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Memo Haslam

Ethan Peery interviewed Cheryl Acker of Utah Key Real Estate to learn about business ownership and real estate brokering. Cheryl started in real estate as a hobby after her children entered school, eventually making it a full-time career. She founded Utah Key Real Estate after feeling her previous brokerage did not provide enough value to clients or high enough commissions. Running a business requires significant financial and emotional resources. Cheryl raised capital from venture capital and family to launch Utah Key Real Estate. She strives to deliver the best client value and experience. Cheryl also works to balance her career with family by having a strict 6:30 pm work cutoff each night to spend time with her children and grandchildren.

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Memo Haslam

Ethan Peery interviewed Cheryl Acker of Utah Key Real Estate to learn about business ownership and real estate brokering. Cheryl started in real estate as a hobby after her children entered school, eventually making it a full-time career. She founded Utah Key Real Estate after feeling her previous brokerage did not provide enough value to clients or high enough commissions. Running a business requires significant financial and emotional resources. Cheryl raised capital from venture capital and family to launch Utah Key Real Estate. She strives to deliver the best client value and experience. Cheryl also works to balance her career with family by having a strict 6:30 pm work cutoff each night to spend time with her children and grandchildren.

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DATE: February 28th, 2020

TO: Doctor Haslam


FROM: Ethan Peery
SUBJECT: Information-Gathering Interview

In order to better understand business ownership as well as real estate brokering I interviewed
Cheyrl Acker of Utah Key Real Estate. This interview took place mid day approximately an hour
before Cheryl had a major meeting with a new incoming client that was looking to purchase a
house through her brokerage. Entering the establishment prior to this meeting allowed me to get
a glimpse of what a professional business owner does to prepare for meeting with a new client.
Cheryl made sure that everything within the Utah Key office building was in order from the
cleanliness of the boardroom to the positioning and attitudes of the employees. Throughout the
interview with Cheryl information concerning the strengths and weaknesses of Real Estate
Brokering and Business ownership was explained in depth. Cheryl Also delved into the process
of balancing her growing professional life and her life as a wife, mother, and grandmother.

Real Estate Brokering


Cheryl's path with Real Estate Brokering had a very interesting start to it. According to Cheryl,
Real Estate Brokering began as a simple hobby that she began taking classes for as soon as her
youngest child entered elementary school. She emphasized that she decided to do Real Estate
over other careers due to her love of interior design and exploration of housing features. After
Cheryl finished her 270 hours of classes she signed on to become a broker at a small scale
brokerage.Overtime, she began to pick up more and more clients and began to receive
promotions within the current brokerage that she was working for. With more responsibilities
becoming tied in with her job as a broker, Cheryl decided that she wanted to take her “hobby” of
brokering to the next level and make brokering a full time career that she would work every day
of the week even on the weekends.

Despite all of the work that Cheryl was putting into brokering she was still not receiving a
significant amount of commision to justify her long hours and tireless work days. Not only was
the system of commision broken at her current broker, but she also felt that the firm had an
obsession with only making money on each sale instead of giving the best value to the
buyer/seller. The lack of care for the client is what drove Cheryl to establish her own firm.

Business Ownership/Founding
Opening up a business is a very taxing task financially as well as emotionally. In order to set up a
firm, Cheryl needed to accumulate enough capital to keep the business functioning for the first
three months as well as enough to purchase a building and incentivize brokers to convert form
their current firms to the newly opened Utah Key Real Estate. Overtime her goal was
accomplished. With the help of her business partner Heather, enough capital was raised through
venture capital and family members to keep the business running for enough time to get them on
the ground and running. After six months many of the brokers from the brokerage Cheryl used to
work with at her past brokerage decided to transfer over to Utah Key Real Estate due to the
environment the new brokerage fostered as well as the higher commision rates offered. Cheryl
said that in order to run any successful business regardless of the industry there is one key to
success that trumps over any tip or trick that is taught in a textbook; in order to run the best
possible business focus on delivering the best value and experience to the client time and time
again. Cheryl stated multiple times that she tries to separate her brokerage from all other
brokerages by striving to offer the best value (high commision and mentorship) to the brokers
that work with her.

Working In the Home Life


For all business owners or even any busy person in general, finding time to spend with loved
ones becomes problematic. Cheryl said that when she was getting into real estate she got so
caught up within the wave of passion that she had that it completely enveloped her life.
However, Cheryl quickly realized that she needed to take a step back and make time for her
family or else there would be grave consequences to follow; she would lose any connection she
had with her children and jeopardize any hope of establishing a future connection with them. She
said that in order to have a presence in the home she created a cut off time for her work every
night. Cheryl said that her cut off time was 6:30 and as soon as the clock struck this time she was
done with work and became a mother again. According to her this system worked very well as
she still has a thriving marriage and is greatly involved in the lives of her children and
grandchildren.

Interview Analysis
I really enjoyed interviewing Cheryl. Looking back at the time I had with her I noticed how
excellent she was at communicating. Throughout the entirety of the interview Cheryl exhibited
excellent eye contact and I was able to mirror her non-verbal styles of communication in order to
establish a better bond of trust with her. The interview was perfect with all answers answered as
well as extra ones that were asked as secondary questions or even tertiary questions. Overall, I
was able to gain an abundance of information about the ups and downs of the Real Estate
industry, how business ownership is an excellent career pursuit that benefits multiple parties, and
finally how to balance a rigorous work schedule with a bustling home life. It was a pleasure to
interview Cheryl and gain insight on her career life and acquire information about a possible
career opportunity within my future.

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