Tommy Howard - The Norton Agency (Part 3 - "The Art of Sales" with Phil Bonelli)

Not all real estate agents are created equal, and the differences can have a massive impact on your home-buying or selling experience.

We’re super excited to share this third segment of our exclusive four-part “The Art of Sales” Series with you!

Tommy Howard, President & CEO of Brokerage Services @ The Norton Agency, returns to North GA Business Radio to chat with us about all things Real Estate — buying, selling, what it takes to be a successful Real Estate professional, local Hall County market conditions and so much more!

Tommy has an extensive 28-year background in the real estate industry. As the CEO for the last four years, Tommy’s journey within The Norton Agency underscores his absolute dedication to serving our community at the highest level possible.

His sales mastery in a demanding and challenging industry comes from implementing a consultative approach to real estate sales. He offers valuable insights into the distinctions between a real estate broker and agent, emphasizes the significance of ongoing education, and addresses the prevailing real estate market trends and affordable housing challenges in Hall County.

Tommy’s comprehensive understanding of the real estate landscape has established him as a leading expert in the industry. He provides indispensable guidance and knowledge for real estate professionals and agents navigating the industry’s intricacies.

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Highlights Of The Show

00:00:31 – Importance of Real Estate Investment
The host and guest discuss the value of real estate investment and the role of a real estate salesperson as an advisor rather than just a seller. They emphasize the consultative nature of real estate sales.

00:02:44 – Differences Between Real Estate Agent, Realtor, and Broker
Tommy explains the distinctions between a real estate agent, realtor, and broker, shedding light on the qualifications and responsibilities of each role in the real estate industry.

00:07:43 – Professionalism and Code of Ethics in Real Estate
The conversation delves into the professional standards upheld by realtors, emphasizing the adherence to a code of ethics and the importance of market knowledge and expertise in providing valuable advice to clients.

00:13:45 – Market Trends and Changes
Tommy discusses the current market trends, highlighting the increase in home prices and addressing the impact of national news on local real estate markets. He emphasizes the dynamic nature of the real estate market and the need to understand local factors influencing it.

00:14:19 – Current Real Estate Market Trends
Tommy Howard discusses the current real estate market, highlighting growth, rising prices, and affordability compared to other states. Despite fewer houses selling, the high-end market keeps the industry strong.

00:15:10 – Affordable Housing Challenges
Howard delves into the challenges of affordable housing, revealing a limited number of properties under $250,000 and a scarcity of supply. He highlights the increasing prices and the high-end market’s impact on the industry’s strength.

00:16:49 – Apartment Market Overview
The apartment market is discussed, revealing a 98% occupancy rate and escalating rents. Single-family housing rentals are highly desirable, with less than 1% occupancy, addressing the issue of down payments for homebuyers.

00:19:30 – Importance of Real Estate Agents
Howard emphasizes the importance of real estate agents in the buying and selling process, highlighting the legal complexities, emotional rollercoaster, and the value of having a professional guide clients through the transaction.

00:20:43 – Creating Client Relationships
The process of formalizing a relationship with a real estate agent is explained, emphasizing the need for a written agreement to establish client or customer status. The importance of disclosure and legal documentation in the real estate process is emphasized.

00:28:13 – Importance of a Realtor
Tommy emphasizes the value of a realtor in buying and selling homes, highlighting the need for a professional’s expertise and experience.

00:29:34 – Education and Pitfalls
Tommy discusses the importance of educating oneself about the industry, understanding the pitfalls clients may face, and providing valuable insights to help them navigate the process effectively.

00:30:47 – Continuous Education
The conversation delves into the significance of ongoing education in real estate, including mandatory state requirements for continuing education and the continuous effort to stay updated on market changes and new policies.

00:36:02 – Leading a Team
The focus shifts to leadership, emphasizing the importance of listening, providing valuable guidance, and building a supportive team to achieve success in real estate sales.

00:40:17 – Building Culture and Teams
The CEO’s role in building culture, getting the right people, and driving numbers is highlighted, emphasizing the significance of surrounding oneself with good people to achieve business success