Hey there! 👋Every day is an opportunity to do something wonderful. And if you've got your eye on starting or growing your small business, over time, small steps can yield solid results. So make the most of today.
Hope you'll subscribe to this newsletter to keep the tips coming directly to your inbox.
Share this article to spread the knowledge about what we, Latinos, are doing in the business community.
In today's Tip Jar, Norkis Fernandez-Valdez shares the basics she believes are critical to making your business thrive. She also discusses expectations.
But first, let's get to know how this realtor became a powerhouse real estate broker/owner.
WHAT CHANGED EVERYTHING
“In the winter, we could not take her out. It was just unbearable. She would turn blue, stop breathing. Just really difficult. Very scary.”
Norkis Fernandez-Valdez’s middle daughter was born asthmatic in New York City, the day before the September 11th attacks.
Numerous trips to the hospital for her asthma meant the family would have to make a big change in their lives.
INDUSTRY: Real Estate
STARTED BUSINESS: Jan. 2015 (Became a partner)
2019 – Franchised business
LATINO/HISPANIC CONNECTION:
Born in the Dominican Republic
Parents are Dominican
EDUCATION: Cornell University – Bachelor’s degree in Health Administration
DREAM JOB AS A KID: “It’s funny because I always said I wanted to have my own office. But it was a modeling office… So maybe I wasn’t specific enough when I manifested?”
Norkis playing "Office" as a kid
BIGGEST GOAL YET: “To be like my dad. He [was] so loving and giving.”
“I want that the day that I pass, I want everybody to remember me like they remember my dad.”
Norkis with her beloved late dad
FLORIDA OR BUST
Fernandez-Valdez thought she’d continue working a regular 9 to 5 job when they moved down to Florida. And she actually did that for a year. But since she and her husband had flipped homes on the side for years, she decided she’d go for the dream.
“Let me venture into what I really love.” That was real estate.
So she got her license as a mortgage broker. But it didn’t go so well.
“I didn’t love it so much because it would break my heart when I had to tell somebody they didn’t qualify for a loan.”
THE CORE PASSION
So she decided to zero in on her core passion – real estate.
She started working at a real estate firm.
“That’s where I got my foundation and a lot of my good trainings.”
Fernandez-Valdez was on a roll. She liked the structure. She loved the job. And she and her husband had racked up investments in other properties.
That was until the bottom fell out of the market and the economy went into a tailspin.
LOSING IT ALL... BUT LEARNING A LOT MORE
“And we lost about 12 houses when the market crashed in 2008.”
“We lost it all… from having everything… [to] not having anything, it was an amazing eye-opener for me, too, because you kind of learn to value everything more.”
She also experienced another eye-opener. When her uncle decided to buy a property from her, she realized she would only get to keep about $9,000 of a $19,000 commission.
A BETTER WAY
There had to be a better way. So she moved to La Rosa Realty, where it was a 100% commission model.
Fernandez-Valdez gets a little emotional as she recalls, “I started investing more in my business, doing more marketing… hiring an assistant and stuff like that. And that’s when my business truly blossomed.”
When the agency’s founder, Joseph La Rosa, saw how well she did, he offered to make her the office manager. For two years, she politely declined.
"Because you always doubt yourself and stuff. And even though I was always an entrepreneur, you're always afraid."
HOW 'BOUT A TRYOUT?
And then one day, she agreed to try it for three months. But only if it wouldn’t be made public – and only under certain circumstances.
Fernandez-Valdez had a clear vision of what she thought she could achieve and how – so she spelled it out to the agency’s founder.
She told him, “I have to remodel the office. There’s a special look, a special feel I want to offer to the agents.”
Fernandez-Valdez said the job of office manager, basically, meant she’d become a recruiter, encouraging other agents to come and work for La Rosa Realty.
Within a month, the office went from 20 agents to 40 agents under her plan.
A DIFFERENT VIBE
Norkis becoming partner at La Rosa Realty
She says it wasn’t just a different look and feel to the office. But she says, it happened because the vibe was different. The energy was different.
“I’m a firm believer that when you keep it real and you do things from the heart, it shows.”
Fernandez-Valdez wasn’t going to let the growth stop there.
She became a partner at La Rosa Realty.
That’s when the boss at her former real estate agency tried to lure her away with a great deal.
She was flattered and honored.
THE BIG OPPORTUNITY
“But, you know, honestly, I’m grateful for this man [Joseph La Rosa] that saw in me something that I didn’t even see in me and gave me the opportunity.”
So she stayed at La Rosa Realty.
La Rosa Realty’s founder gave her the runway to do more.
Her mission was to get 100 agents. She says they were able to draw in 200 agents in one year’s time.
EXPANDING THE VISION
Her vision expanded.
“We hired a lot of new agents that recently got their license.”
She said, what the agents learned in school was nothing like what they were going to be doing in the real world. But she knew how to prepare them.
She focused on “… guiding them, implementing the coaching program that I did - so that they had a mentor, a coach that was going to hold them by the hand, hold them accountable and help them.”
Fernandez-Valdez implemented an educational calendar, with live classes every day of the week and a binder that she believes contained everything to guide them to success.
Positivity all around
THE NEXT LEVEL
In 2019, she turned the business into a franchise and now owns 100% of it.
Today, she has 400 agents and is about to take the franchise public.
But Fernandez-Valdez doesn’t make illusions about how tough the business is.
“Some people, specifically, real estate, get their license because they think they’re going to become automatic millionaires.”
REALITY CHECK
They think they don’t have to work.
She’s quick to provide the reality check.
“I tell people, that’s not true. You need to work. Like anything. Whatever you put into your business, that’s what you’re going to get out of it.”
Then she offers what she believes is her secret to success.
FORMULA FOR SUCCESS
“I was always very consistent about going to the office. I kept my corporate role in my head. So I would go to the office, 9 to 5… If you’re disciplined and you’re organized and structured and you follow through, you will get there.”
To help with the organization part, she says her calendar is the key.
“I add everything to my calendar. Everything. Because that keeps me on track. And if it’s not on my calendar, it’s not going to happen.”
She believes delegating tasks is also important. And this is coming from somebody who knows that’s hard to do.
“It was extremely difficult for me to delegate because I’m very hands-on. And, sometimes, we have that limiting belief that, if we don’t do it, it’s not going to be done correctly.”
In the end, it all boils down to the basics for her.
“Regular open houses, having a physical connection with clients, door-knocking.”
She knows technology helps, “… but keeping it basic. That’s the secret sauce.”
A BLESSING IN DISGUISE
And, sometimes, it’s something negative that can really turn out to be a blessing in disguise.
In her case, it was her daughter’s asthma that set everything in motion.
And, in the end, as soon as the family moved down to Florida, her daughter stopped having to be rushed to the hospital because of her asthma.
Something frightening set into motion hard decisions. Eventually, it pushed Fernandez-Valdez into choosing a new life of opportunities for herself and her family.
Norkis Fernandez-Valdez with her husband and daughters
THE TIP JAR (tips passed out courtesy of Norkis Fernandez-Valdez)
STARTING OUT: “For the person that’s just starting, I would tell them not to be a secret agent.”
“A lot of them get their license and they’re like, okay, now I have my license. What do I do? Well, if people don’t know what you’re doing, they’re not going to reach out to you… And, some of them, honestly, they’re like secret agents. That’s what I call them. You have to carry your name tag.”
Fernandez-Valdez suggests you publicize what you do on social media – and do it consistently.
“Consistency is key in anything you do.”
STEEPED IN SKILLS (mid-career): “Again, structure, consistency and follow-through. With systems in place and what we offer, they’re able to create the business that they want without the overhead. And it’s the… structure. You don’t have to reinvent the wheel.”
STARTING OVER: “I would tell them, [focus on] what made them successful in whatever it is that they’re doing… and implement it here."
"Again, they’re older. So their mentality is different. Their maturity level is different. So, in real estate, it’s pretty much about consistency and follow-through. Because you can get a client, but if you don’t give them the communication that they deserve, the knowledge and the education, then you lose them."
"We’ve gotta be real. This is a very competitive industry. There [are] about 27,000 realtors. So why would someone want to pick you and work with you?”
Fernandez-Valdez says you need to answer the following question: “What difference are you going to make in their experience in buying their biggest asset?”
I’LL NEVER DO THAT AGAIN: “A lot of agents, new agents, like I said, get into the industry because all real estate agents, you know, are ‘millionaires.’ They drive Ferraris and have the best bags and the best outfits and stuff. And not everything on social media is true.”
“I have some people that post, you know, they just bought this brand-new car and, honestly, the numbers don’t match up…”
BEST ADVICE FROM “LA CASA”/BEST “HOUSE” ADVICE:
“My dad was always the encourager.” He would tell her, “Mami, tu puedes lograr todo lo que tu corazon desea, siempre y cuando tu ayudes a los demas.”
LOOSE TRANSLATION: Sweetie, you can achieve anything your heart desires, as long as you help others.
Norkis as a little girl with her dad
NO NEED TO GO IT ALONE
HELP ON THE OUTSIDE...because we can all use a helping hand:
Encouraging Black-Owned Startups
I don’t think there are enough stories about Afro-Latinos and, especially, about Afro-Latino business owners. So if this is a group you identify with, or if you know someone who does and would benefit from learning more about starting their own business, take note. This FREE webinar will teach you everything from getting capital, to networking to coming up with your business plan. Details and registration link are below:
SCORE (Service Corps of Retired Executives) & the Equitable Foundation
“Keys to a Successful Black-Owned Business Startup”
Tuesday, February 22, 2022
Virtual Webinar
1:00 p.m. EST – 2:00 p.m. EST
FREE
https://www.score.org/keys-black-owned-business-startups
WORKING ON THE INSIDE...because we know our culture has a hard time asking for help:
Self-Care Through Social Connection
This webinar’s description resonated with me because it focuses on self-care, not as an individual exercise, but through our connection with others. It will provide examples of activities you can do with work colleagues and through acts of kindness with others. Basically, you’ll heal yourself by learning about ways to help others.
Webjunction
“Taking Care of Self, Staff and Community”
Thursday, March 10, 2022
Virtual Webinar
FREE
https://www.webjunction.org/events/webjunction/taking-care-of-self-staff-and-community.html
INSPIRATION FOR THIS ISSUE:
Norkis with her mom
There are so many lessons we can draw from the experience of Norkis Fernandez-Valdez.
Invariably, we’ve all experienced something “terrible” that somehow led us to something positive.
Using a negative experience to lead us to something better is such a key lesson to learn in life. Because I assure you, sooner or later, there will be bad days for all of us. And it’s up to us to “find the positive” till the good days roll around again. They always do.
What's also noteworthy about her experience is that her first job in real estate didn't turn out to be a good match. Instead of ditching the industry altogether, she kept searching for the position that would be the right fit.
But I also think Fernandez-Valdez's focus on organization and consistency is important. Learn from her. Find what system works for you.
Research has shown that the more you write down your goals, the likelier you are to achieve them. How much likelier? Well, Inc. magazine cites a study at California’s Dominican University which shows that you’re 42-percent likelier.
Finally, I think Fernandez-Valdez's loyalty is something to be noted. Even when her former agency tried to poach her, she stayed loyal to the boss who believed in her.
There’s something to be said for loyalty, especially in today's world.
Norkis Fernandez-Valdez - CEO/Real Estate Broker/Owner
🌴 If you found value in this article, please share it (share button is at the top).
🌴 If you'd like to support this independent Latino publication, subscribe for free.
🌴 Connect with me on social media: Facebook, Instagram and Twitter.
🌴 Have a fantastic weekend!