While other members of his family forged careers in the construction industry, lifelong Lincoln resident Jon Tetrault decided to pursue his passion for real estate after completing trade school with a focus on carpenter and electrical work.
For Tetrault, that meant joining Slocum Realty in Warwick, where he’s been trying to help others find their dream homes for nearly 12 years. Tetrault has been working as sales manager alongside Nick Slocum for the past six years as part of what they call The Nick Slocum Team, now with 12 other members specializing in residential real estate sales throughout Rhode Island and southeastern Massachusetts.
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While real estate agents often enter listing agreements with clients for three to six months, The Slocum Team offers day-to-day listing agreements, meaning if the client isn’t happy with their service, then the listing can be canceled before the signing of a purchase and sales agreement without penalty or fees.
PBN: What are your analysis and observations about the real estate market in Rhode Island so far this year, and what’s your advice for people who are now trying to buy a home here?
TETRAULT: So far this year in Rhode Island, the real estate market has remained a very strong seller’s market. With that said, the recent rise in interest rates is starting to show an impact on buyers’ purchasing power, which will then have an impact on sellers and the number of buyers who are willing and able to purchase their homes.
My advice for those looking to buy would be to act sooner rather than later since rates are likely to continue to rise. And while patience will be key, the competition is not as bad as it was just weeks ago for buyers.
PBN: When and how did you first get into a career in real estate, why was it a path you chose to take and how has your background in construction influenced how you do your work now?
TETRAULT: I have been in the real estate industry for just over 11 years now. Prior to real estate, I worked in the construction industry, and while I realized the physical aspect of that was not a good long-term fit, I loved being around construction, houses and the entire industry. That background has been a major benefit to my clients and myself, and it gives me more of a trained eye for my clients when walking through homes.
PBN: How were you able to grow The Nick Slocum Team from just you and Nick Slocum into a 14-member team over the course of 12 years?
TETRAULT: The evolution of our team from Nick and I to the 14-member team we have now was a slow and gradual process. The goal has always been to grow the team, however, it is all based around providing our clients with the greatest possible experience and service possible. Therefore, our team primarily focused on growing the operations side early on, and now with the proper systems in place to provide top-tier service, we have been able to responsibly add more sales agents.
PBN: What does it mean to offer a day-to-day listing agreement for clients? Can you explain what that means and the difference from a typical listing agreement that will last three to six months?
TETRAULT: Our day-to-day listing agreement offers our clients the opportunity to walk away at any time prior to signing a purchase and sales agreement with a buyer, with no cost or penalty to them.
We take pride in offering this, as we feel nobody should be stuck in a contract that they don’t want to be in, and also that we have a responsibility to prove ourselves to our clients each and every day.
PBN: What do you do for sellers to maximize the value they can get for their homes?
TETRAULT: There are a few things that contribute to a seller maximizing their value. One of which is a comprehensive pricing strategy, in which we sit down with our sellers to review the various options they have when it comes to the most effective list price and the pros and cons of each.
Next, it all comes down to marketing, and along with our staff photographer/media director and full-time marketing director, we have a 21-point marketing plan to set our clients up on a proven path to success.
Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.
