Austin broker’s business model: Give back

Article originally published in the Austin American Statesman.

It was, Laurie Loew says, one of the bravest moves she has ever made: Starting her own Austin-based real estate company on July 23, 2008.

Loew’s marriage had dissolved the year before, and she wasn’t sure she’d be able to keep working in real estate. But she decided to move forward with her plan to use a “socially responsible” strategy that she hoped would differentiate her firm — which she named Give Realty Inc. — from the competition.

The concept was that Give Realty would be a “philanthropic brokerage” that would donate 25 percent of every sale or commission to a local or national nonprofit of each client’s choice. Having grown up in a Catholic family with nine siblings in an 1,800-square-foot home in Scottsdale, Ariz., Loew says the strategy also aligned with her upbringing — particularly her mom’s mantra to her to always “count your blessings.”

Five years later, Give Realty has surpassed the quarter-million mark in charitable giving, with donations to date totaling $259,527 to nearly 80 nonprofits, Loew said. They include Manto Coahuila Orphanage, the Austin Community Foundation, Safeplace, Any Baby Can, CASA and Austin Pets Alive.

Loew said her firm generated $1 million in revenue in the past five years, including more than $300,000 in the 12 months that ended in June. Assuming the current sales pace continues, Loew expects to top the $500,000 donation mark within two years.

Debbie Johnson, director of Austin Gives, a nonprofit organization that recognizes businesses that give back 1 percent or more of their pre-tax earnings, said Give Realty “epitomizes great philanthropy in Austin.”

Loew “not only gives back way more than most businesses, but she is also committed to creating other, new philanthropists so there is a magnified effect to her giving,” Johnson said by e-mail.

Nationwide, corporate giving is typically just over .1 percent of revenue and just under 1 percent of pre-tax earnings, Johnson said.

Susan Raymond, executive vice president of New York-based Changing Our World, a global consulting firm to nonprofit organizations, corporations, private foundations and philanthropists, said a “fundamental change” is taking place in the way communities and companies look at their relationship to one another.

In an e-mail, Raymond said companies like Give Realty “represent a growing trend in which the success of business creates resources to strengthen community. This has always been the case in many ways – successful business creates jobs and economic value which strengthens community. But to that benefit is now added a more purposeful resource transfer, that adds to the inherent relationship a conscious contribution to the nonprofit institutions that serve the larger societal need.

The changing model, Raymond said, is a “win-win; business gains, economies gain, and the larger community is strengthened by the shared attention to societal needs.”

From the outset, Loew said the “socially responsible” business model she adopted was life-changing.

Loew said when she made Give Realty’s first donation — $1,050 to Mobile Loaves and Fishes on July 31, 2008 — the nonprofit’s receptionist didn’t quite know what to make of it when Loew dropped off the check.

“I literally cried on my way home, I was so happy,” Loew said. “It felt really good.”

Her next client worked at Dell Inc., resulting in a $1,600 check to the Downs Syndrome Association of Central Texas. Dell Inc. matched the contribution, for a total gift of $3,200.

Loew said that even as she watched her retirement savings dwindle during the firm’s first two years as she struggled along with the economy, she refused to change her business model, continuing to donate the full 25 percent.

“It was an investment in my future, and in Austin’s future,” said Loew, whose firm has two full-time agents, one part-time agent and an administrative assistant.

Loew said if every local real estate agent had given one-fourth of their commissions to nonprofits, it would have resulted in more than $14 million being donated in May alone.

“It’s the tip of the iceberg of what can be done,” she said.

Paul Hilgers, president of the Austin Board of Realtos, said Loew “should be recognized for the creative business model that she has, and we are interested in exploring other opportunities for Austin Realtors to make a difference in their community like she has.”

He said it will be a topic of discussion for the board and its foundation going forward, including in upcoming strategic planning sessions.

That’d be just fine by Loew, who said her business model is not about her becoming wealthy, but about “doing some good in the world.” And it has altered her definition of success along the way.

“I have never been happier,” Loew said. “I literally get goosebumps every day. You can create change.”

Five Years Ago Today

MobileLoaves&FishesFive years ago today, Give Realty made its very first donation of $1050 to Mobile Loaves & Fishes, on behalf of Gregg and Nancy Vossler.

There was no check presentation, nor any photos taken, but the experience will be forever etched in my memory. The trajectory of my life changed that day. I’ve never been happier or more fulfilled and I have learned a lot about myself in the process.

Here’s a short list:
1. Possessions are just stuff, most of which has to be dusted, cleaned and maintained
2. I can’t wear more than one pair of shoes or earrings, or carry more than one purse at a time
3. Money doesn’t buy you happiness (but it does help you buy a nice car to drive around while you are looking for it!)
4. Relationships are what is important – in life, in love, and in business
5. Success, happiness, and age are only defined in your own head. Don’t let other people’s definition mess with yours.

I spent a lot of time in my teens and twenties imagining what my life would be like when I go to the age I am now (49, if you are wondering). What I imagined is nothing like my life turned out to be, but I’ll never look over my shoulder and wish I took a different path. Best of all, I’m really looking forward to where my path(s) will continue to take me. ~ Laurie

We Have Survived, and Thrived, Thanks to You!

It feels like yesterday and I can remember it as clearly….checking the Texas Real Estate Commission website every two minutes to see if Give Realty had been entered into their system so I could  legally “go live” with the Give Realty brokerage website.

I can hear Donna Summer’s singing “I Will Survive” as I write this.  In July of 2008 I had been divorced for less than a year and had just had my 44th Birthday. Why in the world was I starting a business when I had such a thin financial safety net and have never been a solo entrepreneur before?  And why a real estate brokerage– where the only consistency is the inconsistency of a paycheck?  What the hell was I thinking?

When Give Realty was founded on July 23, 2008, statistically there was a 50/50 chance we would be around to celebrate our 5 year Anniversary. Not only has the brokerage survived, but I have personally found my life’s passion in the process.

It hasn’t always been easy.  Mistakes have been made, a few bridges have been burned, and many lessons learned.  Most importantly – treasured friendships have been formed; I finally figured out what I want to do with the rest of my life and I’ve never been happier.

AngelLogoIf you have seen the invitation for the Anniversary Celebration today, you will notice an angel theme. That’s because we consider each and every client to be an Angel Investor in Give Realty. Thank THEM for what they have allowed Give Realty to do for the community. They are the reason why over $250,000 has been donated to nonprofits.  Without clients, we can’t give.  I’ve often said the greatest benefit of the business model is the caliber of our clients and their willingness to make the world a better place.  They do so, not just through the business model, but in their everyday life.  Our clients are stellar examples of why Austin is the place to be.

There are other contributors too.  I’m not sure Give Realty would have survived if we had started the business in some other city.  Not only did Austin’s economy hold up better than most, but the entreprenuerial spirit is thriving and the community has been extremely supportive. A big thank you to the nonprofit community as well!  You’ve been instrumental in spreading the word and sharing our message.

It really takes a village to keep it all together. I hope that each and every one of you understand how important you are to our survival.  We are really looking forward to the next five years. We can’t do it without you!

Austin broker’s business model: Give back

Article originally published in the Austin American Statesman.

LaurieIt was, Laurie Loew says, one of the bravest moves she has ever made: Starting her own Austin-based real estate company on July 23, 2008.

Loew’s marriage had dissolved the year before, and she wasn’t sure she’d be able to keep working in real estate. But she decided to move forward with her plan to use a “socially responsible” strategy that she hoped would differentiate her firm — which she named Give Realty Inc. — from the competition.

The concept was that Give Realty would be a “philanthropic brokerage” that would donate 25 percent of every sale or commission to a local or national nonprofit of each client’s choice. Having grown up in a Catholic family with nine siblings in an 1,800-square-foot home in Scottsdale, Ariz., Loew says the strategy also aligned with her upbringing — particularly her mom’s mantra to her to always “count your blessings.”

Five years later, Give Realty has surpassed the quarter-million mark in charitable giving, with donations to date totaling $259,527 to nearly 80 nonprofits, Loew said. They include Manto Coahuila Orphanage, the Austin Community Foundation, Safeplace, Any Baby Can, CASA and Austin Pets Alive.

Loew said her firm generated $1 million in revenue in the past five years, including more than $300,000 in the 12 months that ended in June. Assuming the current sales pace continues, Loew expects to top the $500,000 donation mark within two years.

Debbie Johnson, director of Austin Gives, a nonprofit organization that recognizes businesses that give back 1 percent or more of their pre-tax earnings, said Give Realty “epitomizes great philanthropy in Austin.”

Loew “not only gives back way more than most businesses, but she is also committed to creating other, new philanthropists so there is a magnified effect to her giving,” Johnson said by e-mail.

Nationwide, corporate giving is typically just over .1 percent of revenue and just under 1 percent of pre-tax earnings, Johnson said.

Susan Raymond, executive vice president of New York-based Changing Our World, a global consulting firm to nonprofit organizations, corporations, private foundations and philanthropists, said a “fundamental change” is taking place in the way communities and companies look at their relationship to one another.

In an e-mail, Raymond said companies like Give Realty “represent a growing trend in which the success of business creates resources to strengthen community. This has always been the case in many ways – successful business creates jobs and economic value which strengthens community. But to that benefit is now added a more purposeful resource transfer, that adds to the inherent relationship a conscious contribution to the nonprofit institutions that serve the larger societal need.

The changing model, Raymond said, is a “win-win; business gains, economies gain, and the larger community is strengthened by the shared attention to societal needs.”

22laurie-articleInlineFrom the outset, Loew said the “socially responsible” business model she adopted was life-changing.

Loew said when she made Give Realty’s first donation — $1,050 to Mobile Loaves and Fishes on July 31, 2008 — the nonprofit’s receptionist didn’t quite know what to make of it when Loew dropped off the check.

“I literally cried on my way home, I was so happy,” Loew said. “It felt really good.”

Her next client worked at Dell Inc., resulting in a $1,600 check to the Downs Syndrome Association of Central Texas. Dell Inc. matched the contribution, for a total gift of $3,200.

Loew said that even as she watched her retirement savings dwindle during the firm’s first two years as she struggled along with the economy, she refused to change her business model, continuing to donate the full 25 percent.

“It was an investment in my future, and in Austin’s future,” said Loew, whose firm has two full-time agents, one part-time agent and an administrative assistant.

Loew said if every local real estate agent had given one-fourth of their commissions to nonprofits, it would have resulted in more than $14 million being donated in May alone.

“It’s the tip of the iceberg of what can be done,” she said.

Paul Hilgers, president of the Austin Board of Realtos, said Loew “should be recognized for the creative business model that she has, and we are interested in exploring other opportunities for Austin Realtors to make a difference in their community like she has.”

He said it will be a topic of discussion for the board and its foundation going forward, including in upcoming strategic planning sessions.

That’d be just fine by Loew, who said her business model is not about her becoming wealthy, but about “doing some good in the world.” And it has altered her definition of success along the way.

“I have never been happier,” Loew said. “I literally get goosebumps every day. You can create change.”