In the following interview, Terrence Murphy Sr., broker, CEO and founder of TM5 Properties, a member of Leading Real Estate Companies of the World® (LeadingRE), in Bryan Texas, discusses agent development, luxury and niche marketing and specializations, and more.
Region Served: Bryan/College Station, Texas
Years in Real Estate: 11
Number of Offices: 1
Number of Agents: 30+
Best Tip for Getting the Right Listing Price: Do your due diligence and study the market trends.
Best Tip for Dealing With Difficult Clients: Never waver in your integrity. Be truthful, speak the facts, and always respect others.
Most Effective Way to Motivate Agents: Lead by example. We maintain a high standard in everything we do at TM5 Properties.
What are some of the most important things you learned as a professional football player that have helped you succeed in real estate?
Being a pro athlete gave me a good background for running a good organization. The Green Bay Packers are a billion-dollar company, but I wasn’t just catching touchdowns; I was watching how they maintained a successful organization. Being in real estate, you work with a lot of agents and brokers, and knowing the numbers and how to read details within contracts are things I learned as an NFL player.
Tell me a little bit about how you develop newly-recruited agents.
Above all, I try to give my agents accountability and responsibility. We’ve created a track record through our training, continually producing newer agents who close 30 to 40-plus transactions per year. By doing this, we’re building a culture around hard-working, persistent people who desire to evolve and grow personally and professionally. Their success speaks for itself.
Do you recruit different agents to represent farm and ranch clients versus luxury market clients?
I look to develop core competencies in three areas: luxury/residential, farms and ranches, and property leasing. I tend to recruit agents who find their niche specializing in one of these three areas. We try to coach our agents to get into the business and become an expert in one area at a time because if you try to do it all, it’s much more challenging to become successful. At the end of the day, you become successful because you put in the time and effort to bring value to the clients you represent.
What made you decide to affiliate with LeadingRE, and why has the affiliation been so successful?
I was being courted by a lot of big franchises, but when I decided to become independent, I saw just how hard LeadingRE is working to become one of the leading real estate brands in the world. I find that the company leadership at LeadingRE is really genuine, and they’re willing to pass down their wisdom. They didn’t feel intimidated by me, which has provided the opportunity to sit down and share ideas, helping TM5 Properties achieve a distinct level of success in the markets we serve.
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