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Making the business a family affair

By
Services for Real Estate Pros with Holler Law Firm

I used to be wracked with guilt every time I took a phone call from a client in the evenings.  My husband and kids would all roll their eyes in unison.  I used to dread turning the corner on my street every time I got stuck at the office working late.  Coming into the house would be like facing a firing squad.  Starting and running a business is one of the biggest challenges I have faced so far in my life.  I found it to be extremely rewarding each day, but boy did my family feel neglected.  Then something magical happened...I realized that if they were included in this process, we could all feel like we were contributing to something together. 

My husband was always next to me when I took those evening phone calls.  So, I started using the speaker phone so he could listen to both sides of the conversation.  We spent time during the evenings going over each real estate document's purpose and execution.  We all spent time learning the online transaction management software that my company uses to process transactions.  I'm happy to say that a year later, my husband runs a rockin' documentation team!  My 8 year old is a total computer whiz - he now thinks it is a treat to add new staff members to all of our online transactions when they are hired.  He also knows how to upload property pictures from the MLS into the online transaction.

Before, all my family knew was that I worked late and was sometimes stressed out.  Now, they have a total appreciation for what I have been doing all these years and they feel like they can actually help out to keep the stress levels down.  They all really take pride in what we are doing. 

This has been a great thing for all of us.  My kids are not only learning about real estate, but they have learned about responsibility and how to earn their allowance.  I even took it a step further with the kids.  When I have work that needs to be done that they can handle, I have them "bid" on the job and we negotiate what they'll get paid.  I figure it is never too early to teach them how to navigate successfully in the business world. 

Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection
Beth - I could really relate to your experience, I found my self nodding when you mentioned the rolling of the eyes in unison. My family now helps, both children are Licensed and I am hoping my husband will join us.
May 23, 2007 03:17 PM
Randy Young
Greenwood King Properties - Rosenberg, TX

Well, since my wife dragged me into this conversation.

After being an at-home dad for our three kids (aged 7, 8 and 10) and going now on almost 11 years, this certainly is change of pace. For one, I at least get to talk to adults, now. Sometimes, that is. (hehheh).

Gotta say, after being married for over 13 years and not really paying attention to what Beth was doing because I had the kids and my music to worry about, I could never figure out why the late hours and why she was always so stressed. Well, somehow she suckered me into this online real estate "thing" because I could be virtual, work at home and still sing. Without knowing one thing about real estate, I sure felt like I was being thrown to the wolves and I can certainly understand the "why's" now. And, while I can't say it's been heaven the whole time, I can say we have our family back. She's able to work at home more often and she can spend more time with the kids. I look back and laugh now at the times she would come home late on a Friday night and by Saturday afternoon she was ready to get back in the office. Now with her at home, she knows a little bit more about my world. Although she wasn't there when I had that assembly line of diapers, were you hon?

I do have two questions for all of you, though:

Is 8 years old too young to have our son liscensed and do you think clients would object to a 10 year old riding up on his bike to show a house?

May 23, 2007 04:53 PM
Jacob Morales - Arizona Mortgage Planner
US Bank - Scottsdale, AZ
That is a pretty incredible idea. I never thought about that and I think my wife would love to be  more significant part of my business. Thanks for sharing this with all of us!
May 23, 2007 05:18 PM
Mana Tulberg
805 County Real Estate - Camarillo, CA
Real Estate Agent - Camarillo CA
I have always said teach them while they are young. End of the month in our household is time to put together my newsletter and the kids really get involved since they personally know some of the recipients of my newsletter.
May 23, 2007 05:36 PM
Cheryl S. Miller
Long & Foster® Real Estate, Inc. - Fort Washington, MD
Maryland Real Estate, COS, Serving The National Harbor Area
I love the ideal of bidding on the job.  My nephew helps me from time to time and has been a big help to me.  Passing out door hangers, stuffing envelopes, light typing.  He is a whiz at the computer.
May 23, 2007 05:48 PM
Siha Top
Top Mortgage Company - Portland, OR

Balancing family & business is important and it takes practice, just ask any high wire walker.  Life now a days is definitely in the fast lane but some times you just have to take the scenic route to enjoy it... 

I have a a year 2 old and we are expecting another child this summer, as I read your blog I'm not so sure about the bidding thing for chores or to help out mom & dad for a monetary value, like I said I'm not too sure I'm just a new parent.  Thanks for the tip though.

May 23, 2007 06:02 PM
Rich Jacobson
Fathom Realty West Sound - Poulsbo, WA
Your Kitsap County WA Real Estate Broker
As a rule, I try to protect my evenings and family time very carefully, but there are those exceptions. My daughter has accompanied me on Broker's Opens and Open Houses. My oldest son has helped me to mow lawns of vacant listings. It can be good bonding time to have them help out.
May 23, 2007 06:43 PM
Lisa Dunn
Edina Realty - Minneapolis, MN
www.TwinCitySeller.com
It's okay to put boundaries on your time and when you work. Unfortunately there do have to be some nights and weekends. 
May 23, 2007 10:03 PM
Susie Roscoe
Signature Realty Associates - Brandon, FL
Real Estate Specialist | Brandon, FL
EXCELLENT IDEAS sharing your business life with your family.   How do you NOT let it interefere with your family life when "we make our schedules" for the most part?!?  I love the idea of bidding for work with the kids...I'll have to try THAT!! 
May 23, 2007 10:09 PM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate
I definately put boundaries on when I work. Although with the activerain addiction thing going on...my family may differ. My oldest daughter is a Buyer Agent on my TEAM, so we have a great time. She came to me 4 years ago with the suggestion and it has worked out great.
May 23, 2007 10:54 PM
Dave Sulvetta
Dave Sulvetta, eXp Connection, Gloucester County Realtor - Gloucester Twp, NJ
Realtor
Thanks for sharing that with us. You have some good ideas 
May 23, 2007 11:30 PM
Christy Powers
Keller Williams Coastal Area Partners - Pooler, GA
Pooler, Savannah Real Estate Agent
That is a great idea. I don't know how bidding would go here. I think it would end in crying right now. But it's something to work towards. Wonderful idea and great post!
May 24, 2007 12:57 AM
Steve Scheer
Realty Oasis - Metro Brokers - Highlands Ranch, CO
Highlands Ranch Real Estate - Denver Real Estate
I have never taken the kids help as far as you have, however its become somewhat of a tradition to rent a great family flick when there is a big mailing or something like that to be prepared.  Nothing like popcorn and attaching address labels.  As for my wife, she has helped me on & off on an assistant basis for years when she has down time - but in the last few years her involvement has increased and has really helped me in areas where her strengths really come through.  Its been a total win/win as I have someone helping me that I trust 100% and she gets to work on a very flexible basis.  She is the one that even got me blogging.
May 24, 2007 02:31 AM
Anonymous
Jeff Larabee, Innovative Realty

There might be some great tax advantages in here, also.  Passing "family" income to a lower tax bracker (your kids) would save you lots of money.  They could "agree" to save it for college and you could really bring big savings.  Because your kids are legimately earning their income it makes it very safe legally.

May 24, 2007 02:58 AM
#16
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!
Very nice Beth, my wife and I have teamed up for years now....kids long gone.  It has been very helpful and we enjoy working with each other so much the better.  Great Post!
May 24, 2007 06:21 AM
Laurie Mindnich
Centennial, CO
What a great post.  Including the family in the trials that you experience gives them a sense not only of who you are, but how you conduct business.  What a great lesson.
May 24, 2007 11:22 AM
Esko Kiuru
Bethesda, MD

Beth,

You sure made a smart move there. And to get your kids involved in a meaningful way grows them in ways you can't even think of.

May 24, 2007 12:17 PM
Diane Bell, Hilton Head Real Estate, Bluffton
Charter 1 Real Estate, Hilton Head, Bluffton, SC - Hilton Head Island, SC
I love how you've trained your family to assist.  Great job and congratulations to the kids for stepping up to the plate.
May 24, 2007 01:54 PM
Ryan Hukill - Edmond
405home @ ERA Courtyard - Edmond, OK
Realtor, Team Lead
That's awesome stuff Beth! You're right, they're never to young to learn and in 20 years you'll really see the value in what you're doing today. I believe one of the biggest problems today is that our kids don't know how to manage their money. Those kids are now out on their own and falling into bankruptcy and poverty at ridiculous rates! Great post!
May 24, 2007 04:32 PM
Beth Young
Holler Law Firm - Milford, CT
Been there, Done that...
Thank you to everyone for such great, supportive comments!  When I hear my 7 and 8 year olds throw around terms like contingency removals, sign offs, and SureClose, I think maybe I've really lost it.  I am so proud of my family and the entire staff at Realt-eTransAct.  I couldn't ask for a better group of people, and I'm certain that the realtors that we manage transactions for would agree.  Call us any time! ;-)
May 24, 2007 04:45 PM