Thank you so much for doing this with us! Can you tell us the “backstory” about what brought you to the Real Estate industry?
It was really a zero to 90 mph entrance into the real estate space. I was working for a company in the emerging markets sector of Payment Technology. Through my role in executive sales leadership, I connected with one of our top clients, Quicken Loans. The contact introduced me to the CEO of In-house Realty, now known as Rocket Homes. They were building a company that would bring the real estate industry into the new millennia. Once I was introduced to their leadership, they had me intrigued about the vision of their future and I was just the energy and grit they needed to bring the vision to life.
Can you share with our readers the most interesting or amusing story that occurred to you in your career so far? Can you share the lesson or take away you took out of that story?
What comes to mind is a tough topic because it’s something that professionals don’t typically discuss. I took a course at Michigan State University early in my career for Aspiring Female Leaders. One exercise we went through was for everyone to write their salary on a piece of paper and anonymously turn it in. The instructor then charted out all the salaries — It was staggering to see the wide range of salaries of the women in the room. We had similar educational backgrounds as well as professional experience, but our salary ranges varied widely. It was fascinating to me, and I wondered why or how compensation could be so different across a group of similar professionals.
Fast forward a couple of years. After completing my MBA, I served as a board member of an alumni group with my alma mater, Michigan State University (go Spartans!). It was through that group that I met an executive who would become a strong advocate and mentor for years to come. His mentorship, along with the knowledge I gained during the Aspiring Female Leaders course, helped me to navigate and negotiate into a new career with Sears Holdings back in 2011. I was so grateful to have the tools and support to help me understand my worth and to secure a new level of compensation.
I like to share this story because I think everyone should leverage support and mentorship in pivotal times in their careers.
Are you working on any exciting new projects now? How do you think that will help people?
I have been working in the real estate industry for over a decade now in various capacities or adjacencies. We have been primed for a big change in the way people buy and sell homes for some time now due to changes in technology, regulations, and consumer preferences. When coupled with the irrational nature of today’s real estate environment — including low inventory, high mortgage rates and historically high home prices — it becomes increasingly important for companies providing products and services to the real estate industry to adapt quickly and to provide relevant value to real estate agents and their clients.
Arguably, the biggest change happening in real estate right now is the legal requirement for buyers’ agents to sign agreements with prospective home buyers before providing any services, and for the buyers’ agents to find new and creative ways to earn their commission, which was historically and traditionally offered by the seller. These real estate agents are having to up their game in how they convey value to their clients to ensure they are justifying their commission with the buyer.
At Frontdoor, we’re packaging our services to make it extremely easy for real estate agents to offer the value of home repair and protection for their clients. For example, buyers’ agents can add a home warranty at closing which provides the homebuyer with protection on up to 23 systems and appliances in the home for the first year of ownership. This is incredible value for the homebuyer, because our data tells us that 1 in 4 home buyers will have a home system failure in the first 60 days after move-in.
Moreover, we’ve added additional value for the agents’ clients with our Frontdoor app, which allows real estate agents and their clients to tap into real-time expertise from licensed home experts during the real estate transaction, and after closing. We recently had a buyers’ agent in Chicago tell us that he calmed his home buyer’s nerves on the final walk-through regarding a plumbing issue by opening up the Frontdoor app and getting real-time advice from a licensed plumber via video chat. His client was able to go to closing without further concerns on that plumbing issue. This type of service is a game-changer for real estate agents, and it’s been incredibly fun to help agents repackage their value during this time of industry change!
What do you think makes your company stand out? Can you share a story?
One thing that makes Frontdoor stand out is that we all work hard, have an incredible work ethic, but also, we know how to have a good time. One example is that we have an annual event called Frontdoor Live, which is an opportunity for us to get in front of our colleagues and associates to educate them on the north star of the company, where we’re headed and in general provide information in an entertaining, unique way. I can share that for this year’s event I walked onto the stage in an airplane costume and performed my own rendition of Billy Joel’s “We Didn’t Start the Fire,” which incorporated some sales lyrics. This not only taught colleagues at Frontdoor some terminology on this industry, but it also made for a fun, engaging moment. That’s what we like to do here at Frontdoor — combine work and fun.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
It takes so many people along our career paths to get us where we aspire to go. Based on my experience, it’s not just the senior professionals who provide the teachable moments; I learn from my peers and staff all the time.
One story I’ll never forget was when I first joined Rocket Mortgage. I picked up a huge team when I started, and per my typical nature, I wanted to hit the ground running on introducing myself and the plans I was taking on. I got on a call with over 200 people and provided a run-down of who I was, and how I was there to help and what everyone’s roles and responsibilities were going to be. After I was finished, I stayed back and asked the executives in attendance for any feedback. I really wanted to make a good impression, and of course learn and improve in this new role. Well, one vice president immediately spoke up and said, “I thought that was really bad.” At first, it didn’t register that he was being serious. I thought that he might be joking or being sarcastic. But he was serious and continued to say, “That’s not how people learn here. People want excitement and energy, and what you did sounded like you were presenting to a board.”
It certainly wasn’t what I was expecting, but I thanked him for the feedback. I knew then I had to get out of my comfort zone if I wanted to truly make an impact at this stage of my career. I still use the tactics I learned from then to make things more engaging and memorable for my team and colleagues every day. I will never forget that VP for having the courage to give me that honest feedback, and I thank him, as I wouldn’t be where I am today without the skills I learned as a result.
The Real Estate industry is a women dominated industry. Yet despite this, less than 20 percent of senior positions in Real Estate companies are held by women. In your opinion or experience, what do you think is the cause of this imbalance?
It’s hard for me to believe that that’s the case, as I know so many powerful women in the industry! I honestly didn’t know about this imbalance because I’ve had so many amazing experiences working with other women throughout my career. I genuinely think the world is catching up and thanks to companies like Frontdoor, we are seeing a shift in leadership in the industry. Our CEO has made a conscious effort to elevate women leaders and people from diverse backgrounds. Four out of seven C-suite leaders at Frontdoor are female. I feel that companies that don’t elevate women and empower them to go after what they want are why we are still seeing that imbalance.
What 3 things can be done by a) individuals b) companies and/or c) society to support greater gender balance going forward?
- We all, at every level of an organization — peer to peer, leadership, top to bottom — should fully encourage women to take more risks and have the confidence to go “all in” to achieve what they want in their careers.
- Put mentorship at the forefront, whether formally or informally. Everyone can benefit from a person in their corner that can coach them in the direction they want to go. And, luckily, there is always someone out there to connect with who is happy to help with guidance based on their experience.
- Individuals and companies should encourage women to be proactive in building support groups and celebrating each other’s success, whether it’s in the real estate industry or others. For example, I started a women’s group in the Detroit area by reaching out to other female executives in the area. The goal was to instill a sense of community and get like-minded people together to discuss our unique successes and challenges across a wide range of industries. Fast forward 6 years — the group is still going strong, and many other women have joined. It is incredible to build these relationships, and to witness and celebrate each other’s successes!
Can you share 3 things that most excite you about the Real Estate industry?
First and foremost, the industry is changing quickly, and I love a fast-paced environment. I have to really keep my finger on the pulse with everything that is changing in the industry today!
Secondly, real estate is such a people business. Relationships matter — a lot. I have built so many great relationships and friendships in this industry that will last a lifetime.
Finally, the industry has been ripe for major disruption for some time now, and I’m thrilled to be a part of the evolution of this industry.
Can you share 3 things that most concern you about the industry? If you had the ability to implement 3 ways to reform or improve the industry, what would you suggest?
- Home ownership is the American Dream, but unfortunately it is out of reach for so many due to high mortgage rates and historically high home prices. As a parent, I am helping my kids by saving for their first homes because I am afraid it will be too difficult and expensive for them when they are ready to buy.
- It’s a confusing time for homebuyers and sellers and there is a lot of misinformation out there. For example, homebuyers are hearing about buyers’ agents charging their commission to the buyer. As such, the homebuyer may forgo representation when buying a home and go straight to the listing agent to make an offer. That introduces potential risk to the buyer. Personally, I would not buy or sell a home without representation.
- Even in our advanced technology world, the process of buying and selling a home is so complex. One of the senior leaders at Rocket Mortgage used to say that 50 years ago it took 30 days to close a home, and it still takes that long today. As an industry we’ve been talking about improving and simplifying the real estate process for decades, but it’s still a difficult process with heavy regulation that varies by state, county, and city. We need strong leadership in the industry to help us finally deliver a simpler process for home buyers and sellers.
What advice would you give to other leaders to help their team to thrive?
The level of care you provide your team — especially in today’s world — is so important. The working environment is harder today than it’s ever been for so many people. And it’s important to note we are all different, which leads to the fact that we all approach our work life and responsibilities uniquely. So, whether it’s the need for a more flexible schedule, or if they are in a different stage of their personal or professional lives, you have to meet people where they are to provide the help we all need. Being a leader who encourages open communication and having that empathy and understanding for your teammates is key. And if you hire the right talent and continue to nurture them with empathy, trust, and care, you will have happy, productive employees who can help you hit your goals and succeed.