Paving the Way

Whether brokering real estate for small businesses or investing in the next generation of women real estate developers, Sheryl Vickers is striving to build stronger communities.

For most, the financial crisis of 2008-2009 was a hard time to be in a commercial real estate brokerage, which is strictly transactional. For Sheryl Vickers, CCIM, owner of commercial real estate firm Select Sites, LLC, it was a low point as a single parent with financial strains and a pipeline of transactions that vaporized when the economy crashed.

This devastating time was the motivation she needed to discover her path to investing. “I was good at identifying great real estate, but after 12 years in the business, I was still trying to make ends meet by being focused on transactions alone. I knew I needed to own income-producing properties and create some steady passive income to stabilize my transactional business, but hadn’t figured out how to do that without any savings or extra funds to invest.

I dedicated the next few years to figuring it out and finding opportunities to move into ownership.” Vickers seized the moment when a corporate store was looking for pad sites to build their stores in the urban core of Kansas City or neighborhoods that are “food deserts.” “I realized if I could buy and assemble small parcels, I could piece together the acre and sell that directly to my client,” Vickers says. “The deal was beneficial for both sides—I would be able to flip the land for profit, and my client wouldn’t risk the deal falling through.” Vickers pulled it off, satisfied her client, secured a return on the investment, and, incredibly, repeated that scenario two more times. “I learned that listening to your gut and being resourceful is an asset in this industry. It also showed me as a tenant rep broker that starting with the tenant is the only way I like to invest. Especially in a difficult or high risk geography, having the tenant first takes a lot of the risk out.”

Since then, Vickers and her team at Select Sites, LLC, have helped over 45 retailers and restaurants, from small businesses to large corporations, secure sites and develop market entry strategies. Ensuring client satisfaction, the firm also guides clients through the design-build process and construction. “Usually, there isn’t an opportunity to purchase the real estate,” says Vickers, “but I still love helping retailers and restaurants grow their brand in the Kansas City market.”

Changing the Industry

Alongside Vickers’ fantastic success is her determination to increase diversity in the industry. “Commercial real estate is difficult to break into, especially for women and minorities who don’t get the opportunity often,” Vickers says. “Tenacity is how I made it through the five years after getting my real estate license. I had to learn through trial and error, a lot of frustrations and difficult years.” Vickers’ experience led her to found Women In Real Estate Development (WIRED) with her friend Audrey Navarro, a trailblazer with her own woman-owned firm. Together they created a mentoring and resource center for commercial brokers, developers, investors, and women actively working towards commercial real estate careers in Kansas City.

“WIRED provides mentorship we didn’t have when we began. I want our legacy to be that half of all properties are owned and developed by women and people of color. We need to intentionally share the insights on how women and minorities can identify and take advantage of opportunities to own and develop commercial real estate,” Vickers concludes. “The playing field needs to open so everybody can have a shot and build wealth for their families. Once the industry is diversified, communities will be built better, and our cities will be a better place.”