The True Test of Building a Successful Team: Veronica Figueroa On Her Team’s Journey From Chaos to High Standards

This is Real Estate Team Builders and I'm your host, Lars Hedinborg, the founder of Real Estate B School. The real estate team building world is driven by big egos who boast about how many homes they've sold or how much GCI they've earned. We don't hear much about their low profit margins, the long hours they put in each week, or the unbearable stress they endure. In fact, I've discovered that most real estate teams are losing money when you consider the amount of personal production their owners must do to make ends meet. I believe that if you want to profitably scale your real estate team without working crazy hours, enduring unhealthy levels of stress, or coming up short at home, then thinking like a business owner, building sustainable systems and empowering your team are absolute musts. You won't find any smoke and mirrors or hype here on my podcast, just the real world tools, systems and strategies that work. So if you struggle to balance growing your real estate business with focusing on the areas of life that truly matter, then this show is for you. Welcome back to Real Estate Team Builders.

This is Lars Hedenborg, founder, Real Estate B School, and I have the pleasure and the honor of chatting today with Veronica Figueroa, who is out of Orlando, Florida. And we are both at exp. And Veronica just got the title of what was like 2000 plus transactions, the number one team for transaction sides at exp. And the thing I'm most excited about this conversation is just kind of seeing you and your journey even in the last year. Man, I almost get emotional thinking about like every one of your posts. Veronica, I have read almost every word of every post and just how you've really been honest and vulnerable about your journey in business. So it's one thing to achieve at the level you've achieved, but then also to kind of realize like who you are and how you created and you know, what needs to change in terms of how I can really see serve this like big, big position that you've been put up, put in in your real estate team and also your EXP organization. So with all of that said, give us a quick intro and then we'll kind of get into the topic like it's this good, bad, ugly journey of like busy agent turned team leader not doing anything right and then realizing and making this decision to become a business owner. But give us a quick intro and then we'll get into that, that topic.

Absolutely. My name is Veronica Figueroa. First of all, thank you for having me and I'm a Fan of you, by the way. I'll tell you before I go into my brand B school, you know, I think Marie Forleo. I'm a huge fan of Marie Forleo. I don't know why. I just think, like, those two are connected. And then I have this, you know, her book. Everything's figureoutable. Just like when I saw your. Your school and then your, you know, you come over, I was like, I wonder if he's a B schooler, you know? Anyways, I just wanted to say that.

And I totally. I enrolled in B school and I named real estate B school because of my association with Marie Forleo. So it was not a ripoff. And I also went to business school. I went to Duke for my B school.

That's so cool.

Yeah, but, yeah, it's totally. That was the genesis of it. And I figured it out on a beach in Mexico. I came up with the name. So really, really cool.

All right.

Your story.

Oh, yeah, yeah.

Sorry.

I could go down a rabbit hole. But anyways, just inspired by you and what you're doing. But, you know, my story is I, you know, kind of give you the elevator version of it, you know. Grew up in the military. My parents, you know, worked really hard.

My family's from Puerto Rico. My father was a drill sergeant. So that's where the discipline comes in. There was no slacking off in my mom or my dad's household. My mother was an entrepreneur. She opened a Hispanic like, grocery store in cities like Junction City, Kansas, where.

There weren't a lot of Latinos.

Columbus, Georgia. Wherever my dad went, she found a way to open a business. And I was working since the age of 12, but I was in awe with everything that they did.

Graduated high school with a baby on my hip. The 16 and pregnant story wasn't one that was in the books, but I figured out early on in life that I had to figure things out. And I had a very, very supportive family. But they also always kind of held me accountable. Went to college and graduated at the same time of everyone else who graduated when I graduated. So I was always a worker. And any obstacle that I faced, I always tried to, you know, be honest with myself and at a young age and realize I had to, you know, now care for a young child that I brought into the world. Worked my way up in. In the hospitality industry. Had a passion for human resources.

I knew I wanted to go to school for human resources.

I knew I wanted to work in human resources. I love people, and I got that opportunity through the hospitality industry. And then at, I would say young age of 24, now faced a divorce. And I remembered I had a real estate license because a friend of mine.

Convinced me to get my real estate.

License right out of college.

But 911 happened the day after, so I never thought I would need it. And I went the safe route, right? You know, you get your license the day after, the day before or the day after 9 11, you get a little, you know, there's a little fear. And I was in the hospitality industry. Timeshare was a big thing in Orlando and. But it wasn't for me. I took a peek at it. So I just decided to go more on the HR side. Developed agents, helped benefit, helped work in hr, agent development, hiring benefits, worked my way up. And, you know, when I was going through a divorce, I realized I needed to supplement my income. And I remembered I had a real estate license and tried it again in timeshare. Wasn't for me. Three months later, I said, let me try this residential thing. And that was around 2000, end of 2004, 2005. So it was like it was raining commission checks. You'd walk outside and you stumble across a buyer or a seller. And it was a crazy market. And I quit my job within three months. I went in full time and I never looked back. I fell in love with it. And then of course, when the market crashed in 2008, well, started crashing, obviously, I started feeling it. I realized it wasn't as easy as it appeared to be when I first got into it. And I had to learn a lot really quickly. I needed to learn short sales. I remember we were faxing documents over to the banks. Had needed to learn reos with the hope that someone would give me an opportunity. And I wasn't going to take no for an answer because by this time I had become obsessed and addicted to real estate. I loved everything about it and how it also allowed me to still be a mom, yet kind of manage my schedule, but not. And then here I am almost 20 years later, really, really proud of what we've accomplished. But I think the word is obsessed. I became obsessed with this industry, obsessed with people, obsessed with how much it gave me, I would say the excitement of change and always evolving real estate put me on my. Kept me on my toes real quick. And if you know my personality type, I love change and I'm always up for a challenge. So it was just a calling. I think it was just a calling. And I discovered it early on and I'm glad that it's been, I will say, a lifelong career for me.

Awesome. So let's talk about. Most team builders are born out of like you figured out a way to get busy enough where you had to think about leverage and kind of like you just need help. So when was that pivot point for you? And we'll talk about what didn't go well in that. But what did it look like when you realized how many homes were you selling? What were your days like when you realized that you needed leverage through the form of people?

Yeah, I feel very fortunate, Lars. I realized early on that I needed leverage. My first full year in real estate, I sold 56 homes, which, you know, it was a lot when you had small kids and, you know, had just gotten remarried as well and, you know, trying to raise a family at the same time. So 56 homes was a lot in a hot market. We're writing offers on hoods, you know, you're trying to race. And at the time the builders were doing lotteries. You know, it's kind of like what we're living, living in now. Kind of like deja vu. And I hired my first assistant a year in, and I remember it was paper pad and, you know, she was my assistant, but she, if you talk to her today, which she's actually still in real estate, she's one of my best friends, Veronica Delic out of Texas. She'll say, I was your nanny, I was your assistant, I was your courier. You name it, she did it all. She's like, at the time, she was also the person who would have a glass of wine after a long day with me. I'm like, you're not going home until you have a glass of wine with me. So like, early on I realized I needed help because I was closing 56 homes and I said, now I want to sell 100. How do I get there? And I needed help. So that was my first assistant. My first hire was an assistant. Then from there, you know, I was recruiting everyone.

My sister in law to be an.

Agent, my husband to be an agent, everybody. I was like, you've got blood running through your veins.

I need you to get a license and you need to help me, whether it's opening a door or putting signs out or whatever the case might be. Because I got really, I would say really blessed and fortunate early on in my career. And I had a lot of people trust me because they saw what I was doing and they said, hey, I'd like to get into real estate. Looks easy, it looked easy. So I Started recruiting and I would say realizing the power of leverage really early on. But the true test of having to build a team came in 2009 when I, you know, took a leap of faith. Lars and I went to Dallas and I knocked on asset managers doors and I said, I need a shot. I need a shot. I need one of these asset managers to give me a shot. And one did. And that shot came with some.

Some.

Some very big challenges. I came home to 37 assets. I'll never forget. I've told this story over and over again, but it's the truth. And they were all over the state, and I was hungry enough that I wasn't going to tell him that I couldn't service those. So in less than a week, I set up shop in every single MLS that I needed to have an opportunity in. I mean, to set up that I had an opportunity in. I recruited people to be my field service managers. I recruited people to be the agent who was going to do the BPOs for me. And I was able to build a team overnight. And people were driving three, four hours as my lead team partners covering Tampa, Miami, all over Florida. That was a true test of having to become an operator or a team leader and build systems and see if I could really scale. It was by accident, pure necessity. But then the opportunity was there, and then I said, okay, I cannot mess this up. And the rest was history. Yeah.

So. And if you're like me and most people that go into team building, it is sort of out of necessity and like, grab this person and grab this person and, you know, you don't know what core values are. You think they're just like, whatever. I don't need core values. I need like a warm body.

But talk a little bit about.

So from that lord, sort of like forcing yourself into team building versus, like, you know, eventually reo probably going away. And now it's more like legitimate business owners talk about that. What. What lessons did you learn hiring anybody to like the business you run today? We talked about, you know, accountability and standards and kind of go into that whole conversation.

Yeah. So just for the record, FYI, don't build it the way I built it. Like you said, that was by pure necessity. Eventually it evolved into a real business that I was like, wait, why are things not working? Why am I having issues with employees? Why am I having issues with certain things? Why? Oh, we don't have a team agreement. Oh, we don't have this. Oh, we don't have that.

You know, you.

Everyone's honest and I wasn't running true business. And I'll never forget the first coaching opportunity that I think I sought out was Corcoran Consulting and a good friend of mine, Bubba Mills, at the time, who I had met in the REO world. I saw he was a leader in Corcoran Consulting. And I said, I need operations training, I need help. I know how to sell, I know how to market, but I don't know how to run a business. And I did go to college, but I went to college for human resources, you know, for people development, for loving on people, making people feel good. But there was a component of the.

Business that didn't feel good, and it was the standards and how you were going to hold people to those standards and truly have real big boy and big girl business decisions, you know, that you had to face.

And they were the first coach that I reached out to. And I had to make some difficult decisions along the way. And I had to establish core values. My core values didn't come come into.

My business probably till about.

Well, maybe I was living them. I knew I had them inside me.

But I didn't know how to articulate right.

So right around 2013, 14 was when I really said I have to establish some sort of.

Some sort of business foundation.

And even back then it was super.

Rocky because I was afraid that people would leave me. But when I started really looking at this as a business, I realized I lacked accountability, I lacked core values, I lacked standards, and it was a free for all. People did whatever they wanted on my team until I made a business decision.

That it was time to really, really.

Build a business with standards. Standards and, you know, having a company that I would say had integrity. And for a while I realized I didn't run a business with integrity. And I wanted to be able to drop all the files and know that everybody was treated with respect and dignity and. And I didn't have that. This person had a deal, this person had a deal, this person had a side deal. And, you know, I was creating chaos. And it was the decision that I made. One day I said, no more. We're going to run a real business that is, you know, something that I can stand behind. And let's pull out those core values. Let's pull out. I think it was the Traveler's Gift was the first book that I read that helped me discover what my core values were or, you know, took me on that journey. And it was. It was a book I read a couple times. I also read the Alchemist. That was another book That I read that really helped me just kind of discover who I was as I navigated through this journey and learned that things happen to you for a reason. And then I just really dove into being coachable. I remember Bob Corcoran sat me. He has a strong personality.

If you've ever met Bob.

He's one strong cookie, right? But I'm grateful for him. I remember he said to me, says, I don't think you're coachable. Well, I'm very competitive. So I was like, really? I was like, I'll show you. And, you know, at the time, I was really stalking. If anybody's listening, maybe you're a stalker. Like, I was. I was stalking Andrew Duncan with the Duncan duo and Angela at the time. We were both remaxed. And I was like, man, I really like what they're doing. They're running a real business. And I said, wherever they're coaching, I want to coach. So that's where I started with Corcoran Consulting. And it was just, look, let's look at your standards. How do you onboard your people? Nope, I don't have that. How do you train your people? Nope, I don't have that. How you onboard them is the experience they will have in your organization. So if you bring them all with chaos, they will leave and lead with chaos. So I had to do this audit of how do you onboard your people? How do you know what's. What's your core values? How do you hold them accountable? And I was like, I don't have any of that. And I had to do that deep dive exercise and really start. And then the budgeting and then the, you know, realizing, wow, we really have a lot of holes to plug here. But then once we started plugging those holes, Lars, everything started to change. The type of agent we started attracting, the type of quality performance, the standard of excellence. And the things that I used to think were just a dream started to become a reality simply because I made a decision as a leader to step up. And along the way with that, I lost a lot of people that I loved because they didn't like this new version of Veronica. This new version of Veronica, who never felt comfortable having uncomfortable conversations or having standards, shows up, knock, knock. And that created discomfort for a lot of people, and I had to deal with that too. The emotions as a team leader that you're like, what do you mean you're leaving me? Or why are you mad at me? Because I have to make a business decision, and I had to walk through a lot of doors by myself. A lot of dark alleys, I think, of growth. But on the other, I stayed true to it. I listened to my coaches and I watched and I learned. And now I probably run one of them. I would say the best organizations that I'm proud of because I have leaders that this runs without me. This operates even if I'm not in the room. The standards that they hold me to are pretty awesome. But it took a decade, it was a decade of having to make a lot of mistakes to get to where we're at today. And I don't know if that answers your question, but yeah, we've gone through.

A lot and it's so good and thinking, you know, having spent some time with Bob Corcoran, you know, and having even that coaching experience be a model for like just the way he would push. Like, most people don't want to be pushed. Most people want to glide through life. They don't want standards. They. I think real estate in general attracts people that are. Think it's easy and they don't want to actually, you know, we would have to like, question like our new agents that are like in their 20s, like, do you have an alarm clock? Like, do you have a way, like a system for getting out of bed in the morning? Like, I mean, it's really sort of, you know, the mediocrity that I think in general real estate attracts because they just see these big purchase prices and the big commission checks and they don't realize that it's super hard.

Yeah, it's kind of easy to accidentally trip over some success. But I knew I never wanted to be, you know, let's say like a one hit wonder or just have one good year. And I wanted to, to be more than just an average agent. And I just refused to do what was easy. So when Bob was pushing me and I knew, I like most top producers or high achievers, we crave for accountability. We crave for a challenge. And I know people might not think that, but we're always looking for that next challenge of saying, can I do this? And it's not to prove to anyone else. Usually it's to myself. Of saying, you never know what you're capable of until you try it. And Bob was a pretty. I don't think I've told him thank you enough. I don't ever. I need to call Bob and tell him thank you.

Yeah, that's really, really good. I talked to him from time to time just, just to keep up with him. And I recommend that book, Traveler's Gift as well. It's, it's really a great, a great read.

Talk to me a little bit about.

You know, I think core values. I know when I first did my core values, I literally copied Jake Hinders. I was coaching with him at the time and I'm like, well, those seem good, you know, but when you really sort of understand core values are an extension of you and the business you want to create, it's a living, breathing thing. Can you give us an example or two of like now that core values are sort of the DNA of the business? How does it show up in a coaching conversation with an agent or how do you hire to core values? Like practical examples?

Yeah, I mean for us it's, you know, personal responsibility is super important for us. And you know, accountability, you know, how do you deal with accountability? What's, what are forms of accountability in your world today outside of real estate? So in our interviewing process, we use spark hire when someone wants to join our team and we talk a little bit about, we ask certain questions that are aligned with our core values, you know, like tell us a little bit of, you know, how you hold yourself accountable or a way, an example of how you were held accountable in your previous career. Right.

Or in your previous team.

Because accountability is important to us. Video is part of our world and we hold our agents accountable. So we start off our interview, you know, the journey with us with a video. So if anyone doesn't want to comply with the video, then they are not aligned with our core values as a team because we do what we say we're going to do. I do video, I ask my agents to do video. I'm never going to ask them to do something I wouldn't do myself. So therefore we start that journey off.

And if someone tries to work the.

System, they're just not aligned with us. It's just, you know, personal responsibility, accountability. We're a team of contribution. So what does, what does that look like? Hey, we volunteer. We're going to do things as a community, even if we're not getting paid for it because we believe in giving back. Is that aligned with you? So you're going to be at the soccer field, probably life sweating and giving out soccer balls to the little kids and you know, high fiving. And it's not because you are going to get a deal out of it, because we come from a place of serving, right? And all these things are things that up front we make it very clear. Now one of the things that's very simple for us on our Team is we do what we say we're going to do.

And in our database, like we use.

These simple things like, you know, in our database how we do our calls, like we train them on alm, right?

Appointment, location, motivation. Right?

Every single call that we do when we have a role playing session, or what we call our Thursday, kind of like hot seat call, review, coaching call.

Where it's like, hey, we all committed.

To saying that we're going to use alm, right?

So we do what we say we're going to do and we show you how to do it. So we expect it.

So when we pick a call and it's a random call and it's anonymous, we don't know it's you, Lars, we're okay with that.

And you should be okay with that because we all said we were going to do the same thing. We all said we were committed to that.

Now what we all did say is.

We also are a team of contribution.

And community and a judgment free zone. So what happens, Lars, is you listen to that call.

Guess who gets to critique the call first? You, because you're a leader.

And then you get to also say.

Hey, maybe I should have done this. I learned this from the experience. So we're learning based, right? I learned this and I could have tweaked this.

And then your peers get to say, you know what, Lars, you did a great job. This is what I would have tweaked a little bit.

Going back to personal responsibility. Responsibility. We do what we say we're going to do. If we say that, we're going to hold you accountable. If we say that we're going to train you. We also expect you to do what.

You say you're going to do when no one's watching.

And if someone does end up hearing your call, it should be aligned with what we're teaching. And it's really interesting how those coaching sessions work because it's coaching session amongst the agents, not Veronica coaching them, telling them what to do. So we have a lot of fun, too.

Fun is one of our core values, too.

If it's not fun, we don't want to do it. If we're not having fun doing this, it gets difficult sometimes. That's where commitment comes in. You're going to do hard things even when it doesn't feel good. But in the end, we are a community of love, fun, you know, trying, not trying, focused on helping people become better, better people. But it all comes down to, you know, do you love what you do? Are you having Fun. Are you delivering excellence? And, you know, it's what I think why the Figueroa team has been able to reach a level of success that we've had, because once we got got really crystal clear as to who we are, it got really easy to convey it and live it. And when someone doesn't meet the standards, it's not a difficult conversation for us anymore because we talk so much about it every single day. We live our core values every single day.

Awesome. And the last question, then I'm going to ask you sort of a final question, but on accountability that I've found over the years in real estate B school and coaching team leaders, that's sort of the hardest part. Like, we have. We all have a need to want to be liked, and accountability seems like this thing that we're doing to people versus something we're doing with or for someone. Talk a little bit about your mindset shift on accountability. For sure, it created some, like, obvious, necessary endings with agents on your team because that's not what they signed up for and they don't want to live a life of accountability and the discipline. But talk about accountability for someone, a team builder that's struggling with that part of the business.

Yes. And, you know, I coach a lot.

Of people and they'll ask me that.

Same thing, like, it's hard. I'm like, it's only hard if you make it hard. You know, accountability is. And John Chapleck is my coach and he's always taught me this. Accountability is the highest form of life love. If you truly, truly look at it measuring someone, when you have permission to measure them, you are coming from a place of love, a place of, like you said, this accountability is for them, not happening to them, but it's for them. Lars, it's not a secret. I stopped drinking a year ago and I asked for accountability from my peers. And if just because it didn't feel good for them to tell me, hey, call me out, if I'm giving them permission to measure me, that's love. Because they love me enough. If I know an agent needs to take care of their family, and I know their habits are not aligned with the outcome that they want, and they gave me permission to hold them accountable, gave me permission to measure them, asked me to share my years of experience and share my book of business and share this wonderful opportunity that we have in real estate with them so that they can provide a better life for their families, so they could put food on their table. And when I measure them, I remind them that it's about helping them accomplish that goal. And it's coming from a place of love and purpose and that, you know, we're going to get this. We're going to get there together. Accountability does not mean we're perfect. Accountability doesn't mean we don't fall off or deter or sometimes slip up. It gives us permission to measure and it gives us permission to recommit when things don't go maybe perhaps the way we want.

It doesn't give us a pass or.

An excuse because if the habit continues and you're like, okay, well, now you're just. Now you're just uncommitted.

You know, there's a difference between accountability.

I slipped. You know, maybe I fell back this.

Week and I didn't go to the.

Gym or I didn't. Or, you know, I had a drink, I gave in or didn't call my.

Database because, you know, my.

My wife and I just had a hard time with. With someone in the family passing. Hey, it happens. How can I support you? Like, what could I do better? What could I do to support you.

During this time that you're going through this?

Or what got in the way? Oh, what got in the way?

Veronica, I'm struggling with this. Or Chase, I'm struggling with this.

You know, like, okay, well, let's listen. Should I have the ISAs help you out with this?

Or, you know, is it, you know.

You'Re struggling having a sitter, but if I see you're doing everything in your.

Power and you just had one honest slip up and you're asking for help, man, that's accountability from a place of love, from the soul, where you're just like, man, this is this person. I care about them.

Now, nobody is inspired by your follow.

Up to do list and tell me, like, you gotta call every one second or less.

That's not inspiring. But if they know, hey, man, if you don't call on the other side.

Of that, that $8,000 on the other.

Side of that is gonna keep you from being able to send your daughter to college that you said that you wanted to pay off because you. Let's say she doesn't have a grant or you can't qualify for.

I don't know what, what the reason is, but you know what I'm saying.

We get so bought into their reason why they have to succeed that it.

Makes it very easy to hold them accountable.

The challenge for a lot of leaders is you guys.

I'm talking about people in general. They box them in, they're like, oh.

Yeah, I want to lead.

I want an agent who works my lead. And you know, this split. But if you don't get intimate with.

Your people people, it's really hard to.

Hold them accountable because nobody wants to be bossed around with by someone who doesn't know them well enough. So that's where the intimacy comes in. The intimacy tied into the accountability makes it easy for you to love on your people. Hey, that's what we do on this team. And it works. It's a little bit of love art data, you know, accountability, all of the above. And it just kind of creates this really special place. But anybody who's struggling with accountability, oftentimes I think they struggle with accountability is because they're not being held accountable themselves.

All right, so last question. And this is in light of maybe some of your personal growth, your personal growth journey in the last year or two, but then all the good, bad and ugly of your business growth journey. What advice would you give someone who is sort of on the early side of kind of going down this path of team building?

It's not easy.

It really isn't. But it's worth it if you truly are committed to making an impact in people's worlds. For me, I definitely fall in love with people. I fall in love with people. But I'm really glad that when I started started running a business, I didn't let people jade me when, let's say, things got hard. So as long as you stay true to the fact that you're going to pour into people and know that there will be a journey where they're ready to grow, you don't take it personal. And you look at, you played a. It's like a house you sold. You're like, oh, I sold that house. You know, like, I'm excited about that house. That's how I feel with agents. I'm like, oh, they started with us. I'm so proud of them. They kind of came to the Figueroa team alumni school, you know, and like, it's just exciting, right? And then I get to still like the ones that I get to be in business with still or still be friends with and talk about that. Like, I get excited about their career, you know, they're not just a number. These are people who are trusting you. And if you pour into them and you give value and you can grow their world, they're going to stay with you as long as you continue to expand their world. And it just makes sense for both of you. It's not easy but it's totally worth it. Absolutely. Have your standards in place and run it like a business from the beginning if you can. Don't be afraid to make mistakes and don't box people in everyone's different. And be okay with willing to meet people where they're at. And for me, I love new agents. I love new agents or agents who've.

Been in the business less than two.

Years or maybe even someone that had a little pain point because. Because it allows me to just see where they're at in life and watch them evolve. And it's not normally the next deal. It's the conversations with the Christina Daltons.

Who today I had a conversation. She's been with me for six years.

And she says, I feel light, I feel good, I'm debt free.

I took my daughter on her spring vacation. She's a single mother and she's going to be flying out to Puerto Rico to spend a week with me just to mastermind about what the future looks like for her after being on the.

Team for six years. Like, do. Are you willing to pour into these people and let them grow as big.

As they truly have the potential, or.

Do you want to put a lid on them?

And I will tell you, there was.

Two versions of Veronica, the one who wanted to put a lid on people.

And then the one who wanted one. Enjoy seeing them grow as big as they can, not just in real estate, but in life.

And I'll bet on the latter of the two all day long.

And I'll do it over and over again because that's the most fulfilling thing as a team leader that I've ever experienced.

Awesome. I appreciate you. And just you being such a man, such a bright light in an industry that is full of big egos and, you know, people that aren't willing to kind of share the real side of doing this, you are really a bright light. So I appreciate you and if there is ever anything I can do for you, just let me know. And I know this gave a ton of value for all of our listeners, so thanks again, Veronica. I appreciate you.

You appreciate you.

Thanks for having me.

All right, see you.

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