Considering the recent economic climate, the real estate business can be a very stormy environment in which to work. However, Candace Adams, president, Prudential Connecticut Realty, has managed to successfully weather the ups and downs of the industry for more than 20 years.
Her secret strategy for such longevity? Bringing integrity and values into every relationship.
Adams studied accounting and business management, including real estate, at a local community college and the University of Hartford. But she decided to pursue a real estate career based on personal experiences.
At the time, Adams’ children were young and she began considering entering the real estate field to bridge a gap between parenthood and career. “I thought it would be a good career to blend with being a mom,” she said.
Little did she know how good a career move it would turn out to be.
When she sold her first house, Adams was hooked. For two years she worked as a sales executive, and soon became a partner in a 55-person, two-office real estate business, which was eventually sold to Prudential Connecticut Realty.
Stay The Course
During her 13-year tenure at Prudential, Adams has worked as sales manager, regional manager, chief operating officer and now, as president.
While she has enjoyed the ride, the 2008 downturn in the market forced her to adapt and exercise flexibility.
“I immediately stayed the course and focused on the basics of business,” she said. “The strategy was simple – cut costs, attempt to build market share and grow revenue. The company maintained an infrastructure that would support clients.”
This strategy paid off. The company employs 150, and has 1,600 sales executives with 50 offices in Connecticut and one in Rhode Island. Prudential Connecticut’s current sales exceed $3.3 billion.
“Real estate is hard work, but it’s not complicated,” Adams said. “You have to have a system of checks and balances. I’m proud that I have had a part in the growth of a company that has a strong foundation and adheres to values and integrity.”
Moreover, Adams credits the entire Prudential team for successfully riding the economic roller coaster.
“Everyone in the company marches to the same drum,” she said. “All of our team members maintain integrity in both internal and external services.”
Strong Connection To Clients
Two decades in real estate has not dampened Adams’ enthusiasm for the business.
“I found success in the real estate business because I love what I do. I feel a very strong connection to clients and customers as they go through the largest transaction of their lives,” she said. “It’s an intimate business. You need to keep clients at the core of your focus.”
Adams foresees an exciting, but challenging future for the real estate industry.
“We need to focus on shifting business models and, at the same time, adopt new technology and innovation,” she said, noting that this strategy will enable those in real estate to survive whatever turbulence lies ahead.