Daily Inspiration: Meet Randy Spalding

Today we’d like to introduce you to Randy Spalding.

Hi Randy, thanks for joining us today. We’d love for you to start by introducing yourself.
Wow! I’m 83 so it’s a long story. After graduating from the University of Maryland, I moved to the San Francisco Bay area where I worked in the banking business. After a number of years there I moved on to Los Angeles, and got my real estate license. I worked at a couple of resorts in the mountains and in Palm Springs, and briefly sold homes in the desert. I moved back to LA and went to work for a real estate company on the west side of LA. After a few years there I became the manager of the company. We had 140 agents, so it kept me busy. At the same time I became on a part time basis the broker for a mortgage company in Beverly Hills. I stayed with that real estate company for 23 years, and then quit and opened my own real estate company. Initially I had 40 agents, but the last few years it has been winding down which at 83 suits me fine. I operate my company, Spalding and Associates, out of my home having converted the dining room into an office. When i first got into the real estate business agents all went to the office every day, and other than when on appointments spent the day working in the office, but that was prior to cell phones and prior to PC’s much less lap tops. or any current technology. Now agents have little reason to go to the office, so on occasion my agents come to my home when they want to meet with me which they are welcome to do anytime, but it’s mostly telephone calls and emails including sending me all their documents as email attachments on any transactions they have. Otherwise i may only see them when they come to pick up a commission check.

Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
I’d have to say for me it has been a relatively smooth road. My income has not always been consistent, but i understand that real estate like the economy is a cyclical business, so I know there will be times when the real estate market is sl0w usually due to a brief recession or to high interest rates, but overall I have done reasonably well. When the market is slow, you do the best you can and wait it out. I have seen about a half dozen real estate cycles since i graduated from college. The real estate market is very slow right now primarily because of high interest rates, and very high prices especially here on the west side of LA where I am. Actually interest rates are not historically high but much higher than they have been over the past 11 or 12 years and that along with much higher prices has made purchasing a home here in LA unaffordable for a great many.

Thanks for sharing that. So, maybe next you can tell us a bit more about your business?
We are a small local independent real estate company. My agents have been in the business for many years, and most have been with me for many years, some have been with me since managing the prior company, so they’ve been with me for 20 to 25 years. We specialize in selling and leasing residential properties, mostly single family homes and condominiums but on occasion we have sold small apartment building. I have run the company since I opened it going on 17 years ago. Since I operate the company out of my home office, I not only have no office rent to pay but also no secretary or receptionist. I am very organized, and a very good administrator. and I have been in the business for a long time and know how to handle any situations that come up so operating the company for me is relatively easy, even when it got very busy. I don’t work with clients myself anymore, but have some very good agents scattered around various neighborhoods who are more than capable of professionally representing any client in buying selling, or leasing residential property, and my agents know i am always available day and night 7 days a week if they have a question or problem

Are there any books, apps, podcasts or blogs that help you do your best?
Blogging and podcasts are for younger people. At this point in my life I am not interested in doing that. Many of our clients are repeat clients or referrals. I encourage the agents to use social media, but that is up to them. I will support them in whatever they are doing, but I don’t require anything

Contact Info:

• Website: https://Spaldingandassoc.com
• Facebook: Spalding and Associates
• LinkedIn: Randy Spalding