Wayne and Lynn Morgan, co-owners of the Austin Institute of Real Estate, purchased the school in July 1989. Using their experience and expertise in real estate sales, management and training, they became owners who understood what agents needed to be successful in the business because they personally listed and sold properties, managed a large real estate office, both became brokers and also invested in real estate. So they just didn’t talk about real estate. They have actual experience in many aspects of real estate.
They realized that the Texas Real Estate Commission requires agents to learn the technical information about real estate, i.e. Principles of real estate, contracts and agency, which are very important; however, buyers and sellers require you to have an additional set of skills. Sellers and buyers are not as concerned about you knowing the difference between accretion and erosion, or the difference between condemnation and eminent domain. Sellers want to know how you are going to market their property, can you negotiate on their behalf and are you worth the commission you charge.
Knowing this, Wayne and Lynn initially worked in their business, creating and teaching courses that would help agents be a success in the business rather than just helping them pass the State Examination. The Austin Institute of Real Estate became more than just a licensing school. It became the Business School for Real Estate Pros and from its inception taught classes for the professional development of its students.
