Exploring Life & Business with Mike Ferrante of Mike Team at LPT Realty

Today we’d like to introduce you to Mike Ferrante.

Hi Mike, can you start by introducing yourself? We’d love to learn more about how you got to where you are today?
Although I wasn’t licensed until 2008, I always had an interest in real estate. I bought and rehabbed my first home the year I graduated from college with an MBA from Case Western Reserve University’s Weatherhead School of Management (1991). Prior to Case, I attended Heidelberg College (now University) in Tiffin, OH for my undergrad degree. As a lifelong Clevelander, I wanted to make an impact on local real estate, so I continued buying and renovating homes and buildings.
As the market crashed in 2008, I decided to start part-time in real estate as an agent. I sold 10 homes in 2009, and jumped to 46 in 2010! At the end of 2010, I left my full-time job to pursue a career in real estate.
In 2011, I had more business than I could handle, so I began growing a team, making many mistakes along the way. One regret I have is not getting coaching sooner. Regardless, my team grew, and eventually became a top 10 Mega Team (RealTrends verified) in Ohio.
We recently made a move, after 18 years with the same brokerage, we’re now with an emerging company, LPT Realty–Mike Team.
I still renovate homes, but I have also branched into new construction, having built 2 spec homes and completing 3 new construction homes for clients.

We all face challenges, but looking back would you describe it as a relatively smooth road?
While on the surface, success looked easy, it was definitely a struggle. As I mentioned, I wish I had sought out coaching sooner, but I was self-taught, relying only on the minimal training at my brokerage and company. Hiring was a huge challenge–I learned a lot about hiring the WRONG people!
Another immense challenge was the balancing act of the real estate business with personal life. Real estate is a business that can consume time and put stress on relationships! It has the potential to be liberating and life-changing, but not without its stresses as well.

We’ve been impressed with Mike Team at LPT Realty, but for folks who might not be as familiar, what can you share with them about what you do and what sets you apart from others?
Our mission statement says a lot: To provide a superior, memorable experience so that we are THE team that buyers, sellers, vendors, and other agents WANT to work with! This “brand” has attracted like-minded agents and employees over the years. 5-star ratings are expected!
Our admin team is absolutely amazing, delivering superb service to not only our clients, but also our teammates, so they can focus on what matters most: their clients and their business.
We also pride ourselves on leveraging the most recent tech and tools in our business. Currently, we’re leading the charge on using AI in real estate.
As the business evolves, we embrace it–we don’t resist it.

Let’s talk about our city – what do you love? What do you not love?
Greater Cleveland/Northeast Ohio has much to love. Starting with affordable prices, but also offers so many big-city amenities without some of the big-city challenges. Cleveland has the 2nd largest theater district in the US (only NYC’s is larger). We have Lake Erie, perhaps the best boating and fishing lake in the world, rivers, parks, golf courses, culture, museums, and of course, ethnic neighborhoods that offer a variety of food and experiences.
The surrounding areas offer a huge variety as well. Small town charm? Try Chagrin Falls, Bedford, Hudson. Suburbia with examplary schools? Try Westlake, Solon, Orange, Beachwood. Lakefront living? Try Bay Village, Lakewood, Euclid, and Mentor. Downtown living? Akron and Cleveland have that.
Dislikes are few, but I have seen the city of Cleveland create laws and policies that inhibit growth. There’s so much potential that is still unlocked!

Pricing:

• Median $220k
• Luxury starts in the $600s and $700s
• Still homes under $100k
• Duplexes starting around $100k

Contact Info:

• Website: https://www.21mike.com
• Instagram: https://www.instagram.com/21miketeam/
• Facebook: https://www.facebook.com/21MikeTeam
• LinkedIn: https://www.linkedin.com/in/mike-ferrante-13062210/
• Youtube: https://www.youtube.com/@clevelandrealestate
• Yelp: https://www.yelp.com/biz/mike-ferrante-lpt-realty-solon