It's cool and I like it some. Take out the initials so it is more like rank #1. Elongate the oval more.
See if you can move "Real Estate Services by Gary May and Gene Montemore" around the edge to see what it looks like following the oval. If possible, try to use font for these letters like this: http://logopond.com/logos/a30b8282fa1ac7bbc1b2c2f59c4af348.png
Still need a less "polished" look overall and more "rustic"
The original description of the project is to think of rope, rusted and forged iron.