Hello everyone,
I had the pleasure of interviewing the CEO and Founder of Dane Warren Real Estate, Dane Warren. He was a wealth of knowledge and I was able to learn more about entrepreneurship and real estate from him. At the end of our interview, he said something that really stuck with me: “A successful sales career is the best job out there if you are good at it”.
Enjoy!
Please tell me a little more about Dane Warren Real Estate and why you decided to start it.
Dane Warren Real Estate is a mid-sized company located in Matthews, NC. The reason I wanted to start this business was to gain more opportunity and more money. I have never been the type to like having a boss and always dreamed of owning and running my own business. I could have chosen to go to a large realty firm, like Allen Tate, but new that if I decided to start my own firm, I would be in control and my own boss. This was a huge opportunity for me, so I decided to go for it.
What challenges did you face while starting this company?
I faced several challenges when starting the company. First, I had no mentor to guide me, I was on my own. Second, I had limited financial assets. Third, I had no one to provide me with referrals and leads. I had to do everything on my own, and it was a struggle at a lot of points.
When problems arise, how do you and your management team resolve them?
My team comprises of myself, my wife (CFO), two administrative broker assistants, and 54 brokers. When problems arise, I first train my management team to not blow up in the clients’ face, that will do nothing but make the situation worse. Second, we play the peacemaker and try to find common ground to resolve the issue.
How have the experiences you have had during your entire career influenced the way you now run your own company?
Each experience I had during my career helped develop my idea towards change and technology. I am now able to better adapt to the changing times and relate better to my clients. I have also always stuck with my same common core marketing approach. Throughout my entire career, it has been successful, so I have not stopped.
When someone joins your company, how do you orient them as a member of your team?
When we get a new employee, we provide them with a basic orientation of the company. The type of orientation a person gets really depends on how much of an asset the new team member can be. If we already know a team member is going to be on our A-team, we orient them in a slightly different way to prepare them. I have a saying that I give new employees, who are not on the A-team:
“I am going to throw you a ball. If you catch it and get it in the end zone (make us money), then I will throw more balls at you” – Dane Warren
How do you select people to join your company?
To select people for the company, they must go through an interview process with a managing broker. Another saying I use is: “If you can “fog up a mirror” our broker firm may take you on”.
What culture does your company aim for?
We aim for a family culture. I always have an open door, and anyone can talk to me if needed. This can tie into your last question a little bit; I am always looking for people are ready, willing, and able to sell a house.
How do you motivate and reward people?
I motivate by showing how I have succeeded for over 21 years. I motivate by believing in the products because they have treated me so well. I reward by generous commission split between all brokers.
How are things going in your company currently? Are you down-sizing, staying as you are, or looking to grow?
My company is approaching 1 billion in sales volume. We currently have the largest number of brokers working with us up to date. We are also in an excellent market currently because the real estate market is so great.
How do you keep up with the best practices in your industry?
To do this, I constantly monitor the rock stars in the business and see how they are doing what they are doing. How are they succeeding? What can I bring to my company that they are using?
How do you keep up with the growing technology field?
Again, I look at the top producers in the Charlotte market and analyze what they are doing and what is working. I always make a point to be doing similar things to those top producers. I also listen to my clients and see what they want in regard to using advanced technology.
Could you describe a typical day on the job?
As CEO, my schedule is scattered and actually pretty relaxing. I wake up, get coffee, browse e-mails/phone calls/texts, go to the gym, browse e-mail/phone calls/texts again, go to the office if needed, then go home. It is like this almost every day and I enjoy it a lot.
How did you first enter your line of work?
I first went to CPCC and got my salesman license in ’96. We were using Windows 95 as our operating system. In ’97 I went and got my broker license to start his own company. I knew it was what I wanted to do.
What kind of formal education and additional specialized training would you recommend that a person should acquire to enter a profession like yours?
Well, there is no formal education required for my line of business. You would need to have a Real Estate License and be a Certified Residential Specialist.
What advice would you give to someone looking to join the real estate industry?
It helps if you like people and you are good at communicating with them and building trust. If you are not an extrovert, you better have a really good marketing plan. You also need to find a firm that fits your best interest. If you are more dominant and do not need a “cheerleading” organization, a mid-size organization is a good fit, like mine. If you need more hand-holding, big companies will be better for you, like Allen Tate.
Thanks for reading!
Taylor Warren
