We were lucky to catch up with Marianne Terrell recently and have shared our conversation below.
Hi Marianne, thanks for joining us today. Parents play a huge role in our development as youngsters and sometimes that impact follows us into adulthood and into our lives and careers. Looking back, what’s something you think you parents did right?
I am one of five children, I grew up in small town, rural Texas. Hard work and dedication on the farm is just a way of life…there is no other way. There are no shortcuts. There are no cheat codes. I was raised with such a strong work ethic that it has carried me through all of my successes in life, personally and professionally.
The best take away my parents instilled in me: you have to do it, no one’s going to do it for you.
The biggest example that jumps at me was that I was expected to facilitate my own college education. Both my parents are college grads, it was something that was just always unspoken but expected. I was going to get a college education, but, my parents were not going to be footing the bill. And, I don’t want anyone to think that my parents were not ready to lend a hand. You need help? You have to ask, find solutions, get creative. But, ultimately, it was my responsibility.
So much of how I do business today can be traced back to preparing and completing my college education. I couldn’t wait until graduation day to figure out a plan. It taught me to be a long-term planner, set a goal and achieve it. Instant gratification wasn’t an option I had to be methodical and technical, and patient.
My parents taught me to successfully plan and complete a long term goal. How to budget and spend wisely. I had to find out where to go and what I could afford. Planning for college started years in advance, such as what to do for activities to make me competitive with scholarship applications. I knew I was never going to be valedictorian like both of my older sisters, so what other solutions were achievable for me to up my value? I knew I had a penchant for time management and extra-curricular activities….at one time I held the role of president for almost every club I was a part of; anything worth doing is worth doing well. The self-reliance this built in me is something I am so proud of, I honestly don’t know how they did it. They didn’t nag me, or hover…I was in charge and responsible for my essays, applications, and deadlines…and I did it.
They taught me to make the right decisions, the smart decisions, not just the fun decisions. For instance, I lived at home during college. I picked a university close to home because collectively it was the better financial decision and more prestigious than going to a “cheaper” school further away. And, they helped me out, I lived at home rent-free. I graduated with my undergrad debt-free.
And, little did I know, just how beneficial this process was for me. Real estate is not a get rich quick business, it is a long term career path built with a solid foundation of training and on-going education. The relationships you build can take years before they benefit you financially. Being 100% commission based, one has to be able to budget long-term as well. And, when you’re self employed, people think you can “pick your hours,” let’s be honest…it just means when you’re not working, you’re not making money. This may sound bitter to some, but my parents prepared me for a tough world and a competitive world, you can’t expect someone to just hand you success, if you want it, you have to do it yourself. At the end of the day, as your own boss, you have to hold yourself accountable for your successes as well as your shortcomings and learn how to adapt and overcome.
Just like what my parents taught me on the farm, what you put in, is what you get out. Sure there are things out of your control, but that’s just part of life. But, if you’re putting your all into it, be sure to make it worth the effort and go ahead and strive to be the best. No one is going to make you the best but you.
As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your back background and context?
I am a broker of residential real estate and an owner of Bungalow Realty in Houston, Texas.
Real estate has always been a shared passion of my husband’s and mine. When we were first married, we were looking for our first home to rent together. Such an exciting time in life! And, our real estate agent was…not great. We couldn’t help but think how we would have done a better job.
My husband and I met through a previous job (we were executives for a non-profit), we’ve both been driven by a desire to help others. After our not-so-great experience with our rental, we started seriously considering making the switch to real estate. And, now a decade into the industry, we just celebrated our own firm’s 2nd anniversary!
At the end of the day, I just really want to help people and have a positive impact.
My focus has never been to make the most sales…but rather make each transaction the best experience for my clients by focusing on what is most important to them and their needs in accomplishing their real estate goals. Life is not one-size fits all, so I take a very personalized approach to every client. We are full-service, even years after the transaction. I have past clients reach out all the time for questions about interior design, contractor referrals, or just what to do around town. I want to offer the most complete and information driven experience.
I strongly believe that if you “make money” in a community, you should be giving back to it. Whether that’s your time, talents, or treasure you should strive to leave something better than you found it. A big part of my business model is volunteering. I’ve served on several community boards, have chaired fundraising events, donated, and even just passed out water at a 5k. No matter at what level of commitment, it’s just so important to participate to strengthen your neighborhood, communities, and city however you can.
How’d you meet your business partner?
Oh my goodness. I like this question because my business partner is also my life partner! And, I could talk about my husband for days…I know it’s a cliche but we really are best friends.
We met through a previous job, we were both executives for a large non-profit. Unbeknownst to me, at the first initial meeting, we had started the job about 2 weeks apart.
The story goes…
My husband’s old supervisor asked if he wanted to go to lunch with the new, hot girl. Kenny was like, yes, of course! And, at the lunch he thought, “I’ve dated hotter.”
The whole time I was thinking, who is this cocky son-of-a-gun?
About a month goes by and the whole office is cleared out attending a conference. Since we started our roles after the arrangements were made, neither of us were attending the conference. So, one morning in a sea of empty cubicles, Kenny popped in mine and jokingly asked if he thought it would be ok if he used the weird shower in the basement because there was an issue with the hot water at his house.
I guess that broke the ice because we really started becoming good friends. We would collaborate and assist in each other’s districts, share ideas and best practices. This job was difficult, time consuming, and having a buddy really made a difference. Kenny won a national award for his work, I was very quickly promoted to a premier district…I like to think that we brought the best out in each other and challenged each other to be better.
And, we really were such good friends. We spent a ridiculous amount of quality time together and it didn’t take much time to realize that this friendship was something more. By the time we officially started dating, we had such a solid foundation that Kenny proposed a month and a half later. I remember attending a colleague’s wedding shortly after getting engaged. And, he’s up there on the alter pointing to his ring finger, mouthing to us “is it real?” because it was not far-fetched that the good ole buddies were just playing a prank on everyone.
We’ve only known working together, and I feel like it’s been our super-power in love and life. We know what the other is going through, we know what advice to offer, or when to just listen, we don’t get resentful of the hours or schedules because we GET it. And, having a common life goal allows us to really hone in and accomplish our work goals. So, starting a career in real estate and then starting our own firm together just made sense.
At the root of it, we are both motivated and driven individuals. We have our own ways of doing certain aspects of the business, we are both successful in our own rights, and yet we continue to challenge each other to always grow. We may not always agree, but we share the same important traits and compliment each others’ more extreme traits; a recipe for any great partnership. I just feel I hit the jackpot with a two for one.
What’s been the best source of new clients for you?
Good, old-fashioned face to face relationships. The residential real estate industry is one where we can never quite replace the process with technology, and you can tell potential clients long for that authentic and tangible connection. As cool as it would be, we can’t just find our dream home and “add to cart,” there are so many ins and outs, surprises, contingencies…it’s just so valuable to have someone experienced working for you…add the level of emotion that can also go into the transaction, and it’s easy to recognize why a relationship founded on trust is a must.
In the relationship building business, there are three tiers that seem to produce the best results. Referrals. Open Houses. Volunteering.
Referrals: Sometimes we trust others more than we trust ourselves and having a past client vouch for you is a huge step in the right direction to attracting a new client. So, really cultivating your past clients is a stellar way to source new clients.
Open houses: An audience that is interested in jumping into the market is coming to you! But, you better be prepared! Make it worth your time, advertise beforehand, follow up afterwards, know about the comparable homes in the neighborhood, be able to tell them where to go for dinner after the open house…remember you are not selling this one home, you’re selling yourself and the joys of homeownership.
Volunteering: I love this, so much bang for your buck! You get to contribute to your community and potentially meet a like-minded future client all while feeling good about giving back. And, it’s a way to meet people that doesn’t feel forced and just costs you some time.
Contact Info:
- Website: www.bungalowrealty.com
- Instagram: https://www.instagram.com/bungalowrealty/
- Facebook: https://www.facebook.com/Bungalowrealty
- Linkedin: https://www.linkedin.com/company/bungalow-realty/
- Youtube: https://www.youtube.com/@therealhousewifeofharriscounty
- Other: https://www.instagram.com/heightsbungalowlife/ https://www.bungalowrealty.com/blog
Image Credits
Thomas Wheaton