HOGAN SCHOOL OF REAL ESTATE, INC.
The decision was made! I had sold homes for two years and taught real estate
for one. I wanted my own business, so opening a real estate school was a natural
for someone with a BS degree in Geology. Wasn't it?
I needed a location! I remember driving Tucson's major streets at 10 mph looking
for "Space Available" signs. No luck! But on Friday the 13th, my mail said that
Pima Mortgage was moving. I knew their space was just right. It was, and I could
have all 600 square feet of it! That's enough for an office, classroom, restroom
and storage area. Wasn't it?
I needed a license! In those days, real estate schools were licensed by the Arizona
Board of Private and Technical Schools. The application was a cinch but the $10,000
bond wasn't. I had to go before the entire board in Phoenix, two of whose members
had the biggest schools in Tucson: That would be no problem. Would it?
I needed students! I could meet my overhead and bring home enough bacon with
30 students per month. I would teach both day and night classes to keep costs
down. The first night class had four students and the day class two. The next
month enrollment halved. Two in the evening and one in the morning. In December
we had no students. But one did come in and prepay for class in January. Two
days later he called to withdraw because the book looked too hard. I couldn't'
let him drop! I'd already spent his tuition. After 45 minutes on the phone, I
finally eased his fears. Decreasing enrollment indicates success. Doesn't it?
I needed therapy! I know I was a good teacher but was I a good businessman? I
knew that brokers would refer students, but I feared contacting and meeting the
brokers. That was all too much for a 27-year-old to handle. Wasn't it?
Business continued to grow and in 1976 we moved to our current location. 1986
brought the Tax Reform Act and from 1987 to 1991, half of Tucson was bankrupt
or moved to California, or both. We survived the storm.
In 1994/5 we were one of the co-founders of Realty U and have grown to the largest
school is Southern Arizona. We have expanded our market offering designation
programs through Arizona, California and Hawaii. In September 2005 we will open
our second Tucson location.
32 years and just beginning, aren't we??
To visit their website go to www.hoganschool.com
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