Pam Hanson Carbone is an owner and broker at Domain Properties in Providence, as well as a real estate licensing instructor who was recently appointed by Gov. Daniel J. McKee to serve a five-year term to the Rhode Island Real Estate Commission.
In 2020, Carbone was named Realtor of the Year for the Kent Washington Association of Realtors. Carbone has also been an active volunteer with nonprofit organizations, including the American Red Cross and Rhode Island Pride.
PBN: Late last year, Gov. McKee selected you to serve a five-year term on the Rhode Island Real Estate Commission. What’s been your reaction to this appointment? What does the Rhode Island Real Estate Commission do and how often does it meet?
CARBONE: To be selected by your governor to serve on the Rhode Island Real Estate Commission is one of the highest honors a real estate professional can receive. I am humbled and excited to serve.
Real estate practitioners are appointed to the commission based on a demonstrated successful long-term real estate practice in the state coupled with demonstrated scholarly knowledge of Rhode Island real estate law. The Rhode Island Real Estate Commission acts in an advisory role to the real estate licensing director of the Department of Business Regulation on education and policy matters. The commission meets in public session every other month.
PBN: What kind of actions have you been involved with as part of the commission thus far? How does this action impact consumers?
CARBONE: The Rhode Island Real Estate Commission recently further defined regulations as they apply to real estate teams. A real estate team is a group of two or more licensees who work together under the supervision of the firm’s designated broker to help consumers buy, sell and lease property. The commission advised on the relationship disclosure for team members to consumers so consumers can clearly understand the type of representation they are receiving from each member of the team.
PBN: You’ve said that you’ve been representing buyers and sellers since 1993 and have not had one client lose money on a property. How have you achieved that, and what advice do you have for other real estate professionals on making sure their clients don’t ever lose money on a property?
CARBONE: Real estate professionals have the privilege of making a living from other people’s investments. I take this very seriously. I believe in only representing one side of the transaction. By never double-ending, I remain my client’s fiduciary advocate. This approach yields results for clients.
My advice to my peers is to build your knowledge – do not rely on standardized property valuations. Learn how to research and chart a property’s value over time to predict its value path in the future.
PBN: What has it been like to be the owner of Domain Properties? How many years have you owned the company, how many people does it employ and how do you see the company’s path unfolding going forward?
CARBONE: I’m living my dream owning and running Domain Properties. I’m incredibly proud of the professional representation and personalized service our agents bring to their clients. We get to help people go from where they are to where they want to be and I don’t know anything better than that.
I started Domain Properties in 2002. We have eight Realtor agents and seven referral agents. I’m very excited about our growth in commercial real estate representation. Domain Properties brings a smart, hands-on approach to our commercial work, making us a well-balanced residential/commercial brokerage.
PBN: What’s been one of the most satisfying moments in your business career when it comes to property sales and the growth of your company, and why?
CARBONE: Several years ago, I had to close my firm to take care of my parents in their final years of life. After my parents passed, I was able to reopen Domain Properties. Having the opportunity to restart your business with the new enthusiasm of an ingénue coupled with the wisdom of a seasoned professional is a magic combination. I was able to reimagine my business and focus on building a boutique brokerage that specializes in highly personalized service to deliver results for my clients and professional growth for my agents.
Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.
