How to Master Real Estate Investment & Increase Your Profit with Doreen Varon

Doreen Varon (00:00)
I went there, I’m speaking with a client and I’m just putting them into a contract. I’m not just showing and going and we having conversation. So that’s the difference. That’s why I don’t think I’m gonna have a group.

Sometimes it’s look wow, they have a group and it’s big and it’s look very, you know, like successful, but you losing a lot in a way. And also you’re making some time less because you put in your time with investing other agent. I don’t have this time. I just rather close it with myself and keep my people with me.

Scott Bursey (02:11)
your host, Scott Bursey. And on today’s show, we’re focusing on strategies for maximizing agent productivity and scaling a real estate business in a competitive market. We’re joined by Doreen Varon of Keller Williams, who brings deep expertise from years of successfully guiding and growing top producing teams across various markets segments. Doreen, thank you for being here.

Doreen Varon (02:36)
Hi, hello, nice day in here.

Scott Bursey (02:39)
It is

awesome, awesome having you here. And for our listeners who may not be familiar with your journey, please tell us, how did your career begin and what’s your focus now?

Doreen Varon (02:51)
career has began ⁓ more than 10 years ago. So I started as an investment and then I did my agent license. And at the beginning I was thinking maybe I’ll just do it for myself. But then I said, no, I think I can do more than that.

and I can use both the investment part, a little bit of lending and just gather all the knowledge that I have and just bring it to the table for other people and my clients.

Scott Bursey (03:34)
and your passion really resonates. That is awesome, Doreen. Doreen, what are a couple of your strengths right now that you’re implementing at Keller Williams?

Doreen Varon (03:46)
So the strange as a market, we’re talking about the if it’s a market was very challenging the past, especially the past five years when COVID started. So all guidelines and so many new rules became, and it was very challenging, but with the COVID actually, it was very good that time. Surprising, but good. So then I had, if I can give you an example,

house that many people in the industry they said no it’s not a good time to sell you’re not going to get 1.5 as you want just wait but then there was another rule with the rental actually this specific one was my home and

with the rent out that if we rent it, I know it like a couple of months before the rule came that the renter is allowed to stay on the property without paying. And then you need to ask a payment for the, from the city, but it’s also limited time. And I got stressed and I said, no,

the house is new. It’s new construction. There’s no way somebody will be living there and I’m not going to get the rent for that. And it’s a high rent.

So I need to sell it, but everyone said, you’re not going to get what you want. I said, it’s impossible. So I consult with my husband and he said, you know what? I want 1.9. And he challenged me. And I said, you know what? No problem. I put it on the market. It took me maybe four days to get into escrow for 1.9.

I got it. Yeah, yeah. And the comps. And I have to say the comps in that area shows it was the most expensive home in the area.

Scott Bursey (06:23)
That is awesome! Wow!

That is outstanding. Thank you for sharing that Doreen. And given your leadership experience at Keller Williams, how did you feel the complexity of building a high performing real estate team, specifically concerning team structure, models, profit sharing and lead generation systems affect the long-term sustainability and scalability of a successful real estate business?

Doreen Varon (07:03)
So you need to, we need to be very creative to renew ourselves. Think about, like now we have the AI. I think we need to study and do a lot of homework with that because this is the new generation and… ⁓

Just to ⁓ study as much as we can and learn new things because things are shifting, changing every year. Now it’s almost every couple of months. So it’s not an easy, it’s very challenging.

Scott Bursey (07:45)
No,

it’s very challenging, the one thing I take away from conversing with you is that you need to continually learn and educate yourself.

Doreen Varon (07:57)
Exactly. Yes, yes. ⁓

Scott Bursey (07:58)
And that is so,

so important, so very, very important. And what do you feel are some unique opportunities that might be at your fingertips here over the next, let’s say two to three years?

Doreen Varon (08:16)
Can you repeat that? missed the question.

Scott Bursey (08:18)
Yes,

as far as opportunities go, ⁓ your vision for something that you might be ready to capitalize on as a company at Keller Williams, something that ⁓ you feel that you might be able to really excel at here over the next, ⁓ let’s say two to three years.

Doreen Varon (08:44)
if you can be more specific because I’m going to a lot of directions.

Scott Bursey (08:50)
absolutely. Yes. Let me ask this. What do you feel are some of your strengths, your team strengths? How big is your team? Let’s, let’s go down that road.

Doreen Varon (09:02)
So I’m most of the time I’m working, it’s me. So everything is me and I have some TC, I have some lending people I’m working with, know, in the escrow company and people that I’m working on every transaction for many years. ⁓ If I need some time associate, but it’s most of it me. And the reason is I was

I put myself in situation that I didn’t want to grow that much because I’m going to lose…

not myself but the way I’m working people come to me and hire me for myself if I’ll give it to somebody else to do it it’s not going to be the same thing and I don’t want to lose my name and my reputation because whoever usually joined to a group is maybe one year two year they don’t have much of experience

and let me let me give you an example so I have that was actually for lease that I

had with my client and I did a purchase with this specific client I brought him the house it actually was very good deal and he then he said you know what let me try I want to

to check out and try with another agent. He tried to sell it and they didn’t, they couldn’t perform, they didn’t sell it. He tried to lease it and it didn’t work. The reason is the other person has a group and he sent a lot of new agent to come. Nobody could close it. And eventually my client came to me and said, Do you know what? I just, know you can do it. I know you.

listed and eventually it took me one week and with a higher price than what it was listed before because I was there and I’m telling you if I would send somebody else the result was totally different he would lose money and probably it was sitting on the market for another month two months or three months and he was upset so you know I earn him

and even more than before because now he knows that he’s gonna be and stay with me no matter what. He’s gonna sell it with me and listen and everybody’s happy. So

I went there, I’m speaking with a client and I’m just putting them into a contract. I’m not just showing and going and we having conversation. So that’s the difference. That’s why I don’t think I’m gonna have a group.

Sometimes it’s look wow, they have a group and it’s big and it’s look very, you know, like successful, but you losing a lot in a way. And also you’re making some time less because you put in your time with investing other agent. I don’t have this time. I just rather close it with myself and keep my people with me.

Scott Bursey (12:46)
That is an incredible story. It’s all about relationships in this business, isn’t it?

Doreen Varon (12:52)
Yes, definitely.

Scott Bursey (12:54)
What markets are you serving, Doreen?

Doreen Varon (12:58)
So more residential, ⁓ up to four unit can be six units. So the California laws has changed since 2020. And now they providing a lot of new codes, new rules with residential. So it’s not really residential anymore. You can call it, but it’s more becoming commercial.

kind of commercial, but not really, because you have the opportunity to build up to four unit or six unit or even eight unit on one lot.

So it’s very interesting. So this is where I’m adding my other ⁓ profession, which I’m a General B contractor, license. And, ⁓ you know, because I’ve done a few properties myself, I went to the city, I study, I’m working on the plans and everything. ⁓ So now when I’m working with a lot of investors, I’m able to help them to choose the right investor.

property where the house need to be on a specific area, specific zoning sometimes, and some specific layout if you want to save more money. So many details that counts if you want to do the right deal. So you don’t want to make mistake and pay more money. I’m telling them everything in advance.

and I cannot be fooled. I know the numbers. I how much those cost, how much it will be sold, unless the market really changing, you know, I cannot predict that much. But I’m sharing them, you know, I’m sharing them. If I have good deals, I’m going to give it to them and I want them to make money. This is my goal and I’m doing it.

Scott Bursey (15:41)
Absolutely, and some just great, great words there. Let’s discuss operational structure for just a moment here, Doreen. What specific business models or technology platforms are currently proving most effective for optimizing agent productivity when implementing, let’s say, growth strategy in today’s variable economic environment?

Doreen Varon (16:05)
So you’re talking about system or like.

Scott Bursey (16:10)
Yes, if we could focus on the system aspect of things, I think that would be a good direction that our listeners would like to know from you.

Doreen Varon (16:20)
So now ⁓ I’m working with the MLS listing. We have, so I’ll tell you honestly, the most ⁓ exposure platform is Zillow. There is Redfin, Zillow is very, very, very ⁓ big.

I think it’s kind of like Monopole and they taking advantage of it. So it’s becoming also very challenging and…

Also another thing is there is a few MLS. So every area you have a specific MLS. Sometimes you can lose and miss other listings because you cannot see a listing even if it’s in your area. So this is something that I hope in the future we’ll have something better than maybe Zillow or something that gathers all the information.

⁓ to one piece and it’s limited us. So I don’t know if all agents noticed that. For me, I had a few things and actually it was very helping me in this specific situation that I found a list and it doesn’t show all in MLS, so in my area. So other agents missed it. So instead of having…

20 offers. I had three offers so it was a lot easier for me to get this specific listing.

Scott Bursey (17:57)
Well

explained. Thank you for that, Jareen. And Jareen, what message would you like to leave with our listeners today concerning your business at Keller Williams?

Doreen Varon (18:08)
message ⁓ as far as let’s be more specific. I have a lot of things in my mind.

Scott Bursey (18:16)
absolutely. If you could just tell our listeners a couple of things that are on your mind as far as it pertains to what you do in the field each and every day.

Doreen Varon (18:27)
⁓ So I’m like I say, I’m focusing residential and investment. ⁓ I actually very like the investment part. I like to see broken homes and to see the potential and you know, be creative what we can do. How can we do it? Design it until the minute they’re on the market when they’re nice and beautiful and

customer going in and just saying such nice things about the property. really, it’s like a baby. Like something that you kind of being involved in growing and doing. So I’m focusing on that.

Scott Bursey (19:03)
us.

Absolutely.

And, ⁓ you know, that’s so rewarding, helping people and your passion really shows as well. Doreen, this has been just an absolute pleasure speaking with you today. If somebody wanted to reach out and follow your journey, our listeners, ⁓ where can they contact you?

Doreen Varon (19:37)
I have my social media. I have Instagram, Facebook, Google. I have my website, DoreenVaronProperties.com and LinkedIn. So I’m very easy to reach. I’m available, I’m answering, I’m responsive.

Scott Bursey (20:00)
Awesome. Doreen, this has been more than a pleasure. It has been truly an honor to speak with you today and much continued success for you.

Doreen Varon (20:09)
Thank you so much. Thank you.

Scott Bursey (20:13)
And for our audience, our listeners, we appreciate each and every one of you. Until next time, keep your standards high and your vision clear. We’ll see you on the next episode, everyone.