Erica Wolfe: The Wolfe of Real Estate

REE #238 Transcript

[00:00:00] Erica Wolfe: I like to call those people askholes. They ask how to do something, you tell them how to do it, and then they don't listen, but they'll keep coming back and asking for advice.

[00:00:10] Tracy Hayes: Welcome back to the Real Estate Excellence Podcast. Today's guest is a top-producing real estate agent and a native of Jupiter, Florida. She leads an amazing team and has built a strong reputation in Palm Beach County due to her expertise and trustworthiness.

[00:00:50] Tracy Hayes: She's well-known for her consistent social media presence, growing a circle of influence, and delivering an elevated real estate experience. Let’s welcome the Wolf of Real Estate, Erica Wolfe.

[00:01:10] Erica Wolfe: Thank you so much for having me.

[00:01:12] Tracy Hayes: Glad to have you on. I'm stepping outside of Northeast Florida to bring some inspiration and knowledge. Real is growing here and overall, isn't it?

[00:01:26] Erica Wolfe: Yes, it is—at a rapid pace.

[00:01:30] Tracy Hayes: I’ll just have you move slightly to your left so you’re centered on camera. Perfect. So, Real is growing, and I had lunch with a couple of agents locally who mentioned the tech behind it. Am I right that the creator of Real is a tech expert?

[00:01:55] Erica Wolfe: Yes, and that’s one of my hidden talents—I love tech. What’s amazing about Real is the proprietary tech they’ve built. Our Chief Tech Officer is brilliant, and the tools are developed based on agent feedback. You can suggest something, and they’ll have it implemented within weeks.

[00:03:00] Tracy Hayes: That responsiveness says a lot.

[00:03:01] Erica Wolfe: Exactly. It’s exciting to see where it’s heading.

[00:03:34] Tracy Hayes: Tell us a bit about young Erica growing up in Jupiter. What was 18- or 19-year-old Erica thinking about for a career?

[00:03:45] Erica Wolfe: At 18 or 19, I had one child and was pregnant with another. So, you might need to go further back.

[00:03:53] Tracy Hayes: Understood.

[00:03:54] Erica Wolfe: Born and raised in Jupiter, it was a small fishing village. I didn’t realize how privileged our life was until I started traveling. Now, it’s home to many athletes, tech billionaires, and professionals.

[00:04:15] Tracy Hayes: Does John Maxwell live in Jupiter?

[00:04:18] Erica Wolfe: Yes, he does.

[00:04:22] Tracy Hayes: There’s a lot of high-end migration to Jupiter.

[00:04:28] Erica Wolfe: Yes, and that’s more recent. People discovered the Bahama-blue water and laid-back lifestyle. Traffic is a challenge now, though.

[00:04:38] Tracy Hayes: How did you get into real estate?

[00:04:41] Erica Wolfe: In high school, I worked at a bank, then an insurance agency. While working there, I saw commission checks on settlement statements and thought, “I need more money.” I got my real estate license in 2008 while pregnant with my second child.

[00:05:11] Tracy Hayes: Did someone guide you, or was it just seeing those numbers?

[00:05:14] Erica Wolfe: No one guided me. I was good at office jobs and systems, but I needed to earn more.

[00:05:26] Tracy Hayes: You started during a downturn in 2008. That must have been tough.

[00:05:30] Erica Wolfe: It was, but I didn’t know any different. I partnered with an attorney handling foreclosures and short sales, worked on commission, and closed around 200 deals a year.

[00:06:33] Tracy Hayes: That experience must have taught you a lot.

[00:06:35] Erica Wolfe: Absolutely. I wasn’t afraid to work hard. I handled everything, from taking photos to negotiating deals.

[00:09:38] Tracy Hayes: What advice would you give to agents just starting out or those feeling stuck?

[00:09:45] Erica Wolfe: Look for value in your brokerage. If you’re bringing more value than you’re receiving, it’s time to move on. Surround yourself with like-minded, motivated people who are always learning and growing.

[00:10:57] Tracy Hayes: That’s a great point. Culture matters.

[00:11:00] Erica Wolfe: Absolutely. That’s why I’ve aligned with teams and platforms that support growth and innovation. Real is a great example of that.

[00:11:00] Erica Wolfe: They weren’t going to listen to me when I suggested redoing their systems. Eventually, I switched to a local brokerage because I had an investor client from the short sales and foreclosures space. I realized I could keep 90% of his transactions. He was buying around 20 to 30 properties a year, and at the same time, I was getting more clients from my sphere of influence. People my age were starting to buy homes, often with help from their parents. It was a huge opportunity in my area.

[00:11:39] Tracy Hayes: You built trust with this investor, which is critical. You mentioned earlier how you encouraged him to invest in a $3 million fixer-upper. That’s not a small decision, and it shows the level of trust he had in you.

[00:12:11] Erica Wolfe: Yes, trust is a big focus for our team today. We emphasize being highly communicative—someone is always available to help. On our team, we collaborate and assist each other regardless of whose deal it is.

[00:12:31] Tracy Hayes: That team collaboration is important. In sales, you never know where your next opportunity will come from. It could be a $150,000 manufactured home in a rural area, but how you treat clients can lead to referrals and long-term relationships.

[00:13:05] Erica Wolfe: Absolutely. That trust helped me establish credibility. When I left the short sale and foreclosure world, I started to gain traction in the local market. At first, I wasn’t taken seriously as the only young agent in the community, but doing a significant volume of deals changed that perception.

[00:13:31] Tracy Hayes: Over time, you gained confidence and learned how to handle complex deals. Every transaction seems to come with its unique challenges, but it sounds like your experience dealing with banks and foreclosures helped prepare you.

[00:14:24] Erica Wolfe: Definitely. Communicating with frustrated sellers during the short sale process taught me how to navigate tough situations. Many of these sellers were in difficult emotional states, and I had to keep things professional and focused.

[00:15:00] Tracy Hayes: That was a tough time in real estate. I remember foreclosures where sellers stripped homes of everything they could before leaving. It must have been challenging to deal with those situations.

[00:16:00] Erica Wolfe: It was, but it helped me grow. For agents today, whether they’re new or feeling stuck, my advice is to evaluate whether their current brokerage is still providing value. If you’re the one bringing all the value, it might be time to move on.

[00:17:00] Tracy Hayes: That’s a great point. When you’re giving more than you’re receiving, it’s hard to justify staying. You mentioned switching to a cloud-based brokerage. How did that transition impact your business?

[00:18:00] Erica Wolfe: It was a game-changer. I joined eXp Realty and later Real because of the collaborative culture. Being surrounded by motivated, like-minded agents who share their knowledge openly has been invaluable.

[00:19:26] Tracy Hayes: At what point did you decide to build your team?

[00:19:55] Erica Wolfe: I waited too long. I was working 120-hour weeks before hiring my first buyer’s agent, who’s still with me today. We spent years building systems and checklists to ensure consistent service. Now, our team functions cohesively, and everyone supports each other.

[00:22:00] Tracy Hayes: It sounds like you’ve created an efficient system. Retention is critical for team success. What do you focus on to keep your team engaged?

[00:24:00] Erica Wolfe: It’s about providing value and maintaining a good work-life balance. My team members trust me with their careers, and I don’t take that lightly. We only hire when everyone is meeting their goals and we have excess leads.

[00:28:00] Tracy Hayes: It’s impressive that you’ve built a team where everyone feels valued and supported. Many agents would leave for better splits, but the value you provide keeps them with you.

[00:29:00] Erica Wolfe: I’m confident in our approach. We focus on creating a supportive environment where agents can thrive without the stress of building systems or managing expenses.

[00:28:58] Erica Wolfe: Yeah, I'm not in survival mode anymore. I'm confident in what we're doing, and I'm confident that deals are coming in.

[00:29:09] Tracy Hayes: Confidence is a word that comes up often in my interviews. I'm glad you brought it up. Like I said earlier, a lot of agents get into the business and, after taking a course and putting in hours, they still don’t know much about real estate. Unless they have a mentor or a relative in the industry, they really don’t know how to navigate it.

They haven’t reached the 30,000-foot view you’re at now, where you can handle new challenges because of experience. There's a learning curve. What tips would you give to agents who’ve been in the business for a few years but haven’t fully grasped things like finding investors for flips or being a real estate matchmaker?

[00:30:28] Erica Wolfe: I think the biggest thing is when it’s slower, educate yourself. Even on the market.

[00:30:30] Tracy Hayes: Right.

[00:30:31] Erica Wolfe: We’re not in a horrible market. We’ve just been used to markets like 2008–2012 or the pandemic frenzy. Historically, our days on market aren’t bad. It’s about having conversations with clients upfront to ease their nerves. Most agents don’t educate themselves about their market enough to explain it to their buyers or sellers.

[00:31:14] Tracy Hayes: Right.

[00:31:15] Erica Wolfe: So when you’re slower, educate yourself.

[00:31:17] Tracy Hayes: There’s so much information available. Do you think a lot of agents don’t understand how to interpret it? They might need someone experienced, like you, to guide them.

[00:31:38] Erica Wolfe: Your MLS offers so much data. Many agents don’t explore it or use it. You can find tutorials on calculating absorption rates, cap rates, or trends. It’s about diving into your MLS instead of relying only on national news, which can differ from your local market. Your clients need local knowledge.

[00:32:21] Tracy Hayes: Exactly. If agents don’t know where to start, they should find someone experienced like you to see what you’re reading and doing. Agents need to simplify complex market data for their buyers and sellers.

[00:33:19] Erica Wolfe: Look at what other agents in your market are doing. If you don’t understand, research what they’re talking about. You can use AI tools to help interpret data or learn from smart agents like Jeremy Knight and David Caldwell, who provide valuable local market insights.

[00:33:58] Tracy Hayes: That brings us to the event you hosted in October. What was the goal of that event, and what topics did you cover?

[00:34:21] Erica Wolfe: I hosted that event to bring the value of national conferences locally. I invited friends like Brad McCallum, Phil Curtis, Shannon Gillette, Jeremy Knight, and Megan Farrell Nelson. They shared insights on video storytelling, Instagram strategies, YouTube, client events, and blending life and career. The common thread was focusing on one thing and going all-in.

[00:36:00] Tracy Hayes: Social media came up as a big topic. Many agents think it’s oversaturated, but platforms like YouTube are underutilized for real estate. How do you encourage agents to embrace long-term consistency in social media?

[00:37:41] Erica Wolfe: They have to trust the process and stay consistent. Social media rewards constant posters, not sporadic ones. There are plenty of free resources on YouTube to learn about Instagram, Facebook, and YouTube strategies.

[00:39:00] Tracy Hayes: Measuring success can be challenging for agents. Social media isn’t like selling groceries; our clients aren’t buying houses every day. How do you convince agents to see social media as a long-term investment?

[00:39:38] Erica Wolfe: Some people just need to trust that it works and commit. Consistency is key.

[00:40:51] Tracy Hayes: You’ve created a digital ads course on WolfCore.com. Can you share more about what agents can learn?

[00:41:00] Erica Wolfe: The course covers how to run digital ads for listing videos and community content on platforms like Facebook and Instagram. It’s a click-through program that shows exactly where to click, how to set up ads, and what content to promote.

[00:43:35] Tracy Hayes: These ads can add value by showing sellers the number of clicks and engagement their listing receives. For someone starting, what’s the typical cost to run ads?

[00:45:13] Erica Wolfe: You can start with as little as $5 a day.

[00:46:00] Tracy Hayes: What do you love most about real estate? What motivates you every day?

[00:46:17] Erica Wolfe: For me, it’s shifted over time. Initially, I loved showing homes and neighborhoods to clients. Now, it’s about helping my agents succeed.

[00:47:52] Erica Wolfe: When a crackhead jumped out of a closet—we had been working on that house for like three hours.
[00:47:59] Tracy Hayes: Oh my goodness. And finally, he just gave up and came out.
[00:48:06] Erica Wolfe: I remember her face and everything.

[00:48:12] Tracy Hayes: That is one for the "Sh*t in Real Estate" podcast. That would be a good story for that.

So, what are you doing now—something you've evolved to do over your career—that you feel is crucial to your business? Something you do consistently to ensure your success and your team's success?

[00:48:41] Erica Wolfe: I have a daily, weekly, and monthly checklist that sits to the right of my computer. It's a list of tasks I’ve found to be successful, and I hold myself accountable to completing them every day. There are multiple tasks on the list—about 10 daily activities—and I know if I get them done, we’ll be successful.

[00:49:10] Tracy Hayes: I really like the consistency of having a list and holding yourself accountable. That’s the bottom line. We wish we could just do one thing all day, like play on social media and be successful, but it doesn’t work that way. Having a list and sticking to it is great advice for anyone.

I’m sure you sometimes end your day with a few things still on the list. What do you do then?

[00:49:49] Erica Wolfe: It always gets done, even if it carries over to the next day.

[00:49:51] Tracy Hayes: That’s great. Now, let’s get practical for our listeners. What are three things your team is doing right now that every agent should be doing in today’s market?

[00:50:14] Erica Wolfe: First, an "hour of power"—spending an hour calling people in your database. Second, doing CMAs for past clients or home equity reviews. Third, showing up consistently on social media.

[00:50:27] Tracy Hayes: Showing up on social media is huge. For agents struggling with this, what’s the simplest way to get started?

[00:50:37] Erica Wolfe: Just post something.

[00:50:39] Tracy Hayes: Just post something—great advice. How important is it for agents to get themselves on video?

[00:50:47] Erica Wolfe: At this point, I don’t know how any agent thinks it’s not important. It’s the topic of every conversation, every event, and every coaching course.

[00:50:55] Tracy Hayes: I totally agree. Last question: Let’s say you have a friend in Seattle who wants to get into real estate. What are the first two or three steps you’d tell her to take?

[00:51:26] Erica Wolfe: First, get licensed. Second, join Real Broker with us and participate in the new agent trainings. Third, become super active in your community, especially through Facebook groups.

[00:51:37] Tracy Hayes: Community Facebook groups are key. Being active and involved helps build connections. My wife, who’s also an agent, is very involved in the mom’s group in our community. Would you agree that kind of engagement is important?

[00:52:06] Erica Wolfe: I agree.

[00:52:07] Tracy Hayes: Thank you for your time, Erica. I appreciate you coming on. Hopefully, one day, we’ll meet in person.

[00:52:23] Erica Wolfe: For sure.

[00:52:24] Tracy Hayes: If you’re free in January, we’re having an RE Bar Camp on the 17th. It’s a fantastic event with great speakers. If you can make it, let me know—I may have an extra ticket.

[00:52:56] Erica Wolfe: Thank you so much.

[00:52:57] Tracy Hayes: Have a great day!