.

Speaker 1: 28:28

Thank you, Lil Love being here.

Speaker 2: 28:31

Yeah, absolutely, Nicole.