Tim Farnham, of Black Label Realty, got into real estate as a hobby several years ago and is now putting his expertise from other industries to use as he builds out his brand in the San Francisco Bay Area.
Tim sat down with Radius Agent to share his story. His interview provides insights for those who are looking to enter the real estate industry.
How long have you been in real estate?
I’ve been in real estate for 8 years. However, I have been a hobby agent up until this year. I'm investing heavily into technology/marketing/recruiting to break into the luxury market.
Have you held other roles besides realtor?
I have been a systems engineer/human performance/systems manager for nuclear power plants for over a decade. I left that in 2019 to get my MBA so I could start a brokerage this year. However, since I found Radius, I no longer have to get my broker’s license and I can just focus on systems, marketing, and recruitment.
Where are you based?
San Francisco Bay Area for 2021, expanding to Hawaii in 2022.
What’s your team name and what does your brand stand for?
Black Label's brand is about the utmost professionalism and attention to detail. The focus is on personalized service to the client to make the experience as relaxing and stress-free as possible. As agents, we are problem solvers and advocates for our clients. We take a servant mentality from a position of abundance and compassion.
Black Label is synonymous with luxury. Whether it’s cars, whiskey, or phones, when one hears “Black Label” they know it’s a higher tier of service. At Black Label, that’s what we do. We offer the highest level of service around. Our clients’ needs are our needs and we strive to exceed any need or expectations our clients have.
What’s your favorite thing about being a realtor?Making other people's dreams come true and cultivating relationships with my clients. Most clients I work with are surprised by my relaxed, no-pressure methods. I only want my clients to make an offer if they LOVE the property. I make that crystal clear from the beginning and remind them that if they are hesitant about a home they shouldn’t make the purchase. For sellers, I do everything I can to put them at ease and take the burdens onto myself, so they can focus on their future.
What surprised you most about working in real estate?
Just how much I love it. I originally got my license because I was shocked by all of the snakes and shady agents I met when trying to buy my first house. It shaped my view of what an agent should and should not be and I still hold myself to that standard of how I would like to be treated.
What do you wish you knew when you started as a realtor?
To use technology. I tried for years being "old-fashioned" and had a rough time. If I had Radius 8 years ago, I would be in a much different position.
What’s the most challenging part of being a realtor?
Convincing potential clients I'm not like the rest. Most people I talk to had such bad experiences with agents (similar to my own bad experiences with agents) that they group me in with the bad apples. However, once they meet me, they are hooked because they can tell my character from my sincere voice, compassionate stance, and genuine concern for their best interest.
What was your favorite sale?
Buying my parents, from Nebraska, a California dream home.
How’s luxury marketing different from non-luxury marketing?
Patience and poise. It is not a numbers game.They must look at you as a confidant and business partner.
What’s new in your market?
It's a buyer’s frenzy right now. Buyers need extra time to learn how much they actually need to spend to get what they really want. I make no exceptions.If they don't love it, we don't write an offer.
Where is the market headed?
To the moon!
What are some words to live by that you would like to share?“Nana korobi, ya oki,” which translates to: “Fall down seven times, stand up eight.”
Thanks, Tim! You’ve shared so much valuable information with our readers. We really appreciate you telling your story and inspiring us.
Be sure to follow Tim on Instagram, Facebook, and Twitter. To reach out to Tim for the sale or purchase of a property, contact him at Black Label Real Estate. And if you’re a real estate agent looking to take your business to the next level, click here to get started with Radius Agent!
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