Female Founders: Michele Velcheck
The next installment of the Female Founders series on Union Street Media’s YouTube channel features Michele Velcheck, Founder and CEO of Solid Source Real Estate Companies. Solid Source Real Estate Companies saw extraordinary growth within five years, expanding their firm to over 2,000 real estate agents. Click the video above to watch the full interview.
Velchek’s interest in real estate started from a late night infomercial. Within eight weeks of watching it, Velcheck had three rental properties.
Decades later, Velcheck is a leader in real estate and says, “I still love houses. I love it, but I also love helping people.” Velcheck is passionate about the ever changing nature of the industry. “It always stays interesting,” says Velcheck, adding it’s “new all the time.” Whether it’s helping her agents spend more time with family, or making them more money, the challenges and opportunities she faces are constantly evolving and fuel her love of what she does.
“Being in this position is such an honor. To be able to help people whether they love houses in real estate, or whether they’re just thinking about a new career.”
Velcheck started Solid Source Real Estate Companies on the side, while working as a mortgage broker and juggling being a single mom. She remained at her mortgage job for a year and a half before stepping out to proceed with her 50 agents working for Solid Source Real Estate Companies. Advice she gives to beginning entrepreneurs is, “don’t quit your day job unless you have to,” it’s possible to continue working part-time until the foundation is built.
Velcheck’s early days in high school contributed to her immense motivation and determination to succeed. Velcheck’s dedication to her work is rooted in her belief that, “if you’re willing to work harder and give up discretionary time,” then that is how you will find success.
“That’s how I did it, work, work, and more work. I think starting that pace early was good, but it’s not too late.”
Implementing digital technology in 2006 contributed to Solid Source Real Estate Companies success today. Going paperless and having technology already in place, reduced the impact of COVID-19, making it easier for their company to adapt.
The software they transitioned to allows their phone systems to run through their cell phones and computers. This alleviated stress of the pandemic and being out of the office because these programs were previously put in place. In light of the devastating events, Velcheck has seen a large growth spurt at Solid Source Real Estate Companies, and for that they’re very thankful.
“We’ve just been so thankful. Thankful that we were doing it anyway, and just thankful for our growth.”
Having open-mindedness and researching beyond the real estate industry is what can help lead to new successes. If something is intuitive and easy-to-use, Velcheck’s first thought is, “how can I roll that into what we’re doing,” to make tasks easier for her agents. With redundancy in agents work, innovating from research and learning, helps to reduce that redundancy and make agents more efficient.
Velcheck attributes the company’s success over the years to word-of-mouth exposure. With no recruiting department, agents and clients’ positive experiences are what stimulates growth. Having a non-competing full time staff of agents, allows for strict focus on growing each individual agents business.
“We’ve never wanted people to feel that our attention, or how much we’ll help you, is based on a quota, or your numbers, and that’s just not how we see you.”
Giving back to the community is a part of Velcheck’s mission at Solid Source Real Estate Companies. She loves giving back and finds value in, “being involved with people that cannot provide for themselves and do not have the opportunities,” as a way of giving back.
Advice to her younger self has a similar outlook. While it’s important to give back to others, give back to yourself. Velcheck’s advice is to read, research, and learn early and practice self-care. Velcheck states self-care, “is not selfish, it is required,” with many not realizing the “erosion it has on self esteem and how it will affect you.”
You can learn more about Michele Velcheck and Solid Source Real Estate Companies on their website: https://www.solidsource.com/