In our new blog series, we’re taking you behind the scenes to meet the amazing agents and staff of Coastal Premier Properties. We hope you’ll follow along as you get to know more about the faces of our great company!
This week we’re talking with Tom Tucker, Broker of Record at Coastal Premier Properties. We feel so fortunate to have such a wise and knowledgeable broker at Coastal Premier Properties. Tom started in the real estate industry in San Diego during the 1970s. To learn more about how the industry and area have changed since Tom started his career, click over to our History of San Diego Real Estate series.
Coastal Premier Properties: When did you first take an interest in real estate and how did you get started?
Tom Tucker: I was working my way through San Diego State as bartender and a customer said she had just received her license and that I could be successful as well! Plus, the company she spoke about had training – something new to the industry. Also, my family had historically owned multiple properties and I knew I wanted to own real estate. I purchased my first property when I was 18.
CPP: How have you seen the economy affect the real estate market?
TT: When I first entered the business, rates were 7% then went to 18%. Now they are just over 4%. We talk about the rates, but no one can do a thing about them. They are what they are.
CPP: What has been the most significant moment in your career?
TT: My first commercial sale was a $32 million dollar shopping center. I did all the due diligence to provide my client the needed insights for the purchase. I negotiated all the aspects of that sale – no one at my company at the time was there to provide help. I asked the owner for his story as to how he came to build such a real estate portfolio – what I learned from his story still helps me today.
CPP: What opportunities has this career given you over the years?
TT: Whew, I am lazy, never had a real job in 43 years! High risk and high pay out is my by-line. If one chooses to participate in the sales arena, then the rewards are financial independence, equity build-up from acquisitions, and freedom of time over time clock.
CPP: What personal characteristics do you feel contribute most to success in this industry?
TT: Sense of business planning and execution, dedication to work hard, self-discipline, and the desire to acquire wealth through ownership of real estate.
CPP: What advice would you give someone who is planning to pursue a career in real estate?
TT: Study study study! Be a GREAT facilitator. Today, more than ever, one has to facilitate a sale, not SELL a property. The web has changed everything about who we are, what we do, what we must know, etc. Being a GREAT listener is imperative. Listen more, talk less, watch body language and client delivery.
CPP: What do you find most challenging/ satisfying about your work?
TT: Challenge – stay engaged, know the client and their agenda, be a great facilitator. Satisfying- knowing you can be an asset in a transaction, but you MUST know what the hell you are doing! Being proactive means you can be satisfied you are on your game. Handing clients keys to the new home is rewarding! Getting referrals and repeat business is rewarding and provides validation you are an asset to the client.
CPP: Is there anything you would have done differently with your career?
TT: Invested in more real estate. Still can happen today. The numbers are bigger, but the concept is the same – help clients with their needs, then insure your needs (investment portfolio) are taken care of. NO one will take care of YOU so earn earn earn, save save save, invest invest invest. Believe in the product ….its equity will grow, but you MUST own real estate otherwise, in my view, you do not believe in the product.
For more about Tom, click here.
For our next post in the People of CPP series, we’ll be speaking with Sam Hahn, Head of Property Management at Coastal Premier Properties!