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NOW
"Now" is a captivating podcast hosted by two dynamic women in the real estate industry who have achieved remarkable success through their unwavering dedication, disciplined approach, and the fearless courage to take bold actions right now. Join us as we explore the world of real estate through their expert insights, inspiring stories, and practical advice. Whether you're a seasoned professional or just starting your journey in the real estate world, "Now" offers a wealth of knowledge, motivation, and strategies to help you make your own big moves and thrive in the ever-evolving real estate market. Tune in and discover the secrets to success in the world of real estate, right here, right now.
NOW
Rebranding and Resilience in Real Estate
What if navigating the real estate market's stormiest seas led to an unexpected triumph? Join us as we uncover the inspiring journey of Brian Domingos Jr., a real estate professional who defied the odds by founding Premier Valley Realty during the economic tumult of 2009. Discover how his perseverance, deep community ties, and mentorship from figures like Donna Pride helped him build a thriving business. Brian shares his unique insights into the intersection of politics and real estate, and how taking control of one's destiny is a vital part of success in this industry.
As the real estate landscape shifts beneath our feet, Brian sheds light on the unprecedented challenges professionals face today, drawing intriguing parallels to the market downturn of 2009. We explore the significant drop in transaction volumes and the pressing need for realtors to articulate their unique value to clients amidst fierce competition and changing consumer behaviors. Learn about strategic rebranding efforts, AI tools for identifying trends, and the untapped opportunities in the Central Coast market, all of which play pivotal roles in navigating this evolving market.
Brian’s story also highlights the importance of balancing personal production with the demands of running a brokerage. By diversifying income streams, including launching a pool maintenance and property management company, he alleviated financial pressures and embraced new ventures. We venture into the hotel and Airbnb markets, explore personal connections to iconic California locations, and celebrate the exciting rebranding journey of Premier Valley Realty. Conclude with us as we express gratitude for Brian's contributions to the community and the real estate industry, looking forward to the future opportunities that await.
Connect with Brian:
Instagram: @brian_domingos_broker
Facebook: Brian Domingos Jr
Website: www.premierevalleyrealty.com
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https://www.youtube.com/@nowpodcastforreal
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My hair is really poofy today. Mine looks great, Super poofy, I look good. I was with Warren and said Mom, your hair looks great. I was like I think it looks good.
Speaker 2:I think we're ready to record American Dream tonight. Get it. Can I just wear this? No, you absolutely cannot wear that.
Speaker 1:Welcome to the Now Podcast Making Moves in Real Estate. This is episode 38. And today our guest is Brian Dominguez Jr, whose passion for real estate began in his youth, after earning his license at 21,. He's sold hundreds of homes in the Fresno area also the coast, I should say and founded Premier Valley Realty, a company built on putting people first, which he started from a bedroom in his home and grew into a thriving business about 24 agents and two ops individuals. Brian is also deeply involved in his community, serving on the board of directors for the Fresno Association of Realtors and previously serving as a planning commissioner for the city of Clovis. When he's not working, he enjoys traveling with his wife and three children. So let's dive into Brian's incredible journey and community impact. I'm super stoked because I think I've been trying to get you on our podcast for how long now, brian?
Speaker 3:It's been a while. You're persistent. I like it. You understand the key to follow up, so that's a good skill to have in this business.
Speaker 2:We don't call her the general for nothing. Yeah, she's good, she is good, thank you. I think that's her pharmaceutical sales background coming out.
Speaker 1:Well, I saw you on the news a while back and I was just so impressed and I'm like we've got to get this guy on our podcast. So let's, let's tell, let's give a little background to our listeners on on who you are, and then we'll dive into some more um industry based questions.
Speaker 3:Oh sure, yeah. So I started in 2003. I was uh 21 for the local century 21 at the time, and um sold for a while and kind of learned the business. And then I went and worked for a development company kind of learned the business. And then I went and worked for a development company that provided entitlement consulting, so large developers and landowners that wanted to develop commercial real estate would hire us to help shepherd their projects through the planning commission and the city council. So that's where I really learned about the intersection of politics and real estate, because it was my job to lobby local and appointed officials to get projects approved and so the relationship building was really interesting to me and I learned how to connect with people in a way that was meaningful and helped our clients and I learned a lot.
Speaker 3:So I did that for about five years and then I actually did a stint at the Fresno County Farm Bureau for a while as the director of operations. I learned about ag and water and air district rules and then got my broker's license and started selling again. For some reason I got drawn back. A lot of people leave the industry. I never really left real estate, but I left the sales side, and the residential sales side for sure, and I missed it. So I went back and started my own brokerage. And yeah, that was quite a while ago, in 2009.
Speaker 2:Yeah, let's talk about that. Actually, because I got into real estate around the same time I was doing lending previously. That was a tough time to open a brokerage. 2009 be how.
Speaker 3:tell us about that part of your life yeah, it was, and it's funny, I think we have a mountain connection. I went to yosemite high school, um, and so I, in high school actually, I worked with donna pride and, oh my gosh, yeah. So you know she had a red jeep back then and red nails and a red leather jacket and we would ride around the mountains and, uh, she waved to everybody and I learned, you know, that was kind of where I really learned about persistence and follow up and relationships from Donna too, at that age. And yeah, I think what I learned was I wanted, I had some experience working for other people, and I wanted that independence and the ability to have control over my own destiny.
Speaker 3:And I remember one of my former bosses said, stick with me, kid, and I'll make you rich. And I know he meant that as a compliment. But as I thought about that, I thought, gosh, it's really not up to you to make me rich. That's a destiny that I get to decide through my own intentional effort. And so I thought this is the time I wasn't married, I had a relatively low mortgage and a car that wasn't very expensive, and so I thought I'm going to save some money, and I went back out and just decided that it was then or never. And if I could make it in 2009, I'd certainly be able to make it in any other market as well.
Speaker 3:So, it worked out.
Speaker 2:Well, we hear a lot of comparisons between the 2009 to now. Obviously a different type of market, but as far as like number of transactions go, we're quite down as a nation with the volume count that we have.
Speaker 3:Yeah, I saw that. I just read that it was the lowest transaction count since 1995.
Speaker 2:Wow, that's kind of crazy. How have you been guiding your team? What have you guys been doing from a leadership standpoint?
Speaker 3:Yeah, there's some real challenges besides just the low transactions. Right, I mean the largest structural change we've seen in our industry in 100 years, probably in terms of lawsuits and how we do things and how we interact with people and getting them to sign agreements before they tour houses. Right, I mean, we've had some real challenges in addition to the fact that we're making less money, and so I I, as the president of the association last year I got a preview of what was coming and, um, what I really harped on with my people is you really have to know your value, because I would travel around as the president of the association and I would ask you know rooms full of realtors, what's your value and what do you do every day for your clients? That set you apart, and they couldn't answer the question. I'd get blank stares, you know, and I thought this is a crisis for the real estate industry, because we're not used to articulating what we do in a consistent way that resonates with people. We just go to work and we do it, and we put out fires and we solve problems and we try to make it as stress-free as possible, but when we're asked what that looks like, we're not able to describe it.
Speaker 3:So that was a real challenge, I think, and so I started having those conversations with my people and putting them on the spot in sales meetings and asking them what's your value? And they would get uncomfortable and kind of scrub around in their seats and then we would talk through and say, okay, you have to. You have to be able to answer that question right. If you're, if there's less transactions and more realtors, you're going to be interviewed at dining room tables all over Fresno as people try to make decisions about who's going to represent them, and you have to know why you're better and what you're going to do. That's different. So we've been having that conversation for a long time and I think that has helped people feel more confident in some of the changes that are happening. It gives them something to talk about with their clients and their friends and their family. When people ask about real estate, they have something to say and I think that's important.
Speaker 2:Yeah, absolutely, I was looking up. I had taken a class that our organization had put on and it was on AI and all these different tools you can use, and one of the things that they recommended was this platform I don't remember what it was called, but I looked at it yesterday. Of all the main search words of what people are looking, and the number one when you type in for home buying, they're looking at how to buy a home without a realtor.
Speaker 3:Really, that's interesting.
Speaker 2:Whoa yeah, it was very surprising to me to see that.
Speaker 3:Yeah, it's kind of scary. I mean I think again we haven't done a good. I mean I think the industry, we just haven't done a good job of telling people, showing people our value.
Speaker 2:You know, unfortunately, literally we're not just door openers, right, that's what something. And often the fires that we're putting out, our clients don't even know we're just doing it. You know what I mean.
Speaker 3:Yeah, absolutely. It's part of our service, but it's okay to talk about it too.
Speaker 1:Right, so you have um business in Fresno market, but also on the coast, correct?
Speaker 3:I do. I have one agent that wanted to retire over at the coast. So we're pretty small over there. We were in the process of getting a brick and mortar over there and then the market shifted and then I'm in the middle of a company wide rebrand. So we had a different brand over there, cypress Properties, and then we were Premier Valley Realty in Fresno and I paused that because we're rebranding under one name so that we, when we do open over there, the the consistency of the brand is in both places, because we were losing the connection of our listings there to our, to our clients here. So yeah, kirk, is it morro bay? And we and then I go back and forth to we service kind of the morro bay, cambria, cayucasos market, san Luis a little bit, but there's a lot of opportunity over there and it's a lot of fun to drive over and sell property at the Central Coast. So it's a good excuse for me to get over and bring some fresh sea air once in a while.
Speaker 2:I love it. Our daughter's going to Cal Poly, which I brought up a few times on the pod, so now I'm just addicted to looking at real estate on the Central Coast. I have alerts for all the different towns and I have noticed quite a few price drops.
Speaker 3:Yeah, there's a lot of price drops over there right now.
Speaker 2:Like significant ones $50,000, $100,000. I'm like ooh, this could go well for me.
Speaker 3:Yeah, exactly, keep an eye out. You'll get a lesson on board buying something you.
Speaker 2:Ooh, this could go well for me. Yeah, exactly, keep an eye out. You don't get nothing on board to buy something you got to get a whole thing.
Speaker 3:I think there's a good opportunity for investment over there. I think that's kind of the last little sleepy coastal town in California, those central coast towns. There'll be some opportunity, I think. So buy and hold it.
Speaker 2:Right Now you also do property management, correct.
Speaker 3:We do yeah.
Speaker 2:How's Now? You also do property management correct? We do, yeah, how has that been? How are rents compared to mortgages? You hear a lot of varying things on people. Some people think, oh, I'm just going to rent, it's going to be cheaper to rent. Other people say, oh, your rent is the same as a mortgage. What are you seeing through the eyes of a property manager?
Speaker 3:Yeah well, the rents are high. What are you seeing through the eyes of a property manager? Yeah well, the rents are high. In 22, we saw the largest increase in Fresno that we had seen in a long time. And when I say high, I think they're high for what people are used to here Still pretty reasonable compared to other parts of the state but I think it's challenging. It affects affordability.
Speaker 3:I do think a lot of people can afford the payment, but they don't have the down and so they continue to stay as renters, and I think it depends on where you're at in your life.
Speaker 3:It's not bad necessarily to rent. I've had clients who've sold property and want to bank that money for retirement and live in something that somebody else is going to maintain and pay the property taxes on, and they want something that they can just rent, and I think that that's fine too. But yeah, the rents have increased, which has affected a lot of people. You see a lot of people that are moving in together, families that are multi-generational, that are coexisting, roommate situations that people wouldn't normally have. But I will say there's a lot of mom and pop like housing providers we're calling them now and sort of landlords that we represent that don't raise rent, and I think that story gets lost a lot in the media when we're talking about affordability. There's a lot of people who are happy with a tenant that takes care of their property and has low turnover and they've really kind of subsidized their housing costs for a long time without doing those increases.
Speaker 2:There's a lot more of that than you hear about for sure. How many doors?
Speaker 3:do you guys manage? We manage about 700, I think Wow.
Speaker 2:Our portfolio is about 400 single-family homes and the rest are small apartments. How many years?
Speaker 3:have you been doing that?
Speaker 3:I started the property management company in 2017, and we grew to about like 130 probably. And then I bought out Massero Property Management, which had been in Fresno for 10 years, and Misty Massero was a friend of mine and she called and said you know, I'm going to get out and I'm going to sell the company. So we started talking and you know the nice thing about being good friends, it could be over a vodka on an afternoon and just kind of mapped it out on a napkin and decided, okay, let's do this. And so she stayed on as a consultant with me for a while and then I got a lot of her key staff that had stayed. So we have about 10, I think, over there on that side now employees. And as the market shifted that you know I didn't know it at the time, cause when I, when I bought her, the market was great. Everybody was making a lot of money, but as the market started to shift, it became a really nice reoccurring revenue every month to have that kind of stabilized operating costs. So it worked out.
Speaker 2:Do you manage that or do you have someone that helps you with it?
Speaker 3:I have people that help me with it. Yeah, I oversee the big problems. You know we have frequent team meetings and kind of go through some of the challenges that I help with, but the day to day stuff is all managed by other people here in the office.
Speaker 1:Well, I have the independent brokerage. Which Did I have? That agent count correct 24? I just counted.
Speaker 3:Yeah, that's probably true. On the roster, you know, and just like most brokerages, how many people actually come to work and sell every day is probably half of that. But yeah, that's probably accurate.
Speaker 1:Well, so we know what it's like having an independent brokerage. Courtney had hers for 12 years, which I've been at her hip for 10 of those years, so, um, I mean obviously have a great team. It's been difficult, I'm sure you know, being an independent broker through the years and all the changes, um, but you've managed to do it.
Speaker 2:Any advice for other indie brokers out there?
Speaker 3:You know it is hard to be an independent broker and there's multiple times and you, courtney, your company grew big. I mean, I remember seeing your name and then seeing it a lot more and you guys really gained a lot of market share relatively quickly. I think I don't know if I knew you were 10 years old. It felt like you grew really quickly. Yeah, it's tough. I think I don't know if I knew you were 10 years old. It felt like you, uh, you know, grew really quickly. Um, yeah, it's tough.
Speaker 3:I think it depends on what you when I started, when I go back and I think about you know, working in my bedroom and my house in Clovis and starting premier Valley realty with a vision of having a large brokerage and walking into the reception desk and seeing the name behind, you know those kinds of visuals that you see as an entrepreneur and then they start to come to fruition. And one of the things that I never did, I contemplated I never got out of personal production myself. So the brokers that were, I just don't have that personality to go sit in the big corner office and hope that people come to work and work every day and make enough money for me to get a cut and live on that's. That's just not how I'm. I'm programmed. You know the too stubborn for other people to kind of be in charge of my, my income.
Speaker 3:But what I will tell you is that you know lots of times as an independent broker, your personal production, if you're producing, is subsidizing your costs right. So that is challenging for a lot of independent brokers when you're trying to provide tools and resources and good training and you're out showing property and writing your own contracts and so that pull I felt for a long time. Now it's not as bad. I have a great team on kind of everywhere. Every company that I have or division has a great team underneath it. That's really supportive. But it did require that I diversify my income because just a brokerage alone, if I didn't I have a pool maintenance company, we have the property management company. If I didn't have some of those other revenue streams, that pressure would be a lot more challenging.
Speaker 2:I mean that makes sense. My CFO kept telling me to get a property open a property management company and I just have no desire. We have a hotel and I have a manager I've done the Airbnb thing for a long time and then just a handful of rentals and I'm like, yeah, that's enough. I don't think I want to handle all the tenants and potential evictions or whatnot. I think you just have to have a right mindset for it. But it sounds like you have a great team helping you, which is awesome.
Speaker 3:It is. It's a lot of how's the hotel business. That's always been really interesting to me.
Speaker 2:Actually, really it's going really well this year. You know, the Airbnb market is kind of we're hearing different things like, oh it's going to go away, hotels are going to be back, and then vice versa, and so our zoning is a hotel, but we have ran it through Airbnb for the last few years. This year, though, we actually started a direct booking as well, which has been nice because we didn't have all the fees, so we've been fully, fully booked. I mean, everybody wants to go to the national parks, yeah.
Speaker 2:So, even what economy. I feel like if you have a short-term rental outside of national park, you're probably going to do pretty good.
Speaker 3:Is that in Mariposa?
Speaker 2:It is in downtown Mariposa, just sitting in it. Yeah, actually it's a real estate office in the front and then the hotel behind. So that way, if any of our guests have questions, they come in the real estate office to ask us.
Speaker 3:Very good, yeah, that's smart. I like that little built-in pathway there.
Speaker 2:Exactly.
Speaker 1:So you said you went to Yosemite High School. Do you have family in the Oakhurst area?
Speaker 3:My mom and my stepdad are in Yosemite Lakes Park.
Speaker 1:Oh, cool Okay.
Speaker 3:So there was no minarets back then. So we all went up to Yosemite.
Speaker 2:Nice.
Speaker 3:When reds back, then so we all went up to yosemite right and I worked.
Speaker 1:What was that? When did you graduate?
Speaker 2:2000 oh god, I'm older than you. I'm one year older. You're a lot older, like way older than you. He's really not that much older.
Speaker 1:Here's the thing is I saw that you got that like 40, that 40 award best of 40.
Speaker 3:Yeah.
Speaker 1:Yeah, but that was like. I did the math on the year and I'm like, oh, that was a while ago, I don't know that that's a like a relative or a recent thing to mention, so I took it out. I was thinking we were more nevermind Trying to age him.
Speaker 2:huh, Michelle, Trying to make it all be your age.
Speaker 1:I was thinking maybe we had mutual friends because I played volleyball. So I know a bunch of people that went to school there but they would be much younger than you 95 like that's. You know there would be nobody. You would know that I know.
Speaker 3:Heather Heinbach, Jeremy Heinbach.
Speaker 2:Nope.
Speaker 3:No.
Speaker 2:Sounds familiar. Nope, we're going to have to. I'm much closer in age because I'm only one year older than you.
Speaker 1:So you know we're going to have to hang out, like go do lunch or something so we can chat about Yosemite High School Sounds good. So Competition, I know, competition, I know I. I mean I loved going over there and playing, so it's, it's a good day, but anyways, that was a long time ago. Back to real estate. Um, I was curious, you know, obviously it's. I feel like every time we have people on our podcast, like you would have to ask, like things that you're seeing since the changes that that came up, um, any nuggets that you can share with our listeners on what's what, what your team's doing, what's working. We want to, we want to share that information.
Speaker 3:Yeah, I think it's been a lot better than we thought it was going to be. I mean, I think you know there was a lot of fear around the changes. We didn't know you know how to, and I even felt struggled with that because it's a this is relationship-based business, and I never leave with an agreement before I show somebody a house, right? I mean, that's just not a practice that I was used to, where I said you know, I'd love to show you that property at 4 o'clock, but I just want to let you know that you're going to have to sign an agreement with me that says if you buy it, I'm going to get paid and ultimately, you might be responsible for that. That was not part of my sales pitch when I'm trying to build rapport with somebody, but you know what? It's been okay and there's options, and I think the way we talk about it trying to make it as normal as we can, Hosting open houses was interesting.
Speaker 3:I've never been one to force people to sign in, but now I have to and it's actually been good. So it's actually challenged me someone that's been in the business a long time to do things that I teach other people and tell other people they should be doing and haven't been so great at myself, and so I've had to sharpen some of those skills. And it's been fine. People are signing agreements, we're still making money and we're still explaining in a better, more cohesive way now why we deserve to make that money and what we're going to do for them to get it. So I've been pleasantly surprised. We'll see how, how things continue, but so far, so good.
Speaker 2:I feel like it's been the same for us.
Speaker 1:Yeah, it's been. The only awkward ones have been like the out of area conversations. You know the clients that are calling from the Bay area that are like we want to come up tomorrow at 8 AM and see properties and you're trying to navigate those discussions so that those have been tough. I'm sure you've had the same ones.
Speaker 3:For sure, and I've funny, I've had friends who are looking at property in other parts of California that I don't service and they've called and said this is this isn't true, right, like this lady literally will not show me this house unless I sign this agreement. And I said, yeah, that's, you know, it's across the country. So good news is it's, it's everybody should be doing it if they're doing their job right, we all have to. That's a barrier that we all have to deal with. But it also gives you an opportunity to to interview different realtors and see, you know, you can't call off of a sign anymore and cause you even you can, but you may be obligated to using that that agent. But it gives the consumer, I think, more time to do some research.
Speaker 2:Make sure they get a good negotiator.
Speaker 3:Right, but yeah, it's different. It is awkward. I think the one page option that we have, that's more short term and just defined a particular property gives people a little bit more confidence that they're not going to have to be stuck with us they don't like us for longer than than that day, right.
Speaker 1:Right, have you had, have you had, any clients where you've just, like chart, have had to charge, like to open the door, like that, have refused to to um, sign an agreement for, like? I was just thinking that difficult client that wanted to like, wanted to see the property but did not want to sign the agreement. I'm like, listen, I'll, I'll go open the door for you, but it's going to cost a certain amount of money. And he was like, well, I can't pay that. And I'm like, well, I don't. I mean, let's walk through my time. Yeah, redo my schedule. I'm going to have to drive out there, I'm going to have to show you the property, drive back. That's two hours. So you know, I mean, and that didn't work.
Speaker 3:Yeah, and well, for you guys too, your travel time is, you know, could be, more.
Speaker 3:I think that to your point though the good thing about it is, it gives us an opportunity to weed people out more. None of us really have time to be driving around showing people that aren't ready and aren't willing to be commitment, and so it gets you. You learn quickly if they're serious or not, and that's actually been kind of helpful. I used to drive, even even busy. I would drive and think you know, I got to do it for my seller, or you never know what, you know what's, and now I just those. Now we can ask better questions.
Speaker 2:Yeah, yeah, and that there's always a silver lining to you know, to every change. I feel like yeah yeah, for sure.
Speaker 1:Yeah, well, it's been really great getting to know you. I really appreciate you. Finally, I mean, I feel like I was a little relentless.
Speaker 2:Shocker. That does not surprise me at all.
Speaker 3:Yeah, no, all you did good. You have good skills. It's funny some of my own people can't even track me down like you did. So I like the follow up it's like a bulldog.
Speaker 1:Well, you know what am I going to say. So we'll have to get together at some point when we're down in Fresno just to meet in person, and it's been so nice getting to know you.
Speaker 2:Well, and now we know he likes vodka because he brought it up. So that means maybe we can go get martini Got it. Martini yeah, definitely.
Speaker 3:Hopefully the relentless pursuit was worth it. You could close this and be like gosh. Why did I try so hard? Hopefully that was a good time. Oh no, I did. I try so hard, you know, hopefully that was a good time.
Speaker 1:Oh no, I mean, I want to like learn more, like I'm like what other businesses do you have? I mean, we got the pool company, we got property management, we got the real estate, like what else, what else?
Speaker 2:I mean, isn't everything. I want to know more. Sometimes, like 30 minutes isn't enough.
Speaker 3:Well, if people want to reach out to you, brian. What's the best way to do so? Gosh, that's a good question. So I have, I am on, you know, the normal social media stuff, except tick tock, just I think, since my Instagram, I think, is Brian Dominguez, broker, and then Facebook is just my name and, of course, my website is premier valley realtycom, or my cell phone, 559-269-7063.
Speaker 1:Okay, one last question. You touched on the rebrand when. When is that happening? Like, when can we expect to see more on that?
Speaker 3:Hopefully a couple of weeks. That's our goal.
Speaker 2:We've been through rebrand, we know how much work that is Wow, that's exciting. That is exciting, it's a lot of work.
Speaker 3:Yeah, new name, new colors, new everything. New logo.
Speaker 2:New name for both, like your no More Premiere, new logo. New name for both no more Premiere, no more Premiere or Cypress.
Speaker 3:There'll be Cypress, but Premiere is getting a new name.
Speaker 2:Oh, exciting. Well, I like Cypress. I think that's I like it.
Speaker 1:Yeah, okay, so okay, it's exciting. We'll watch out for it on Instagram. We should have timed this a little bit better. You could have, like, launched it on the phone.
Speaker 2:Well, we'll just have you back on, yeah.
Speaker 1:Alright, well, thank you so much for your time, brian. It was so great to finally meet you, and we appreciate all that you do for the community and for your clients.
Speaker 3:It was fun. I appreciate the opportunity.
Speaker 2:Yeah, thanks, brian, have a good one.
Speaker 3:You too. Thank you, it was fun. I appreciate the opportunity. Yeah, thanks, brian. Have a good one you too. Happy Friday.