Five Questions With: Dean deTonnancourt

A 25-YEAR CAREER in real estate allows Dean deTonnancourt to take a measured approach in advising buyers how to approach what may be the largest investment they make in their lives. / COURTESY DEAN DETONNANCOURT
A 25-YEAR CAREER in real estate allows Dean deTonnancourt to take a measured approach in advising buyers how to approach what may be the largest investment they make in their lives. / COURTESY DEAN DETONNANCOURT

Dean deTonnancourt, the broker and owner of HomeSmart Professionals Real Estate in Warwick, recently was inducted into the Omega Tau Rho fraternity of the National Association of Realtors. The membership in the honorary fraternity, awarded by fellow Realtors, is a reflection of his career in residential real estate. He spoke with Providence Business News recently about the industry.

PBN: What made you interested in real estate as a career?
DETONNANCOURT:
Ironically, I fell into real estate as a profession. While managing a local video store back in 1989, a colleague suggested I try real estate. At that time, a customer of my store was a local broker in that area, and sponsored me for the licensing classes. I embarked on real estate as a full-time career, and never looked back.

PBN: You are a past president of the Kent Washington Association of Realtors, and a longtime resident of West Warwick. What do these counties, and these towns in particular, offer homebuyers?
DETONNANCOURT:
Kent County is set centrally in the state, allowing for convenient access to all aspects of what Rhode Island has to offer. We often take for granted all that we have available here. Coventry and West Warwick, in particular, offer many local conveniences, easy highway access, multiple accredited schools and education programs, and truly affordable housing options.

PBN: You have experience as an instructor for first-time homebuyers. Are new buyers approaching the market any differently than they did 10 years ago? Any advice for them you could share?
DETONNANCOURT:
Consumers are extremely educated in today’s market. Technology allows a homebuyer to discover any information necessary in choosing a home and a location that’s right for them. While the role of a Realtor remains a constant in ensuring the buyer’s ultimate success in their purchase, Realtors are no longer the “gatekeepers” of information. Our role now is to translate the information, advise and negotiate on the buyer’s behalf – protecting and promoting the client’s best interest. My advice to a home buyer would be this: “Don’t buy without representation. Don’t pretend to be something you are not. Always trust a professional to represent you in the single largest purchase you may make in your lifetime.”

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PBN: One of the most difficult aspects of the house hunt seems to be knowing when to walk away. How do you advise new buyers to examine a property’s faults? Are there deficiencies that would kill a sale?
DETONNANCOURT:
Emotions run high in a home purchase. Buyers have already made plans for their new home and in many cases have built dreams around it. Buyers need to find a way to separate emotions when it comes to negotiations, especially when it comes to inspection findings. No one wants to make a bad investment. Structural deficiencies should be addressed without hesitation. Those as well as other deficiencies should be evaluated in relation to the sales price of the property. Many homes are priced according to their condition, the buyer simply needs to determine if they are satisfied with the condition accordingly.

PBN: Where do you see the Rhode Island residential market in another three years?
DETONNANCOURT:
The Rhode Island market continues to improve, with increased property values and affordable interest rates. Number of sales as well as median prices have increased this year over that of last year. Add to this the increased consumer confidence in the marketplace, and we should expect to see this trend continue.

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