Personality: John S. Finn Jr.
12/19/2014, 6 a.m.
John S. (for Sylvester) Finn Jr. is an old hand in the real estate business.
In his 40 years in the field, he has done everything from building new houses to finding financing for families seeking to buy their first home.
He loves being involved in helping “people realize their dream” of home ownership.
Long and varied experience has propelled the 57-year-old real estate veteran into his latest role.
He recently was installed as president of the Richmond Association of Realtors, a 4,000-member trade association for brokers and agents in the metropolitan area.
He is the first African-American to hold the association’s top volunteer post and brings leadership diversity to an organization with a diverse membership.
He has ambitious plans. His goal is to increase RAR’s “visibility as one of the primary advocates for affordable housing” and to build online innovations to enable agents to do a better job for buyers and sellers.
Mr. Finn comes from a family with deep roots in the field. He says two great-grandparents were involved in construction and real estate as was his grandfather and his father.
He says he got his feet wet in real estate working on job sites for his father, a home builder.
He recalls when he got interested in the sales and marketing side. “I was working on one of my dad’s construction sites, and a guy in a suit drove up in a big car to see my father. Later, my dad told me the guy was a Realtor. I figured that had to beat nailing shingles in 90-degree heat.”
After graduating from Virginia Commonwealth University, Mr. Finn entered the world of property sales.
He learned the ins and outs of the business working as a sales agent at various real estate firms. He also took specialty courses to gain certifications as an agent and broker.
In 1997, he launched his own company, Dominion First Realty, and has never looked back.
He credits “education and persistence” as the keys to his success.
A close-up of this week’s Personality, John S. Finn Jr.:
Occupation: Real estate broker.
Date and place of birth: Aug. 26, in Richmond.
Neighborhood of residence: Bon Air.
Alma mater: Virginia Commonwealth University.
Family: Wife, Lorri, and sons, Antonio and John III.
When elected president of RAR: November 2014.
Length of term: One year.
When I was installed: Dec. 10, 2014.
Position before presidency: President-elect.
RAR’s role: RAR manages the Central Virginia Regional Multiple Listing Service, an MLS serving more than 4,700 Realtors in 16 jurisdictions.
RAR’s mission: To provide our members with the resources, services and community engagement they need to conduct ethical, professional and profitable businesses. We constantly promote the image of Realtors as valuable professionals essential to the real estate transaction.
Role RAR plays in community: RAR works to enhance the professionalism of Realtors through extensive educational offerings and professional development/risk management services. Because we believe that people will not buy houses until they have first bought into the community’s quality of life, we are deeply engaged in initiatives designed to improve our regional community. These activities include advocating for affordable housing, seeking to ameliorate and deconcentrate poverty and seeking to enhance educational opportunities for all.
Role Realtors play: Realtors guide their clients through the most important financial transaction most people will ever make — the purchase of a home. In addition to our professional efforts, we are deeply engaged in civic affairs and volunteer efforts of every kind.
Why Realtors are needed: For most people, their house is their chief asset. Moreover, a home is one of the most stabilizing forces in one’s life. Therefore, it’s critically important that a professional provide guidance in the purchase of a home. Real estate transactions have become more and more complicated. Realtors are experienced in navigating these complexities and work to ensure that their clients’ best interests are met.
My No. 1 objective as president: To ensure that RAR’s public role as a policy advocate and leader in quality of life initiatives remains strong and vibrant. I also want to make sure that we continue to equip our members with the technology and education they need to succeed.
How I plan to meet it: I will meet this goal by working with RAR’s staff to ensure that our educational programming and technology offerings are second to none. I will use the public forums afforded me as president to increase RAR’s visibility as one of the primary advocates of affordable housing in our region.
Why I am excited about this organization: Because it’s an organization that never, ever rests on its laurels. We’re always looking up and out. We’re always looking to innovate. And in everything we do, there is a constant pursuit of excellence. Finally, we have a servant leadership mentality. We’re always asking, “How can we best serve our members and our community?”
What RAR does to educate consumers about mortgages: Typically, RAR works to educate its members about changes in financing regulations. RAR also writes occasional columns about housing finance and these columns are directed to consumers. Recently, we integrated a program called Down Payment Resource into our home listing database. The goal of this product is to provide agents with a list of all of the programs in our region that provide down payment assistance and to match clients with homes for sale.
What Realtors do: Realtors seek to stay abreast of the latest financing programs. Our best service is to provide our clients with the names of multiple mortgage lending professionals who can assess their needs and match them with the right loan product.
Help they can provide to ensure a client can afford a home: It’s really important that folks looking to buy a home be honest with their Realtor. The more the Realtor knows, the more the Realtor can show them houses in their price range that won’t stretch them too far.
How I describe what I do: I help people realize their dreams and build a strong foundation for their future.
How I felt when I sold my first property: Interestingly, the same way I feel today more than 1,000 properties later. The thrill I feel when I see a home buyer realize, “This is the one,” never diminishes.
Impact of Great Recession on RAR, on Realtors, on me: For RAR, it meant a loss of 20 percent of our membership, so we tightened our belt. But membership is growing now. For Realtors, it was a really long, hard struggle. Many left the business. Many Realtors learned more than they ever wanted to know about short sales and foreclosures. For me, the recession forced me to work harder than ever before and be grateful for what I have.
Strength of housing market in Richmond metro area: We have definitely recovered from the recession. We’d like to see a more robust, first-time home buyer market, but we’re seeing stable, positive price appreciation year after year, and that’s a very good thing.
What it takes to be successful in the field: Education and persistence.
I’m driven by: My desire to serve. Also, by my enduring love for my family, this community and the industry I have been a part of for almost 40 years.
How I unwind: Virginia Commonwealth University basketball, golf and “Da Bears!” Even though “Da Bears” are causing a fair share of my anxiety this year.
Quality I value most in other people: Honesty over all others!
The person who influenced me the most: My father! I never make a major decision without seeking his counsel.
Best time of my life: I believe I am living it today.
If I’ve learned one thing, it is: If you do it today, you won’t forget to do it tomorrow.
My next goal: To lead Central Virginia’s largest trade organization to another outstanding year serving this great community that has always been my home!