After 50 years of blazing a trail for women in real estate, a Hampton Roads magnate retires
Deborah Stearns' desire to get involved in sales started as a preteen accompanying her mother on calls and helping her package Avon orders for delivery.
'I credit her with my sales acumen,' Stearns said.
While societal limitations on women in the 1970s almost thwarted that goal, an icon in the industry not only believed in her potential but gave her a chance. Her sheer drive, motivation and willingness to seek opportunities — even when she didn't feel fully prepared for them — guided her way.
Becky Vega, Stearns' executive assistant of 39 years, is her right hand, best friend and a huge part of her career, she said.
Plus, she has always had the loving support of her husband of 52 years.
Now, she is hanging up her hat after a 50-year career toiling — and excelling — in Hampton Roads' commercial real estate industry.
Born in Portsmouth and raised in Norfolk, Stearns is about as local as they come.
In 1974, at the age of 19, she was working as a secretary at an insurance company in Norfolk. Eager to get into sales, she went to the general agent to ask about getting her sales license.
'He looked across the desk at me and said, 'I would never promote a secretary,'' she recalled. 'I said to myself, good to know.'
So Stearns sought other opportunities, and a big one presented itself.
She interviewed with Bob Stanton, the then-recently named president of Goodman Segar Hogan, the market's largest commercial real estate company at the time.
Stanton hired Stearns, and she persuaded him to let her try selling houses in Norfolk's Ghent Square, even offering to work for half the pay of residential agents.
On nights and weekends, she worked diligently, selling every single home they built, Stearns said.
'I demonstrated that I could close the transaction,' she said.
Impressed by her sales savvy, Stanton told her if she completed her degree, he'd give her a shot to go into sales.
Switching her major from English to finance at Old Dominion University — while working fulltime — Stearns earned her bachelors degree in business administration. In 1979, Stearns began her work as an office leasing agent with Goodman Segar Hogan.
'It was just a great opportunity,' she said. 'Bob was a lifelong mentor, a client after he was in business for himself, and we remained friends until he passed away two years ago.'
'It's a fascinating, captivating industry, and I fell in love with the business immediately,' she said.
She would accompany Stanton to meetings as his executive assistant and watched, listened and observed styles, transactions and negotiations.
At its core, Stearns said, much about sales equates to the importance of relationships and professionalism.
In 1986, she switched to development, working for Rowe Development Co. in Virginia Beach, earning her credentials, building her reputation and making a name for herself.
'There were very few women in the business, but frankly it was more of an opportunity for me than a detriment,' she said.
Clark Baldwin, senior vice president of Harvey Lindsay Commercial Real Estate, recalls meeting Stearns 40 years ago when they worked on opposite sides of the table for a lease transaction.
'I learned then that she was steadfast in representing her client, but always fair minded and professional,' he said.
Stearns spent 10 years as managing director of the Hampton Roads region with Advantis Real Estate Services Co. in Norfolk.
That's where Stephanie Sanker, now senior vice president, S.L. Nusbaum Realty Co., first joined the brokerage side of the industry 25 years ago thanks to Stearns.
'She wanted to encourage more women to be in brokerage, and she's 100% the reason I'm in this industry,' Sanker said. 'She taught me how to be a woman in a man's world.'
When the industry tanked in the early 1990s due to the savings and loan crisis, Stearns found herself back at Goodman Segar Hogan in sales management.
By 1996, the company had merged with Armada Hoffler Real Estate and Stearns became chief operations officer for brokerage and later Hampton Roads regional president.
More mergers and acquisitions followed, she said.
Chris Todd, senior vice president at CBRE, a commercial real estate agency, said Stearns hired him in 1998 and helped him navigate his career.[
Referring to her as an inspiration, Todd also said she was stern – pun intended – and always generous with her knowledge and advice.
'Commercial real estate in this area is in a better spot today with her being in it for the last 50 years,' Todd said.
She spent three years with Harvey Lindsay Commercial Real Estate in Norfolk before landing as senior vice president with JLL in 2013. That's where Stearns delved into the industrial side of the industry.
Calling it a rewarding and stimulating 12 years with JLL, Stearns said 'it was the cherry on the top' of her career.
Gregg Christoffersen, managing director at JLL, said Stearns is fundamentally kind, loves the business, the people in it, and the power of real estate to create enduring value and a sense of place for Norfolk.
Stearns' list of community initiatives is almost as long – if not longer – than her client list.] It includes a city council appointment to the Norfolk Airport Authority and a gubernatorial appointment on the Virginia Port Authority Board.
She held board chair seats for numerous organizations, including Hampton Roads Chamber of Commerce; AAA of Tidewater; Bon Secours Hampton Roads; Town Point Club; and United Way of South Hampton Roads.
Her lengthy list of awards and honors includes Hampton Roads Woman of the Year in 1998; Commercial Real Estate Council, Person of the Year in 2006; Volunteer Hampton Roads' lifetime achievement award for outstanding community service in 2009; and ODU Strome College of Business, legacy honors recipient in 2019.
As Stearns began to slow down her career, she looked at the calendar and noted that June 1 marked 50 years since she started in the business. She decided that would be the date of her retirement.
'You tend to know when it's time,' she said. 'I want to make way for other associates and professionals in the field to move forward.'
But Stearns does not intend to let her license expire, leaving room for other opportunities.
Together with her husband, Dave, Stearns said they plan to travel, golf, garden, read, master more jigsaw puzzles and cook.
'It's been quite a journey; a very engaging and rewarding 50 years,' she said.
Sandra J. Pennecke, 757-652-5836, sandra.pennecke@pilotonline.com
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