In episode 6 of The Millionaire Real Estate Agent Podcast we welcomed Kristan Cole, a real estate powerhouse who has built an empire of over 1,500 real estate agents spanning 45 states. From humble beginnings to navigating the challenges of an industry in crisis and emerging as a leader, her journey is a testament that market conditions don’t have to dictate your success.
After graduating from the University of Arizona in 1984 with dual majors in real estate and finance, Kristan quickly realized that traditional education had not prepared her for the practicalities of selling real estate. Understanding that relationships are key, yet lacking modern CRM tools, Kristan constructed her database from scratch, leveraging word of mouth and “farming” in an area closer to her home with higher sales prices.
In 1984, the national mortgage rate was 13.88%.
Despite the challenges of the market in the ’80s, with soaring interest rates and a massive recession, Kristan’s dedication to her work and family set the foundation for her success. Where others saw roadblocks, Kristan saw opportunities, and she forged a blueprint that distinguished her from her peers.
- Be solution-oriented.
During the recession, Kristan recognized that banks needed help managing the influx of repossessed properties, so she pitched her services and secured contracts with institutions like First National Bank of Alaska. By positioning herself as the solution to the banks’ property management challenges, she not only survived the recession but also established enduring partnerships.
- Don’t sacrifice family time.
Juggling her real estate responsibilities with her children’s events, Kristan adopted an unconventional approach to time management. Her kids became integral to her business, helping with tasks like putting labels on postcards in the car and contributing to the family venture.
- Manage your life to your decisions.
When faced with skepticism, Kristan simply made her decision and diligently managed each day in alignment with that choice, making her aspirations a reality. She effectively used her adversity to power her decisions and build a big life.
Kristan’s journey from new college graduate to real estate magnate offers valuable insights into resilience, adaptability, and the power of a solution-oriented mindset. Her story serves as an inspiration for aspiring entrepreneurs, proving that success often lies in seeing opportunities where others see challenges.