Editorial
Front Page - Monday, September 28, 2009
Conway Realtor says getting laid off led to better career
Ethan C. Nobles
Special to the Daily Record ecnobles@att.net
Before 2005, Lisa Burks was working for the state of Arkansas in a job where she filed and adjudicated unemployment claims.
“Basically, I decided who paid under the law and who didn’t,” she said. “It was a big responsibility. It was a real high-stress job.”
After series of budget cuts left her without a job, Burks decided to pursue a career that she had taken a look at in the past – real estate. She started as a Realtor in 2005, worked for a couple of companies and then, by the end of 2006, wound up in her current job at Faulkner County Realty in Conway.
“In the mid-1980s when interest rates were so high in the recession, my dad thought though I should go into real estate,” Burks said. “He thought I’d be good at it. I never forgot that.”
Burks said her job working for the state prepared her quite well for a real estate career. She saw first hand what happens to people when they lose their jobs and go through tough financial times. People struggling to make ends meet often get trapped in a downward spiral which can lead to losing homes.
The lessons learned from that experience was invaluable to staying afloat when Burks entered a real estate market that had boomed from around 1999 through 2005 and started slowing in 2006.
Burks learned in a hurry that budgeting, hard work and being exceedingly careful with her money were crucial to establishing a real estate career during rough economic times.
“Business has been good for me. Each year, I sell more than I did the year before,” she said. “I just keep at it. You get into real estate or it gets into you. It got into me and I love it.
“I made it. It (getting established) taught me how to budget my money, how to save my money. It taught me how to live on a commission income.”
Also, Burks said there was a period of about nine to 12 months after she got into real estate when she found it very difficult to make a living.
“That’s when I could have bailed, but I didn’t,” Burks said, adding that she took advantage of that down time by getting some additional training, learning how to specialize in foreclosures and bank-owned properties and generally learning all she could to have an advantage.
“If you’re in this business, you’ve got to be adaptable,” Burks said. “You learn every day. It’s when you think you know it all that you’re in a lot of trouble.”
One thing Burks learned in a hurry is that it was very important for her to keep track of the changes impacting real estate markets. For example, what loans are available to people wanting to buy homes, is it still possible to get “0 down” loans and what changes have banks made to their lending requirements?
“About the time you think you’ve figured everything out, another change pops up,” she said.
Burks also learned that it is critical for Realtors to find offices that suit them well.
“I sort of found my niche but you have to do that when you’re in this business,” she said. “It was a good fit for me.”
She found that good fit at Faulkner County Realty, a small office that has been in the same location since 1983. Burks found her way over there after dealing with a Realtor at Faulkner County Realty, being impressed with the professional way in which he conducted business and asking if there was a spot for a salesperson.
Burks said there are only six full-time and two part-time sales agents in her office, but they work well together and treat their clients well.
“We’re no frills. We just sell a lot of real estate. We have integrity and honesty,” she said, adding the training available at the office is second to none thanks to brokers who have been in the industry for a long time. “They have trained us really well. There’s not anything that doesn’t come up in real estate that – at some point – they haven’t seen before. They can tell you how to handle it.
“To me, that’s peace of mind. I’m not concerned I’m going to have a problem down the road.”
Also, Burks said she enjoys the laid-back atmosphere and the flexibility of the office – something that was critical to her because she is a single mother who was raising a son, Christopher, who is now 18 years old.
“I just thought real estate would be a good career for me to get into,” she said. “I’m thankful I did and am grateful for the opportunity. I can’t see myself doing anything else
now.”
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