Loretta Phinney (Photos by Marko Shark)
By Connie Adair
When she started her real estate career in 1985, Loretta Phinney was determined to “do things properly, honestly and with kindness” but she says she wondered if it was the right approach. She needn’t have worried. The first year she joined Royal LePage, she was awarded the Chairman’s Club Award for the top one-per-cent of the company’s agents, and she has received the award every year since. Her team was just named the No. 1 Royal LePage team in Canada for 2011.
Her team was also No. 1 in 2004, 2006, 2008 and 2010. “We’re excited because it’s the first time that we did it two years in a row,” says Phinney. She’s also proud because her team of eight reps came out ahead of some teams with as many as 30 reps. The award is presented based on the amount of commission the team earned for the approximately 14,000-agent strong brand.
Phinney’s team also holds the distinction of being the only team that has been in the top four in Canada for 17 consecutive years, says her husband of 46 years and team member, Ron Phinney, Loretta’s biggest fan.
“I was very fortunate to get into an industry which I love and am passionate about. I’m doing it out of love. I don’t feel pressure. Because of that, I think of my clients first,” she says.
Many customers find Phinney through referrals, and many are repeat customers. “I have some people I have done 18 or 19 transactions for,” she says.
One of the secrets to her success is not to let her success go to her head. “I keep it simple. I keep both feet on the ground. (Realtors) are all doing the same thing. We just happen to sell more real estate,” she says. “I try to remember never to let success change me. I’m the same person as the day I started.”
Prior to becoming a real estate agent, Phinney was home raising the family for 16 years. Even then, real estate was a passion. “My favourite pastime was to go to open houses and read real estate ads.”
Even as a veteran Realtor, she says, “I’m still excited when someone calls me to go see their house.”
Phinney sells homes in all price ranges in Mississauga and Oakville, Ont. “I do a good job at any price range, from first-time buyers up. I just sold the most expensive house on MLS in Mississauga at $7.5-million. First-time buyers are as comfortable with me as people (buying) at $7-million,” she says.
Phinney works with her husband, Ron, and three of their four children. Kimberly has been on the team as a sales rep for 10 years. Tammy works as marketing director and Michael recently joined as a sales rep.
Working with family is a “90-per-cent pro” because she says her family understands the job. “We call on each other for help and spell each other off. The rest of the team also offers to help,” she says. They all have their own clients, but support each other.
The other 10 per cent? Having to be careful not to ruin family dynamics, she says.
The rest of Phinney’s team wasn’t recruited, they sought her out. Phinney says she has been told they are drawn by her reputation. And, “they know I’ll always have business to keep them occupied.”
Phinney strives to keep a small cohesive team, and anyone who joins must share and respect her values, both business and personal – integrity, honesty, respect for clients and a strong work ethic, she says. “I don’t want to pull them along. I don’t want to push them. I like to walk beside them. They work with me, not for me.”
Treating other Realtors and their clients with respect is of utmost importance, she says. “I keep it honest and straightforward and help other Realtors. We work hard with them and try to do what we can. We act promptly. There’s no showmanship. We deal with the task at hand. There’s nothing unethical.”
Over the years, technology has changed the business. “Technology makes it easier once you get your head around and embrace it. Technology is there. You have to make up your mind to use it. There is a learning curve, but you have to embrace it,” she says.
As for the future of the business, Phinney says the industry is changing “but people who want a good price for their home realize Realtors serve a part in getting that good price. Everyone can’t be good at everything. Business people realize a good Realtor is talented and should be treated accordingly. We need the public to respect us and we need to respect them.”
Advertising hasn’t changed much over the years, but Phinney is changing her website – it will now include a list of what she and her team do, including behind the scenes. The list, which outlines every step from pre-inspection until the house is sold and the lawyer closes the deal, is intended to educate the public about how much work Realtors do.
Phinney completes about five listing presentations a week, personally meeting with the people who call her. “I don’t send a junior.”
She and Ron also vacation three times a year – her favourite activity is hiking in the woods.
However her passion for real estate keeps her busy investigating real estate wherever they are in the world.
Phinney works hard and to keep up her strength, she hits the gym regularly and eats “the best, nutritionally dense foods possible. I’ve been blessed with good health and energy.”
Her biggest reason for her continued success? “I’m passionate about my job and getting it done properly,” she says. “It’s not about the number of deals, it’s the quality of the deals – getting each deal right. Whether you do a few deals or hundreds, make sure every deal is the best you can do.”
