Realtor counts on power of her old team
Katherine Conrad, Printed 11-8-2002
When it comes to business, Judi Keenholtz likes to be in charge.
Ever since GMAC Home Services bought her residential real estate company two years ago, prompting her to leave, Keenholtz had looked for another opportunity to work in residential real estate and lead a team.
That day arrived two months ago when Pacific Union's Danville office, which Keenholtz founded in 1989, confronted its star agents about their plans to start their own firm. They were promptly evicted, and Empire Realty Associates was created overnight, with Keenholtz at the helm.
"I've had a deep connection with this group and they had a strong desire to start their own company. They really wanted to do this and they needed a leader. I was the one. "I wouldn't have gone into business with anyone except this group," said Keenholtz, who opened the new firm in Blackhawk. "It was the right time, it was the right people. We all knew how well we worked together."
Keenholtz had worked with the agents at Pacific Union from 1989 until 2000 when GMAC entered the picture. Unenamored with a corporate structure, the group of Realtors wanted to have a stake in their professional futures by striking out on their own.
"We have something in our company I call synchronicity – all the parts come together," Keenholtz said. "By choice, these agents want to be there. They can create more powerful things together than they could ever do alone."
Keenholtz isn't kidding. She has compared the numbers and found that from January to August, her 25 agents now at Empire had done almost $245 million in volume at Pacific Union and other agencies – more than companies double that size do in an entire year. She plans to continue the streak.
"Real estate is one of the hardest products to differentiate. What you differentiate is how you interact with the consumer. You have to deliver your product so that it is easily accessed by them and personalized for them," she said. "Real estate is still a neighborhood business."
Business philosophy
The basics: "Be the best that you can be and keep learning. Having a learning attitude is the most important thing in my life."
Best way to keep competitive edge: "Listen to our consumers, anticipate what their needs are and then personalize whatever you're delivering accordingly."
Guiding principle: "In any relationship, whether it's business or personal, the predominant factors have to be trust and respect."
Self-portrait
First job: "I was a teacher, an educator, in New York. I started in nursery school and went up to college."
Word that best describes you: "Focused, very intuitive and compassionate."
Like best about job: "I love being challenged."
Like least about job: "Unrealistic expectations by anybody."
Pet peeve: "Lack of personal accountability."
Most important lesson learned: "I always feel that when you create structure you become free. When I could understand and control the financial numbers of the business, then I became free."
Person most interested in meeting: "Susan B. Anthony. She was courageous, she had a vision and she gained consensus. She did all the things I respect and admire."
Most respected competitor: "The companies that listen to the consumer and put the consumer out there first. I think about Saturn and Apple, companies that are idea companies and put the customer first."
Three greatest passions: "The passions in my business are: I want to make a difference in the industry that I'm in; I want to set new standards for achievement in the industry; and I want to create a vehicle where new talent can come into the industry. That's my way of giving back."
Judgment calls
Best business decision: "Starting my own company with my favorite people."
Toughest business decision: "Recognizing that sometimes 'no' is the best answer, especially when I love the challenge of yes."
Biggest missed opportunity: "I missed the opportunity to private label some programs that I created, that needed to be grown. To say: 'This is mine and I want to share it and grow it.' "
Acquired tastes
Status symbol: "My 26-year marriage with Michael Keenholtz and my beautiful daughter, Robin."
Favorite movie: " 'Somewhere in Time.' "
Favorite book: " 'Welcome to the Monkey House' by Kurt Vonnegut Jr."
Favorite restaurant: "Gary Danko's in San Francisco."
Favorite vacation spot: "Tuscany, Italy."
Set of wheels: "Mercedes CLK 320."
Reach Conrad at kconrad@bizjournals.com or 925-598-1427.
