Daniella Ottone: A Leader In The Hispanic Real Estate Market

REE #242 Transcript

[00:00:00] Daniella Ottone: You have to be consistent. You have to get up in the morning and do what you need to do. Even on days when you’re not getting a new transaction or pre-approving a customer, you still have to work consistently on the business. I don’t think everyone who wants to be an entrepreneur or work for themselves is cut out for that.

[00:01:00] Tracy Hayes: Welcome back to the Real Estate Excellence Podcast. Today’s guest has over 21 years of real estate experience in Jacksonville, Florida. She has owned a mortgage company and worked in underwriting, giving her an edge as an ultimate advisor. As a native of Chile, she is very involved in Jacksonville’s Hispanic community and shares her expertise weekly on her radio show. Every Sunday, we hear from this amazing agent, owner of The Ottone Group, and host of Daniella’s Real Estate Show. Let’s welcome Daniella Ottone to the show. Did I pronounce your last name correctly?

[00:01:19] Daniella Ottone: It’s "A-tone," but that’s okay.

[00:01:21] Tracy Hayes: I’ll make a mental note. I appreciate you being here. The more I researched you, the more excited I got about today’s show. You’ve had great success and are a leader in your community. Your Instagram is all in Spanish, and you’ve built a YouTube channel, which many agents aren’t utilizing. You seem very focused on your target audience. I appreciate you joining us.

[00:02:06] Daniella Ottone: Thank you so much for having me. I’m excited to be here.

[00:02:13] Tracy Hayes: Before we dive in, let me quickly shout out to our sponsor, Remi Graphics. They make awesome laser-engraved mugs. You’ll find a hot pink one in your gift bag. They do custom gifts for closings like "Welcome to Jacksonville" mugs for homeowners. Check out RemiGraphics.com. Now, Daniella, you were born in Chile—when did you come to the States?

[00:02:55] Daniella Ottone: I came in 1997 to get married.

[00:03:02] Tracy Hayes: Right.

[00:03:03] Daniella Ottone: My boyfriend, who later became my husband, moved here. He was a professional soccer player, and Jacksonville had an MLS team called the Jacksonville Cyclones. I was a flight attendant and studying graphic design, so I adjusted my schedule to spend 15 days here and 15 days flying internationally. After a few months, he proposed, and I moved here permanently.

[00:03:38] Tracy Hayes: Wow, that’s an incredible story. How long did you work as a flight attendant?

[00:03:50] Daniella Ottone: About four years. It’s a fun job, but I was away 19 nights a month, which isn’t ideal for family life. So, once I got married and settled in Jacksonville, I left the job.

[00:04:32] Tracy Hayes: How did you get introduced to the mortgage business? Most people don’t know where to start in that field.

[00:04:57] Daniella Ottone: It happened after my divorce. Like many immigrants, I started with small jobs, including cleaning houses, until I got my paperwork. Once I was able to work legally, I got into collections, which eventually led to mortgage collections. I worked my way up to a supervisor position at Bank of America, handling collections and loss mitigation. After being laid off, I got my start as a loan officer. By 2001 or 2002, I had opened my own brokerage.

[00:06:39] Tracy Hayes: Did your connections in the Hispanic community help you grow your business?

[00:06:54] Daniella Ottone: Absolutely. In 1997, Jacksonville’s Hispanic community was small and underserved. I became the go-to loan officer for minorities, which helped me grow quickly. Eventually, I started flipping houses and later got my brokerage license.

[00:07:31] Tracy Hayes: You entered the brokerage business during a chaotic time. What was that like?

[00:07:46] Daniella Ottone: It was intense. Subprime lending was big, and many people didn’t understand adjustable-rate mortgages (ARMs). When 2008 hit, everything fell apart. I had three branches, 46 loan officers, and worked with 184 lenders. By early 2008, most of those lenders were filing for bankruptcy. By March, I had to close everything.

[00:11:31] Tracy Hayes: That must have been devastating. How did you recover?

[00:12:43] Daniella Ottone: It was incredibly tough. I was a single mom with two kids and couldn’t find a job. I had to call my kids’ father to ask him to take them for six months while I rebuilt. My first job was at Sunday Van Busters, earning $8 an hour. Eventually, I got a call from Washington Mutual to work on loan modifications, which helped me get back on my feet. Later, I worked as a senior underwriter for J.P. Morgan Chase and Wells Fargo.

[00:14:56] Tracy Hayes: What led you to real estate?

[00:15:29] Daniella Ottone: I decided to leave the mortgage industry after more layoffs. While going back to school for aesthetics, I got my real estate license to help clients who were still reaching out. I worked part-time in real estate while studying. Eventually, I left aesthetics to focus on real estate full-time.

[00:16:36] Tracy Hayes: How has your mortgage background helped your real estate career?

[00:16:53] Daniella Ottone: It’s been invaluable. I can pre-qualify clients and help them fix credit issues before they even meet a lender. My background helps me structure deals and guide clients through the process, making things smoother for everyone.

[00:18:06] Tracy Hayes: How important is it to build strong relationships between agents and lenders?

[00:18:30] Daniella Ottone: It’s crucial. I follow the person, not the lender. I work closely with a bilingual loan officer I used to compete with because she understands my clients’ needs. Our communication and trust make a huge difference.

[00:20:40] Tracy Hayes: Every deal is unique, and experience is so valuable. Even after 20 years in the business, there’s always something new to learn.

[00:21:08] Daniella Ottone: Exactly. The business is always evolving, which is what makes it exciting. You have to keep learning and adapting.

[00:21:27] Tracy Hayes: Actually, you know, creating that course, the one thing it didn’t include was DSCR loans and bank statement loans, which are alternative lending options available today versus when we first started.

[00:21:40] Daniella Ottone: And we’re using them a lot right now. DSCR loans are great for investors who have run through all their income documentation and can’t show income on paper.

[00:21:50] Tracy Hayes: The only challenge is finding a way, given current interest rates, to keep the payment manageable for the property.

[00:22:00] Tracy Hayes: To make that work. Bank statement loans are another interesting option. What surprised me was how these loans come from alternative lenders, not the ones people know, like Chase or Town Bank Mortgage. These lenders work exclusively with brokers or loan officers and not directly with the public. They’re hungry for business, though. I recently closed one of these loans, and while it required three or four exceptions, they made it work because the borrower had a significant down payment, reasonable credit, and a history of making payments.

[00:22:39] Daniella Ottone: For me, the 12-month bank statement loan is great, especially for truck drivers. There are a lot of Latino truck drivers making good money monthly, but their tax returns show too many deductions. This often disqualifies them for the kind of house they’d like to buy. A 12-month bank statement loan solves that problem for them.

[00:22:59] Tracy Hayes: And for those listening, it doesn’t take long to get this process started. You just need to collect their complete 12 months of bank statements, including all pages, even the blank ones. If a statement says six pages, but you only submit five, the lender will ask for the missing page. Once we upload everything, lenders often respond within a few hours, giving you the usable income for the borrower.

[00:23:25] Tracy Hayes: All right, so let’s shift gears. You’re now fully focused on real estate. You’ve left your other jobs behind. Tell us about the brokerage you chose at the time and why. Was it for support or simply a good fit?

[00:23:43] Daniella Ottone: At that time, I joined an international real estate company that catered to foreign agents. It was 100% commission, which worked for me since I didn’t need much training. I already had experience and a pipeline of customers, so I just needed a platform. Later, I moved to a friend’s new brokerage. He asked me to help him grow and made me the head of the Spanish department. We went from four agents to 250, but unfortunately, bad business practices led to the brokerage closing. After that, I joined eXp Realty.

[00:25:21] Tracy Hayes: When your boyfriend invited you to Jacksonville, did you already speak English?

[00:25:31] Daniella Ottone: Yes, I studied at a British school in Chile. By the time I finished high school, learning English was mandatory. My English was good, but it was very proper—British English. I’d say things like, "How do you do?" and people would look at me funny. I had to learn American slang and the local lingo.

[00:25:57] Tracy Hayes: That must’ve been an adjustment. Slang and sarcasm can throw people off when they’re learning proper English.

[00:26:25] Daniella Ottone: Definitely. I remember once someone told me, "Holler at me later," and I thought they wanted me to yell at them. I called a friend to ask what it meant, and they explained it meant "call me later."

[00:26:55] Tracy Hayes: So, as you transitioned back into real estate, what were some of the strategies you used to rebuild your client base, especially since this was pre-social media?

[00:27:25] Daniella Ottone: I was doing everything—door-knocking, handing out flyers, attending events, and visiting businesses with predominantly Latino employees. I’d bring donuts or pizza, offer to do a lunch-and-learn presentation, and explain how easy it was to buy a home. I’d also bring my loan officer to answer questions. On Saturdays, I’d farm neighborhoods, knocking on doors and introducing myself as the neighborhood real estate agent.

[00:28:35] Tracy Hayes: What challenges did you face working with the Hispanic market, and how did you address them?

[00:29:02] Daniella Ottone: Many clients lacked financial literacy. Some didn’t believe in banks and kept money under their mattresses. Others didn’t understand the credit system. I would help them open bank accounts, teach them how to manage credit cards, and explain how to build credit responsibly. It was a lot of education.

[00:29:44] Tracy Hayes: Do you find a difference between first-generation immigrants and their children in terms of financial habits?

[00:30:29] Daniella Ottone: Yes, definitely. First-generation immigrants often face language barriers and cultural differences. They don’t trust banks or the system, whereas the next generation, raised here, tends to do things "the American way."

[00:31:01] Tracy Hayes: It sounds like your approach involves a long-term vision. Many agents only think 60 to 90 days ahead. You’re building relationships that might take years to yield results.

[00:32:29] Daniella Ottone: Exactly. I focus on building a pipeline of clients at different stages—some ready to close in 30 days, others in 60, 90, or even two years. I’ve helped clients start businesses, taught them how to grow here, and built trust within the community. This approach has led to loyal clients and steady referrals.

[00:33:52] Tracy Hayes: That’s an inspiring approach. The loyalty and dedication you cultivate are commendable.

[00:35:00] Daniella Ottone: Thank you. When you help someone succeed, they trust you, and that trust creates a ripple effect in the community. It’s incredibly rewarding to see their growth and be part of their journey.

[00:49:32] Tracy Hayes: Marketing-wise, when you get a new agent, how do you help them get those first three transactions? That first step is so critical. Obviously, we want them to go beyond that, but getting those first three during the six weeks of training would be amazing. What do you teach them in terms of marketing and reaching out to their circle of influence? What advice do you give them?

[00:49:58] Daniella Ottone: Well, first of all, I tell them to start promoting themselves right away—even when they’re just thinking about getting their license. Put it out there. Tell your circle of influence, “Hey, I’m getting my real estate license. I’m going to start selling houses. If you’re planning on buying or selling sometime soon, think of me and give me the opportunity.” I make them work their circle of influence immediately, so everyone knows they’re in the business. A lot of people tend to act like secret agents for some reason, and that’s not what you want.

[00:50:31] Tracy Hayes: That’s a great statement. Do you think they hold back because they lack confidence? Maybe they’re afraid to tell friends and family they’re in real estate because, in the back of their minds, they’re worried they might not last three months. And then they think, “What am I going to say to the people I told I was a realtor?”

[00:51:01] Daniella Ottone: Yes, most of us, in general, are afraid of criticism, especially from close family and friends.

[00:51:10] Tracy Hayes: The ones we should ignore!

[00:51:11] Daniella Ottone: Exactly, but those are the ones that hurt the most. If a family member or close friend says, “No, I’m going with someone else because I trust them more,” it’s like a dagger. So, we teach them how to do calls. Sometimes we do call nights at the office where everyone makes calls together. Being part of a team helps. I tell them, “You’re not alone. You have a successful team backing you up with 20 to 30 years of collective experience.”

[00:52:23] Tracy Hayes: That’s great. On marketing, do you try to have your agents replicate what you’re doing on platforms like Instagram? You have an extensive presence there, and your radio show is 100% in Spanish. While they can’t fully duplicate you, do you encourage them to model their content after yours?

[00:52:59] Daniella Ottone: Absolutely. I teach them from my own experience. I’ve already failed at some things and learned what works. I encourage them to do videos because video is key right now. Many of my agents have appeared with me on my YouTube channel or on the radio. I make them introduce themselves.

[00:53:31] Tracy Hayes: You should definitely turn that into a podcast as well.

[00:53:36] Daniella Ottone: I’m working on it! I’m building a podcast setup now and plan to launch it in January.

[00:53:43] Tracy Hayes: That’s fantastic. Podcasts, especially with video, can be so effective. The content you’re already creating could be repurposed for YouTube and podcasts. You’d have tons of material to work with.

[00:54:28] Daniella Ottone: That’s the plan. I’ve been doing radio for about five or six years, but this year, I started recording the shows. I now have someone recording with three cameras, and we use the footage for YouTube. Right now, I’m focused on delegating because, as a real estate professional, we often spread ourselves too thin. I’ve hired someone to manage my YouTube content, and I’m committing to uploading one video per week.

[00:55:48] Tracy Hayes: That’s great. Going live on YouTube is another option. It gives you a bigger audience and allows for more engagement. Plus, you can edit and repurpose the content later.

[00:56:31] Daniella Ottone: I’ll definitely start exploring that. Right now, my radio shows are prerecorded on Thursdays and air on Sundays. But I can see the benefit of going live.

[00:57:41] Tracy Hayes: You could create so much content from one conversation—reels, shorts, and full episodes. It’s an efficient way to build your brand.

[00:58:05] Daniella Ottone: Exactly. I listen to a daily real estate podcast from a team in Miami. It’s short, around 15 to 30 minutes, and provides great personal development and business insights.

[00:58:44] Tracy Hayes: That’s a fantastic idea. Quick, focused episodes can be powerful.

[01:00:00] Tracy Hayes: Shifting gears a bit, let’s talk about team building. Some agents want to start teams but jump in too soon. You’ve built yours organically. What advice do you have for agents considering starting a team?

[01:00:33] Daniella Ottone: It’s all about retention and culture. I started my team by accident. My first agents were actually customers who wanted to work with me. My first six to twelve agents came from this organic growth, and many are still with me six years later. I don’t actively recruit; people come to me because they’ve seen my work or were my clients.

[01:03:23] Tracy Hayes: Would you say those core people are essential to maintaining growth and creating a positive team culture?

[01:03:33] Daniella Ottone: Absolutely. They’ve helped me build and maintain the culture we have today. I’m at the office most of the time, and I give out a lot of leads. But I look for willingness and work ethic in my agents. If someone doesn’t follow through on opportunities, I don’t push them.

[01:05:11] Daniella Ottone: I tell all my agents, “You are your own company.” I’m here to support them, but ultimately, their success depends on their effort. We’ve built a collaborative culture with events, charity work, and weekly meetings where we discuss challenges, wins, and share experiences.

[01:07:23] Tracy Hayes: That collaborative approach really sets the tone. Your team sounds like a great example for others looking to build organically.

[01:10:00] Tracy Hayes: Let’s finish with this: What are you doing differently now, given the current market conditions?

[01:11:21] Daniella Ottone: I’ve shifted my focus to new construction and foreign investors. The Latino community I work with continues to grow, and many foreign clients are looking to invest in the U.S. because it’s a stable market. Locally, new construction offers great incentives, especially for first-time buyers, which has been a big draw.

[01:13:03] Tracy Hayes: Thanks so much for sharing your insights. You’ve provided so much value, and I’d love to have you back for updates in the future.

[01:13:14] Daniella Ottone: Thank you so much for having me. I really enjoyed it!