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Richard C. Phipps
Richard C. Phipps
Title: CEO, CFS Realty
Age: 65
Experience: 30 years
Richard Phipps moved to Boston from Barbados at the age of 20 in the early ’70s. After two tours in the Air Force he started working in finance and later, real estate. He came back to Boston in the mid-’80s and got involved in all things real estate. The father of nine was recognized by Barbados with a Jubilee Award in January for blending business, family and spirituality in a way that retains family values. Phipps runs a real estate agency, a real estate school and a real estate counseling business from his Roslindale office. When he’s not in the office, he can often be found in Oasis on Hyde Park Avenue feasting on Barbadian rice and peas.
Q: Have you always sold real estate?
A: I came here, as most immigrants do, to acquire a great education and go back and run the country. However, that thought was derailed by an Air Force recruiter who told my mother if I joined, he could get me into Harvard. She got all excited and I listened to her and that’s how I would up in the Air Force. Later, we found out he didn’t have the authority to get me into Harvard, it was just a good line to get me to join.
I served two terms in the Air Force. While I was in the Air Force I developed an interest in real estate and finance. In 1977, I started working in finance in Las Vegas with Waddell & Reed. I started with Art Williams, a former football coach who went into finance. I’m still trying to figure out where I went wrong, because he’s now a billionaire and I’m still working.
I bought a house in 1978 in Las Vegas and sold it a year later and realized the profit I made on that house was more than I made working all year. I got excited about the possibilities and that was the beginning. I got the real estate bug. I stayed in Las Vegas for a few years developing a business that continues to this day. I still work between Las Vegas and Boston. I got my real estate license in Boston in 1985 or 1986, I believe, and I never looked back.
Q: What made you want to go out on your own?
A: I started working for an agency that later closed. Then I went to Agatha Marple on Geneva Avenue. I stayed there for a couple of years and saw the need to create my own agency, which I did shortly thereafter. The interests of the community were not being served the way I thought they should be. The focus was more on profits than service. Sometimes the clients needed more help understanding credit, getting credit issues resolved, and we were encouraged to pursue clients that were ready to buy instead of spending time getting somebody ready.
Profits are important, but understanding the wealth development process as I did from my previous career, I really felt the need to do something that would lift everybody instead of just helping a few people. I wanted to enable people in the community, but the advertising dollars were being spent outside the community. So, I got my broker’s license and started CFS Realty.
Q: How did you get involved in the National Association of Real Estate Brokers (NAREB)?
A: In 1988, a gentleman by the name of George Guscott introduced me to the organization. I went to a national conference, and joined the organization because it was aligned with the things I wanted to do. I believe in housing for all, so I joined. Shortly thereafter, they provided me the opportunity to lead the local organization, the Boston chapter, which I did for several years. Later I was asked to serve on the national board and function as regional vice president for the New England states. It has been a unique learning experience in terms of understanding the industry and knowing who the players are.
Q: Does NAREB compete or conflict with the NAR?
A: In 1947, when black Americans were returning from the war and wanting to buy homes, there was redlining and the obstacles to housing were great. Law ingrained in the process allowed for discrimination, keeping black people out of certain neighborhoods. As a result, some folks decided to get together in Tampa to create the National Association of Real Estate Brokers as an alternative option for professional development. Now they’re the oldest black trade association in the United States.
When President Clinton came out with his homeownership initiative, the two groups became very conflicted. NAR jumped out with its 98,000 members, but very few people of color were in a position of power to do anything. NAR claimed to be the voice of black America with no black people in leadership. NAREB said, “Listen, we’ve been here. We’re working every day, doing the grunt work.” It was what would I call a modest misinterpretation of positions.
Q: Is being blind a major impediment to selling real estate?
A: It would be for some people. I can’t see anything as the result of complications from glaucoma surgeries in my 40s. I have some light perception in one eye, that’s it. I still get out and show houses. I tell clients who don’t know me when we’re on the phone, “I have some challenges driving at the moment. I hope you don’t mind driving.” When they meet me for the showing I ask them if they would prefer driving and when they see my eyes, they never mind driving [laughs]!
When I show a house, I tell them what to expect. There are a lot of things you can tell by touch. I get feedback from them and from the owners. They get a level of comfort by talking. I do more listening than anything else. I find out their concerns as we go through.
Phipp’s Five Favorite Things:
- Listening to country music
- Sports – especially close games
- Food – especially Caribbean food
- Listening to standup comedy
- Hearing people’s stories
