Key Takeaways:
– The future of real estate is uncertain, but it is important to be prepared.
– The immersive Virtual Inman Connect online event will take place on Nov. 1-2, 2023.
– Inman Connect New York will be held on Jan. 23-25, 2024, focusing on AI and capital.
– Terri Munselle is a broker associate and managing director of The Agency Palm Desert.
– She has over 25 years of experience in the industry and is located in Greater Palm Springs, California.
– The Agency Palm Desert has 14 agents and has been recognized on various rankings lists.
– Terri’s top tip for newly licensed brokers is to analyze their agents’ business and provide value where needed.
– The Agency Palm Desert serves the Greater Palm Springs area, with agents specializing in different areas.
– The area experiences a population increase every November as snowbirds return for the season.
– The Agency is focused on its agents’ needs and provides access to a creative team and platform for marketing.
– Terri got her start in real estate after turning her country club home into a permanent residence.
– She wishes more people knew that working in real estate requires a seven-day-a-week commitment.
– A good leader in real estate leads by example and can find solutions to problems quickly.
– Nominations for the Broker Spotlight can be sent to brokeredge@inman.com.
inman:
No one can predict the future of real estate, but you can prepare. Find out what to prepare for and pick up the tools you’ll need at the immersive Virtual Inman Connect online Nov. 1-2, 2023. And don’t miss Inman Connect New York on Jan. 23-25, 2024, where AI, capital and more will be center stage. Bet big on the roaring future, and join us at Connect.
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Name: Terri Munselle
Title: Broker associate, managing director of The Agency Palm Desert
Experience: 25+ years
Location: Greater Palm Springs, California
Brokerage: The Agency Palm Desert
Rankings:
- RealTrends + Tom Ferry America’s Best Real Estate Professionals list (2021)
- Palm Springs Life Top Realtor / Small Team since this distinction began in 2019
Agents: 14
Transaction sides: 900-plus (individual)
Sales volume: $600 million-plus (individual)
What’s your top tip for freshly licensed brokers?
Analyze your agents’ business and quickly determine how you or your company can be of benefit to most of the agents. Do they need help with marketing, pitches, team building or writing contracts? Pick your top few and focus on bringing value quickly to them.
What are 5 things you’d like readers to know about you and your brokerage?
- The Agency in Palm Desert serves the Greater Palm Springs area. Some agents specialize in Palm Springs proper, some specialize in country club living, others in luxury living across the desert.
- Our Desert area doubles in population every November. Our snowbirds return like clockwork after spending their summers in their away homes, in cooler climes. Then, come November, the parties start, the golf courses reopen with fresh fairways, and people are so happy to return to their friends. In late April and May, they head out again to their primary homes.
- During the summers, we still sell homes. Our agents call clients when any home becomes available, and the buyers hop on a plane to get here fast. Summer is a perfect time to buy as one can have the home furnished and refreshed in time for the November season.
- The Agency is so focused on its agent’s needs. We have the most productive agents in the business because the agents have access to a creative team and platform that makes their marketing a step above all others, with less effort.
- I’ve worked for other large brokerages, but this is the top. The Agency has quality, not quantity, in mind when bringing in new agents or teams. I also love the access to the best PR and legal team in the industry. It’s truly agent-centric.
How did you get your start in real estate?
I have a background in Los Angeles department store buying — furniture and area rugs — then was a buyer and marketing director in a mega home furnishings retailer. I loved it, and all the world travels to source it all, back before you had to take off your shoes to travel.
It was 25 years ago that my husband and I turned our country club home into a permanent home and we went into real estate. I was in my 40s. This is very common in our area. I meet Realtors who come from every walk of life. They all find their crowd or sphere of influence in the Desert and decide to make this their permanent home, as I did.
What do you wish more people knew about working in real estate?
Having a retail background, I approached real estate as a seven-day-a-week job. The hardest part was getting training. I finally chose to pay for great coaching which for 15 years made me accountable every day to myself and my clients.
What makes a good leader?
A good leader in real estate leads by example. I was lucky to have an early broker train me how to write a contract first … then how to have a good mental mindset. He had sold real estate and understood all the issues that arose over the years from a salesperson’s point of view.
A good leader looks at problems from 30,000 feet but can bring the solution down to earth for the team to act quickly and easily.
Know someone who should be featured in an upcoming Broker Spotlight? Nominations, please, to brokeredge@inman.com.
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Property Chomp's Take:
No one can accurately predict the future of the real estate industry. However, there are ways to prepare for potential changes and advancements in the field. One way to stay informed and equipped is by attending events like the immersive Virtual Inman Connect, which will be held online on November 1-2, 2023. Additionally, Inman Connect New York will take place on January 23-25, 2024, and will focus on topics such as AI and capital.
Preparing for the future of real estate is essential for brokers and agents. These events provide valuable insights and tools that can help professionals navigate the ever-evolving landscape of the industry. By attending such events, individuals can gain a competitive edge and stay ahead of the curve.
Terri Munselle, a broker associate and managing director of The Agency Palm Desert, has over 25 years of experience in the real estate industry. She has been recognized on various prestigious lists, such as the RealTrends + Tom Ferry America's Best Real Estate Professionals list in 2021 and the Palm Springs Life Top Realtor/Small Team since its inception in 2019. Munselle and her team at The Agency Palm Desert have achieved remarkable success, with over 900 transaction sides and a sales volume of over $600 million.
Munselle's top tip for freshly licensed brokers is to analyze their agents' businesses and identify areas where they can provide value. Whether it's marketing, pitches, team building, or writing contracts, brokers should focus on bringing value quickly to their agents to help them succeed.
The Agency Palm Desert serves the Greater Palm Springs area and specializes in various niches, including Palm Springs proper, country club living, and luxury living across the desert. The desert area experiences a significant influx of residents every November, as snowbirds return from their away homes in cooler climates. The region offers a vibrant social scene and reopens golf courses, making it an attractive destination for many individuals.
Despite the seasonal nature of the area, The Agency Palm Desert continues to sell homes even during the summer months. The team informs clients about available properties, and motivated buyers often fly in to make purchases. Buying a home during the summer allows buyers to furnish and refresh their properties in time for the November season.
The Agency Palm Desert prides itself on being agent-centric. They provide their agents with access to a creative team and platform that elevates their marketing efforts. Munselle emphasizes the quality of agents over quantity when bringing in new team members. The brokerage also offers access to top-notch PR and legal support, further enhancing the agent experience.
Munselle's journey in real estate began after a successful career in Los Angeles department store buying. With a passion for home furnishings and a desire for a permanent home in the Desert, she transitioned into real estate over 25 years ago. Many Realtors in the area come from diverse backgrounds and find their niche in the Desert, making it their permanent home.
One aspect of working in real estate that Munselle wishes more people knew is the dedication and commitment required for success. Coming from a retail background, she approached real estate as a seven-day-a-week job. Training was crucial for her, and she invested in coaching for 15 years, which held her accountable to both herself and her clients.
A good leader in the real estate industry leads by example, according to Munselle. She was fortunate to have a broker early in her career who prioritized teaching her how to write contracts and develop a positive mindset. This experience helped her understand the challenges faced by salespeople and equipped her to find solutions that benefit the entire team.
In conclusion, while the future of real estate remains uncertain, individuals can take proactive steps to prepare themselves. Attending events like Virtual Inman Connect and Inman Connect New York provides valuable insights and tools for navigating the industry's changing landscape. Brokers like Terri Munselle exemplify the dedication and leadership required to succeed in the competitive real estate market. By focusing on providing value to agents and staying ahead of industry trends, professionals can position themselves for success in the roaring future of real estate.
