By Dianna Kawell
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San Antonio REALTOR® Florence Terrell is ever the optimist, and it shows in the story of how she got into the real estate business. In 1975, her husband got orders to relocate to San Antonio. This gave the couple their first opportunity to own a home.

For Florence Terrell, CRS, GRI, PMN, who never missed the chance to attend an open house and look into a beautiful home, she was enthusiastic about the opportunity. But unfortunately their real estate agent was the type who "preferred to talk to my husband," as she says. Still Florence continued to ask him question after question about real estate in the area. Finally the flustered agent snapped, "You have so many questions, you might as well get your license."

Rather than take offense, the idea struck a chord with Terrell, who decided that maybe he was right. "When he challenged me, I thought, well this is a real possibility," she said. For the first six months or so, Terrell worked in real estate part-time, but her passion for it quickly transformed her into a full-time REALTOR®. She's been a top producer in San Antonio ever since.

After 30 years in real estate and dreaming of opening her own firm, she made the entrepreneurial leap in 2007 and opened Florence Terrell Realty Services. It's a full-service real estate business, including listing, selling and property management. "I love every minute of being an entrepreneur," she says, "and discovering every day what I need to learn to make the business grow." Terrell was recently honored by her Women's Council Chapter as "Entrepreneur of the Year" for 2009. 

Learning from Katrina

"Everything in life is a learning experience," according to Terrell. "If we look at it that way life can be enjoyable and profitable."

For Terrell, a New Orleans native, Hurricane Katrina was one of those learning experiences. In the aftermath, she provided accommodations for several family members who literally lost everything in the flood, including one nephew who had remodeled his home shortly before the flood waters hit. Terrell spent months providing the necessities and assisting her family from Louisiana to get settled into a normal life after Katrina.

"How you go through is how you get through," Terrell says. "Some people bemoaning the flood when it happened may still be saying 'poor me' today. Those who overcome and try to do something different will succeed. How we react is how well we benefit."

Terrell applies her positive outlook to today’s challenging market as well. "During slow periods, experienced agents know to work on education and improving your operations, and then you are ready for all the emerging trends once business picks up."

Even though her market is relatively stable, a recent report claims that 25 percent of homeowners are currently "underwater" with their mortgages nationwide. Inevitably, today's REALTOR® encounters frustrations among clientele. As is the case in any market, good communication will ease some of the ache felt by frustrated sellers today, Terrell says. 

"We need to stay in touch and make them aware of the good, bad and ugly, whatever it is," Terrell says. "Our job is to advise people. When there are issues, my job is to come up with solutions to help them make the best decisions about their future. Clients get aggravated when you don’t call."

While some agents go into crisis mode, which Terrell describes as "dealing with whoever is yelling the most," sometimes you must trust your staff enough to delegate. And sometimes that frustrated client must wait until you have an answer for them, "so long as you get them a message that you will respond to them shortly," she says.  

Also, it's important to find out up-front what form of communication clients prefer. "One person may want to talk on Facebook, while another may only take phone calls," Terrell says. "Find this out in the beginning."

Terrell says her business has been tremendous in recent months, with her booming property management service and corporate growth in the area, including a recent announcement that Allstate will create 600 new jobs with a new call center there. However, in the coming months much will depend on interest rates.

"We currently have a 7-month supply of homes in our area. If interest rates increase, you have an interesting situation," Terrell says. "If the value is increasing and interest rates are increasing, people on the fence may not be able to buy their dream home."

Education is Key

For this leading woman in real estate, honesty, integrity, keeping up with market trends and industry education are the key ingredients for a successful business.

Education has always been the foundation of Terrell’s success. Rather than have a single mentor early on, Terrell says she had several. "Anyone who offered their help to me, I got their business card," she says. "And when a question came up, I would contact them."

She sees great value in networking opportunities at the local, state and national levels, including involvement at the REALTOR® board and her Women’s Council participation. "Janie Martin was the first to convince me to go a Women’s Council meeting, and it really helped me to jumpstart my business," Terrell says.

"I thoroughly enjoy being with my sisters and brothers in Women's Council," Terrell says. "I love the camaraderie and the social outlet it provides, as well as learning from each other and sharing our knowledge of issues in the community. It keeps you on the cutting edge of the industry. That's what I love about Women’s Council."

Another benefit Terrell has experienced first-hand is the tremendous support system that Women's Council offers. When more than 20 relatives needed immediate accommodations in the aftermath of Katrina, Terrell’s Women’s Council friends, along with her church family, came out in full force. While Terrell had 17 relatives staying at her own home, Women’s Council member Marietta Alba donated a condo of hers to accommodate Terrell's additional family members.

"All of our Women's Council friends came and brought clothes and toys," Terrell says. "You don't know who you know until you’re in need. My family was overwhelmed, and we felt truly blessed by their caring."

Future in the Business

Success has its rewards. Terrell says she wanted a Jaguar since she was a teenager and had a picture of one posted onto her fridge. It was her nephew from Louisiana staying with her after the flood who encouraged her to finally make it happen. And recently as a 60th birthday present, Terrell was excited to finally reward herself with her dream car.

Terrell is in no hurry to retire but says she would like to cut back her hours gradually and relinquish some of her responsibilities. For this REALTOR® who worked 14-hour days for years, she would like to put herself into the role of generating business for her agents through her networking.

"Eventually, I want to check in with my staff and agents and say, 'How's it going? Did you sell something? Where's my check,'" she laughs. She and her husband Charley plan to enjoy their winter years traveling and having fun.

Dianna Kawell is editor of Women’s Council’s eConnect newsletter. Got a recommendation for our next “Broker Spotlight” interviewee? E-mail it to wcr@wcr.org.