Billion-Dollar Smile

Linda Sherrer's first real estate transaction left her petrified.

The president and CEO of Prudential Network Realty in Jacksonville was a Navy wife at the time, living in Hawaii. She and her first husband had bought a house there for $30,000. Two years later, they were selling it for $60,500.

Thrilled by the profit but "petrified that I was signing my life away" on the plethora of documents, Sherrer vowed never to be that vulnerable again. She set out to learn all she could about the real estate profession-and succeeded.

Starting as a part-time real estate agent, Sherrer, 60, now leads one of the largest real estate companies in the region, which closed out 2005 with more than $1 billion in sales.

"I never dreamed I would have my own company when I started," Sherrer says from her memento-filled office in Southpoint. "I just wanted to help other Navy families in the same position to get a leg up. Once I got stateside, I took some real estate classes and found that I just loved it."

Sherrer, who was raised in Coral Gables, arrived in Jacksonville from Japan in 1979 and soon began working for Watson Realty. She quickly carved out a niche by working primarily with Navy families.

After four years, Sherrer moved into the position of corporate vice president and director of relocation at Watson, eventually handling high-profile projects such as the Mayo Clinic's move to Jacksonville.

But the travel-intensive schedule kept her away from her two teenage daughters, so when Herb Peyton of Gate Petroleum offered her the position of marketing director for his new development, Epping Forest, in 1984, Sherrer was ready to enter a new phase in her career.

She soon found that her new job not only allowed her to work more structured hours, but also gave her the opportunity to make connections that would help her launch Prudential Network Realty's local operation.

In 1988, Prudential entered the residential real estate market and began quietly searching high-growth areas for top professionals interested in spearheading regional franchises.

After Prudential approached Sherrer, she turned to her longtime friends and former clients, Tom and Betty Petway, for the initial investment money and business advice. Petway is chairman and CEO of Zurich Insurance Services and an original investor in the Jacksonville Jaguars NFL franchise.

Later in 1988, Sherrer's Prudential Network Realty became one of the four founding offices of the Prudential Real Estate division.

"It was a fantastic opportunity," Sherrer recalls.

With plenty of long hours and hard work, that opportunity has paid off handsomely. Prudential Network Realty has gone from three agents working out of a model home's garage to more than 325 agents in seven branch offices and six sales offices at new developments for which the company is the exclusive sales agent.

Sherrer's firm has consistently ranked as one of the top 40 Prudential Real Estate affiliates nationwide, and Sherrer was named National Broker of the Year in 1998.

In the years since her company's inception, Sherrer has secured her company's reputation, and her own, as one of Jacksonville's most respected business leaders.

"The whole reason for starting this company was to raise the level of professionalism in real estate," Sherrer explains. "And to this day, that's still my battle cry for this company."

In 2005, Sherrer continued to pursue that goal during her tenure as president of the Northeast Florida Association of Realtors. Dubbing the theme of her yearlong term "the art of professionalism," she continued to encourage local real estate agents to "raise the bar" by increasing their involvement in community affairs.

"Real estate is a full-time career now," says Sherrer. "It's no longer a job ladies do in the afternoon after tennis and tea. You're handling the largest and most important purchase that most people make in a lifetime. One mistake can be financially crippling for a family for years to come."

Kay Seitzinger, current president of NEFAR, says Sherrer and her company are great examples of the new level of professionalism being achieved by real estate agents.

"Linda's quiet confidence and grace while in positions of leadership definitely serve as a role model for all women-whether in real estate or any other profession," says Seitzinger.

Sherrer's pursuit of excellence extends well beyond the realm of real estate. Whether she's kayaking with friends on the St. Johns River or volunteering with business and charitable organizations, she gives it her all.

"I want to make a positive impact on every facet of the Jacksonville community," says Sherrer.

She's currently serving as chairman of the Jacksonville branch of the Federal Reserve Bank of Atlanta. Appointed in 2004, Sherrer provides insight about the North Florida economy to district Fed officials, who use it in making recommendations about possible changes in the discount rate for loans. Her term as chairman will expire at the end of this year.

Sherrer also is on the boards of the Florida Association of Realtors and the Jacksonville Women's Network, an organization for businesswomen in the community. In addition, she has served on the board of trustees for the Jacksonville Chamber of Commerce and was appointed by Gov. Jeb Bush to the Jacksonville International Airport Authority.

And you may call her "Commodore Sherrer." She holds the distinction of serving as the first woman commodore at Epping Forest Yacht Club, a prestigious private club off San Jose Boulevard.

A warm person with a quick wit, Sherrer also has a keen sense of mission and a knack for organization.

Arnold Tritt, executive vice president of the Northeast Florida Builders Association, worked with Sherrer when she chaired the NEFBA 2004 Annual Gala.

"She is a gracious lady to be around and a great person to work with," Tritt says. "For the gala, everything down to the last detail was perfect. It's not hard to see why Linda's so successful at everything she does."

Her charitable activities run the gamut, from serving on the board of the I.M. Sulzbacher Center, which provides shelter, meals and clothing to the homeless, to providing backpacks loaded with school supplies to underprivileged children. The backpack effort is a companywide project for Prudential Network Realty and a favorite of Sherrer's.

She and her colleagues also take hammers in hand for Habijax's Habitat for Humanity, NEFBA's Builders Care and NEFAR's Ramp It Up!, which provides wheelchair ramps to qualified participants who are homebound because their homes lack access ramps.

In 2002, Prudential Network Realty funded and built two Habitat homes in honor of Sherrer's late husband, Arthur "Chick" Sherrer, who co-founded Touchdown Jacksonville, the underdog campaign that brought professional football to the city.

Impressive as Sherrer's business accomplishments and charitable activities are, she works equally hard to maintain a balance between her professional and her private life. In 2002, she even found a way to mix the two, when daughter Christy Budnick joined the staff of Prudential Network Realty.

Budnick spent five years as vice president of sales and leadership training at Bank of America. Now executive vice president of the real estate sales department at her mother's company, she oversees growth in all the offices.

"It has been a great learning experience working with my mother," says Budnick, 37. "She raised us to believe we could accomplish anything we wanted."

Sherrer's other daughter, Kim Chanin, 33, lives in Colorado and is an independent art broker. Chanin recently gave Sherrer another distinguished title to add to her list: grandmother. Twins Holland and Will Chanin were born in October 2005.

"We work so hard and are so good to our clients," Sherrer says, "that sometimes we forget about our own lives. But it's so important to devote time to our families and ourselves. It really is the thing that keeps us going."

And keeping going is exactly what Sherrer has in mind. After launching an e-commerce department in 2005, Prudential Network Realty seems poised to tap into the Internet real estate market. That expansion is one reason Sherrer is anticipating that her company's sales volume will top $1.27 billion in 2006.

On a personal note, Sherrer is looking forward to more kayaking jaunts as well as spending time with her grandchildren. And she recently took on yet another challenge: She began snow skiing again after a 25-year break.

"I just enjoy what I do so much," Sherrer says, "I can't wait to get in here every day. I really feel that the longer you're in it, the better you get."

RAMP IT UP

For more information about Ramp It Up!, a program that installs wheelchair ramps for the homebound, please contact Sandy Holdren, Community Affairs Task Force Chairman for the Northeast Florida Association of Realtors, at (904) 545-2888.