125: How to Start a Real Estate Business at 40 Years Young… Thomas McCormack of Resources RE

Background on Thomas McCormack of Resources Real Estate:

Thomas McCormack is Managing Partner and Broker for Resources Real Estate located in Monmouth County, NJ. Having begun as a sales associate in 2002, Tom built his business by providing his clients with top-of-the-line service, ongoing communication and superior market knowledge. With a background in television and event production, Tom has decades of experience that includes marketing, content creation, production, negotiation and detailed organization.

A resident of Monmouth County since 1999, Tom moved to New Jersey from NYC and is well familiar with the questions and concerns of relocation clients. A testament to his service: the major portion of his business is generated from the referrals from past satisfied customers. Tom has received numerous awards including New Jersey Association of Realtors Circle of Excellence Award for ten years running as well as the association’s Distinguished Service Award.

Using the skills, he developed as an associate, Tom, along with partner Carolynn Diakon, has grown the company significantly since their partnership began in 2010, expanding their locations from one to four and growing their agent roster to over 80 sales associates. They have been recognized by Inc. Magazine as being among the fastest growing private companies in the US (the Inc. 5000) as well as included in NJ BIZ 250, the top 250 private companies in New Jersey, and their marketing has been honored by Who’s Who in Luxury Real Estate and the Board of Regents of Luxury Real Estate.

Time-Stamped Show Notes:

[1:11] Resources Real Estate is an independent real estate brokerage that sells residential and commercial properties in Central New Jersey.
[4:44] The Resources Real Estate was founded on 2000 by Carolynn Diakon and Thomas joined the company on 2002. He became a business partner in 2010.
[7:52] Thomas talks about Carolynn’s fight against breast cancer.
[9:22] When Tom became a business partner, growing the company was the main goal.
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[13:20] His previous experiences working on HBO and being a freelancer in the entertainment industry gave him the skills that he needed in the real estate business.
[19:21] Thomas was already forty years old when he transitioned into the real estate business. He had zero knowledge about the business and he only had a few savings.
[22:24] Being an introvert and has no previous sales experience, Thomas faced these challenges during the early stages of creating his business.
[25:35] When he was still studying to become a real estate agent, Thomas created his own database for real estate.
[27:25] Thomas talks about his early success in marketing and creating a positive perception for his brand.
[29:49] Being new to the real estate business, clients already thought that Tom was the go-to-guy when it comes to real estate. His marketing strategy and creating a sharper perception of himself paid off.
[37:15] In 2003, he started using new email marketing strategies to attract potential clients.
[41:19] He attributed most of his success to his high-level of focus and hard work.
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[47:54] Tom emphasizes on the importance of a strong company culture. However, there is also a flipside to it.
[52:46] Tom talks about an interesting story about him coming face to face with a real tiger. The tiger experience gave him an important lesson to stay calm and be confident.

Fabulous 4 Questions:

📖 📚 Favorite Book(s)? Crime & Punishment by Fyodor Dostoevsky & Oliver Francis
🙌😎 Favorite Amazon.com purchase? Camera
🌱💸 Favorite Tool that's GROWN your Business? Gsuite
💭💡 BIGGEST Challenge keeping your Business from GROWING? Agent Recruitment

Key Point from the Interview:

“One of the most important things that I learned is that, it’s not necessarily who you are or what you are, it’s what other people think you are.”

Resources Mentioned:

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