Deanna Foerman: Finance, Teacher to Successful Real Estate Agent

REE #230 Transcript

[00:00:00] Deanna Foerman: I don't care if someone has a home that's selling for $150,000 or $750,000. It doesn’t matter, because like we’ve talked about before, you can have people in different socioeconomic statuses, but that doesn’t make one person’s home any less valuable than the other. It’s still that person’s heart and soul there.

[00:00:30] Tracy Hayes: Welcome back to the Real Estate Excellence Podcast. Today’s guest is a top-producing real estate agent here in Northeast Florida. She’s worked in the financial industry and was also a school teacher. She’s used this background to maximize her skills as an agent, consistently selling over a million dollars a month. She is considered one of the top 500 agents in Jacksonville by Jack’s Real Producers. Let’s welcome this highly respected top producer, Deanna Foreman, to the show.

[00:01:05] Deanna Foerman: Thank you for having me.

[00:01:06] Tracy Hayes: Thank you, I appreciate you coming by. I’m really interested in diving into your background. Everyone comes into real estate from different paths. Some people go straight into it right out of college, and I think you and I might look back and wish we had done that. But the Lord had a different path for us. You’ve taken your experiences and brought them into real estate, using skills from your previous careers. You’ve been very successful. How have those skills helped you, whether it’s business acumen or just working with people?

[00:01:35] Deanna Foerman: Absolutely. I’ve taken everything I learned from my financial and teaching backgrounds, and it’s melded together nicely. That’s what has really helped me in real estate.

[00:01:47] Tracy Hayes: Excellent. We’ll dig into that a little more, but first, let me get my co-sponsor mentioned. Remi Graphics made these custom mugs with our show logo. You’ve got a hot pink one in your gift bag. They make great personalized closing gifts or other laser-engraved items. It’s meaningful when you put a client’s name or the address of their new home on something like this—it becomes a keepsake they won’t throw away.

[00:02:15] Deanna Foerman: Absolutely, I agree. That’s awesome.

[00:02:18] Tracy Hayes: Check out RemiGraphics.com. I wanted to mention something else since today is October 3rd, and we had the hurricane last week. Yesterday, I got together with an alumni brother who’s a former Naval aviator. He has his own small plane and wanted to help with hurricane relief. In less than 24 hours, we raised $4,000, bought essential supplies like diapers, and flew them to an area in North Carolina that was badly affected. It’s amazing what you can do when you put your mind to it, and hopefully, we’ll do another run next week.

[00:03:00] Deanna Foerman: That’s fantastic. I’d be honored to make a donation.

[00:03:02] Tracy Hayes: Thank you, I appreciate that. The point is, you can make a difference, just by making some phone calls and taking action. That brings me to my next point—the importance of real estate agents in the community. You’ve been doing this for over eight years. With everything going on, like the NAR lawsuit, there’s been some negative devaluation of real estate agents, but they’re crucial in the housing industry. Builders are important, of course, but real estate agents are the ones bringing families to those homes. Even with the internet, agents are still so valuable.

[00:03:45] Deanna Foerman: I completely agree. It all comes down to relationships. No matter the walk of life or socioeconomic status, the common thread is that everyone wants a home—a place where they feel comfortable.

[00:04:01] Tracy Hayes: Exactly. Everyone likes a roof over their head. And as a real estate agent, you become a community pillar. How often are you asked for recommendations, like for a good restaurant, landscaper, or auto body shop?

[00:04:15] Deanna Foerman: All the time! I have a list of trusted people and businesses that I refer to others.

[00:04:22] Tracy Hayes: That’s great. I think agents could benefit from having a more robust online presence, offering those kinds of referrals on their websites. It could be a real value-add for clients.

[00:04:35] Deanna Foerman: That’s a great idea. I love helping people build their businesses, just like I’ve built mine through referrals and relationships. I’d love to do the same for other service providers.

[00:04:50] Tracy Hayes: That’s the right mindset—helping others rise. You never know when those efforts will come back tenfold.

[00:04:57] Deanna Foerman: Exactly. That’s how I live every day. Just lead with kindness, and you won’t go wrong.

[00:05:05] Tracy Hayes: Absolutely. And when you help others without expecting anything in return, it often comes back around in ways you don’t expect.

[00:05:13] Deanna Foerman: 100%. It’s all about building that sense of community.

[00:05:18] Tracy Hayes: Where did you grow up?

[00:05:20] Deanna Foerman: I grew up in Orange Park.

[00:05:22] Tracy Hayes: So you’re a local!

[00:05:24] Deanna Foerman: Yes. I was actually born in Pensacola because my dad was in the Navy, but we moved to Orange Park when I was young. My parents still live in the same house I grew up in.

[00:05:35] Tracy Hayes: Wow, that’s amazing! And you haven’t convinced them to move yet?

[00:05:39] Deanna Foerman: No, my dad swears he’s never moving!

[00:05:42] Tracy Hayes: Did you go to Orange Park High School?

[00:05:44] Deanna Foerman: I did, class of ’89.

[00:05:47] Tracy Hayes: And then you went to UNF. What were you envisioning as your career back then?

[00:05:52] Deanna Foerman: I double-majored in management and marketing. I knew I wanted to be in business but wasn’t sure exactly where. Like many graduates, I was just hoping to find a job.

[00:06:02] Tracy Hayes: And where did you start your career?

[00:06:04] Deanna Foerman: I worked retail at Dillard’s through college and became an area sales manager after I graduated. Then, I transitioned into the financial industry and worked at Merrill Lynch for 18 years.

[00:06:16] Tracy Hayes: That’s a long time. What kind of work were you doing there?

[00:06:19] Deanna Foerman: I did a little bit of everything—processing, employee development, and relationship management. It was all about building and maintaining relationships, which is very similar to real estate.

[00:06:32] Tracy Hayes: When you say “relationship management,” what exactly does that involve?

[00:06:35] Deanna Foerman: It involved managing relationships with non-Merrill Lynch fund families—about 90 different ones. We were responsible for ensuring everything ran smoothly with their funds.

[00:06:46] Tracy Hayes: So you were the go-between, handling any issues that came up?

[00:06:49] Deanna Foerman: Exactly. Whether it was a problem with commissions or dividends, or something with how the fund was set up, I was the person managing those relationships and making sure things were resolved.

[00:14:01] Tracy Hayes: Yeah. If something wasn't happening right away...

[00:14:06] Deanna Foerman: Like in real estate, you're dealing with what is usually people's most valuable asset. You're dealing with their money, so you better be spot on and able to account for everything.

[00:14:16] Tracy Hayes: Exactly.

[00:14:17] Tracy Hayes: So, 18 years?

[00:14:20] Deanna Foerman: Mm-hmm.

[00:14:21] Tracy Hayes: Any other key positions there we need to talk about?

[00:14:24] Deanna Foerman: There were just so many.

[00:14:27] Tracy Hayes: So, you decided to leave and go into teaching?

[00:14:29] Deanna Foerman: Yes. Merrill Lynch was bought by Bank of America in 2008, and I stayed on for four more years. Then I got to the point where I wanted to be closer to home. I'm from Green Cove, so it was about a 35-40 minute commute every day.

[00:14:48] Tracy Hayes: That's a good drive.

[00:14:51] Deanna Foerman: Yeah, and I spent hours in the car. I don’t even want to think about how much I spent on gas.

[00:15:05] Tracy Hayes: Coming back was probably harder than going, wasn’t it?

[00:15:08] Deanna Foerman: Yes, it was. The worst time of day when you're tired and just want to get home.

[00:15:16] Tracy Hayes: Right.

[00:15:17] Deanna Foerman: Or rushing back to daycare to pick up the kids.

[00:15:19] Tracy Hayes: Yeah.

[00:15:20] Deanna Foerman: So, I decided I wanted a complete change of pace. I got my teaching certificate and became an elementary school teacher at the school where my kids went. My commute went from an hour to about 90 seconds.

[00:15:41] Tracy Hayes: Right there in the neighborhood.

[00:15:43] Deanna Foerman: Exactly.

[00:15:44] Tracy Hayes: And you got to see your kids multiple times during the day and be there at the end of the day with them.

[00:15:50] Deanna Foerman: Yes.

[00:15:52] Tracy Hayes: So, your kids grew up there.

[00:15:55] Deanna Foerman: They did.

[00:15:55] Tracy Hayes: What did you learn from teaching?

[00:16:00] Deanna Foerman: Well, I was an education major, but I went into sales right away. I did go back to teach for a year, but I realized it wasn’t for me. I'm old school. I believe that if someone’s in your face, it’s because they care. Today, people see it differently, like it’s a negative thing. But in my experience, if someone’s not telling you you have pie on your face, that’s when you should question their loyalty to you. So, that’s my ideology on that.

I imagine you’ve experienced some of that in teaching, and it probably helped you in real estate as well.

[00:16:57] Deanna Foerman: Yes, it has. Since I’ve been in real estate for eight years, I think it's changed a lot. When I was teaching from 2013 to 2018, I felt like I made an impact. I started in first grade and moved up to fourth grade by the end of it. I even had some of my first graders again, so I got to see how much they changed over time. It was great building those relationships again.

[00:17:41] Tracy Hayes: You built those relationships.

[00:17:43] Deanna Foerman: Yes, and then I transitioned to real estate, doing both for a year. I’m not sure how I managed because I was full-time teaching and starting a new career at the same time. But I had been in the area for so long and had a large sphere of influence. I hit the ground running and was a $5 million producer my first year while still teaching.

[00:18:27] Tracy Hayes: What made you consider real estate? Did you see an endgame in teaching?

[00:18:34] Deanna Foerman: No, not initially. But someone suggested I would be good at it. I’ve heard many times that nurses and teachers make great real estate agents. I had thought about it in the past but never pursued it because the idea of being 100% commission was scary. I needed the security of a steady income.

[00:19:13] Tracy Hayes: So someone intrigued you enough to give it a shot.

[00:19:15] Deanna Foerman: Yes. Some brokers say you have to jump in feet first to be successful, and I agree. But my challenge wasn’t finding leads — it was gaining confidence and knowledge of the industry while teaching.

[00:20:15] Tracy Hayes: You had to juggle two full-time jobs, right?

[00:20:16] Deanna Foerman: Exactly. I had to manage my time effectively, fitting real estate into every free moment. Even though I was technically part-time in real estate, it didn’t feel like it.

[00:20:43] Tracy Hayes: I imagine a lot of your early success came from your sphere of influence.

[00:20:45] Deanna Foerman: Yes, but I didn’t want anyone to think they were getting part-time service. I didn’t tell my clients I was still teaching. They thought I was full-time real estate until after the transaction was done, and they were astonished when they found out.

[00:21:41] Tracy Hayes: Confidence is everything in this business.

[00:21:43] Deanna Foerman: Yes, it is.

[00:21:46] Tracy Hayes: Let's talk about your first brokerage. Did you interview different brokers when you started?

[00:22:19] Deanna Foerman: Not initially. I joined a team, so I went where the team was. Later, when I went out on my own, I interviewed several brokerages and ended up at Coldwell Banker. The second I walked through the door, I felt it was the right fit. It just felt different from other places.

[00:23:00] Tracy Hayes: What made you feel that way?

[00:23:26] Deanna Foerman: It was the people and the culture. I felt comfortable right away, and it was like a family. Mona Gardella, who was in the managing role at the time, was wonderful. Then when Kim Knapp took over, it just solidified everything. Kim is amazing.

[00:24:37] Tracy Hayes: The culture of an office can make a huge difference. It’s important to feel supported, especially in an industry where you’re essentially running your own business.

[00:24:50] Deanna Foerman: Yes, and Coldwell Banker has a great culture. We’re always doing trainings, getting together, and raising money for causes. It feels like a real community.

[00:25:30] Tracy Hayes: That camaraderie is key, especially for new agents. It helps to have that network to learn from and bounce ideas off of. Do you agree?

[00:26:00] Deanna Foerman: Absolutely. For me, being part of an office with that kind of support has been crucial to my success. We’re like a family.

[00:27:00] Tracy Hayes: It’s like they say — humans need that social interaction. It’s how we grow and learn, and that’s important in real estate, too. You need to hear how others are navigating the market and negotiations.

[00:27:19] Deanna Foerman: Exactly. It’s one of the reasons I thrive in an office setting.

[00:27:51] Tracy Hayes: Being in an office like Coldwell Banker must help a lot with negotiations, especially in today’s market.

[00:28:14] Deanna Foerman: Definitely. Negotiation skills are crucial right now, with both buyers and sellers having unique challenges.

[00:29:18] Tracy Hayes: You started on a team and then went out on your own. What did that team teach you early on that was really valuable?

[00:29:49] Deanna Foerman: They taught me the importance of relationships and maintaining them. Many agents don’t stay in touch with their clients after the transaction. But if you maintain those relationships, they’ll come back to you, and they’ll refer their friends and family to you. That’s how you build a lasting business.

[00:35:51] Deanna Foerman: To call it God. That's God. Yeah. They need you right now for some reason.

[00:35:56] Tracy Hayes: That's very interesting, and I think that's really great advice. Oftentimes, we sit here and wonder, "Who can I reach out to today?" You can make it easy by going on Facebook, seeing who's celebrating something, maybe their kid just won a ball game or something. But like you said, when someone crosses your mind, there's a reason for that.

[00:36:20] Deanna Foerman: Mm-hmm.

[00:36:21] Tracy Hayes: Yeah, that's good stuff.

[00:36:23] Deanna Foerman: It fills them and you, so it's a win-win.

[00:36:30] Tracy Hayes: I think you were hinting earlier about these virtual agents being on an island. Sometimes people feel isolated and don't realize that others are thinking about them. Just a note saying, "You're awesome" can make a difference.

[00:36:46] Deanna Foerman: Right.

[00:36:48] Tracy Hayes: I just got a note in the mail yesterday from one of my customer friends. She thanked me for always being involved in their lives. I helped them buy a house four years ago, and my husband and I still go to her son's soccer games. We stay connected because it feels good for them and for us. It's about the relationship.

[00:37:24] Tracy Hayes: It ties back to what I said earlier about how important a real estate agent is in the community. The relationships you create with people, whether they came to you through an online lead, social media, or a referral, can turn into something long-lasting. Four years later, they're still sending you notes like that. That's powerful.

[00:37:59] Deanna Foerman: It really is. In just 30, 60, 90 days, you're building major trust. I'm honored by that, and I always try to continue nurturing those relationships.

[00:38:14] Tracy Hayes: That's very powerful. You mentioned "trust." Do we, as mortgage lenders and real estate agents, fully understand the power of that bond of trust we're building with people? I think we often undervalue it.

[00:38:37] Deanna Foerman: I agree.

[00:38:38] Tracy Hayes: We're impacting people deeply, and when they leave a nice review or make a heartfelt comment, it's genuine. It's not something they're generating for the sake of it. We might downplay it because we do it every day, but what we helped them through is a huge chapter in their lives.

[00:39:06] Deanna Foerman: Exactly. A lot of people these days are apprehensive and anxious, and my goal is to make the process as stress-free as possible. Buying or selling a home is a big deal, and I want them to enjoy the experience.

[00:39:34] Tracy Hayes: Right.

[00:39:34] Deanna Foerman: You don’t want them to look back and say, "I never want to do that again."

[00:39:42] Tracy Hayes: Exactly. I wrote an article recently comparing hiring a real estate agent to hiring a guide for a fishing trip. A guide takes you where the fish are and makes the experience enjoyable, even if you stumble along the way. That’s what a real estate agent does—guides people through the stress points, like scratches on a branch. You're there with the "band-aid," guiding them through one of the biggest transactions of their lives.

[00:41:12] Deanna Foerman: I always tell my clients, "Don’t worry unless I worry. If I’m worried, then you can worry."

[00:41:19] Tracy Hayes: Exactly. That’s a great approach. And going back to the idea of teamwork—there are so many situations that come up, and being in an office with other agents can be invaluable. You can share experiences and solutions, making you a better guide.

[00:42:00] Tracy Hayes: So, you were with a team, but eventually, you decided to go solo. How many years in were you when you made that decision?

[00:42:05] Deanna Foerman: Two years.

[00:42:05] Tracy Hayes: And what were you looking for in a brokerage when you decided to go solo?

[00:42:22] Deanna Foerman: Culture was the most important thing for me. I’m a very goal-oriented person, and when I set a goal, I achieve it. There's no other option for me. I wanted to be in an environment that supported that. When I found Coldwell, it felt like home. It wasn’t just about the success of the office—it was about the people I knew and respected who were part of that culture.

[00:43:11] Tracy Hayes: And they were there for a reason, which led you there as well.

[00:43:14] Deanna Foerman: Exactly. It was very telling.

[00:43:16] Tracy Hayes: You mentioned talking to several brokerages. What were some turn-offs for you?

[00:43:30] Deanna Foerman: There weren’t any major turn-offs. It just didn’t have the right feel. When I walked into Coldwell, it was like, "This is it. This is home."

[00:43:56] Tracy Hayes: Now, you’ve talked a lot about culture, but what about the operational side of things? At some point, you hit a limit where you can’t do everything on your own. How did Coldwell help you break through that?

[00:45:08] Deanna Foerman: Several ways. First, the training and education are huge. Kim, who’s been there for years, focuses a lot on education, which I completely value. They also provide services like transaction coordination and a marketing department, so I can focus on my clients rather than worrying about every detail myself.

[00:46:00] Tracy Hayes: Right, you're not spending hours designing postcards or handling quality control. You tell them what you need, and they take care of the rest.

[00:46:39] Deanna Foerman: Exactly. Pete Dalton, our leader, has done a great job of making the brokerage agent-centric. It’s all about making things easier for us so we can focus on what matters—our clients.

[00:47:00] Tracy Hayes: For agents at that point of doing everything themselves, was it hard for you to hand off some of those tasks?

[00:47:21] Deanna Foerman: A little, but that’s just my nature. As long as you’re overseeing the work, you don’t have to worry. You just don’t need to physically do everything yourself.

[00:47:52] Tracy Hayes: You mentioned Ninja Selling earlier. How has that impacted your business?

[00:47:58] Deanna Foerman: I’m a huge advocate for Ninja Selling. I went through my first Ninja program in 2020, and my business has grown every year since. What I love about Ninja is that it’s not about being salesy; it’s about doing the right things to move your business forward in a way that aligns with my focus on building relationships.

[00:48:59] Tracy Hayes: Ninja really emphasizes building relationships from the first interaction, doesn't it? Have you incorporated that into your business?

[00:50:00] Deanna Foerman: Absolutely. I do a lot of face-to-face meetings—dinners, lunches—because these people become my friends. It’s not about talking business all the time. It’s about building genuine relationships.

[00:51:00] Tracy Hayes: And even if they’re not ready to buy or sell a home right now, you're staying top of mind. You’re reinforcing trust and credibility. When real estate does come up, they trust your expertise.

[00:51:55] Deanna Foerman: Yes, and it’s never about pushing real estate. It naturally comes up, but the relationship is the focus.

[00:52:12] Tracy Hayes: I think that personalized experience is also part of your marketing. Treating every client like a priority, regardless of the price point, creates a ripple effect. Their positive experience becomes your best advertisement.

[00:52:40] Deanna Foerman: Exactly. It doesn’t matter if the house is $150,000 or $750,000. Each client deserves the same level of care.

[00:53:00] Tracy Hayes: And you never know who your clients know. That $150,000 buyer could know a $750,000 buyer, and when they talk about the great experience they had with you, it leads to more business.

[00:53:43] Deanna Foerman: Yes, my priority has always been about helping people. The rest follows naturally.

[00:54:23] Tracy Hayes: Talk about asking for help. You mentioned mentoring. Have you had anyone you've worked with for a period of time, whether initially or at Caldwell, who really helped grow your business or personally?

[00:54:41] Deanna Foerman: I think it’s more about interactions with different people. Every agent has different backgrounds and experiences, even if they've been in real estate less time than I have. They have their own unique experiences, and I feed off that. You can learn so much from so many people. Kim, for example, has been a mentor, but really, people mentor you without even knowing they're doing it.

[00:55:22] Tracy Hayes: Right, exactly. You also mentioned how you looked at what office to join, and that office had top people. Surrounding yourself with top agents can help pour into you and push you forward.

[00:55:47] Deanna Foerman: Absolutely. Accountability groups do that, too. They hold you accountable for things you said you were going to do. There’s mentoring there, even if it’s not officially called mentoring.

[00:56:06] Tracy Hayes: Let's talk about that accountability piece. You voluntarily join an accountability or mastermind group. Some people avoid situations where they’ll be held accountable. How do you submit yourself to that without backing out when things get tough?

[00:57:11] Deanna Foerman: That's a deep question! I’m all about setting goals. If I set a goal, I’m going to do everything I can to reach it. Of course, we’re human, and sometimes we slip up. But if I didn’t have an accountability group or even one person to report back to, it’d be too easy to put things off. I don’t want to tell someone I didn’t do what I said I would.

[00:57:52] Tracy Hayes: Exactly. And that feeling of not following through, nobody likes that.

[00:57:56] Deanna Foerman: No, it doesn’t feel good at all.

[00:57:58] Tracy Hayes: It's like waking up early to work out. No one wants to get up when the alarm goes off, especially in the cold, but you do it because you know it’ll make you better. You have to submit to that accountability, even if it’s hard. Being self-employed can make it easy to say, "I’ll work when I want," but that’s not how success happens.

[00:59:00] Tracy Hayes: So, looking back at your eight years in the business, what are three key things that have contributed to your growth?

[00:59:13] Deanna Foerman: First, the desire to keep learning. Last year, I spent ridiculous hours getting designations at NEFAR (Northeast Florida Association of Realtors) and even got my broker’s license. Learning keeps you on top of industry trends and makes you better for your clients. Second, involvement. I did the NEFAR Leadership Academy in 2022, and it was eye-opening. It showed me the bigger picture of the industry.

[01:00:05] Tracy Hayes: It gives you a much broader perspective, right?

[01:00:08] Deanna Foerman: Absolutely. You get a sense of what’s happening in Tallahassee or Washington, D.C., and how it could affect the industry locally.

[01:01:00] Tracy Hayes: Right. And having that context helps with confidence in your work. How has education and involvement played into building your confidence?

[01:01:18] Deanna Foerman: It’s huge. For example, during Leadership Academy, we participated in the Great American Realtor Days in Tallahassee, advocating for homeownership. That experience made me more confident. And I also got more involved with NEFAR and now serve on the board, which opened my eyes to how much the association does behind the scenes.

[01:02:10] Tracy Hayes: That's amazing. What’s your third key to success?

[01:02:13] Deanna Foerman: The focus on relationships. People don’t value that enough, but for me, it’s natural. Building genuine relationships doesn’t feel like work to me, and it’s been essential to my success.

[01:02:30] Tracy Hayes: Some people struggle with building relationships. It can feel like dating—"Do they like me or not?" But in real estate, relationships are everything. It’s not just about the transaction, but maintaining a connection afterward.

[01:03:00] Tracy Hayes: I know someone who hosts Taco Tuesdays with different people every week. It’s a way to connect and build relationships in a natural setting.

[01:03:17] Deanna Foerman: That’s such a great idea! I actually schedule time with people, even if it’s just lunch. If we don’t set it on the calendar, six months could go by before we see each other again.

[01:04:37] Tracy Hayes: That’s important—being intentional about those relationships. By the way, if you’re ever looking for a night out, check out Limelight Theatre in St. Augustine. It’s a community theater and a hidden treasure around here.

[01:06:00] Tracy Hayes: So, what advice would you give to someone who's just starting out or considering a career in real estate?

[01:06:29] Deanna Foerman: First, find a brokerage that’s a good fit for you. If it’s not the right fit, nothing else will come naturally, and it could cost you your business. Also, look for a brokerage that focuses on training. The market changes so much, and it’s crucial to be with a brokerage that keeps you informed and supports your growth.

[01:07:25] Tracy Hayes: Right, and don’t just take the broker’s word for it. Talk to agents there and ask what kind of training they’re actually receiving.

[01:08:40] Deanna Foerman: Exactly. You need to know what the training looks like and how it’s delivered. Some agents prefer in-person training, while others are fine with virtual learning. It’s important to find out what works for you and then see if the brokerage matches that.

[01:09:32] Tracy Hayes: Great advice. And if they can, they should sit in on a training session to get a feel for the environment.

[01:09:46] Deanna Foerman: Absolutely. In fact, I have an agent from another brokerage who’s considering a move, and they’re sitting in on one of our trainings next week to see how it works.

[01:10:00] Tracy Hayes: That’s so smart! You want to make sure the brokerage is organized and provides value in their training sessions, not just winging it.

[01:10:16] Deanna Foerman: Definitely. You should leave those sessions with something you can apply to your business right away.

[01:11:21] Tracy Hayes: Anything else you’d like to add?

[01:11:24] Deanna Foerman: No, I think that covers it.

[01:11:25] Tracy Hayes: Well, thank you so much for joining me today. It was great having you.