KEYS FUTURE: TO THE
Craig Tann
November/December 2014
E C N A T S PERSI F F O S Y PA n n a T g i a r C for Written By: Sheryl Greenblatt Photography: Jamie Thomson
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irection, focus and follow through don’t seem to be issues for Craig Tann. The 30 year old from Long Island came to Las Vegas to be more successful, and with his usual style of total commitment, that’s just what he has done. As a teen, Tann discovered the Real Estate Industry while at a friend’s birthday party. “They had the nicest house in town, ten thousand plus square feet, sitting on six acres and they owned most of the commercial property in town. I had to find out how they did it.” Tann knew early off that he wanted to go into business for himself, but didn’t have the usual tools such as a family business, industry connections or financial backing. Real Estate offered the perfect opportunity for the life Craig wanted. He studied Business Administration for two years in community college but realized that traditional schooling wasn’t for him. A shy, quiet individual, Tann didn’t fit the traditional “mold” for agents and surprised family and friends when he decided to pursue a career in the field. “I remember the day I told my family. They all wondered if I would be happy in such a people oriented career,
and wanted the best for me, of course.” While Tann has become more outgoing over the years, he believes that it’s just not necessary to be super outgoing. He started with a small brokerage (with just 4 full time agents) in New York. “It was a great opportunity to learn. Everyone knew each other
and helped each other get better. They of a large network of friends and definitely helped me get my feet wet family to market to. Being new to in the business.” Vegas and a bit of a workaholic, the only contacts Tann had were As many 21 year olds do, Tann already in the business. “They came to Vegas for his birthday. He certainly weren’t going to refer me visited a friend up in Summerlin business,” said Tann with a grin. and got a feel for the city and all of With no source of leads, he had the opportunities. Just two months no choice but to reach out directly later, he packed up his car and all and find his own clients. And reach his belongings and headed west. out he did. Tann hit the phones, Connecting with the sister of an utilized the expired list and spent appraiser friend from NY, Tann got a hours each day making phone calls job with then Prudential Americana, and knocking on doors, talking to moving swiftly to managing a new people face to face. He attributes team. He enjoyed the team setting, his success at this “Turn and Burn” but decided to go out on his own method to his persistence and after one year, in order to build his his ability to handle rejection. “I own business. filled my head with positive ideas Many Realtors® have the luxury and outcomes, even if they were small. Baby steps. Small wins. Be
consistent and persistent.” This method led to customers and those customers led to referrals. “I didn’t realize in the beginning that you have to build relationships. A lot of agents try to get that relationship up front, but you can’t. When I approach a client, I tell them what I’m going to do for them, and then I deliver. The relationship comes after I get the job done.”
of the listings and unloaded their properties, many agents threw their hands up. Tann just applied the same method he used for his business calls and focused them on the banks. He gained over 30 different banks and asset management companies as referral sources and his business increased exponentially. “Many agents weren’t comfortable being on the phone, but I’m okay with rejection. I could handle calling 14 different extensions before I got the right person. And I was able to convince them to work with me instead of the next guy. It ended up being consistent business, we handled about 20 to 40 properties a month.”
Tann also attributes his success to his versatility. Sales range from 75 thousand dollar houses up to 3 million dollar homes and he refuses to be pigeonholed. The clients may be totally different, but the customer service and respect he shows them is the same. His ability to transition The next market shift was along with the market is another devastating to some agents. testament to his versatility. When “Bank owned properties were the banks took over the majority approximately 85% to 90% of our business and then, the light switch
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the best way to build ut b , ill p ic g a m a r fo oking Agents are always lo people face to face. t ee m — y a w ol ho a business is the old sc
job.” Once an agent is closing deals, he suggests putting a small portion of commissions into marketing, creating a new stream of business. “I send out multiple mailings. Most people only send one and hope for a result. But, it took me almost a year to get a tangible result. You must be consistent and send to the same target multiple times. You must become the community expert.”
flipped off. Banks weren’t sending properties. Most brokers didn’t know how to adapt to a regular market. It’s like we went from being sales people to being sales managers.” While Tann experienced a small change in his business, a loss of approximately 25% in the first year, with his ability to focus and think on his feet, he was able to shift gears again, back to general sales and bring his business back up about 30% when most agents were down 90% and panicking. Approximately eight years ago, Tann began to build his team. With four or five like-minded individuals, he enjoys the support his team provides and the assistance with excess clientele. “I like to keep my team small. Some agents hire 20 to 30 people under them. When you have that big a team, you spend all of your time hiring and firing people. It becomes a full time job and you have no time to go out and sell.” Tann has been fortunate enough to only do the parts of the business that he enjoys. “I have the right people around me to oversee the things I don’t like to do.” Tann has a broker’s license but doesn’t actively practice. Being under the Berkshire Hathaway umbrella affords him the profitability he is looking for without having to worry about building that aspect of the business. Tann has always preferred to focus on sellers. He will work with buyers if it is a friend or referral, or when a seller wants to buy, but it’s not what he enjoys most. “I can handle more sellers at a time. I can only help about 4 or 5 buyers a month, but with sellers, I can keep an inventory of 40 to 50 and sell 8 to 10 houses a month.” While Real Estate may be his calling, it’s not the only thing in
his life. Mckenzie, his 4 year old daughter who spends half her time with him, keeps him busy and happy. “On the weeks that she is with her mom, I focus on my career and my business, but when she is with me, she has my full attention.” Weekdays are a set schedule with Mckenzie attending Pre-K. Tann gets her ready for school, makes her lunch and handles drop offs and pick ups. Mckenzie gets to visit the office often and loves hanging out with his co-workers. “Her mother is a real estate agent as well, she’s even gone with her to show properties.” On the weekends, the two can be found visiting museums, local kid friendly spots, hanging out with Mosley, the family boxer, or making road trips for fun. Sharing his passion for winter sports and snowboarding, Tann plans to take her skiing for the first time this year. “When she is with me, she is my main focus. Work is secondary.” Tann and his team focus a great
Tann also recommends setting goals and putting them in writing. “It’s easy to say you want to do something, but you have to write it down and tell others, or you will feel okay not doing it.” He laughs as he remembers his most successful year when he posted his goals to the glass door facing out of his office. “Everyone could see them, so they would ask me about my goals constantly. It was annoying, but it deal on charitable contributions and made me follow through. Otherwise, giving back to the community. For I would’ve looked like a fool.” many years, he has donated a portion What’s Tann’s next goal? “I of each commission to Sunshine wanted to build a portfolio of Kids, a group that supports children properties and work for fun, not with cancer. They’ve worked with because I have to. So I can focus the Las Vegas Rescue Mission, and on being a dad and just work when on occasion, attaching gift cards I want. But I realized it’s silly to to water bottles for those in need. retire that young. I would drive “We fill up shopping carts for Toys myself and everyone around me for Tots around Christmas too, but crazy. And I enjoy the business too I like it better when I can actually much.” With his keys to success, see our donations go directly to the Tann will continue to be a force in people in need.” the business. For those agents just starting out in the business, Tann has some great advice. “Agents are always looking for a magic pill, but the best way to build a business is the old school way – meet people face to face.” He cautions against throwing a large amount of money into branding at the beginning. “It’s better to brand yourself by your performance. Knock on doors, make phone calls, and do Open Houses. Then, do a great
For now, it’s enough for this focused professional to bring up his lovely daughter and do business in a way he can be proud of. 2015 goals are in place and he can concentrate on adding to the long term goals as he goes. Craig Tann can be reached via email at craig@estatesoflasvegas. com or by calling 702-279-9893.