Meet Casey McLoed, Side’s Managing Broker of California & Colorado
Casey McLoed got licensed in 2008 — not the easiest year to break into real estate. But Casey, who had always loved the industry, was not to be deterred by a down market.
Within two years, he was one of the top-performing agents at his brokerage. Within four, he had his broker’s license. Within six, he was on the Board of Directors at the California Association of REALTORS® (C.A.R.).
And in just under his first decade in the industry, Casey became one of the first managing brokers at Side. We caught up with Casey, who now serves as managing broker for both California and Colorado, to learn more about how he got to where he is today.
Can you walk us through how you first got into real estate?
Before getting into real estate, I was selling appliances at Home Depot. I was always dealing with customers who were flipping houses, and I found myself constantly looking at real estate magazines — I loved the industry.
I got laid off when the markets started to tank in 2008, so I decided: I’m going to actually try this! I got a job as an assistant at a local firm, where I became the listing coordinator for one of their top agents. Then I got my license, and I’ve never looked back.
That’s fairly unusual, to get started in real estate at a time when so many agents were dropping out of the business.
Yeah, not too many people were getting into real estate in 2008. For years after I joined C.A.R., membership numbers were in decline. But the thing is, if you know how to conduct business during a down market, you’re going to thrive when the market is good.
Plus, I was working for a top agent who was still handling 200 transactions a year, and that didn’t include REOs. I remember thinking, What downturn? Our phones are ringing off the hook!
Did working with a top agent make it easier for you to shift into production yourself?
Definitely — I learned so much. Although I wouldn’t say I got off to a fast start. My first year in production, I did two deals. Luckily it started to click, and in 2009 I closed 17 transactions. And I went on to be a top producer at my firm the following year.
What made you decide to transition from production to management?
I realized that even though I had the experience, I looked so young that many people didn’t believe I knew what I was doing. So I decided I was going to start showing people I knew the contracts inside and out.
It helps that I love contracts. I’m a total contract junkie.
I’d go on listing appointments, and I would hand the contract over to the seller and say: Ask me about anything in this contract. They’d thumb through, find a random paragraph, and ask me a question — and I’d always be able to answer it. I’d tell them to hold onto that contract and ask the next agent they interviewed that same question. Since I started doing that, I haven’t lost a single listing appointment.
So I reached this point where I had mastered all the contracts and I had become the go-to person in the office when other agents had contract questions. At a certain point, I was asked if I wanted to become a manager, and the rest is history.
What brought you to Side?
I knew one of Side’s founding partners in the Placerville area, Kelli Griggs. She was explaining to me how she did business as Navigate Realty, but her firm’s backend was provided by Side (although back then, it was called the Reside Brokerage Network).
I remember thinking: Okay, well that’s different.
When I learned more about the company, joining was a no-brainer. Side was providing all these services I’d always wished I could offer my agents. Ultimately, Side is about supporting the agents, not the brokerage. At so many places, it’s the other way around, and I had always found that so frustrating. The brokerage isn’t generating the business — the agents are. The agents should be at the forefront of their business.
What are some of the biggest challenges you see impacting agents today?
Inventory remains the biggest challenge. With prices so high, you’d think more people would be selling, but they can’t find a place to buy.
California’s prices are becoming increasingly unreasonable, and many parts of Colorado are following suit — particularly the major metropolitan areas like Denver, Fort Collins, and Colorado Springs. It’s getting to the point where even the more rural communities are becoming unaffordable, since people moving out from the cities have been driving up the prices.
That’s a big part of my job these days: finding ways to help buyers in this incredibly competitive market. We spend a lot of time educating our partners so they can help their buyers create compelling offers without putting them at risk.