Episode 211: Teran Peterson
On this episode of The Brad and Taylor Show, we sat down with Teran Peterson from Real Broker LLC!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a transcript of the conversation…
Here’s what you missed from Teran Peterson…
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Taylor: Welcome to The Brad and Taylor Show. Today we have Teran Peterson.
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Brad: You’re listening to The Brad and Taylor Show, a podcast that inspires entrepreneurs to pursue their passions. We’re sitting down with some of the best to learn how they got started and some lessons they learned along the way.
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Taylor: Hey Teran.
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Teran: Hi. How are you guys?
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Brad: We’re good.
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Teran: Another day, another beautiful day out. I mean, it is 40 degrees and Wisconsin in the winter. I love it.
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Taylor: Yeah. It’s about 50 here today, so we’re good.
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Brad: Awesome. Well, let’s get this show started. Tell us a little bit about you. What do you do?
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Teran: I’m a realtor. I sell houses. I help people buy houses. I sell houses and fascinating property is all this.
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Brad: Alright. Awesome. I like it. So back in the day, how did you get into real estate? Like how did that happen?
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Teran: I’ve done a little bit of everything in real estate. So I started as an office manager in college and then became like a leasing agent for that apartment that I lived in. I got a discount on my rent and then from there, I became an executive assistant to a realtor. And when he moved up to become a broker of the company, he didn’t really need an assistant anymore. And part of my training with him was to get my license. And so by the time I was no longer needed as his assistant, I had my license and I had to make that decision like jumper don’t and best decision ever.
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Brad: That’s awesome. I like it. So how’d that first transaction go when you were by yourself, did you just go for it?
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Teran: Nothing is ever easy. Nothing, nothing worth having is ever easy. But I have, it was actually a high school friend of mine who bought it with me. It’s kind of funny. It was a great transaction when she purchased it with me. Later on three or four years later, when she decided to sell it became a whole chaotic bit. But like that first transaction, it was not terrible. I’ve had worse transactions.
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Brad: That’s good. That’s good. So how’d you go from that not-so-good transaction to where you’re at now?
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Teran: These days systems are really, really important to me. I hired a transaction coordinator. Who’s actually a broker herself. Just managing my calendar is super important when you’re juggling eight or nine clients. And then having people in my system that are better smarter than me. Like, I’m really good at what I do, but I have a really, really great photography company and I have a really, really great title company and I have a really, really great lender. And by like everybody being really great at what they do, the entire process becomes better for the client.
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Taylor: Yeah, absolutely. I know you said that you kind of have a big amount of your past jobs were in real estate, right? So you had the background of all of those leading up to what you do currently, when you made that transition over into being a real estate agent, did you get advice that stuck with you that really helped you that first year?
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Teran: The biggest piece of advice is to save that money. You know, in real estate you only get paid once everybody else gets paid and you’re self-employed on top of it, meaning there’s no salary, right? If you don’t have any closings, you don’t have any money. So that, that was the biggest change from being like a property manager into being a realtor, and having to have a very tight budget, and be able to predict, to be able to work my sphere so that I always have a couple of clients that are kind of looking at a couple of clients that are hardcore looking a couple of clients that have an AOL and a couple of closing or a couple of clients that have just closed. So that way I keep this leg wheel going. Yeah.
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Taylor: Yeah, absolutely. So you’re always doing something right?
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Teran: Absolutely.
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Taylor: What is the worst property that you have been to, or the worst showing, what one sticks out the most?
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Teran: So the top of like the first thing that popped in my head is one time I was doing a showing and I dropped the key in between like two slats in the wooden deck. But like the worst house, honestly. I mean, I’m a pretty big stickler for inspections. I’m a pretty big stickler for protecting this asset. This is an asset that most people, this is the biggest thing they’ll ever own in their life. So if I can tell from the pictures and the real estate condition report and like general knowledge of when the house was built, things like that, that this is going to be like a terrible, terrible house. Like let’s just skip it also technology with Matterport these days, you can truly walk homes without actually having to go inside. I really do my best to like avoid wasting everybody’s time. So if it looks like it’s going to be a total dumpster dive, let’s just move on.
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Taylor: I have a question going back to the key. Did you all lock the door before you dropped it?
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Teran: Yup yup. Oh, and I was out and I was trying to leave.
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Taylor: So that makes it a little better?
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Teran: But I can’t, I mean, you can’t like leave a house on lock. So I had to call the agent and then I had like, it was just, it was a whole thing and it was so embarrassing. My clients are standing there looking at me and I’m just like staring at the ground. Like, what do I do?
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Taylor: Yeah. You can’t, you can’t really get it. I mean, if all is blocked off underneath that deck part, then it’s just gone. They’re going to find it years later. What kind of goals do you have in place that you want to accomplish in 2022?
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Teran: So my goal for 2021 was consistency. So what I was talking about earlier, as far as LA, you know, two years ago, I had one closing in January, and then I had 15 closings between July and October. And that is not a healthy way to live. I don’t care how many budgeting skills you have. Like that is not a good way to be. So my 2021 goal was to be super consistent and to at least have two closings a month and I have accomplished a lot in seven months of that. So I’m super proud. In 2022, I am intending, I’m getting my broker’s license. So I’m in school now taking the Humana course. It’s kind of mind-numbing, but like, it’s good to always continue to learn. I think that I can probably do 7 million in sales volume, before having to add to my team. So maybe in 2023, I’ll be looking at adding a buyer’s agent or buyer buyers, agents to the team. But to keep keeping those structures about 7 million in sales would be a good place for me, I think, and finishing up my broker’s license that’s right.
00:07:29:05 –> 00:07:35:18
Taylor: Yeah. Those are really good goals and congrats on keeping that consistency going all this year. That’s awesome that you were able to do that.
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Teran: Thank you. Thank you. It’s all about working that sphere. Yeah.
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Brad: Yeah. So let’s say you had to start all over today with all the knowledge you had now. What is one thing you would change?
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Teran: Probably my brokerage that I started with, I think I am totally enamored with where I am now. I love my team. I didn’t realize back then, how much my broker impacted my business. Not just, I mean, people talk about the commission and splits and all of, you know, transaction fees, but for me, it was really personality and I wanted my current broker to be aligned with me a hundred percent on who we want to be. Our morals and our ethics.
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Brad: That’s awesome. What’s your favorite book you’ve read?
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Teran: I am a huge reader. That is a very loaded question. I think one of my favorites is, I found it a thousand splendid suns. It’s by the same author of the Kite Runner. I won’t give any secrets, but the last chapter is absolutely mind-blowing when you hear about the stories that are happening in other countries and compare that to how privileged and how lucky we are to have the things that we have here.
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Brad: That’s awesome. Well, how can people get ahold of you?
00:09:05:03 –> 00:09:18:21
Teran: Email Facebook, Snapchat, whatever, uh, [email protected], sunprairierealtor.com is my website and on Facebook, it’s Teran Peterson with real brokers.
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Brad: Sweet. Awesome. Hey, thanks for coming on and sharing your story with us today.
00:09:22:00 –> 00:09:23:22
Teran: Absolutely. Thank you for having me.
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Hello. Hello. Are you there? Are there, are there, Hey guys, we just wanted to thank you for listening on either a podcast or on the YouTube video here. If you guys wanted to subscribe, that would be awesome. That would mean a lot to us. If you guys could give us a five-star review as well, that would be amazing. And we’ll see you on the next one.
Check out Teran Peterson:
Real Broker LLC
www.homesnap.com/Teran-Peterson
Facebook: @TeranPetersonRealtor
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