Every day, area codes from around the world light up Anita Jacobus’ cell phone, delivering a one-woman orchestra of chirps, dings, rings, and beeps. On the end of the line are buyers, sellers, and investors in search of their next property in what may just be the hottest real estate market in a decade—on the heels of a worldwide pandemic, no less.
Indeed, the housing market is the spectacular success story of COVID-19. Buoyed by low interest rates, work-from-home mandates, the desire for safety, limited inventory and increasing home values, the housing market is on a tear.
The National Association of Realtors (NAR) released a report in late September finding that existing home sales had hit a 14-year high in August. Separately, Bloomberg reported that if homes continued to sell at that rate, the US would run out of new homes inventory in just over three months—the shortest such time frame in records dating all the way back to 1963.
In September, that inventory hit a new record low of just 2.7 months supply, and in October, it sank to just 2.5 months.
All this makes Anita Jacobus an insanely busy woman. “Low inventory means stiff competition, multiple offer scenarios, escalation clauses, contingencies, and more. Today’s buyers and sellers need a trusted, experienced team that can guide them through the insanity of this kind of competitive market.
The highly-lauded, high-producing owner of Queen Bee Realty Team in Toms River, NJ is clearly high-demand. She’s a Five Star Real Estate Agent—a prestigious award that less than one percent of agents nationwide earn—and to wit she’s been nominated every year since 2014.
Her drive, determination, and untenable 18-hour work day have delivered unparalleled success year over year. Her phone rings incessantly because she’s just that good.
And still, this Wonder Woman nearly met her match thanks to an unlikely kryptonite of coronavirus and finance.
When did you first get started in Real Estate?
In 1999, I was a young mom looking for a career that had flexible hours and a high earning potential. Turns out, I was only half right. Flexible hours is probably one of the biggest misconceptions about the industry, but I didn’t know that then. Anyway, that first year was incredibly challenging. It took me six months to sell my first home, and nearly the same amount of time for the second. Last year, on the other hand, our team closed 110 properties for more than $40 million in sales. Sixteen hundred homes in the last 20 years. We sure have come a long way!
What’s the biggest misconception about your industry?
Most people don’t realize how complex the real estate process is; there are so many steps and factors involved in any single transaction. It’s so much more than just putting a house in MLS or for sale by owner.
What’s been the biggest challenge in growing your business?
Without a doubt, adapting to COVID-19. The housing collapse in 2008 was certainly rough, but nothing like the pandemic. Our entire business was turned upside down in March when New Jersey, and the country, shut down. Overnight, we needed to learn a whole new way of showing, staging, selling, and marketing properties. Thankfully, our team is very tech driven, and we were able to switch gears and adapt within weeks.
Hive-Minded
For Ken Jacobus, Anita’s husband and business partner, the impact was much more personal. In March 2020 Anita became one of New Jersey’s first official diagnosed cases of coronavirus, nearly taking her life in the process. “There were days I honestly thought she wasn’t going to make it,” he shares.
Though her recovery was slower than desired, the experience ignited a newfound passion for health and wellness in the couple. Ken, an avid Tough Mudder competitor, bikes, runs, or lifts weights daily while Anita has layered in daily meditation, hydration, and step goals into her long days. They both remain incredibly grateful to the caregivers for making Anita’s recovery possible and credit their tight-knit, 12-member team at Queen Bee for keeping the business moving during such a tumultuous time.
“Our team… They’re just fantastic. It’s so rewarding to work with them every day,” she says.
In an industry rife with egomaniacs, fashioning a cohesive, service-driven team has been a dream of Anita’s since 2015.
Why a team? What inspired that shift?
Like most people getting into the real estate, I worked as an individual agent for the first half of my career. But after 16 or so years, I really wanted something that was bigger than myself. I wanted to create a legacy. Keller Williams offered me a great opportunity to build a team, so in 2016 I made the switch and haven’t looked back. It’s so much more rewarding when you are surrounded by passionate people who want to work hard and do great things. Seeing everyone growing and becoming the best version of themselves has been so much fun. Yes, I’m very driven and I very work hard, but my team and my clients are really the secret to my success. It gives me so much joy.”
DOLLARS AND SENSE
Perspective is usually gained in hindsight, from distance and time to process and make meaning from what transpired. Over 92% of small businesses reported having to “reinvent themselves” to survive the Covid-19 crisis, and that’s certainly true for Anita and Ken.
The mandatory closures in New Jersey and New York forced them to reinvent the way their clients would buy and sell real estate. Virtual showings, virtual staging, virtual meetings, and virtual signings are all part of a new normal.
“We reinvented most of how we operated, using technology to become more nimble while working remotely. In a way, it made us more efficient in our processes, and it forced us to take a deeper look at other areas of our business.”
Turns out, the real eye-opener wasn’t virtual reality. It was the company’s finances.
“Without a doubt, if it wasn’t for Rachel and the Go Figure team, we wouldn’t have survived,” says Anita.
A match made in heaven—and on Google. A little over two years ago, frustrated with QuickBooks, Anita searched ‘Top QuickBooks Accountants’ in New Jersey and Go Figure popped up.
“At first, they just wanted help navigating QuickBooks,” remembers Rachel Siegel, owner of Go Figure. “We put together some training, but their business is so unpredictable. From one week to the next, the schedule is never the same and they weren’t making any headway. I knew we could be doing so much more to help them grow, so I suggested we take over the bookkeeping all together. I pretty sure I can still hear their sigh of relief.”
The partnership has been fruitful, to say the least. Rachel and the Go Figure team have managed to not only reconcile and streamline their bookkeeping, but also change their company structure, connect them with a financial planner, develop new revenue streams and business opportunities, and invest significantly in their retirement portfolio.
What was your biggest financial challenge Go Figure helped you navigate?
At first, we thought we just needed help with QuickBooks. But almost immediately, Rachel suggested we switch from an LLC to an S Corp, and wow! What a difference! That alone saved us so much money in our first year working together. And, of course, we could not have survived 2020 without her help with PPP and other loans.
“COVID-19 really rocked their world,” says Rachel. “Not only was the business was totally shut down for three months, but Anita was so incredibly sick… they didn’t even have to ask. We just jumped right in. Because we already had QBO in place and their financial records were up to date, we were able to get with their banker, share reports in real time, and help get them the PPP loan they needed.”
“They did things our old accountant would never have done,” adds Ken. “She really came through for us in a big way. Now, when Rachel suggests we do something, we don’t even think twice. Go Figure is just an integral part of our team. We trust them completely.”
Now that COVID-19 is beginning to enter the rearview, how is Go Figure working with you to set you up for success in 2021 and beyond?
We talk regularly. Rachel guides us on the tax codes we should be paying attention to, and helps us make any necessary pivots. But I would say that this year, we are focused on updating our SoP manual, and maximizing our earning potential on some private investments. Thanks to Rachel’s insight and attention to detail, we have been able to become involved in some new rental property opportunities which is a new area of growth we hope to pursue.
“I’m always proud of the work we do at Go Figure, but this is definitely a success story,” Rachel says. “We were able to achieve some fantastic milestones in tax planning by restructuring their business. And while those percentages are impressive to me, what’s really important is that their business is secure in a way it’s never been before. That stability is what is allowing them to invest in retirement and grow new areas of their business.”
“But I’m a realist,” Rachel continues. “Real estate is a feast or famine business, and right now, it’s feast. Which is great. But that can change tomorrow, and I want them to be well-positioned to navigate those down turns. COVID-19 was a wakeup call for all businesses, including Anita and Ken’s.
Rachel would like to see Queen Bee transition to Profit First by 2022. “That program will allow them to plan for downturn in a way traditional saving plans don’t,” she says. “It’s perfect for realtors and real estate professionals.
How did your budget or financial strategies change for 2021?
We have become addicted to saving. When things shut down, we looked where every penny was being spent, and honestly, it was a shock. When you really dig in and get into the meat and potatoes of your expenses, you are going to find surprises. We called every single vendor over the last year—more than 40 companies—asking for ways to reduce our bill. And it worked. We were able to trim thousands of dollars in expenses month over month. But here’s the thing: Just because the market is excellent right now and cash flow is good, we’re still continuing this process. Our admins work on this monthly, scrutinizing each bill and expense, looking for ways to save.
Long Live the Queen
In a way, finances are just like real estate… You have to put in the time. Even Anita, who’s established herself as one of the most successful agents in the country, still keeps a schedule that often ends long past midnight.
“It’s a tough job,” she admits. “There are a lot of nuances that make it extremely complicated. And you don’t really write your own schedule. The client does. At least, if you want to be successful. But it’s a career unlike any other. You would think that after two decades we would be looking forward to retirement, but that’s not the case. My husband and I still want to be selling houses when we’re 80. It’s fun. It’s rewarding. It’s lucrative. And I wouldn’t trade it for the world. “
