OVERVIEW
Richard McDonough is a renowned real estate agent in Stillwater, Minnesota, who has built a strong reputation in the industry through his dedication to continuous learning and effective use of social media and technology. His perspective on the real estate market in Stillwater is overwhelmingly positive, shaped by his experiences and deep appreciation for the town. He views Stillwater as a beautiful small town with a strong sense of community, excellent schools, and a variety of activities, making it an attractive place for many people to move to. His admiration for the town is further reinforced by its consistent recognition as one of the best small towns in America. This appreciation, combined with his commitment to building relationships within the industry, has significantly contributed to his success, as evidenced by his remarkable growth in 2012 GCI from $79,000 to $485,000 in just one year.
TIMESTAMPS
(00:05:17) Desirable Real Estate in Scenic Stillwater
(00:16:29) Luxury yacht crew life and career transition
(00:24:11) From Yachting to Real Estate: Embracing Change
(00:28:03) Collaboration and Communication in Real Estate
(00:31:18) Maximizing Lead Generation with Google Business
(00:36:42) Stillwater: A Small Town with High Home Prices
(00:41:22) Enhancing credibility and effectiveness through accurate real estate data
OVERVIEW
Real estate in Stillwater, Minnesota offers a unique blend of small-town charm and access to major corporations, making it an attractive place to live. In a recent episode of "The Real Estate Sessions" podcast, host Bill Risser interviewed Richard McDonough, a successful real estate agent in the area, who shared insights into the local market and the challenges and opportunities it presents.
Located in the St. Croix Valley, Stillwater is not just a suburb but a beautiful small town with a strong sense of community. It is home to Anderson Windows, one of the world's leading window manufacturers, and is in close proximity to other major corporations like 3M, Target, and Medtronic. This combination of small-town atmosphere and employment opportunities makes Stillwater an appealing place for both residents and businesses.
One of the interesting aspects of the Stillwater real estate market, as McDonough pointed out, is that many residents have deep roots in the area. Generational homes are common, with houses being passed down within families. This means that a significant portion of McDonough's business comes from people moving into the area, attracted by the sense of community, excellent schools, and the variety of activities available.
The St. Croix River, which flows through Stillwater, adds to the town's appeal. It is one of the narrowest national parks in the country and was one of the first two rivers designated as a national scenic waterway. The river offers protection and scenic beauty, making Stillwater consistently recognized as one of the best small towns in America.
However, the real estate market in Stillwater is not without its challenges. McDonough highlighted the competitiveness of the industry, which can lead to inventory problems. To address this, he emphasized the importance of collaboration, information sharing, and effective communication among real estate agents and companies within the marketplace. By working together and helping each other, the real estate community can make the process smoother for everyone involved.
McDonough also stressed the need for real estate agents to treat their profession as a business from day one. Many agents focus solely on transactions and wait for the phone to ring, rather than planning for their future. He compared being a real estate agent to owning a franchise, where keeping the doors open and actively seeking opportunities are essential.
In terms of technology, McDonough expressed his enthusiasm for AI (Artificial Intelligence). While the episode did not delve into specific AI tools or strategies, it is clear that McDonough sees the potential of AI in the real estate industry and is exploring its applications.
When it comes to making informed decisions in the Stillwater real estate market, accurate data is crucial. McDonough emphasized the importance of obtaining data from reliable sources, such as Altos research reports. Having access to accurate and up-to-date information allows real estate professionals to better understand market trends and make informed recommendations to their clients.
In conclusion, Stillwater, Minnesota, offers a unique blend of small-town charm, employment opportunities, and natural beauty. The real estate market in Stillwater presents both challenges and opportunities, and real estate professionals like Richard McDonough are adapting to new methods and platforms to thrive in this competitive industry. By prioritizing collaboration, information sharing, and effective communication, the real estate community in Stillwater can continue to provide excellent service to residents and newcomers alike.
SOCIAL MEDIA LINKS
https://www.facebook.com/RichardMcDonoughLSIR
https://www.twitter.com/rmrealty1
https://www.instagram.com/richardmcdonoughmn
https://www.linkedin.com/in/richard-mcdonough-33949417b/
https://www.youtube.com/channel/UC6yABDgRo5b-zr-THwvvEtA
Episode 336 – Nick Bailey, CEO and President – RE/MAX LLC
Episode 335 – Jay O’Brien, Co-Founder and Chief Day Maker – Client Giant
Episode 334 – Short Cut with Karin Carr, Guest #202 August 27th, 2019
Episode 333 - Short Cut with Anthony Malafronte, Guest #86, 3/21/2017
Episode 332 - Short Cut with Jay Thompson, Guest #1 - July 15, 2015
Episode 331 – Karin Carr, REAL Brokerage and Warren Dow, Savvy Card
Episode 330 - Vija Williams, Head of Industry, PLACE
Episode 329 Katie Kossev, Owner/CEO The Kossev Group
Episode 328 - Another Cancer Journey Milestone
Real Estate Sessions Rewind - Karin Carr - Georgia Coast Homes Team Leader Brokered by REAL Broker, LLC
Episode 327 – Christina Pappas, President – Florida Realtors and Vice President, The Keyes Company
Episode 326 – Ashley Houseman, Team Leader, Ohana Homes – Houseman Team Powered by eXp Realty
Real Estate Session Rewind - Lynn Johnson, Founder – My Southern View Team
REAL Estate Sessions Rewind - Cliff Long, CEO - Orlando Regional Realtor Association
Real Estate Sessions Rewind – Ines Hegedus Garcia, Avanti Way – Director of Strategy and Innovation
The Real Estate Sessions Rewind - Joe Schutt - Owner/Broker - Unit Realty Group
The Real Estate Sessions Rewind - Natalia Karayaneva, CEO Propy
Episode 325 – Todd Schroth, Schroth Team Brokered By eXp Realty
Episode 324 – Jeff Dinter, CEO – Gravy
Episode 323 – Sarita Dua, Principal Broker At Keller Williams Realty Professionals
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Gorse Culture PODcast : The H.R. Detective Agency!
The Ramsey Show
Planet Money