Real(ty) Talk
Real(ty) Talk
Building a Real Estate Powerhouse with Zandra Ulloa
Tune in as we chat with the ever-inspiring Zandra Ulloa, a powerhouse in the real estate world who has amassed over $3 billion in sales. Zandra opens up about her journey from securing her real estate license in 2006, surviving the market crash, to establishing a successful team in San Diego and Riverside. With a leadership style rooted in family-like camaraderie and leading by example, Zandra’s story is a goldmine of inspiration and actionable insights for anyone in the field.
In this episode, we also dissect the importance of accountability and teamwork in real estate success. Zandra shares her team’s unique approach to continuous check-ins and sharing responsibilities to foster growth and support. Listen as we discuss the critical role of personal resilience, authenticity, and the transformative power of a strong team culture. You’ll gain valuable perspectives on navigating the current real estate market in San Diego, along with expert predictions for the next 12 to 24 months, making this a must-listen for both veterans and newcomers to the industry.
Finally, we explore what makes San Diego a magnet for real estate investors. With its stable market, vibrant culture, and investment opportunities across commercial, retail, and industrial sectors, San Diego is truly a gem. Through heartfelt personal stories, including a touching account of a military family's decision to retire in the city, Zandra illustrates the profound appeal of San Diego. We wrap up with insights on choosing the right real estate agent and the unmatched dedication that top local agents bring to the table. Don’t miss this episode filled with wisdom, strategies, and stories that transcend real estate, echoing a broader culture of excellence and genuine care for people.
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Later, this much time passed and you still can't say my last name. How do you say it? Is this being recorded, because you might?
Speaker 2:actually catch a murder.
Speaker 1:You might catch a murder on video right now. You, joa, you, joa, yes, what, honestly? You, joa you?
Speaker 3:Joa. Okay, zandra, you, Joa, you definitely knew that Did.
Speaker 1:I yeah, suzanne's like just admit it, please, just admit it, please. I knew that, saving your life.
Speaker 3:All right, welcome back Episode 17 of the Realty Talk podcast, your favorite podcast on the planet. We talk all things real estate. We have a very special guest today we do. Very, very special. I'm going to do some introductions. We have Zandra. You say the last name.
Speaker 1:I don't want to butcher it, ujoa.
Speaker 3:Ujoa, ujoa.
Speaker 1:Yes. I knew that.
Speaker 3:I know you did, but I wanted to hear you say it.
Speaker 1:Okay, you're about to have a fly attack you right now. It's okay, you sent him in.
Speaker 3:Okay, we always create nicknames for people.
Speaker 1:Okay, this will be fun so.
Speaker 3:I've heard you know Z. I've heard the Z.
Speaker 2:Queen Z, queen Z I don't know.
Speaker 3:We're going to have to think about this one. There's a lot of hummingbirds in the office, uh-huh.
Speaker 2:Uh-huh.
Speaker 3:Yeah, we'll get back to that.
Speaker 2:We're going to come up with something we actually changed. We have changed people's nicknames that we've got.
Speaker 1:Oh, looking forward to hearing what mine may be.
Speaker 3:Yeah, so we've got she's like good luck. Suzanne and we call her the queen of the closing table.
Speaker 1:Okay, I love that. It's very appropriate.
Speaker 3:Let's jump right in. So I think you know the intention is just to talk about you, know you and learn more about how you got to the position you're in today. So can you give us just kind of a backdrop on what you've created?
Speaker 1:Sure Well, for me, it all stems from just really having a team family right. I got my license back in 2006. Then the market crashed and I said, yep, not gonna happen, happen. Went actually into real estate part-time in 2011.
Speaker 1:At the time, I did partner up with a mentor but, I was never really taught how to open a lockbox or how to search the MLS, yet alone sign a contract, just a sign here type deal. So in 2011, I really recognized I wanted more of a family feel and I knew the only person who was going to create that was myself. So I decided to go full time after my second child was born, so my daughter was three and a half and my son was six months old. I went full time July 2013 and I haven't stopped since then.
Speaker 3:Yeah, so about All here in San Diego.
Speaker 1:All here in San Diego and Riverside, so we do dabble in our Diego, all here in San Diego and Riverside Okay, so we do dabble in our Riverside area as well too. But eight years as a team yeah, and it was about two and a half years solo and eight years as a team we've been able to sell over $3 billion, so it's been awesome.
Speaker 3:A billion with a. B $3 billion, yes Wow.
Speaker 1:Yeah, and with the help of my amazing broker partner named Suzanne, if you happen to know her, the queen of the closing table.
Speaker 2:The queen of closing table, full circle. Yes.
Speaker 3:Full circle. Queen Z and queen of the closing table. I'm going to have to get all these nicknames. Yes, started in San Diego, you dabble in Riverside. 2013 to today. What would you say has created your success? Because you've gone from it sounds like just you to a team of 50 agents. Today.
Speaker 1:Yes, so we have had a total. Our highest number of agent count, partner count, was about 68. Oh wow, and so we're down to about 15, or 50,. Excuse me, I think my heart wanted to say 15.
Speaker 2:Yeah, a little bit more manageable, but no, about 50.
Speaker 1:And to answer your question, it's. I've never gotten out of the trench. I've always shown by example. I've never just been the queen on top telling people what to do. I've been there showing and living the life through real estate and it's been the biggest difference.
Speaker 3:Yeah, what would you? You know people that are listening. What's something that you would want them to know about you that they don't already know?
Speaker 1:I have this image of just being Queensy, but I'm probably one of the. I'm a little too naive sometimes. I'm a yes woman, I'm a pleaser Because I see so much potential in other people that they sometimes don't see in themselves. So it's almost a challenge that I personally take, as a human being Got it. So that's in business and just general life, in life in general, yeah, okay.
Speaker 3:So tell us about your personal life. What's your personal life like? I'm a human being, got it, so that's in business and just general life In life in general, yeah, Okay, so tell us about your personal life, because I mean you're running a team of 50 agents. Do you have any time to do anything?
Speaker 1:Yes and no. You know, obviously now I have three children, so 15, 12, and 6. So it's been a little bit manageable. But I will tell you, this year has been life-changing for for me, just even for the mere sense that I have three children in three different schools. So I personally took on the challenge as mom to be the one to drop off my children and to pick up my children now, and it was important to me because there were so many years that I could not remember doing that. There are so many years that I'm blessed to have been a blessing to hire help and hire amazing people to help me. But it's been absolutely a non-negotiable for me to make sure that I pray with my children before they go to school, with all the crazy that's happening in the world, and picking them up to ask them, to be the first one to ask them how their day was.
Speaker 3:Yeah, that's awesome.
Speaker 2:And I have a question because I think you know you do mentor agents and you coach agents and I think one of the big questions is and you mentioned it initially, talking about maybe, in my heart, 15 agents. How is it possible and what? What is your best advice for agents that? Do you want to build a team, because you have 50 and you've had 68 and you still want to keep that work-life balance?
Speaker 1:So how do you?
Speaker 2:manage to do that.
Speaker 1:I'm just really honest about the situation that there's no such thing as a work-life balance. It's having a work-life dynamic but understanding how to work backwards on your time, having a non-negotiable start time, which is where you're actually opening your calendar, to a end of day where you're closing your calendar. So for anybody who says I want to manage a team, I want to start a team, it is the utmost honor to be that person, to be a legacy leader, to help people see the potential, but also to bring it out and to consistently show up. The reality is knowing that you can't want it more than them. And if you recognize that there's a partner that says, yes, I want to partner with you and you share the expectations and they share theirs. It is a non-stop check-in.
Speaker 1:The accountability in itself is what is most important. So, if you are committed to yourself as saying, okay, I want something different, it's a hundred percent accountability. Well, that same accountability you're giving to yourself, you must, and it is required to give it to the agent next to you. There is no gaps in between. Oh, you know what? They don't really want me to micromanage them. Okay, fine, but that you are still responsible for checking in on what they said they're going to do.
Speaker 1:So that's where having a level of expectation and just a hey, I'm gonna check in. What are you currently working on? What can I help you with? Hey, I did this. So we share everything on Team Z Our wins, our challenges, our losses and our pain More importantly, our pain, because we all know we all started at the same place right, with the heart and expectation to be successful, but then the in-between, and what? With the heart and expectation to be successful, but then the in between, and what we do when things happen to us, for us, against us, is what holds us together as a team partnership. So I can tell you right now the team is who they are today because of each other, not just because of me.
Speaker 3:So I was gonna ask the question of you know what is your personal superpower?
Speaker 1:I mean, it sounds like that's.
Speaker 1:I don't want to answer the question for you, but based on your answer, it sounds like that's accountability for yourself yes, and, and honestly holding myself to knowing my job good, I feel like, without the actual accolade or the certificate, I could be a real estate attorney. I'm constantly in my contracts, I'm constantly knowing if this, then that, and what if this, then what if that. And I'm super proud, though, to say that I do have such amazing broker support that when I do need to tap into it, I don't have to even think about it. It is my last resort, because it is my job to do my job, but having my broker and my broker attorney support me is what allows me to keep growing without having that extra pressure that I have to know it all yeah, so the other thing I heard you talk about is is the dynamic with the team?
Speaker 3:yeah, um, you know we've spent a lot of time talking about culture and how you create that culture. I mean, is that what you would define as the team's superpower, the culture you've created, or how would you define the team's superpower?
Speaker 1:I am so thankful I don't ever have to try to remember who I am, whether that's a human, a leader, a business partner, a friend, whatever that may be. The great thing about this year is that there's been so many personal life changes within myself that my team partners actually stepped up for me as we speak. We talked about this past Monday in our team meeting. We always hold our team meeting every Monday to reconnect. My team partners are planning our next team event because I just personally haven't had the energy to do so, plain and simple, and I'm not gonna sit here and lie and say it's been an amazing year and it's been, you know, just a year of wins.
Speaker 1:No, this has been the past three years have been wins and challenges where it would have broken a year of wins. No, this has been the past three years have been wins and challenges where it would have broken a lot of people. And here I'm standing because my team partners tell me Z, I'm here for you, you were there when I needed you and now let me be there for you. And our team culture has changed in a positive way to not be the same it was two or three years ago. Right, and that's what growth is all about not being stuck and stagnant to who we were known as, but becoming who we need to be together.
Speaker 3:Yeah, no, that's a great perspective. I mean, I think, it's kind of it's basic right, but what you put in is what you're going to get out yeah. Right, so if you have a team of 50 people, we won't say the word agent, right?
Speaker 1:Just people, partners, partners.
Speaker 3:And if you're constantly giving, giving, giving, giving, giving, at some point, if there is a moment in time where you need to take you don't have to ask they just step up and do it Well.
Speaker 1:I've been at a point in my life where I was continuously pouring from overflow and then, when I actually got a little low, I was still pouring from the low, which wasn't healthy for me and it honestly, at times wasn't healthy for business partners because I wasn't able to give my best. But I've always led from a place of your best should be good enough for whatever moment it is, and people never forget who you truly are internally. So when you do operate at 50%, your team partner can operate at a 150% to replace to become a 200% with two people.
Speaker 3:So I would love to pivot, if it's okay, okay and talk about the market.
Speaker 2:San Diego so what's happening.
Speaker 3:I mean, we talked a little bit before we got started. You know, the last couple years have been wild.
Speaker 1:Yeah.
Speaker 3:So what is happening today and what do you think is going to happen in the next 12 and 24 months?
Speaker 1:You know, with San Diego market and every market across, honestly I feel like the nation. There's just an uproar of curiosity right. We almost fear the unknown. The reality is, if is I've been able to see the market stay pretty stable, with inventory coming on and coming off. We're not seeing as many expired or canceled listings, because people are motivated to move and there are places in the world to move to, so that's a positive. The reality is is that our market is kind of everywhere. It hasn't hit a baseline and it hasn't done a roller coaster of whoa. I didn't expect that to happen.
Speaker 1:We've been pretty stable at just a little bit over 2,400 homes on the market and the same amount pending as well too so we're seeing a healthy transition come from, you know, going 62 days on market to down to 50 days on market, and I think that right now more than ever for San Diego, most people kind of do standstill during the holidays October, November, December. I feel like more than ever we're getting buyers who now know that they have to discuss agent relationships, so they're having more conversations. So they're having conversations sooner than they're maybe getting qualified, but at least it's getting people in the market right. They're not maybe moving, but they're in the market, which means conversations are happening. And then, once the carrot's hung, it's kind of like the fear of missing out. Well, what if this, what if that? Well, what if it happens for you and you can start now? So you know, for San Diego Market, I just say it's been fun, yeah.
Speaker 3:But your team is, you know, over the last couple of years producing 500 to 700 units.
Speaker 1:Our goal this year was another 500, correct, 500 units.
Speaker 3:Yes, and the market as a whole will close 20,000 units or so as an entirety.
Speaker 1:Yeah, so we were already. We're just about to hit our 300th transaction, so we're on track for the year, which is really great and even with agent partners going down in numbers again not to say it, better than it really is I'm really proud. And for market, for what it's doing in San Diego, I'm very proud that we're still on track to hit our goal and, again, our best is perfectly good enough for myself.
Speaker 3:But in terms of unit count you've got to be the biggest right Individual team, I mean, if not the biggest, the second.
Speaker 1:I'd probably say probably at this point, based on agent count, we're doing pretty well yeah yeah, because there are other teams that have four times more agents on their team and they might be doing two times more than us right now. But right, as far as predictability and what we know we're going to do, right we are. We don't have to add agents to keep our goal around 500 that's correct.
Speaker 3:That's awesome. Yeah, yeah, I think I I mean to your point. I feel like there's a lot of like oh, we're the have to add agents to keep our goal Around 500.
Speaker 2:That's correct, that's awesome, yeah. Yeah, I think I mean to your point. I feel like there's a lot of like, oh, we're the top team, we hear so much of that. But, I think when you actually break down the numbers like that, it's pretty glaring. You know who is actually doing that business and can claim those titles.
Speaker 3:Yeah, I mean, the math speaks for itself, right? So if you look at it from that vantage point, 500 units, 50 agents, on average your agent is doing 10 transactions a year. Each agent on your team or eight, call it eight and a half transactions a year. I think the average California agent does like 0.2 transactions. So I mean it's a massive difference and that goes back to culture. You, you know what else and then a leadership standpoint.
Speaker 1:I know every agents name on my team got it to me.
Speaker 3:That's a really big deal it's not a personal, I sure do.
Speaker 1:I sure do I sure do. I take pride in that.
Speaker 1:I take pride in that so the answer is yeah, yours is very simple, and I give you credit on not being able to always say it correctly. Most people can't, so it's okay. Okay, so, with that being said, no, I am very proud to say I know every agent on my team. That's awesome, and I try my best to stay in relation with them, to know what's happening in life, and when they are not showing up to their promises, I'm there to hold them accountable, to say, hey, how can I help you, help me, help us, and does this partnership still make sense?
Speaker 3:yeah, yeah, yeah, I feel you know we. We were talking about it on the drive down, you know, so for the listeners it's early September. Rates just came down again in the last two days. I mean, I saw some teaser rates kind of in high fives. I think a conforming loan as of this morning is like 6.1. What do you think will happen if we see rates in the high to mid fives next year, which you know? I think for clarity, it looks like that will take place.
Speaker 1:Yeah well, we've seen, you know. We've seen a lot of the marketing say you know why? Wait for the rates to drop? Everybody else is going to get in the market at the same time. We're going to get back to bidding wars, waiving appraisals, paying the different gaps. The reality is is that if you can afford rent right now, the best option is to try to see if you can afford a mortgage and work backwards.
Speaker 1:I'm always, I'm always living by the work backwards right when I mean I've been able to look at so many of my clients and say, because you did make that financial decision to invest in real estate, you are now up potentially $78,000 in the past year, right, and over $125,000 in the past two years. What rate is going to give you that return? If it goes down like it's just not, and as inventory continues to be slim to none, the prices will inevitably just continue to increase. So it's helping people see the bigger picture and we've seen some really great marketing analogies out there of showing people you know two people at the starting race, you know at the starting line at an 8%, and then 5% rate comes in and you have 2000 people. Let me know who's going to win Right, and so it becomes the blessing of having the agent who has an inventory and has a network in the, in the relationship.
Speaker 1:So, yeah, yeah.
Speaker 3:Yeah, momentum, right. So if you're doing 500 units a year as a team, you're going to continue doing that.
Speaker 1:And that's not even counting our property management, because we've had a lot of people say you know what I don't want to sell, I want to hold. And so we have quite a long list of property management opportunities that we know eventually our sellers, our landlords, will want to sell. And so that's still our off market.
Speaker 2:It's just a worst real estate story, my terrible experience buying a house in Spain. What do you have for us, Sandra? You have had a lot of real estate experience. So, whether that's a personal transaction, we kind of want to keep this party going with real estate stories.
Speaker 1:Mine is a little unbelievable actually. So about eight years ago, right before I started the team, I actually had a distressed property which was a divorce. Distressed Husband and wife were going through their dissolution and husband was all about I want to get out, I'm going to sign all paperwork and a day of closing. He actually leaked himself to the tree so he locked himself to the tree until his wife canceled the transaction and I mean Like a protest.
Speaker 2:Yes, Handcuffs and a chain. Yes, and you.
Speaker 1:So you were buying this house, we. I was representing the seller, oh, okay.
Speaker 2:Yeah, so I was representing the seller.
Speaker 1:No, I was not buying the house.
Speaker 2:I was representing the seller. Yeah, I was representing the seller.
Speaker 1:No, I was not buying that. I was definitely representing the seller. So the wife had hired me. He complied. Fine, I'll do whatever you want. And then the day of closing, when it was a reality that she was really moving on and selling the house, it was I'm not going to leave this home. This is our home ultimatum. Yeah, she talked him out of it and she still ended up. Yeah, she talked him out of it, talked him down, and they still end up selling the house. Right, because then legal gets involved.
Speaker 2:That day yeah.
Speaker 1:About an hour and a half later. Yeah. So I thought you were going to say you talked him down, no, and then I actually no, no had to this is the first I'm actually talking about it, because I had to, eventually he end up hiring an attorney and they had me sign a paperwork that I would not release the video I had of it as content. But it's been eight years, so I think I'm at that.
Speaker 1:Talk about it now so yeah, I mean, it's one of those like this is absolutely not happening. It was happening, yeah, so it was. It was really funny. Thankfully he was dressed, though he wasn't like in the nude or anything you know, he wasn't trying to remind his wife what he was missing.
Speaker 3:You know it could have been worse. Yeah, it could have absolutely been worse.
Speaker 1:And so I'll I'll never forget that property. So yeah.
Speaker 3:Do you have any personal real estate investment stories, like properties you've purchased or I?
Speaker 1:mean, I could tell you right now don't invest if you aren't willing to lose your money. And that's me just being honest, you know. I think that the reality is is that, yeah, you know, the past three to five years, everybody was on the hiatus of I'm making money and I'm super successful and I want to spend money to make money. And some of us have made some decisions and I can wholeheartedly admit, you know, yeah, I've partnered up with somebody at one point that promised the moon and I've yet to see that return and I'm, at this point, unfortunately, probably just gonna write it off. So my biggest, you know, blessing and saying learn from me is understand who you're trying to invest it with and, you know, read the fine lines and make sure that you get your contracts notarized and also recorded with the county single-family homes?
Speaker 1:yeah, yay. I have one other question about San.
Speaker 3:Diego, because I don't know the market as well yeah we're hearing that a lot of money is pouring into commercial and retail and industrial. So why? Why do? Because we have people that listen to this all over the US. Why do people live in San Diego like what? What is great about this market? I?
Speaker 1:mean the market in itself is. If we look at the data, if we look at the records, there's some communities that have never dropped in price, they've only increased. So they've been able to to retain their value and only increase substantially. But the reality is I mean, everybody knows right, san Diego, the weather is absolutely amazing and even when you're dying you can just jump in some of the water, not all of the water because, let's be real, do your research on some of the water.
Speaker 1:Don't hold it against me if you come down here, but the reality is is that I love that San Diego is so versatile. Yeah, I mean the food here, the, the culture, the walkability, everything right now is in.
Speaker 1:Some people will say it's pros and cons of gentrifying the communities, but it only just brings more culture, and I'm all about culture you know, so, being a military brat, born in Guam, raised in Hawaii and then here in California, my dad literally was about to be stationed in a different state and he was like I'm retiring, I'm not leaving San Diego, yeah, and so I almost feel like I owe it to my dad to stay in San Diego.
Speaker 2:So come to.
Speaker 1:San Diego, but you have to use myself or anybody up here as their real estate agent, or the sun will never come out for you.
Speaker 3:Well, there's nobody better.
Speaker 1:That's right, you better get the memo.
Speaker 2:Yeah, join Team Z or coach with Team Z.
Speaker 2:I mean, I think we highlighted it as far as the numbers, the culture, what she's built, it's honestly, I mean, we have downplayed you, I think for this episode for sure you know you're not going to find a better person to work with, but the talent and the energy and the love that she brings to every single person that she comes into contact with, whether that's a client or an agent or a coaching client, I mean, buyer, seller, doesn't matter I think you know, having that a part of your life and her drive to want what's best for everyone, I think is unmatched in our industry as a whole and really in life.
Speaker 2:So, um, yes, this is the woman that you want to call Um, we will have all of her information linked, um. So whether you are an agent and looking to grow, but really, quite frankly, I mean, even when you were talking, a lot of that was agent centric. But I think you can take so much of that to so many businesses and implement there, because really it's, it's a culture that you've created and it's not just about real estate, it's about the people yes, and I'm thankful for the greatness in it, the challenges in it and, more importantly, the lessons of it.
Speaker 1:So it's been great awesome, that's a wrap.