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James T. Wanzeck Broker/ Owner Re/Max Masters Incorporated, Greenwood Village, CO

2004 sales volume: 33 million

Average home price: Resale $400,000. New $750,000

Software: Top Producer (a Canadian contact management and database software designed specifically for real estate), Virtual Office (applies the MLS data to a customized format), E-Neighborhood (maps and compares subdivisions), PDA, Microsoft PowerPoint

Referral Source Mix: Personal Sphere/Past Clients, Professional Sphere/Building Industry, and the Re/Max System.

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In Touch Today : How did you get started in the real estate business?

Jim Wanzeck: I’ve been in the business 25 years. I worked as a carpenter for Sanford Homes Builders while putting myself through college. Around the job sites, I noticed that the guys with the nice cars and the suits were the ones selling the houses. It looked like they were making the money and having the most fun. This intrigued me, so I got a minor in real estate. After college, while working in my own carpentry and home building business, I decided that I wanted to go into the real estate business. So I got my real estate license and applied at the Van Schaack office in Littleton. I got turned down, applied several other places, and wound up in the Van Schaack office in Aurora. I was there for nine years. I actually ran the Aurora office for three years as a manager and selling manager.

In Touch Today : How long have you been broker/owner at your current office?

 Jim Wanzeck: I started in February of 1989 and the office has since grown to 110 agents. We are the sixth largest volume real estate company in Colorado. We're the largest real estate company in Colorado under one roof. In 2005 our staff included seven of the top 20 agents in the mountain states region (a five state region around Colorado). I think Re/Max Masters has consistently had the top producers because we have great experience, energy, passion for the industry and a willingness to work together to better our industry.

In Touch Today : It sounds like you currently have more veteran than new agents. However, in the past, you’ve worked with new agents. What mistake do you typically see new agents make?

Jim Wanzeck: People think that the real estate profession is any easy business to get into. You don’t have to invest a lot of capital to begin; it only takes six weeks to get a real estate license and become a real estate salesperson. So many new agents never get properly trained on the basics of the real estate business. New agents are going to flounder without great direction and mentors.

A couple years ago, after I took over managing the company for the second time, we decided to organize a small group of mentors to watch over new agents. Our new agents are very productive after going through the mentoring program.

In Touch Today: What is the turn-over for new agents in the business?

 Jim: In our industry, there is about an 80% failure rate. However, we have less than a 5% turn-over rate at our company. We’ve lost very few agents.

In Touch Today: What mistake do you see veteran agents make?

 Jim: They lose perspective and get complacent in their position. They begin to feel that they are above doing "the basics" every day. Those veterans who are successful are still learning about new technologies and opportunities. The one great equalizer in the real estate business is that it doesn’t matter what walk of life you came from or what you have today, but what you do today that is going to make your success for tomorrow.

In Touch Today: If you had a son or daughter entering the business, what advice would you give them?

Jim: I have two boys in college. My oldest is a senior at Eastern Illinois and is going to be a 35 game starter for Eastern Illinois as a defensive end. He loves football and aspires to be a coach or follow in my footsteps in the real estate business some day.

My second child is in Scottsdale Community College, also playing football. He was the senior captain of his high school state championship team. My daughter is a senior at Ponderosa and captain of her dance team. I have the greatest amount of respect for the way she’s conducted her life so far.

If any of them decide to enter the real estate business, I'd tell them that they better have a passion for their business. It isn't enough to be enamored with shiny cars and big lunches as some people in the business are. You have to get belly-to-belly with your prospects and grow your sphere of influence. You have to be willing to work real hard in this industry because it is not an easy business.

You never know, no matter how long you’ve been in the business, when your next deal is going to come down the line. So you have to be prepared at all times. You could get that important phone call at 10 o’clock at night and you’ll need to respond to it. The ease of getting into real estate, and the glamour of making a good living, are deceptive. Applying yourself to "the basics" is what it takes.

In Touch Today: Keeping the basics in mind, what would you say is your best turnkey sales or marketing idea?

Jim: I always tell young people entering this business to find 10 people in similar situations, but in different industries, and start a monthly group. They should get together and share business ideas, business failures, and business positives and support each other in their respective businesses with referrals.

In Touch Today: Did you do this for yourself when starting out?

Jim: That is probably my fondest memory in my business. Getting to know others and networking with them to the degree that we were accountable for each other’s successes.

In Touch Today: Who or what has been the biggest contributor to your success?

Jim: The animal instinct to survive and support my family. I wanted my family to have the best chances for success in life that they could. I don’t think the fear inherent in being a commission sales person has ever really left my side. I’ve always had to think, “If I don’t get up this morning and do what I need to do, the people depending on me will be let down.”

In Touch Today: If you had a magic wand, what would you change about your business? If you wouldn't change anything, what are your current goals?

Jim: My passion for the future is to ensure Re/Max Masters has a place in the market that people respect. I want us to be a company made up of good citizens who give back to our community both through charity and business. I want us to help others in our industry succeed. I wake up every morning and think about how I can be a better person, improve our business and do what is right for the community.

In Touch Today: Is there anything else you’d like to share with others who aspire to the success you’ve obviously created within your company and within yourself?

Jim: Make sure that you don’t go into real estate with starry eyes. You must actually have a passion for helping and supporting others. You’re only as good as your current customer and, in our business, it’s all about getting down to basics and making sure you are servicing the needs of your clients.

Give 110% effort every day that you are in the office. But also understand that there is a balance you need to maintain. Allow yourself some leisure time as well so you don’t lose your passion. Some of the highest producing agents are the unhappiest in the business because they don't have that balance. But I’ve seen those who have found the balance and who don’t work 24 hours a day be the most successful. They may not have the most money, but they do have the gratification of helping another person satisfy their basic housing need and doing their best for every client.

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