NB|AZ helps local real estate company enjoy exponential growth
By Debra Gelbart
Allison-Shelton Real Estate Services manages 15,000 units in 85 apartment communities in four states. Through decades of doing business, co-owners Vicki Allison, Pam Shelton and Tom Shelton have found their bank to be an especially valued partner during challenging economic times.
“Over the years, National Bank of Arizona has really helped us through the rough patches with the economy or the ups and downs of the real estate industry,” said Allison, a Phoenix native. The company has been banking with NB|AZ since 1991 and has had the same banker, Ken Kellaney, for all 23 years. “NB|AZ has made it so easy for our staff at the various apartment communities we manage to deposit rent payments into their bank account right from their office, instead of having to make a trip to the bank,” Allison said.
National Bank of Arizona has helped the company grow as well. When the business started in 1984 two years before Allison joined, it had four employees. Today, it has 340. “Our reputation and longevity in the marketplace have allowed us to attract and keep fantastic employees,” Pam Shelton said, “without whom we couldn’t have grown and prospered as we have. Being flexible and proactive allows our company to prosper even when the real estate markets have their downturns,” she said, adding that the company does a lot to empower employees. “We take their education and growth very seriously,” she said, “so we can help them continue to be successful.”
The three owners agree that Arizona is a great place to build a business. “The environment here is very business-friendly,” Tom Shelton said. “And compared to other places in the country, real estate and the cost of living are still affordable. What’s especially nice about our niche as property managers is that because we’re not owners or general contractors, our business doesn’t change very much. So though the economy has fluctuated, we’ve always been pretty resilient.”