EP.39: Interview With Dr. Lee Davenport
Dr. Lee Davenport grew up in a real estate family, with both mom and dad in real estate investing. Because mom and dad worked so hard, it meant Lee had to tend to the house as a only child and she hated that.
In 2001, she had just finished up college and was convinced since the market was so good to start investing in apartment buildings. She says this is where her childhood came full circle and the hard work she saw her parents do and the industriousness she had as an only child really worked to her advantage.
In 2008, like many others, Davenport watched the value of her investments tank in a matter of weeks. She turned to buy and hold tactics instead of flip, and most of her tenants lost their jobs, halting her earnings.
Even in the midst of the downturn, Lee got her real estate license. Feeling that social media presence was important, she turned to every social avenue she had. Lee hopped on Facebook before the curve and her business took off! Brokers and other agents noticed and wanted to know how she was attaining so much business from these platforms. She started training and has kept training ever since.
Dr. Lee’s reasoning for everything in her business is summed up when she says, “the bottom line is that people are the industry… If the eyeballs are on Instagram, let’s be where they are.”
Davenport teaches four simple steps to creating content:
Everything has to have an image
Have a story that can be connected to
Call to action
Consistency is key! With managing marketing efforts, agents have to set aside time specifically to fulfill these tasks, and must include all four steps in every post. It takes a year to build consistency that will overcome the roller coaster of the market and create consistency in a single business. Lee and Grant agree that buying leads can save time against that year, especially in a market where an agent is fresh and does not have a sphere.
Alongside consistency and patience, Lee teaches one more principle. She tells agents to hustle in the short run and prepare for those economic downturns that come every decade.