“‘He must be broke!’ That was the funniest shit right there!”
It’s funny to him because he knows what’s in his bank account. But what would your reaction have been if you got an e-mail blast that read, “Ronald Boyd DeVoe, Jr.: A ‘New Edition’ to Re/Max Westside,” and featured a picture of a babyfaced real estate agent bearing an almost uncanny resemblance to a musical legend you probably grew up listening to?
You’d have questions, too.
“People were like, ‘Hey, he’s gotta be broke – How does he go from New Edition to a Re/Max real estate agent?’,” laughs Mr. DeVoe, better known in musical circles as “Ronnie” from iconic 80s boy band New Edition and 90s hit machine BellBivDeVoe (BBD), and in the real estate field simply as “Ron,” head of DeVoe Broker Associates. “If it wasn’t that, it was, ‘He can’t be serious’ or ‘He doesn’t know what he’s doin’ – he’s been singin’ and dancin’ his whole life!’”
Skeptics may be surprised to know that Ron does indeed know what he’s doing, and that he had a jones for the real estate game before New Edition ever sang and danced together. “It had been a passion of mine for a while. I had taken some drafting and architecture courses and got really excited,” he explains. “I was thinking I could be the next big thing – designing malls, skyscrapers and all the above. Before long, though, ‘Candy Girl’ came out and it was off to the races.”
That was 1983.
Fast forward 13 years or so. New Edition’s legacy is cemented, their troubled but still successful reunion tour, 1996’s Home Again, had just wrapped up and as each of the members started going their respective ways, Ron was forced to decide what else he wanted to be known for.
While unsure at the time what his new undertaking would be, he knew exactly what it wouldn’t. “I contemplated a couple things, but I didn’t really wanna do the entertainment thing,” he says. “I dabbled in a lil’ something just ‘cause that’s what I had done for so long, but that wasn’t really my passion [at the time].” Instead of seeking something new to get into, Ron rekindled his romance with real estate and started soaking up game from friends in the business. After interrogating everyone he could about real estate, Ron decided to go all the way in.
“I needed a fresh start,” he remembers of his decision to take the dive. “Couldn’t get it done in L.A. anymore, so I looked at Atlanta. [In Atlanta] you’ve got music, you got nightlife, you got a really good energy and you got Black people just doing well for themselves. So at the end of 2001 I came to Atlanta with the intent of establishing myself outside of New Edition and the music industry.”
While investing in some apartment complexes in Atlanta’s Vine City area, Ron met a real estate agent who opened his eyes to how easily he could get deeper into the game. “She told me that with less than a thousand dollars and less than a month-and-a-half’s time I could have my real estate license, too, and I was like, ‘What?!? Man, this is perfect!’ The ball started rolling from there and I was able to gravitate back to a passion of mine.”
So, in 2002, Ron DeVoe earned his license from Re/Max and hit the Atlanta market a 35-year-old real estate rookie.
By 2006, Ron felt he’d learned enough to go out on his own. He did give the music biz one more shot in 2004, though, when New Edition signed with Bad Boy and released an album titled One Love, but the album’s underwhelming performance and a falling out with Puff just strengthened Ron’s desire to delve further into real estate.
DeVoe Broker Associates (DBA) opened its doors in August of 2006, providing various services and operating strictly in residential real estate until expanding into the commercial realm in December of the following year. “In the first year of business you’re learning a whole lot. We’ve had our lil’ bumps and bruises as a new company, but we’re poised and set up now to do all the things we’re supposed to do,” Ron assures.
Today, DBA is a full-service firm, and though they’ve already earned over $25 million in just over a year of existence, according to Ron, the sky’s the limit. “I’m trying to get DBA on the level of a Re/Max, Keller Williams or Century 21, but I also want to get more into the development side,” like Magic Johnson, whose properties range from Starbuck’s franchises and movie theatres to hotels. “[Magic] is almost like a venture capitalist – he’s all over the place.”
Ron & His Business Partner, Marvetta Bozeman
The life of a real estate CEO is a good one, but Ron will be quick to tell you that he can’t leave the stage alone – not only because he’s still in love with it, but because it helps his business and continues to fatten his pockets. “We’re still making great money as far as BBD and New Edition are concerned. Music is still my bread and butter, but I’m sure there’s gonna be a transition at some point ‘cause real estate is incredible. There’s a slight dip [in the real estate industry] right now, so it’s good I’m still making money on the other side of the fence that affords me to maintain while the industry’s going through these hard times. Plus, my notoriety on the music side helps us attract business and quality employees, so everything’s good.”
Outside of the American Music Award, Boston Music Award and congratulatory plaque from Atlanta mayor Shirley Franklin that share a stand next to the door in Ron’s office, there are really no reminders that DBA is led by a man on his 25th successful year in the entertainment industry. Which begs the question, which hustle does Ron prefer?
“Walkin’ a first-time homebuyer through the process, gettin’ em to the closing table to sign their papers and handing them the keys to their first house? That’s an incredible feeling right there. That’s one of the reasons I got in the game.”
But…
“There’s nothing like gettin’ onstage knowing you got thousands of fans in the audience that grew up on your music, you know? As long as people wanna show up and have a good time for a couple hours, I’m onstage – with a cane or whatever (laughs).”
I guess when your primary and side hustles are going so well, there’s no need to choose.
As for those initial skeptics, Ron appreciates them all. “I should’ve put a quote from one of those [‘must be broke’] e-mails on the wall or somethin’, ‘cause that’s motivation right there! Like, do you really understand? [Land] is the only commodity that’s gonna continually grow in value – ‘cause they can’t make no more of it! We’re just grabbin’ listings up now, ‘cause when [the market] turns around it’s gon’ be incredible.”
Word to the mutha.
