Cheri Benjamin With Village Premier Collection

Intro: Broadcasting live from the Business RadioX studios in Atlanta, Georgia. It’s time for Atlanta Business Radio. Brought to you by On pay. Atlanta’s new standard in payroll. Now, here’s your host.

Lee Kantor: Lee Kantor here, another episode of Atlanta Business Radio, and this is going to be a good one. But before we get started, it’s important to recognize our sponsor, Onpay. Without them, we couldn’t be sharing these important stories. Today on the Atlanta Business Radio, we have Cheri Benjamin with Village Premier Collection. Welcome.

Cheri Benjamin: Hi. Thank you, thank you.

Lee Kantor: I am so excited to get caught up with you. For folks who aren’t familiar, can you share a little bit about Village Premier Collection? How you serving folks?

Cheri Benjamin: Yeah, so Village Premier collection, we go base to base just short of VPC. So we break that on down. Make it a little bit easier for people. But we serve real estate needs. Whether you are buying, selling, investing in residential or commercial or doing development. So we service a lot of different angles in the real estate space.

Lee Kantor: So what is the climate in today’s real estate world? Is it a good time to be in the real estate business?

Cheri Benjamin: I mean, you’re asking a person who loves the real estate business that question. Absolutely. This market that we are in right now is really starting to make a huge shift into those that space that is very viable for buyers, sellers, investors, all of that is what we’re really seeing. A lot of people back in the fourth quarter of last year were interest rates spiked pretty high. It slowed down a lot of our demand that we had based upon our supply. And now we’re starting to shift a little bit more back into that very high supply. And we’re getting those folks to come on out now in order to meet that this the supply and the demand need that we have here. So the market is doing fairly well and it’s really starting to climb now.

Lee Kantor: Is that the metro Atlanta market in general or is it across the country?

Cheri Benjamin: This is actually what we’re seeing in more than just the Atlanta metro area. We actually service the entire United States. Now, there are some markets that are still having a little bit of a time getting rebounded from there. But generally most markets is starting to we’re seeing a large increase in the amount of homes that are going on the market, the increases in prices that are happening. Um, the on the commercial space, we’re seeing a lot more of the commercial properties that are that’s going to be the difference there. Those properties are a little bit harder to get rented out. So anyone who is doing any leasing of commercial spaces, there has been a little bit more of the less there in the opposite of the supply and demand for those that are out looking for commercial spaces. But on the residential side, everywhere in the US is really starting to catch up to what you’re seeing in Atlanta is really starting to happen across a lot of markets now.

Lee Kantor: Is it that folks have just kind of accepted that, look, interest rates are going to be a little higher now for a while. And just like I mean, I remember when I bought my house decades ago, interest rates were higher than this and we just adapted to it. And then, you know, when they got lower by a certain percentage, we refinance and we refinance our way down to when it was low. I mean, it just isn’t it kind of cyclical.

Cheri Benjamin: I don’t think that people are getting used to it. I do believe that what is happening is that their interest rates have softened a lot from where they were. I mean, they got almost up to 8%, and in some areas they were at 8%. And, you know, really not to talk about either one of our ages. But yes, I do remember my first house and where I closed it was higher than that interest rate, the interest rate that was offered, um, no matter what your credit score was, was a lot higher than what we have seen. But people don’t. People weren’t looking at buying back then. You know, when I talked to a person who’s ready right now and I tell them, you know, when I back when I bought my first house, I was at 8.375. They really think, well, that’s great for you, but I’m thinking of what’s happening right now and the affordability right now for my property. And with the interest rates softening from that 8% and trickling back down, especially in the markets where builders and people are doing buy downs of interest rates. So we’re getting very creative when it comes down to the financing side of it. In order to make the homes more affordable, uh, for those that need loans.

Lee Kantor: Now, are you seeing kind of the aggressive financing that was around maybe back in the day a little bit where there were, you know, balloon payments or adjustable for the first few years and then, you know, larger payments after that. Is that happening?

Cheri Benjamin: Well, those loans are still available, but those loans are not what we generally see from most. And the reason why is Dodd-Frank came in, and it really did help with making it so that back in those days where someone would do a two year, 228 is what it was called fix for two years, adjust for the next 28 years. That adjustment, you know, went so high that that’s what sent us into the recession is that we had an influx of people that they they could not afford their mortgages anymore. Those types of things we don’t generally see. Can you get an arm? Yes you can. You can still go and get A51, A31, 271, a ten one. You can still get those. And those will give you a much lower interest rate, um, to start off with. So those are still available but those are not the deals. Whereas in 2005 the ARM deals were dominating the market. Now in 2024, the ARM deals are a very small piece of the market. And I believe that’s because we’ve learned our lesson. And that is the one thing I’m very proud of when it comes down to the to the real estate industry as a whole, whether it’s on the mortgage side, whether it’s on the, uh, buyer and seller side, and including what has happened with the regulations that have come down. I do believe that that has helped our industry as a whole that will keep us from going back into that recession again. So we’re not seeing a lot of those that we used to see before. People are not I think we have a much more educated buyer nowadays, uh, versus what we had back in, you know, rewind the clock back 20 years ago. We had a we have a much more educated buyer nowadays.

Lee Kantor: Now, what’s it like to be in the real estate business if you’re a realtor? Is this a good time to be a realtor?

Cheri Benjamin: I think so. I have enjoyed my real estate license for the last 24 years. I’ve seen a lot of ebb and flows of real estate that has happened. I’ve seen people come into the market and get out of the get out of the Or come into the industry and then get out of the industry. I’ve seen all those different things happen. For a person who is looking at starting to get into this business, treat it like a business. I want for people to understand that when you get into the real estate space, you are getting into entrepreneurship. If you’ve never been an entrepreneur, so you are getting into entrepreneurship and you do need to treat it as such. You need to treat this business no different than what you would treat your carpet cleaning business, or your brick and mortar that you would have that you would go into on your 9 to 5. You really need to structure your business, create the leverage around your business and understand what you’re getting yourself into. There is a lot of mentorship. There’s a lot more coaching. Youtube can be your friend in some aspects of these things too. Whereas we didn’t have these sort of accesses to this type of education 20 years ago. Nowadays we do. And so a person who’s looking at getting into the real estate space, I always tell them mentor and coaches are number one for you because they will you don’t know what you don’t know, and there’s going to be pitfalls that you want to get around. And so let’s get them in place that can help you with your pitfalls. And then also make sure that your business is structured properly in order for it to grow.

Lee Kantor: And then it’s like you mentioned, this isn’t like a job where you show up and you’re going to get a starting salary and you’re going to get bonus based on what how the company does this is kind of an eat what you kill. Uh, you’re learning, you’re making investments, and then you’re seeing the fruits of your labor if you do well over time.

Cheri Benjamin: Correct. And you’re also. Need to understand those that you’re helping and how that works. You know, your buyers, your sellers, your investors that you are helping that is out there. And as you grow and you grow your knowledge and all those different areas, there’s more people that you can that you can assist and that you can help, um, that’s there. So it’s not just understanding the business itself. You have to understand the business. You have to understand client acquisition. You have to understand relating relating to your clients and understanding your clients and getting to the root of what your clients are really looking for as their ultimate outcome. And can you provide that? And if you say that you can provide that, you better deliver, you better deliver, because this is a business that everyone that gets into it, the only thing you have is your name. When you first get into this, you have your name. And that’s the one thing that I can’t get rid of. I’m not getting rid of that sucker. I’m Sharif Benjamin every day when I wake up. So that’s the one thing you have. And if, Lee, if you were my client at the time, then I want you to continue to use me. And so therefore, I have to get to the root of what it is that you are looking to accomplish. Make sure that I can check all those boxes. And if I can’t check those boxes, then who can? Who is the right person in order to do that? Or who is the right person for me to bring in in order to assist us in getting that done, lowering down the egos, understanding what you don’t know, putting your client at the center of your focus and your client’s outcome and your client’s experience is what is number one. And making sure that your business can handle the ebb and flows of real estate. And that takes time and it takes patience, but everyone gets there.

Lee Kantor: Or they don’t.

Cheri Benjamin: Were they done? Did they run? Can get there.

Lee Kantor: So now when you started at VPC, I believe you were the first agent that they hired or was hired.

Cheri Benjamin: Yes. Oh, wow. You’ve been to the vault? Yes. So they used to be village royalty, and I was their very first agent, uh, that they hired back in. Technically, it was 2013 because I moved on December 30th 1st to 2013. So January the 1st. I started off with just them. Uh, so. Yes. So that’s where I started off with them in 2019. They approached me about purchasing the company. I purchased the company in October 2019. Uh, the acquisition reduced our agent count. We went from 112 agents down to 67. And now, since then, just the evolution of what village has done and what village has grown into. We recently just brought on and did a partnership with Rio. So we’ve taken those 486 and offered them the partnership with real that we have. Also what happened with that is that it then exploded us across the United States, um, by doing so. So we have grown immensely and, um, very grateful for all of the growth that we’ve had, um, over the course of the years. I don’t think that I’ve even envisioned all of it that has taken place. So this has all been a blessing, um, to us by just putting people first. So I just believe in putting humans first. And this is what has come from doing so.

Lee Kantor: So now, what’s it like leading an organization that’s nationwide now? Like what systems in place? What are some of the things you’ve done to enable you to be successful? You know, in taking something that was maybe local, regional and now kind of scale it?

Cheri Benjamin: Yeah. So we had already scaled it. So we were in prior to um, joining, we were in moving the organization. We were already in eight states, so we were already going through. So it’s almost as if we had we got the groundwork done. So we didn’t have to make a lot of system shifts from how we already showed up. There was not a lot of shifts that we’ve had to make. What we have done, though, is we’ve deepened a lot of our connections so that we can go wide and go deep at the same time. Um, but I’m very strategical when it comes down to how our growth is. We’re not for everyone, and everyone is not for us. And I am 1,000% okay with that. I believe in attracting our like mindedness for growing out our tribe. Um, and so with that, we didn’t we didn’t haven’t had to use brand new systems and anything of that nature. We were already in eight other states. Um, so we’ve just added on.

Lee Kantor: So who is a good tribe member for you? What do they look like? What are they? What are they? What work are they doing right now that you’re like, hey, I’d like to get on their calendar.

Cheri Benjamin: A good tribe member for me doesn’t have to do always with how many transactions they are doing. It has to do with the human. So I’m much more with getting to who is the human behind this. So do the value system align? Do we have a shared vision? It can. What you are looking to grow to in your business? Can that be done here or can it not? And having true authentic conversations in reference to that. And that’s where a lot of people so we don’t do any sort of a recruiting. We do more attraction, meaning that we are looking for those that are more similar to us, those that believe in reaching behind you and pulling the next person up, those that believe in taking care of that person that’s next to you. Um, those who don’t believe in glass ceilings, that it’s a glass ceiling for a reason. It’s meant to be broken through. Let’s keep growing those with same similar style drives, those that are willing and that want to deposit more into those that come from them, and even those that don’t, you know. So we have a saying that’s called m’butu, which means I am because you are. So can I look at you and deposit into you and know that I’m going to receive everything that I should receive just from depositing into you? It makes me who I am to deposit and to invest in you. That’s really at the core of us, you know. So the real concept of work hard and be kind. And when we link these two things together, it’s just a full alignment for our agents. So that’s who we attract and that’s what we’re looking for. Those that are more like minded, that operate in authenticity, that believe in, if I’m going to put something out, it needs to be ecological. It needs to be good for all, not just good for self. And that’s the community of the tribe that we have been growing and that we are continuously growing.

Lee Kantor: So what do you need more of? How can we help? You mentioned residential. You mentioned commercial. Um, what do you need more of?

Cheri Benjamin: All of the above. It is really all of the above. This business was built in order to. Fill the spaces for those that come into it, and to be able to invest in those that come into it. So if it’s in the commercial lane, we have that. If it’s in the residential lane, we have that. If it’s in the more of content creation side, we have that. If it has to do with I want to grow from an attraction piece of my YouTube channel, we’ve got that in the coaches for that. So villages really meant for a place where the our real estate entrepreneurs can come to thrive in their lanes, that they choose to do it in and to build a community around that. So any and any of those that fit that, but the center of them is that I want kind individuals.

Lee Kantor: So now what is.

Cheri Benjamin: That’s what’s really at the center is the kind individual. Right.

Lee Kantor: And the value alignment and what so if there’s a real estate entrepreneur out there right now that maybe is frustrated, maybe is plateaued, is that like what kind of pain are they having right now where they should, you know, go, hey, maybe I should check out village.

Cheri Benjamin: A lot of people are just not being supported. That’s what’s what I see a lot of right now. We have a lot of people that are not being supported and people don’t see them. So at village, it’s really big for us to see you and what your light is and not put you into the same exact boxes with the next person’s light is. And I’ve been at several companies, several big box ones and not so big box ones, and I’ve seen this where they like to paint one one brushstroke and put everybody underneath that. That’s not how we are. That’s a lot more of what is authentic to you. And then helping that grow and turning up that dial of whatever your light is, uh, is how we really look at our approach is to coach, lead and train and help those agents, because the more and more agents I help coach, lead, train, navigate through business, grow their business vertically, the more other agents. They’re going to reach out to and let them know about the company.

Lee Kantor: And if somebody.

Cheri Benjamin: Wants, that’s really how we see it. There’s a lot of agents out there that are just struggling.

Lee Kantor: Right. And it’s like you said, they feel like they’re in an island. They were sold a bill of goods, and then it’s kind of sink or swim on your own and good luck. And, um, they don’t really have the support and the mentorship and the coaching needed to help take, you know, maybe somebody who needs a little more guidance to the next level. So if somebody wants to, if somebody wants to connect with you and learn more, what’s the website?

Cheri Benjamin: So in order to connect and learn more with us, you can actually visit a real village.com. And if you visit a real Village.com, that really does explain a. A lot of who we are and our main website is Village Premier. Com so you can also go there too. They both link to each other, but a real Village.com does tell you how about who we are? And you can always dig and dig and dig even more if you’d like to.

Lee Kantor: Well, Sherry, thank you.

Cheri Benjamin: But you can reach out to us there. You can contact us there. You can learn more about us. Join the tribe. You can do all those things there.

Lee Kantor: Well, Sherry, thank you so much for sharing your story today. You’re doing such important work and we appreciate you.

Cheri Benjamin: Thank you so much. Thanks for having us. All right.

Lee Kantor: This is Lee Kantor. We’ll see you all next time on Atlanta Business Radio.