There are more than 20,000 real estate agents in Minnesota – some are doing better than others … Justin Shepherd is doing better than most.
Shepherd, a third year real estate agent with Edina Realty, has ascended the ladder of seller success to become one of the top agents in the company, selling more than 20 homes in his first year, and is now on pace to sell more than 30 homes in 2016 – just as he did last year. Averaging a sell every 10 days or so, Shepherd is living up to his moniker, “Shep Sells.”
For Shepherd, real estate isn’t a job, it’s a life’s passion.
“I have always wanted to get into real estate,” said Shepherd, who said it was his grandfather who helped make sure his entry into to profession was a successful one. “Once I got to high school my grandmother and grandfather cared for me and I told my grandfather I didn’t want to go to college, I wanted to get my real estate license and start selling. He said, ‘OK, write me a two-page report about real estate to see if you know what you’re doing.’ I wrote the report and gave it to him and he said ‘You’re on the right track.’ Then he said, ‘Alright now within the next two weeks find two people who are able – right now – to buy a house from you.’ And of course I couldn’t. He told me real estate is about relationships and networking. He told me to go to school and build my network.”
That’s what Shepherd did, attending the University of Minnesota and then going on to work for General Mills – building his network along the way. Shepherd also built a following as a DJ and event producer with the promotions company, The Cool & Co.
With his network in tack, Shepherd’s real estate business instantly took off.
“When I jumped in real estate I had to quit General Mills three weeks after because I was so busy,” said Shepherd, who is a 2016 Edina Realty President’s Circle awardee. “I started living real estate. I’m up ‘til midnight checking listings trying to match buyers and sellers.”
Shepherd has thrived by having a diverse customer base, but he said he would love to get more African-Americans into homeownership. According to a report by the Minnesota Homeownership Center, in Minnesota just above 25 percent of African-Americans are homeowners. Comparatively, 77 percent of whites own their homes. Shepherd said the disparity has a lot to do with credit misnomers.
“A lot of people don’t fully understand how credit works and what lenders are looking for,” said Shepherd, a recent homebuyer himself, and who admitted he didn’t have the best credit when he started the buying process. “With my clients I focus on their current situation and moving above and beyond.”
According to Shepherd many people don’t think they have good enough credit to buy a home and they stop before they even start. He said lenders are understanding of certain debt, such as student loan debt and medical debt. He said some simple maneuvers can have a buyer creditworthy in a short period of time.
“In my situation, I had a department store card with a balance. I was going to pay off the whole balance and I was advised by a credit specialist to pay a certain amount. I did it and my score jumped 14 points,” said Shepherd. “I advise anyone to speak with a credit adviser first. Sometimes paying a credit card off is less favorable than paying into the balance.”
The fast-rising real estate agent said there are several buyer assistance programs based on neighborhoods, income, first time buyers and more.
“There’s a lot of information out there and a lot of opportunity out there and we don’t take full advantage of what’s available,” said Shepherd. “I just want to give the people the real on real estate.”
