HEATHER EWING: The CRE RUNdown
Are you intrigued by Commercial Real Estate? Join Heather Ewing, CCIM each week as she dives into CRE trends, Deals, and Developments throughout Madison, WI. Learn the crucial role of Mindset in CRE and Marathons! Success leaves Clues.
HEATHER EWING: The CRE RUNdown
Ep. 43 Diana Schmidt - From Ironman Dreams to Real Estate Insurance Expertise
Diana Schmidt’s journey from Ironman volunteer to competitor is nothing short of inspiring. Witness the transformation as Diana, principal and consultant of Hausman Group, turns her fear of swimming into a strength with the help of professional coaching. Her story is fueled by a personal challenge and a heartwarming commitment to Blessings in a Backpack, an organization supporting food-insecure children. As Diana balances the demands of rigorous training with her professional and personal life, she reminds us all of the sheer joy and fulfillment that accompany achieving the unimaginable.
Shifting gears, we delve into the ever-evolving complexities of the insurance market, particularly for individuals with real estate portfolios. Explore the impact of natural disasters on insurance rates, repair costs, and labor shortages, while underscoring the vital role of strong industry connections. Join me in reflecting on a career in insurance influenced by an inspiring female figure and discover how dedication and perseverance, akin to endurance sports, fuel professional success. To round out our episode, learn how you can connect with Diana on various platforms, where she is eager to engage and share her insights for mutual growth.
Welcome to Heather Ewing, the CRE Rundown. Today I have a special guest for you. Once again, I have Diana Schmidt with me. She is the principal and consultant of Hausman Group, diana welcome.
Speaker 2:Thank you, heather, I'm so happy to be here.
Speaker 1:Well, I am ecstatic to have you on. As you know, I love talking commercial real estate related realms and, of course, endurance sports, of which, for all of those that are watching, they get to see your shirt, and for those that are listening. What is it? The Ironman, Wisconsin baby. All right, Congratulations to you. What an accomplishment, Thank you. So before we dive into all of the real estate stuff, let's touch on the Ironman. What brought you right? I always say you have to have a why. What was your why in?
Speaker 2:that. So I learned about the Ironman after signing up to volunteer in 2018. And I just saw so many incredible athletes and not just, you know, professional athletes, but just everyday, normal people or people that had challenges. You know, maybe they didn't have their appendages, or maybe they were a fireman wearing all of their you know equipment, and I just thought it was just so inspiring to see all of these people out there, for you know, hours upon hours um doing this and I just made me want to, you know, learn more, and it took a couple of years to get there, but, um, I finally committed, um, in January of this year, that this was going to be my year, and I started training and never really was a bike rider, never was a swimmer, so it was a lot for one year, but it was incredible.
Speaker 1:That is amazing. So, adding on to that, was there a particular conversation with someone? Was there something from your past that you wanted to change here in the present? Was it a future goal, Like what was kind of that pinnacle piece, right, Because you hear about people that are achieving these huge goals, which the Ironman obviously is in my book. That's a huge, high caliber event. Takes a ton of discipline, mindset physicality. Takes a ton of discipline, mindset, physicality, everything.
Speaker 2:Was there one certain thing per se or was it kind of like a lineup of different items? It was a lineup, so I started to just educate myself and learn more about the race and there's so many people in the business community that do these races and maybe it's not the Ironman, but they do. You know other triathlons or marathons and it's just incredible to see and meet these people. And so I just learned so much about it and I know that the Ironman is, you know, it's like 1% of the population or less. You know, is our Ironman and I'm like I'm it, like that's me. I want to be the best there is now. I'm not going to be a podium finisher. You know I'm not.
Speaker 2:It's not that never say never at it but I just thought I'm constantly challenging myself to be a better person and it's really me against. You know, it was my race to run. I didn't. I wasn't trying to be um anybody out there, I just wanted to finish and do it for my kids and my husband and um for myself. Really, um, I did. I did tie it to a fundraiser, so I'm on the board for blessings in a backpack and it's an incredible group and so I just kind of made it a little more personal with with those children we support, to be like I'm. I'm not just doing this for me, but I want to bring all of them the 11,000 kids in Waukesha County that have food insecurity across the finish line with me and and just used it as a platform to advocate. So that was. That was really meaningful too.
Speaker 1:Oh, definitely. Yeah, it's a completely another dimension to it. So, again, taking a step back, what would you say was your biggest fear? Going into it and also, upon completion of crossing that finish line and everything kind of distilling what would you say was your greatest triumph?
Speaker 2:everything kind of distilling. What would you say was your greatest triumph. So I my biggest fear initially was the swim and I had never swam, you know just for fun, really, with my kids and never swam laps or anything.
Speaker 2:So I mean, it was really starting from scratch and I was fearful of it, right Of actually like people die in the swim and like things happen, and um, I worked really hard at it. I set a goal. I knew I could do it, um, but I started swimming with a professional coach, um a swim team, um tri-faster, and they're amazing and they just they helped me learn how to swim efficiently and correctly and to have confidence and I'd actually turned into probably my biggest strength in the whole race, which I would have never imagined that when I started.
Speaker 1:Well, and to your point, Diana, that's one of the really neat things I think about endurance sports or also when we decide on that big goal, is that you don't know what you're capable of until you're really thrown into it. And kudos to you for getting the professional coach and things of that nature. Because you hear for some reason, with the Ironman especially, that some of the people just go in of they're going to do their own training, they're going to do their own training. And my heart goes out because for so many hours and you just think of, you get one body and you want to maximize it and also try to have some fun along the way.
Speaker 2:You know, as you're out there for all those hours right, well, and I knew that I had to balance a lot right. Some people say you know what did you have to give up for this? And I just looked at it as an investment in me. I needed to know that I could still be the best wife, the best mom, the best advisor to my clients, so I wanted to make sure that I used my time wisely too, and trained to be able to finish the race. Oh definitely.
Speaker 2:Yeah, it was really helpful to have a coach that really knew how to do it.
Speaker 1:And I agree, I think it's. You know it's interesting and marathons are a much shorter training duration and also the competition itself. But it's interesting and I'm sure you heard this over and over of when do you find the time to train? And to your point it is giving up certain things. What are a few things that you had to give up over the? What was it? A nine month training plan, eight, nine months?
Speaker 2:it was about. I started in January of yep this year. Uh, I would say I mean I gave up sleeping in and I wasn't. I didn't sleep in, you know, late before, but it was, you know, 4, 4, 30 am, wake up calls to go swimming and in January and February in Wisconsin, right, like who wants to go do that. But I just made sure that every day I did what I was supposed to do and I prioritized it in the morning if I could, because there's not a lot of people that need me at four in the morning. You know it's kind of like time that I could give to the training. So I did a lot of it as early as I could so that I didn't have to give up stuff with the family or work and things like that.
Speaker 1:Yeah no, that's great. So now that you've completed this, how would you say it translates into career?
Speaker 2:I think that it just it opened my eyes. I had no idea I thought I just wanted to finish the Ironman when I started. Right, I just wanted to do the race, but everything I learned along the way about how strong my mind is and how I can do hard things just translates in business. It's just incredible. So I feel amazing. I've been the healthiest I've probably ever been in my whole life, which is great, adding into mid 40s and you know beyond, because you know we start to kind of most people let themselves go or they start to, you know not care.
Speaker 2:And I want to be healthy. I want I think it's helpful for your mind I want to be healthy. I think it's helpful for your mind to be present and to be able to talk and advise people. So it connects to everything I do for business.
Speaker 1:I agree, and I think also, when you're active in endurance sports whichever one you choose, pick your poison right Is that it really becomes a lifestyle and what might feel like certain things you're giving up over time shift, where you look back on some of the different ways you used to live and they're no longer as interesting or beckoning, if you want to say and I'm a firm believer with you that as we age, it truly is a mindset and what you decide. Because then I think, with those clear, crystal decisions and action, that you either stay physically healthy or you don't. You're either stretching and flexible or you're not. You're either eating clean or you're not, and I think it's too. It's an evolution, it's not an overnight change. When you see the overnight changes, they might last for a couple of weeks or to get you to a certain event, but I think the lifelong choices are, as you had mentioned, having a solid why and then choosing why you want it and deliberately moving forward with that.
Speaker 2:Right yeah.
Speaker 1:I agree, and.
Speaker 2:I think the biggest, the biggest thing I got out of it, too, was I tried to, like I say, advocate for blessings in a backpack, but it had a different reach, and people were reaching out to me not only on behalf of blessings, but also on behalf of their own inspiration, and they would say things like I started working out again Like you're. I saw what you did on Saturday you rode your bike for five hours Like I.
Speaker 2:I didn't do that but, I, you know, but I went for a walk and I you don't know who you're reaching sometimes, and until they tell you and they don't always tell you, so I I that made me feel good when people would reach out and say things like that definitely no, I agree it's.
Speaker 1:It's like you hold that dear to your heart and it's also a a special memory, not only during training and the event, but also it's something that carries with you you know, far beyond that.
Speaker 1:I think people don't realize what an impact we do have on each other through these different types of physical, sports, careers, relationships, otherwise. So it is neat to hear that feedback and realize the positive impact that you're making, not only now, but it ripples forward. So, jumping into real estate, how do you see things shifting with insurance in the real estate? I know different property owners that I represent. They're all like God, this insurance.
Speaker 1:I'm sure you're tired of hearing that you know kind of like lenders with interest rates and things like that. But what are you noticing? Any thoughts also to what we might experience as we come into the cusp of 2025?
Speaker 2:Yeah, no, definitely Real estate and insurance. It's a tough market. It's been a hard market, meaning that it's not a buyer's world. So if you're buying insurance and you have a real estate portfolio, most of the time you're probably getting rate increases, you're getting deductible increases and maybe coverage reductions. A lot of the insurance companies have paid a lot of hail damage claims because of all the storm activity and they don't want to pay to repair, you know, a roof that maybe just had cosmetic damage. So the landscape is shifting and changing. Um, and it's been, you know, year over year over year. Now it's been several years in a row. So it's not like we have a good. Hey, it's almost over, it's not. And the what's happening with the hurricanes impacts w Wisconsin, whether or not we think it should or shouldn't, it will. And it impacts the cost of repairing materials, timing for labor, I mean, it's just everything. So, yeah, it's, it's a tough market right now.
Speaker 1:Yeah. I agree and I think that's going to continue that way. But I think on the positive side is that through collaboration and also the strength of your network and people's networks in general is really going to be a differentiating point for it. So, speaking of that, how do you see relationships tying into insurance and real estate tying into insurance and real estate.
Speaker 2:Relationships are always important in insurance and in real estate and with contractors, right Like it, just everybody can work together to try to make improvements and get things done. If you don't have relationships, I mean it's sure you can probably succeed, but I just think it's important that you're in different groups, different industry, you know groups and involved, because you hear about things, you learn about new solutions that other people are trying and having success with and having success with Right.
Speaker 1:So, speaking of success, what got you into the insurance realm? Was there a pivotal person or, again, maybe just learning about different people's experiences? Was there a particular thing, or kind of like your Ironman, where there was a series of getting to know different factors and it kind of drew you in in that sense?
Speaker 2:to know different factors and it kind of drew you in in that sense. Yeah, that's a great question. So I mean I've been in the industry for about 24 years, so it's been a little while it's been a little while.
Speaker 2:But I just I got into it right after college and I interviewed with a, with a woman at an insurance company and I just saw myself and her that she was successful and she liked it and loved it, and so I gave it a shot and just found a career. There's so much opportunity in insurance, you know, for anybody really. But I just really took to it. I didn't know much about it when I started, so I really dedicated my time to learning and I did insurance designations to get you know up and running quicker, because you have to, you have to have some credibility and when you start out in any job if you don't have any experience or the knowledge, right Right, and you're young, right, and you're young.
Speaker 1:The underpinning of like you better work hard and do it well.
Speaker 2:Right, and at the time, as an underwriter, you're trying to advise agents, insurance agents like myself today and most of the time even back 20 plus years ago. They were mostly older men and you know what were they going to? Listen to? Die 22 year old, you know die who just to listen to, die 22 year old, you know die, who just graduated from college and didn't know anything yet.
Speaker 2:So, um, I joined every insurance, you know association, I could. I got all of the credentials, got a master's degree, I did whatever I thought could help, um, and now it's just paying dividends. I I mean all that time invested back then. You know I was single, I didn't have children. Now it's, you know, it's really helpful in how I advise my clients because I know insurance, I know everything about it, I know what the policy should have on it, I know how to help them control their claims and you know what the underwriter is going to ask you know what problems are going to arise before the underwriter even says it, because I was the underwriter so, and now it's just fun.
Speaker 1:Well, definitely, and I think that's the thing right. And again, here's that common thread between endurance, sports and whether it's real estate or insurance of you just go into it with a clear decision that you're going to be successful and you find the ways and the resources and you put in the sweat, equity and the labor and you invest in yourself and career and other things, invest in yourself and career and other things. And then it's the overnight success, 10, 15 years later, when everything has really been cemented in in a beautiful way and you, you have expertise and so many happy clients and the understanding of the different facets and how they feed together which is integral not only for identifying possible problems that you can avoid them. So you don't even get to that point, which is huge for clients.
Speaker 2:Right, yeah. And going back to relationships having relationships both ways. So with the clients, right, it's really important but also with the underwriters. And having that rapport and the credibility of being an underwriter and having friends all over the carrier side is is helpful too. You just there's instant credibility and they want to help me to succeed, so, which is great, it all works out. But but I do my part for them too. I make sure that you know I'm getting them what they need and making sure the client gets exactly what they need. That's perfect, yeah.
Speaker 1:It seems like a simple recipe, right? But yet you notice that when you look out into the marketplace, not everyone follows it, and that is what it is.
Speaker 1:But we hear a lot about robotics right, ai, all of this and you know, I think sometimes of kind of like scare tactics for industries that they're going to come in and wipe out your you know your arena. I personally don't have that concern in commercial. I think it will help with pulling reports, you know different things of that nature also assisting, but I think, because of the importance of relationships and also some of those different conversations, that it's not going to eliminate us. What are your thoughts for robotics AI in the insurance realm?
Speaker 2:Yeah, I think you're right, there's going to be. We have to learn how to use it because I think it could be really helpful if you're trying to aggregate loss data or, you know, predict some loss modeling. You know what's going to happen next year if they grow. You know their revenues are up, their payrolls are up, their claims are doing this. Absolutely room for improvement there. But I don't think in the larger commercial space those businesses are complex and the business owners are going to want somebody to talk to about their risk and how to mitigate it and what to do after a claim happens. So I don't anticipate. You know, maybe in the smaller commercial space there might be some automation that kind of takes up. You know somebody doesn't want, they want more of a transactional deal and they're comfortable with that. But I don't see, you know, our clients moving in that direction at all Right.
Speaker 1:No, I agree. So I have two final questions for you. One is do you anticipate there will be an Ironman 2?
Speaker 2:you one is do you anticipate there will be an iron man too? Uh, not, not in the near future for sure. I do think triathlon will continue in my future, but probably at a lesser distance and only because you know my 13 year old boy is a great career, like I. You know there's other things that I want to accomplish, but I'll try at the one. We'll still be a part of it.
Speaker 1:Definitely that's great. And my final question for you, diana, is what does living fully mean to you?
Speaker 2:Oh, that's a great question. Um, I think living fully means, you know, to me it's I want a full life with my family, my faith, career and life on my own terms. So I just try to wake up every day and decide you know what? What does today look like? What do I want to accomplish and how do I, how do I show up and be that the best version of myself for all of those people? And that means something different to everybody, right, like the kids need to be a beautiful thing, yeah, so I just I love it, I love what I do.
Speaker 2:I love being an owner at Houseman Group. You know I love being involved in our church, um, volunteering for blessings, like all of those things are are me and what I, what I, what I want to do and what's important.
Speaker 1:So to me, living fully is being able to do all of those things, which is perfect because, at the end of the day, when your heart is full right and you're doing something that you love, you have fulfillment, family, loved ones and are contributing. I would say that is a rich life, right? Yeah, I agree, yeah. Last but not least, diana, how can people connect with you?
Speaker 2:Um, you know what I? I'm on LinkedIn, I'm on Facebook. People could reach out that way, um, or, happy to you know, chat on the phone emails works too, and all of that contact information are on both of those sites.
Speaker 1:Perfect.
Speaker 2:All right.
Speaker 1:Well, thank you so much for joining me today and I look forward to connecting with you soon. Thank you so much Bye.