Lana Kay celebrates 50 years in local real estate
David Gunter Feature Correspondent | Hagadone News Network | UPDATED 11 years, 10 months AGO
SANDPOINT — The walls of Lana Kay Realty are covered with trophies — both the brass plaque variety and the hunting and fishing type. Lana Kay Hanson is responsible for many of them. Her twin sons, Mark and Matthew Linscott, claim credit for the rest.
The three now operate a family real estate business that continues to thrive into its third generation. Lana’s mother, Nonna Sommerfeld, got it all started back in 1952 with Sommerfeld Realty. Following in her mother’s footsteps, she joined the business in 1964.
By that time, however, the young woman already owned several rental properties purchased with money she earned while playing music at weekend dances during high school.
“I grew up in this business,” Hanson said.
Over the course of 50 years that saw her progress from agent to Realtor to owner-broker, Lana Kay has amassed the kind of reputation and name recognition that rivals — in North Idaho, anyway — that of even the largest real estate firms.
Q: Was local real estate something of a ‘boys’ club’ back in 1964?
A. Back then, girls were not supposed to go into a man’s world. When my mom started, she was the first woman in North Idaho to become a real estate agent. So it was a boys’ club. And even when I received my license, it was still a boys’ club.
Q: You opened your own office as Lana Kay Realty in 1980 — do you remember your first day in business?
A. I couldn’t take any of my listings with me, so I ran an ad in the Daily Bee that said ‘opening.’ The first day, I had so many people walking through that door that, by the end of the day, I was still writing listings. I counted over 100 of them.
I also remember my first sale. It was for some people who needed every single dollar they could make from the sale and there was no money left for me to make a commission. So, I told them, ‘OK, I’ll take whatever you have left over.’ I ended up with some railroad ties, barbed wire, a bunch of houseplants and 13 peacocks as my commission. Then I had to go home that night and build a peacock pen! (Laughs)
Q: Is the market entirely different from what it was 50 years ago?
A. Yes and no. Real estate is real estate. It doesn’t matter about the time frame. You’re out there selling a product and there isn’t any more real estate being made — unless you’re in Dubai.
So, when you have a product that is limited in source, the only thing you have to be concerned about is the financing. In 1964, we didn’t have the financing that we do today. In fact, two years prior to that time, you couldn’t get a bank loan unless it was within five miles of Sandpoint.
Q: Have buyers changed over time?
A. No. And the reason I say that is because everybody wants to have a home. I don’t know of anybody who wouldn’t like to own their own home. Right now, because of the way the way the economy has been for the past 8-10 years, we’re seeing a lot of owner-carried contracts coming back — which is exactly what we did back in 1964, when practically everything was that kind of contract.
Q: Has the national media focus on Sandpoint driven a lot more attention?
A. Yes, it has. You have to go back to when Schweitzer Basin first opened up, back in 1963. At that point in time, people were beginning to know what was happening; they were beginning to discover us then. That’s when a lot of California people started moving this direction and they were followed by people from Florida and Texas.
Q: How did that change the market?
They moved this direction because they saw the opportunity to buy property, subdivide it and make money. Where, in the past, the local people would farm the land, grow their crops and raise their livestock.
What I’ve seen from the past to this time has been wonderful, because we have to have a certain amount of people in this community — in this whole area — to sustain the local people. In ‘64, the people who graduated either went into the service or left the area, because they couldn’t make a living here.
Q: What gives a person staying power in this industry?
You have to have a passion for it. You have to love what you do. I don’t feel like I’ve been in the business 50 years. I still love putting the deals together, getting the listings and helping people find their dream homes.
But you can’t be a part-timer in this business — that doesn’t work. Real estate is something that, if you’re not on top of it on a daily basis, you’re going to lose out. If I’m out of here for more than two days in a row, I’m missing something. There’s that many changes in the real estate industry.
Q: How many local real estate agencies were there back in 1964?
I could probably name them. (Laughs) There were only about five offices here in Sandpoint at the time.
Q: Has the influx of national and international firms changed the playing field?
If you’re good at what you do, you’re going to be a success. You don’t have to be a member of a large organization or a large firm. You can have your own little office and, as long as you work hard and do the right thing, you can make it.
Q: Any thoughts of retirement at this point?
Oh, no. I will stay in this business as long as I’m learning something brand new every day. There is so much knowledge to obtain and continuing education all of the time. But the day I don’t learn something new for the day? That’s the day I’ll go out the door.
Q: Your mom brought you into the business, just as you did with your sons, Matthew and Mark. Did they also grow up in the business?
This has always been a family operation and it’s still very much a family business. I used to take Matt and Mark with me when I was showing property, so they knew this country. I dragged them along with me whether they liked it or not. They were watching and working with their grandma and me.
When they graduated, they both got their license and came to work in the business. I couldn’t do this without them. I would be totally lost.
Besides, Mark is my huntin’ buddy and Matt is my fishin’ buddy. (Laughs)
Q: Do you foresee that it will continue into the next generation?
I hope so. Each of my grandchildren have been in this office from the time that they were wee little. They come in after school and I try to make sure that they all learn how to balance books and learn how to write checks and handle money.
My youngest granddaughter is 16 and she comes in here every day after school. If she hears me talking to somebody about a property on the phone, she goes over, gets the listing file and opens it up on my desk.
Any one of them would be capable of coming into this and they all have their dads to teach them, but I want them to do their own thing and be happy. I tell them, ‘Get your real estate license and, if it turns out you want to be a doctor, that’s great. If you want to shovel dirt, that’s great. Just follow your dream.’
•••
An open house to celebrate Lana Kay’s 50 years in real estate will be held on Thursday, Jan. 30, at the Lana Kay Realty office at 105 Pine St., Suite 103.
Coffee and cookies will be provided and the public is invited.
ARTICLES BY DAVID GUNTER FEATURE CORRESPONDENT
Womencare Midwives works with 2nd generation
BONNERS FERRY – When midwife Barbara Rawlings moved from Boise to North Idaho in 1978, she knew some changes would come along with the relocation.
Play to support crisis, domestic violence hotline
BONNERS FERRY – Victims of domestic violence live in a world where threats abound and the chance of escape is overshadowed by the very real prospect of further injury or death.
Haunted House a creepy way to help pets
BONNERS FERRY – The gate opens with a mournful groan as Second Chance Thrift Store manager Ruth Dana guides her visitor onto the grounds of the adjoining animal shelter.