Welcome back to another episode of The Ultimate Agent Podcast! In today's episode, we have the pleasure of sitting down with the incredible Rachael Felan, a seasoned real estate agent with a passion for making meaningful connections and helping her clients navigate the ever-changing Austin market. From her recent experiences at a lively Trek meet to her deep appreciation for the surprises and opportunities Austin has to offer, Rachael shares her insights on real estate, personal growth, and finding fulfillment in both her career and personal life. Join us as we dive into her journey, from her accidental entry into the world of real estate to her thriving solo agent business. Let's get started and learn from the wisdom that Rachael has to offer!
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Rachael Felan is a second-generation Austinite who has always considered Austin her home base. Although she lived overseas during the early years of her life, she returned to Austin in 7th grade and has been there ever since. After graduating from the University of Texas, Rachael initially had plans to become a teacher. However, she stumbled into a job as an assistant at a commercial real estate company, which eventually led her to obtain her real estate license. Her broker at the time saw potential in her and encouraged her to pursue a career in real estate. Rachael quickly realized that commercial real estate was not her true calling and, coincidentally, her mother had befriended a woman who was looking to expand her real estate team. Rachael joined this team, working under an established agent, and gained valuable experience from one of the best in the industry. Since then, her career has taken off and she has become a successful real estate professional.
00:00:28 Austin native stumbled into real estate career. 00:04:59 Successful real estate plan nets desired results. 00:07:46 Diverse market requires collaborative analysis for pricing. 00:10:19 Seller mindset has shifted; open dialogue needed. 00:17:31 Real estate company loves relationships, prefers residential. 00:19:40 Client relationships built organically, personal connections important. 00:24:59 Austin: A city of constant surprises and exploration. 00:29:49 Lucky to pursue dreams, fill my cup. 00:33:26 Transitioning to solo agent, building a team. 00:36:14 Build a community around your passion for business. 00:39:29 Fed rate decrease attracts hundreds of buyers. 00:42:35 I am accessible through various platforms.
I. Introduction A. Brief overview of the episode with host and guest names
II. Experiencing Unexpected Events in Austin A. Recounting a recent experience at a Trek meet with oldest son B. Discovering a gas station with a great Mexican food truck C. Arrival of 30 motorcycles, including custom-painted ones, at the gas station D. Love for Austin's ability to surprise with unexpected events and attractions E. Desire to go to Barton Springs for a quick dip during a recent drive
III. Real Estate and Exploring Opportunities A. Coming across a house listing that would be perfect for someone B. Excitement and appreciation for the evolving and endless opportunities in Austin C. Living a life of fulfillment and taking advantage of opportunities D. Having the support of family and the desire to make things happen E. Real estate providing flexibility and financial stability F. Engaging in activities like coaching son's basketball team and community service
IV. Background in Commercial Real Estate A. Working for a large commercial real estate company B. Experience in property management, leasing, tenant services, and land development C. Role mostly behind the scenes, attending meetings in an assistant capacity D. Enjoying the personal aspect of residential real estate more than commercial
V. Fear and Selectivity in the Real Estate Market A. Fear of making the wrong choice in an unstable market B. Fluctuating interest rates and inconsistent property pricing C. Differences in equity and ownership timeline affecting willingness to sell D. Need for buyers to be open to different areas but cautious about spending
VI. Challenges and Shifting Market Dynamics A. Showing million-dollar properties that don't meet client criteria for purchase B. Buyers being selective and looking for properties that meet all requirements C. Shift in real estate market operations and potential profits for sellers D. Alternative options such as renting out properties instead of selling E. Difficult conversations about finding the right price in a shifting market
VII. Providing Personalized Service and Support A. Focusing on people and being a good listener and life coach for clients B. Open conversations and flexibility with outcomes to help clients achieve goals C. Applying personal narrative and real-life examples in newsletter content D. Incorporating real estate into social media presence and newsletters E. Compass providing easy-to-use content for clients, such as recipes and local happenings
VIII. Building and Maintaining Client Relationships A. Business growth through personal relationships and referrals B. Developing personal relationships through kids' school and nonprofits C. Keeping in touch through social media, texting, lunch, and regular correspondence D. Sending a weekly newsletter with a high open rate and value-focused content E. Staying in touch with past clients through cards, parties, and special offerings F. Quick response and ability to provide needed information to clients
IX. Adapting to Shifting Real Estate Markets A. Experience in different markets and recession in the real estate industry B. Multiple market experience in both selling and buying C. Unusual and constantly shifting Austin market, not following standard price points D. Evaluating property values considering factors like amenities and updates
X. Transitioning and Future Plans A. Transition from being part of a team to being a solo agent B. Consideration of bringing in a buyer's agent or building own team C. Addition of a marketing assistant and plans to hone skills and delegate tasks D. Goal of focusing on interacting with people, learning real estate, and involvement in organizations
XI. Personal Background and Real Estate Journey A. Being from Austin and growing up there B. Attending the same high school as dad C. Living overseas for a portion of life D. Getting into real estate by accident after graduating from UT E. Initial thought of becoming a teacher F. Falling into an assistant position at a commercial real estate company G. Encouragement from broker to get a real estate license H. Realizing commercial real estate wasn't the right path and joining a real estate team I. Learning from an established agent and having a successful career from there.