The RECollective, Long Beach, California
How did you get involved with real estate?
When I was buying my first home, my husband and I chose to be represented by a listing agent with whom we did not have a great experience. I felt like I was always one step ahead of our agent. I was really interested in the contract, and I was constantly calling the agent with questions that I was determining on my own. Obviously, I know so much more now.
I had my son when I was very young, and I didn’t get to pursue my dreams. Later, when my kids were getting a bit older, I was working and missing field trips and all the mom stuff, and I decided I wanted something that would let me have that work-life balance so I could be an involved mom and contribute to the household. So, I quit my job and went into real estate full-time. Going into real estate gave me control over when I work and when I don’t, when I can be there for my children and when I’m with my clients. I think that flexibility is amazing to have as a working parent.
How did you get involved with RRC?
I’ve been very involved with real estate associations since about 2015. I started out at the local level, then added the state level and NAR. The CRS Designation was one of those things I always wanted to add to my resume, but I never really had the time—I wasn’t prioritizing it.
During my travels as a volunteer, I saw that so many of the agents who I really admire, look up to and who are phenomenal business owners all have their CRS Designation. There’s a community and culture behind it—a very well-respected culture—and I thought, “I want to be in the cool kids’ club. I need to check that box.” And I finally got it done. I’m really looking forward to Sell-a-bration® in Atlanta in February.
What is your business like these days?
I live and work in Long Beach, California, and it was wild until the increase in interest rates in May. We’re still seeing multiple offers on homes, but it’s cooling down in the sense that the frenzy isn’t happening due to this rate increase. We are seeing an effect on the buyers—they’re pumping the brakes a little, and I don’t think it’s because they don’t want to buy a home. What they’re saying is they can’t afford the house in their preferred neighborhood because the rates have gone up. That’s really affecting their buying power. Sellers are not seeing buyers write offers with all the wild terms that we were seeing before the rate hike.
How have you responded in terms of your marketing?
My husband and I have built our entire business relationally; we’ve worked by relationship and referral for my entire career. We don’t do a ton of outward-facing consumer marketing to the public; it’s geared directly to our database and our sphere of influence. We adjusted our marketing a few months before that rate hike. Being in the business 20 years, I could see this coming. The way-over-asking-price offers, no contingencies and other trends was only going to last so long.
We’ve been preparing our clients through our video marketing, email newsletters and postcards. We’ve been urging them to get in now before the market adjusts or sell now before the prices soften. As a result, our clients aren’t shocked that this is happening because we’ve been talking about it.
What keeps you busy aside from work?
I would say anything involving my children. My daughter is graduating early from the University of Kentucky this December, and my son plays Double-A baseball in the Los Angeles Dodgers organization. They both are thriving, and it’s fun to support their journeys. It’s the best to see your kids succeed when they set big goals.
Barbara Betts, CRS, achieved the CRS Designation in 2022. She can be reached at barb@therecol.com or 562-980-0505.
Photo: Steve Anderson
