At the top of his game, wielding incomparable business savvy and an uncanny knack for spotting potential talent, Peterson was blazing an impressive trail in the corporate world. As director of operations for the nationally acclaimed Capella University, his was a hectic, stressful and complex job. Peterson says the work was challenging, even rewarding, but something was missing.<\/p>\n
\u201cThere came a point when I realized it just wasn\u2019t personally rewarding,\u201d he says. \u201cI find it much more fun and challenging when I have more control over the outcome and the reward.\u201d<\/p>\n
It was the awakening of Peterson\u2019s innate entrepreneurial makeup; but not his interest in real estate. That had been a growing pursuit for a long time.<\/p>\n
\u201cI always had a passion for real estate,\u201d he says, \u201cbut, in 2001 my wife and I bought a home and sold a home. We had a good experience and we had a bad one. So, from 2001 to 2005, when I became an agent, I was really watching the market. I was closely following the players; what do they do well, what don\u2019t they do well? Where did they succeed, and where did they fall short?<\/p>\n
\u201cI was an open house junkie too,\u201d he continues, a smile spreading across his face. \u201cI went to open houses like crazy. Our daughter at the time was a year old, and we laugh about it now, but the three of us went to just about every open house we heard about. We weren\u2019t buying a home, but my interest was sparked.<\/p>\n
\u201cI met with real estate agents, talked at length with them, just gathering as much information as I could. By 2004, when I knew I was going to be moving from the corporate world to something of my own, real estate was a natural fit.\u201d<\/p>\n
Embarking on any new enterprise requires at least a modicum of financial adjustment; a transitionary period when money and effort are going out, with little coming in. Cognizant of this, as the business plan came together, he and his wife Linda considered all possibilities including the chance that it could realistically be long stretch before seeing any meaningful returns.<\/p>\n
Meanwhile, growing increasingly dissatisfied Peterson knew the time was near when he had to make a move. His resignation came early one morning much to the chagrin of his many loyal employees.<\/p>\n
\u201cI\u2019d had a particularly unfulfilling day,\u201d he says, \u201cand it was only 8:30 in the morning! I knew it was the day I was going to resign. I felt torn. I really liked the people I worked with and my leaving really seemed to upset my employees.\u201d<\/p>\n
Peterson\u2019s mood seems to quickly shift from bittersweet to the lighter side of that day. \u201cI called my wife to let her know I\u2019d quit my very lucrative job, and all she asked was, \u2018Are you going to be home for dinner?\u2019\u201d<\/p>\n
Agreeing to stay on for a reasonable length of time to ensure a smooth transition, Peterson methodically prepared for his next career while winding down the old.<\/p>\n
\u201cI probably worked another three months,\u201d he says. \u201cDuring that time, I completed my real estate courses and wherever possible, began laying the groundwork to launch my business.\u201d<\/p>\n
Ironically, the only scenario the Peterson\u2019s had not planned for was immediate and impressive success.<\/p>\n
\u201cI knew that a lot of real estate agents struggle in the beginning,\u201d he says, \u201cbut my business took off\u2013 a success right out of the gate! I believe one of the reasons is that I treated it like a business in every respect.\u201d<\/p>\n
Even before meeting with his first client, Peterson had effectively addressed all key aspects of launching and sustaining a new business including: marketing, branding, client communications and follow-up. However, the real recipe for success came from Peterson\u2019s own character. His drive, ambition, exceptional people skills and, thanks to his engaging personality, his exceptionally large circle of influence.<\/p>\n
\u201cProbably my first eight to 10 clients were people who had worked for me,\u201d says Peterson. \u201cAnd, those transactions were all within the first six months.\u201d<\/p>\n
Given his scrupulous due diligence prior entering the real estate business, it\u2019s no surprise that Peterson was equally judicious when selecting a broker. He proudly hung his license in the Edina Realty Maple Grove office in 2005, and 13 years later it\u2019s still there.<\/p>\n
\u201cI interviewed with other companies,\u201d says Peterson, \u201cand naturally selected Edina Realty due to their dominant brand recognition as well as strong agent training and development. I was most impressed at their agent retention. So many of their leading agents had been with them 10-20+ years so I knew it would be right for me.\u201d<\/p>\n
Peterson\u2019s foresight, research and discriminating approach have certainly contributed to his success, however, those closest to him would argue that it\u2019s his ingratiating charm, often droll sense of humor and, most importantly the fact that when he exhibits interest in someone-it isn\u2019t feigned, that have launched and sustained his continued growth. Ultimately, it\u2019s probably a combination of all of the above. And, it certainly doesn\u2019t hurt that, long before a real estate career was even a vague possibility, Peterson had earned a degree in management from St. Cloud State University.<\/p>\n
Speaking of which, it should be noted that he is an avid proponent of education. A life-long student himself, Peterson actively seeks opportunities to explore and learn something new every day. In fact, within the first two years of receiving his real estate license, Peterson had also earned his ABR, e-Pro certification as well as his NHSS and GRI designations.<\/p>\n
What\u2019s truly impressive is that in addition to all that classroom work, he also bought his first investment property in 2006, held his first client appreciation event (that required a bus to accommodate everyone) in 2007 and was named Maple Grove\u2019s Best REALTOR\u00ae by Press News.<\/p>\n
Three years into his already thriving real estate career, everything seemed to be happening faster and all at once.<\/p>\n
\u201cThat year was really a challenging one,\u201d Peterson says. \u201cI completed my MBA, which naturally required time and attention, and yet it turned out to be my biggest performing year to date.\u201d<\/p>\n
It was 2008, and Peterson, who had hired a full-time marketing administrator the previous year, also made the first move towards ultimately forming his own team. \u201cAnother agent in the office and I decided to partner up,\u201d he says. \u201cWe didn\u2019t identify ourselves as a team per se, we simply helped one another and covered for each other for vacations, etc.<\/p>\n
\u201cShe was an excellent agent and we worked together very well,\u201d he adds. \u201cThat partnership lasted about two years, until she moved out of the market. From that point on, I\u2019ve always had team members.\u201d<\/p>\n