Peter’s journey into real estate was hardly linear. He spent more than two decades in the auto industry—helping people find, finance, and maintain their vehicles’ (most recently working in the service department for roughly a decade). While he exceeded all expectations—Peter typically placed in the top five throughout New England for customer service at his Massachusetts-based dealership—something inside him, however, told him there was a better path; enabling him to help people in more tangible ways.
More than two years ago, Peter changed careers. He left the car dealership and entered into real estate. He studied for the exam, passed it on the first try, and became a realtor for The White Lion Group, a division of eXp Realty in Cranston, three months ago. Peter helped purchasers and sellers get the most out of their transactions.
Peter said that the transition from automobiles to real estate wasn’t too difficult for him.
“I pride myself on having excellent customer service,” he said. “Because I worked in that capacity, making customers happy was my top priority. Changing gears into real estate gave me a better way of generating income for people, as opposed to just selling them something that depreciates over time.”
He said that buying a home is one thing people can see as a commodity, increasing over time. Peter noted that when anyone buys a car, the value drops as soon as the car leaves the lot. That usually isn’t true with homes.
One recent success story involved a local woman. With Peter’s help, she sold her five-bedroom house. With the money she received from the sale, she purchased a mobile home and retired early. Peter said that was “rewarding” to help her realize that she didn’t need to work anymore.
One way Peter illustrates a homeowner’s situation is, “house rich, cash poor.” By tapping into the equity in their homes, once they have him sell the property, they can have the money they need to do the things they want and need to do. Especially if the property is starting to have a lot of deferred maintenance, or problems they simply do not have the money to repair.
He works with many industry professionals to make the home-buying process easy. There are some customers who may need extra help because of poor credit, no credit, or lack of available funds. That is when Peter uses his team to ensure the process runs successfully.
That extends into the pre-approval process, which is crucial to determining viability. Being able to know what customers can afford and what their financial situation is narrowing the search for homes in a given area.
Heath Lefort, branch sales manager for Fairway Independent Mortgage Corporation in Providence, said that being able to get the process moving the right way requires knowledge of the industry. It also means being able to be competitive with any offers buyers have. Lefort says working with Peter makes the process simple for all involved.
Another way their partnership thrives is Peter’s knowledge of the condo industry. With rules, regulations, and other obstacles that could become unwelcome surprises at closing time, Lefort said Peter’s ability to read through the contracts makes all the difference.
“There are a lot of guidelines people don’t necessarily know about until after the deal closes. That can have negative consequences for all parties. Peter works with all involved, so they understand what they are signing. Knowing those in advance can and should be disclosed so buyers can make informed choices,” Lefort said.
Peter is licensed to practice real estate in Rhode Island and Massachusetts. He has lived in Rhode Island for more than a decade. Because his father, Peter, Sr., served in the U.S. Army, Peter lived all over the world. Settling in Rhode Island has been wonderful because of the wealth of opportunities the area offers.
“If I want to go to the beach, it’s close by. I am close enough to see a show in the city or take a drive out to the country. Plus, I am not far from Boston. There are endless possibilities living here,” he said.
Peter’s advice for buyers is: “Yesterday was the best day to buy. Today is the second best day.” Wintertime is a great time to sell because the people buying are determined to move and competition isn’t as fierce. For sellers, it comes down to having a solid marketing strategy to put your property in front of as many people as possible, including social media, mailers, MLS, and even walking the neighborhood to inform the area that there is a property for sale.
He states, “I would like to choose my neighbors, wouldn’t you?”
Peter also noted his interest in helping anyone interested in purchasing multi-family units. Particularly, anywhere in Cranston, Providence or Woonsocket would be a good introduction for him.
When he is not learning the trade, Peter spends his time with his 14-year-old daughter. Being in real estate affords him the schedule to be there for her.
You can also find him on Facebook: Peter Brown-eXp Realty, or on Instagram: Peter.Brown.Agent