By DAWN HANKINS – [email protected]
Madison Arnold realizes that college is important. But lately, she seems to be enjoying more being able to follow her grandmother and local real estate agent Dianne Arnold.
She notes that âGrandmaâ – a well-known local real estate agent for 35 years – is still moving very quickly in the real estate market; she is in the top 10% in Shelbyville. She has been a long-time real estate agent with Coldwell Banker Segroves-Neese Real Estate.
âI’m the oldest Harold agent he’s ever had. I stayed with him longer than everyone else.
Dianne, who works with Harold Segroves, is a residential and new home specialist. She has retained her Tennessee State real estate license since 1986. She remains in the top 1% of Coldwell Banker agents nationwide. Dianne was a member of the president’s elite in 1999 and a million dollar seller from 1988 to 2002.
She explains, âHiccup always told me I had this little Jedi thing when I talk to people. He said: ‘How are you doing, I don’t know.’ ”
Dianne believes listening is the key to her success.
Looking at her granddaughter, Dianne says that Maddie, as she affectionately calls her, is her right hand. Plus, she says Maddie is “technologically savvy.”
“I tell her she’s saving me a lot of time.”
Madison admits her paternal grandmother is much more seasoned in the public relations arena.
âShe speaks a lot better. . . convince people. I put it in the computer.
This 18 year old girl realizes that she has very big shoes to fill when it comes to being close to a real estate entrepreneur like her “Grandma”.
Farm girl at heart
Born and raised in Unionville, Dianne credits her family for much of her success. She also thanks several community school educators for setting her on the path to a lifelong business career. A graduate of Community High School, Dianne grew up in a large family on a working farm. Her father was a farmer, cattle / horse trader, and local veterinarian.
She says she learned a lot about business, money management and saving from him. Accompanying her father as he traded horses, and also with her older brother, a local estate agent and auctioneer, Dianne says she grew up learning basic good business skills, she reveals.
She was encouraged to receive a good education. She took this advice and majored in marketing and accounting in college.
Then, she met the love of her life, Steve, and started her family. The couple had two sons Mark and Clint.
During their “high demand years,” Dianne worked as an area supervisor with a ladies’ clothing company and drove approximately 2,000 miles per week. Steve worked nights and she admits it was very difficult to get boys to school functions etc.
This, coupled with a family illness, was the deciding factor for Dianne in obtaining her real estate license.
She still believes it was the right choice, even with many ups and downs over the years. Now she works with her third and fourth generations of owners.
Working as a family
âI told Madison. . . if you work with me and i decide i want to slow down over the next couple of years, there’s a big database you can walk around with. If she meets them all and they learn to trust her, like they did to me, she’ll have a good deal.
A graduate in communications, Madison has already obtained her bachelor’s degree in real estate; she does not take this process lightly.
Dianne says she’s preparing this aspiring real estate agent to “come out of his shell”.
She told Madison about the long hours at the company – 7 days a week, sometimes 16 hours a day.
“I’d like to slow down a bit, let her pick up, so I can slow down.”
Madison adds, “You’re about 3 years older.” “Grandma” laughs.
Madison admits she is ambitious. She strives to be able to “stay together” just like her grandmother. Seriously, she notes that her “Grandma” cannot eat, write and drive at the same time. “Granny” said to her real estate prodigy, “I’ve been doing this for years.” They joke about Dianne’s conduct, admitting it’s a hereditary trait.
Dianne says, âI didn’t realize she looked so much like me until we started working together. ”
The two, who even promote appearance, say they rarely have family feuds. But they collide quite often.
Dianne said she also explained to Madison that as real estate agents they were at the âbig timeâ in the market, like in 2006.
She remembers how her former math teacher – the one who lived through the Great Depression – preached that the economy never continues to run “on a dime” and that it “will correct itself.” The local real estate agent believes this to be true.
âIt’s going to happen again,â she says of the current economy. Dianne said that at this time, as in 2006, the Mid-Tennessee Real Estate Board has 2,500 agents, of which 300 were added in 2021. She said that many new agents in 2006 – after the market collapsed – were forced to find new jobs. (The collapse in house prices due to defaults on subprime mortgages and risky investments in mortgage-backed securities would burst the real estate bubble in 2008.)
The longtime real estate agent recalled, âThe only ones who kept going were us seniors, the ones who knew when you work, you do what your parents taught you. . . hand over money for that rainy day. We put it back in place and we are the ones who made it.
Dianne says Madison is already good at saving money. She shared with her granddaughter the financial wisdom of withdrawing $ 10 from every paycheck (from the 1970s) and opening a savings account, as there is less temptation to withdraw from this type. account, she said.
âAt that time, it was paying for my gasoline to work. . . $ 5 gasoline, $ 5 to buy a loaf of bread and a pound of bologna and cheese for my sandwich each day. ”
Madison sighs at the remark about the sandwich.
âI would put the rest in my savings. I still do. . . except my $ 10 has gone to around $ 200 to $ 300 now. ”
Dianne says she puts potential homeowners in trouble with her top lenders. She says they “educate” them on what it will take to buy a house. She thinks it’s an investment in her business. She encouraged Madison to take a few courses, such as a valuation course that taught her how to do market analysis. She says this has been invaluable as it has taught her how to learn to price-list to sell.
Dianne also recommends that her granddaughter take many finance courses. She explains that in her 35 years as a real estate agent, business has continued to move, thanks to the 100% USDA rural development loans available. This loan has helped many homeowners come to fruition, she says.
“As long as they have a job, a good credit rating, we can sell them everyday.”
With these 100% USDA loans, she says, the seller pays all closing costs, first-year insurance, and will even set up escrows.
“We’re lucky. Most of the little counties around us are still like that.”
She said that because median incomes are taken into account, growing cities like Murfreesboro are no longer eligible for these no-down loans.
Happy until the end of time
Although some people think realtors “hang around and talk all day,” Madison begs to disagree, especially now that she’s been traveling with her “granny.”
She saw her âgrandmotherâ make her wishes come true. Dianne says this is the business she always wanted, rather than being a broker, despite some pleas from local businessmen.
Madison lives near Beech Grove; she attends university thanks to numerous generous scholarships.
Dianne notes: âI told her maybe it wasn’t for her. I told him to try. . . take a job where she travels out of town and sees things while she is young.
What’s one of the biggest things this seasoned real estate agent is likely to teach his prodigy?
âIt took me a long time. . . realizing that I couldn’t make everyone happy. It really, really bothered me. . . my first 15-20 years, if anyone complained. I learned that you cannot satisfy everyone.
Madison waits and learns all she can from her “grandmother” before embarking on her first house sale.
âI don’t want to ruin everything. This is my great fear.
Dianne notes that she thinks that day is coming soon for Madison. She can’t wait to share this sense of accomplishment with her granddaughter.