Making Time For Opportunities – Jim O’Neil
On this episode of The Closing Table, we sat down with Jim O’Neil!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Jim O’Neil…
The conversation began with a word association icebreaker on closing costs, homeowner’s association, and more. Jim introduces himself as a multifaceted individual beyond his real estate profession. He takes pride in being a devoted father and husband, emphasizing the importance of nurturing his mind, body, and spirit. Jim’s life philosophy revolves around maximizing his own experiences while also contributing substantial value to the lives of others.
Jim’s current market lies in Akron, Ohio, a city located in the northeast region of the state, approximately 26 miles away from Cleveland. Akron boasts a rich cultural heritage, being the hometown of influential figures like Lebron James and The Black Keys. The city has a tight-knit community, primarily consisting of locals, with limited influx of residents from other regions.
Economically, Akron thrives on industries such as technology and healthcare, characteristic of a typical working city in America. Like many other markets, the inventory of available properties remains relatively low, leading to high demand for houses. Properties tend to spend an average of about four days on the market, reflecting the vibrant real estate activity. The average purchase price for properties in the area is below $200,000. Interestingly, Akron has recently emerged as an investment-friendly destination, particularly in the rental market, attracting attention from real estate investors.
Before delving into real estate, Jim pursued a career as a landscaper, steadily rising to a managerial position. This early professional experience instilled in him the values of hard work and resilience. The long hours and modest compensation in his landscaping days laid a strong foundation for his subsequent success as a realtor. In 2013, Jim obtained his real estate license with the initial intention of gaining sales experience and eventually transitioning to another career. However, fate had other plans, as the real estate industry kindled his passion and became his true calling. The skills Jim developed during his time as a landscaper and manager, such as adept negotiation, effective communication, and unwavering attention to detail, have proven invaluable in his thriving career as a real estate agent.
Akron’s strong healthcare industry, characterized by multiple hospitals and medical centers, has presented opportunities for Jim to assist healthcare professionals in buying or selling their properties. He emphasizes the availability of specific programs designed to aid such clients during the process. For instance, there are doctors’ programs run by lenders that cater to the unique needs of healthcare professionals. Additionally, hero programs are in place to offer reduced closing costs and lower fees to nurses, first responders, and other essential workers, making the home buying or selling journey more manageable for them.
When it comes to resolving intense disagreements with opposing clients’ agents, Jim adopts a diplomatic and professional approach. He recounts that he has never had any intense confrontations, as he firmly believes that the transaction is not about him but rather about the clients involved. He adheres to the principle of not letting emotions interfere with the process and maintains focus on fulfilling his responsibilities with integrity and trust-building. Should disagreements arise, Jim tactfully reminds the other agent that the buyer and seller’s decisions matter most, and if they cannot find common ground, it is best to part ways amicably.
The presence of The University of Akron has a significant impact on the local real estate market, and Jim has experience in helping recent college graduates transition into homeownership in this area. He shares a particular instance where he met a recent college graduate who fell in love with Akron, leading to several successful transactions. However, he acknowledges that the challenges faced by recent college graduates in buying homes are significant, and it is more common for first-time homebuyers to fall within the age range of 28 to 34 years old. The current economic conditions and financial constraints often limit recent graduates’ ability to become homeowners immediately after college, making them more likely to enter the real estate market at a later stage in life. Despite these challenges, Jim remains committed to assisting clients at every stage of their homeownership journey, ensuring they find the best fit for their needs and circumstances.
Reflecting on his first real estate transaction, Jim openly acknowledges making numerous mistakes, which almost led him to consider leaving the business. However, the valuable lessons he learned from that challenging experience reshaped his approach to the profession. One crucial lesson was the significance of having a reliable and responsive broker—one he could reach quickly and ask numerous questions. Jim’s career has grown substantially, averaging about 60 transactions annually, with an average sale price of $198,000 in Akron. Dealing with such a high volume of clients and transactions inevitably leads to occasional turbulence, but he takes pride in the fact that he maintains positive relationships with all his past clients.
When discussing the advantages and disadvantages of being in a business partnership, Jim firmly believes that the pros far outweigh any cons. He shares a remarkable partnership story where he and his partner, incredibly similar in their business endeavors and personal backgrounds, found a perfect alignment of goals and vision. They recognized the changing dynamics of the market and decided to join forces to create a powerhouse team. Their partnership not only motivates each other but also provides support and consideration for one another’s families. It’s a true partnership built on trust and shared aspirations, and Jim feels grateful for such a remarkable collaboration.
The conversation wraps up with Jim sharing his personal inspiration, he in finding fulfillment within oneself rather than seeking external validation or material gains. He draws inspiration from a philosophy that emphasizes self-acceptance and striving to be the best version of oneself. While he knows achieving absolute perfection is unlikely, he focuses on being content and happy with the person he sees in the mirror every day. This approach allows him to be more effective and helpful in both his personal and professional life, as he brings a positive and fulfilled outlook into the world.
Check out Jim O’Neil:
Facebook: https://www.facebook.com/james.oneil.549221
Instagram: https://www.instagram.com/jroneiljr/
If you loved this episode subscribe so you never miss one! Want more The Closing Table content? Head over to our blog.