Modern Luxury Riviera Spotlight (Extended Q&A With Tim)
Featured in Modern Luxury's March edition of Riviera, Orange County, Tim Smith was named one of the "Top Luxury Real Estate Industry Leaders."
We've included an extended Q&A that didn't make it to print. Enjoy!
*Article posted with permission from Modern Luxury Riviera
Photograph by Nick Shetterly
A note from Senior Associate Publisher Diana McBride
With the average home sale price in Newport Beach now over $4 million, Orange County is home to some of the most luxurious properties in California. People of high net worth and discerning taste seek to work with only the best in this fast paced market, where properties tend to sell before they ever go on the MLS. The following pages profile top luxury real estate industry professionals, each with unique skills and experience. It was my pleasure to work with and get to know these outstanding individuals, not to mention spending a few days in such a beautiful environment as Roger's Gardens where we photographed them.
With expertise in coastal Orange County real estate. Tim Smith leads the #1 team in Orange County and Coldwell Banker's #1 team in California with over $4 billion in career sales. "I looked at my skills. my attributes and what I thought it took to be successful and felt real estate was the perfect fit." says Smith. "I wanted an opportunity to have my own business, work in a way that drives the best results and make a living that impacts other peoples' lives, all while supporting my family and giving back to causes that are important to me."
Smith counts the keys to his success as focus, trust and understanding the difference between being busy and being productive. He's also driven by fostering relationships with both new and returning clients. "I'm genuinely interested in people and doing what's best for them," he says. "Real estate has been the perfect avenue to apply that interest because you're dealing with people and their homes, which is where they spend more time than anywhere else."
With deep market knowledge, Smith is always on top of the latest trends, from marketing technology to the increased demand from buyers for the Orange County lifestyle. "Our team continues to grow using different facets of technology to expose our properties to a worldwide audience," he says. And Orange County is swiftly becoming a second home community with increased demand from all corners of the globe.
Smith is also keeping an eye on cryptocurrency's potential to disrupt the industry. "We should all take note of what's happening in the crypto world and with NFTs because there is a future to those types of technologies," he says. "Realtors need to start having conversations about how this will influence the market."
A pillar of the Orange County community, Smith is a family man who lives in Dover Shores with his wife Amber and their children Brixton and Sloane. He and his team are involved with charities like Big Brothers, Miracles for Kids, The Wooden Floor and Crossroads. "We understand how important the foundation of the family is," he says. "We want to support kids to have every opportunity to do great things and have no limits."
Extended Q & A
WHAT FIRST SPARKED YOUR INTEREST IN YOUR INDUSTRY?
I looked at my skills, my attributes, and what I thought it took to be successful in real estate and felt that it was a perfect fit. I’ve always loved real estate and I wanted an opportunity to have my own business, do things the way that drives the best results, and make a living that impacts other peoples’ lives while supporting my own family with the ability to give back to causes that are important to me within the community.
WHEN DID YOU KNOW YOU MADE IT IN YOUR CAREER?
I haven’t made it yet, but you’ll be the first to know when I feel that I’ve hit that point. I’m just getting started.
WHERE DO YOU THINK THE MARKET IS TRENDING NEXT?
There are a few trends I’m seeing in the market and industry. Number one - the market is trending in Orange County to become a second home community. We’ve had more demand from EVERYWHERE - international, local, western United States - because people are investing more in their lifestyle than ever before, and Orange County is a lifestyle place. Second, I do think that real estate is heading in a direction where huge hedge funds are trying to replace the agent. In some markets they may be able to, but in niche, unique property markets where inventory is very scarce, they never will be able to. Third, I do think we should all take note of what’s happening in the crypto world and NFT’s because I do believe there is a future to those type of technologies and need to start having conversations about how this will be influencing our real estate markets. Lastly, with such a reliance on technology within the industry, individual agents will become obsolete if they don’t have a very high-functioning team, it’s going to be harder and harder for individual agents to compete in the future.
HOW WOULD YOU DESCRIBE THE DEFINING CHARACTERISTICS THAT HAVE LED TO YOUR SUCCESS?
Focus, trust, and understanding the difference between busy and productive. I always know my most important daily tasks and focus all of my energy and schedule on it; one of which is a relentless pursuit of new clients - there is no substitute in this business from getting up to bat. Also, taking risks and trusting in the people – my team – who are experts and better than me in specific areas of my business. Fourth, I’m genuinely interested in people and doing what’s best for them. Real estate has been the perfect avenue to apply that interest because you’re dealing with people and their homes, where they spend more of their time than anywhere else.
WHAT ARE THE POSITIVE WAYS YOU SUPPORT YOUR COMMUNITY?
We’ve been actively involved with charities like Big Brothers, Miracles for Kids, The Wooden Floor, and Crossroads because we understand how important the foundation of the family is. We want to support kids to have every opportunity to do great things and have no limits. The second thing is to our support local legislation to ensure that we’re keeping OC safe, clean, and our schools great, so making sure we have the right people fighting to keep Orange County amazing.
WHAT IS THE BEST REAL ESTATE ADVICE YOU ALWAYS GIVE YOUR CLIENTS?
Number one – do what it takes to buy the house you want for you family - don’t lose it over a small amount.
Second – invest in real estate, buy one property every year and try to never sell.
Third – if you’re selling your house, find an agent that has the best business model, marketing outreach, and negotiating abilities to give you the highest and best price. And if you have to spend to update your house to get mor money, listen to the advice of your real estate professional. The difference between good and great agents is generally 15-20% in higher sales price.
PLEASE SHARE WHAT IS UP NEXT FOR YOU AND YOUR BUSINESS IN TERMS OF FUTURE LAUNCHES, COLLABORATIONS, OPENINGS OR ANY NEWS WE CAN BUZZ.
Growth using all the different facets of technology to expose our properties to a worldwide audience especially now that Newport beach is at the forefront of everybody’s mind and still very undervalued, relatively. Not only do we want to grow to be the #1 team in the world, but we want to grow with the people we love to work with - so finding the right clients that share our same values and understand our unique selling proposal is the key to our growth and happiness in this business.
IS THERE ANYTHING ELSE YOU’D LIKE TO ADD OR THINK WE SHOULD KNOW ABOUT YOU.
The key to life is balance and nothing is more important than the family. My wife and kids are my #1 priority – having the right team to support my business has enabled me to never miss important moments with my family which is most important to me.