TUCSON, AZ, April 28, 2023 -- John Carrol and his partner at Land Advisors Organization were awarded the Best-in-Class Award by Trend Report last year for their work in Tucson residential land sales for 2022. We asked John to tell us about his successes and how he got to where he is today in the competitive business of residential land sales.
This is what John had to say:
Tell us how you began in Commercial Real Estate.
Since high school, my dad always encouraged that I pursue a career in real estate appraisal. My interest in the industry grew during the Real Estate market crash in ’08. I was a student at the University of Arizona then, and a career advisor at Eller connected me with a local resale agent at Long Realty for an internship opportunity. I learned about the buying and selling process by analyzing resale data. I continued to be interested in the Real Estate industry and stumbled upon an internship during my senior year of college with Will White at Land Advisors Organization. Land Advisors has proprietary mapping and data technology that took my experience and knowledge deeper than I ever thought. Will offered me an opportunity after I graduated that I could not pass up, and here we are.
How long have you been doing what you’re doing?
I have been working in the industry for 12 years.
What tips do you suggest to someone just starting your business?
Find your niche and learn it inside and out.
What has been the most significant factor in your success?
Being proactive, willing to work harder than others, and constantly exploring new ideas.
What can you tell us about winners in your field? What does it take?
Dedication and problem-solving. If all the deals were easy, you wouldn’t learn and apply the knowledge to future deals.
Tell us about a teacher/mentor who impacted or set you on your current path.
There have been many people that helped shape me. However, the most memorable is my high school finance teacher, Brad Prather, teaching me the value of a dollar and the importance of finding a career you love, and you end up not working a day in your life.
What is your greatest career accomplishment?
Responsible growth is and will be my most significant career accomplishment. In addition, Tucson is a beautiful place to live, and people want to make Tucson their home.
What was your most recent biggest challenge faced that you overcame?
No one likes to give bad news. The biggest challenge lately is overcoming the fear of canceling a deal. No one wants to see an project crumble apart, but it usually opens a new door you weren’t likely to explore before.
What are your views on trends or pitfalls in the current Commercial Real Estate marketplace?
A trend I see in today’s market is seller patience. The past 24 months have put owners in a good position.
What is the most important question to ask a Buyer or Seller these days?
What is the current zoning of the property is an important question I ask today. Rezoning is challenging; if the property doesn’t have the proper zoning, the owner could face unexpected hurdles.
What is the most common type of client you typically work with?
We represent large master developers around the Tucson area. Our clients have been doing what they do for decades, and we can learn from them.
Is there one deal that stands out in your mind from last year that you would like to do again? And why?
It is too hard only to pick one deal as each one has its own complexities and rewards.
Please tell us what makes you successful.
Everyone has their perception of success. I am successful by being available to our clients, adaptable to unexpected changes, and open-minded to new ideas or thoughts.
What are you passionate about? What motivates you the most?
Seeing projects that have been planned for many years come to fruition. A few examples are La Estancia, Gladden Farms, and Rocking K. These projects were only concepts when I was a young boy. Being a part of the initial groundbreaking motivates me to continue finding the next project that will help highlight Tucson’s best qualities.
Where do you see the Market going this year?
This is a tricky question as it can be a two-prong approach. Based on Historical permits for Q1 2023, we would be slowing from last year, but knowing many new projects will open in the next few months. I believe we will see a considerable amount of new activity in the 2nd half. But, on the other hand, the region could run into a big challenge in 2025 if we don’t get ahead on the land buying.
Thank you, John.
This is the fifth in a series of interviews with our best commercial real estate leaders. All Trend Report’s Best-in-Class Broker Awards were awarded based exclusively on sales volume transaction data from the RED Comps commercial real estate database, the most accurate, independently researched database of commercial real estate property sales information available for Southern Arizona.
To learn more, see Trend Report 2022 Best-In-Class Awards - Trend Report (trendreportaz.com)