As you may have heard, I have decided to sell Reecer Properties to Encore Sotheby's International Realty as of January 1, 2019. The following are some questions I was recently asked by the Journal Gazette, so I thought I would share them with all of you in this first Portfolio Insights of the new year. Please do not hesitate to call me to chat about this exciting new venture, I love hearing from you!
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Q. Why are you selling Reecer Properties?
Launching, growing, and managing Reecer Properties was a dream come true, but after eight years of leading my boutique company, I realized it was time for a change. There were a few reasons for this.
First, I want to spend less time on business and personnel management and more time on doing what I love most: advising and consulting with clients on their real estate needs. Leading Reecer Properties through hundreds of real estate transactions has taught me so much, and I am ready to take this knowledge to help others get the most out of their real estate investment decisions.
Second, it’s time for me to be more available to visit and help my three adult children who live in distant cities around the country. This will become even more important as they start families of their own some day! I also want to spend time with my best friend and husband of 31 years, our aging parents, and our extended family and friends.
Third, I need to take better care of myself. Last year, working two full time jobs as the Managing Broker/CEO/owner and heading up a sales team of 25 people quickly became too taxing on me. I was getting sick all the time and feeling run down. I’m looking forward to less stress and a healthier work-life balance. (So far, so good!)
This doesn’t mean that I’m scaling everything back. I will still spend time on my other business passions, such as Brookwood Cabinet Company, NE Indiana Talent Attraction, and my luxury auction business, which is being re-branded after the sale of Reecer Properties.
Q. Why Now?
Since about 2014, I have toyed with the idea of selling. Over the years, we’ve had serious discussions with a few other national brands about selling. In fact. just last year I received an offer from an investor out of South Bend. But nothing felt right—until now.
After spending a year in discussions with Mark Zukerman of Encore Sotheby’s International Realty, I felt compelled to go this direction. Mark and I have a lot in common. We attended IU at the same time, we both graduated from the IU School of Business, we both started our real estate business in 2010, and both businesses grew very quickly. The big difference is that Mark enjoys running the business; I enjoy sales. That’s what helped me make the decision—knowing that we’re a compatible match and that our business philosophies align so well, too.
Q. What does the sale mean for you and your involvement in Fort Wayne's real estate market?
In short, it means that I’ll have more availability to work with clients. I’ll be able to spend more time connecting people to properties and helping them make the best investment decisions possible.
It also means that I can serve my clients in any of the 960 cities around the world that Sotheby’s International Realty has a presence—and I can do this at no additional cost. Want to move out of state? I’m your gal. Want to retire to Naples, Florida? I can help—we will even have one of our team agents there all season! Ultimately, my plan is to be free to travel so that I can help clients who are looking to acquire property in other parts of the country or world.
I just consulted on a listing in Hilton Head, South Carolina. The sale worked very well, because there were two of us agents working together as opposed to one. I was able to work with the listing agent there as well as with the seller and her family here in Fort Wayne. I offered strategies that have worked for me to get it sold more quickly, and it worked! Two heads are usually more powerful than one. I am a huge believer in the team concept. It just works. The job of the real estate agent is way too difficult today for one person to handle, especially if your services are in demand. This model of teaming up with other agents will be crucial to serving you, my clients, properly.
Q. I am sure over the years you have had several inquiries to sell your company and/or merge with other firms, why did you chose Encore Sotheby's International Realty?
Sotheby’s has the best longevity and history. The company began in London in 1744 as an auction house and then launched their real estate division 50 years ago. Since, they have grown to become an international boutique brand synonymous with white glove customer service, impeccable marketing and branding, and straight up success.
Q. What do you think Encore Sotheby’s International Realty will bring to the Fort Wayne real estate market?
Sotheby’s International Realty is the first international, boutique, luxury real estate brand to enter Northeast Indiana. For the first time, the region has a company that is willing to make a significant investment in their listings. They believe the old adage that one must spend money to make money, which has been my mantra since I entered the industry. Sotheby’s International Realty will raise the bar for the consumer wanting the best they can get for their commission dollars spent. We were one of the first to offer professional photography to real estate sellers here in Northeast Indiana, and now with Encore Sotheby’s International Realty, we will also offer property brochures and marketing materials of a quality that I have not seen before. We just got our first batch today and were so excited. They are just gorgeous. This will be a boon to Fort Wayne’s market.
Q. What does the acquisition mean for the Reecer Properties team and talented real estate agents?
One of my passions in this industry is training new agents, and I’m thrilled to say that my team staff and I will be the training team at Encore Sotheby’s International Realty. We’ll shape anyone who has the right attitude and desire to be a great addition to the industry here in Northeast Indiana. We welcome inquiries from those who are newly licensed as well as those who are seasoned agents wanting to join the Encore Sotheby’s International Realty team, either on their own or as a part of my sales team.
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All my best,
Lynn Reecer
