BILL Duggan of Paramount Properties understands the value of helping others achieve their dreams. by Sally Walker, photography by VIP Photography
As a successful real estate agent for more than 25 years, he works diligently to make sure his clients receive the highest level of respect and service.
The oldest of five children, Bill grew up on a farm in Sentinel, OK. Although raised in the country, he always knew he was a city boy at heart. In 1966, Bill took a vacation to Southern California, loved the weather and the lifestyle and decided to call Los Angeles home.
As a young adult, Bill worked for a plastics company as a customer service representative and an outside sales engineer. Because plastic is a petroleum based product, during the oil crisis in the mid-1970's, business was slow and left him time to peruse other interests. As he explained, "Business was slow, so I had time to get my license. I started selling real estate on the side for a year. When the oil crisis ended and business picked up, I realized I liked real estate better and decided to stay with it."
His background has helped him establish himself as a real estate professional that is dedicated to helping his customers. His early sales experience gave him the necessary skills to understand what his clients want from their agent and to understand what they truly want in a home. "Many of my clients aren't sure exactly what they are looking for when they first come to me. They may be family conscious, or know that curb appeal and location are important, but don't equate that into what they want their next home to look like." Bill continued, "There are factors, or hot buttons, each buyer has and may not realize. It is my responsibility to determine which kind of buyers I have and what their real motivation is and to find them the property of their choice."
From his 25 plus years in the business, he understands how stressful the real estate purchasing process can be. He considers it his responsibility to help his clients make informed decisions. "Many times the buyer is a bit apprehensive about the sales process. I stress to them how easy this really is and then walk them through the entire operation. I can calm my clents down to make the purchasing experience a pleasant one," Bill stated. "The same goes for sellers. I always sit down with them and find out what their goals are. They either want to move up, down or out and work with them to get the best price for their home."
Although Bill works closely with buyers and sellers, specializing in single family homes in San Fernando, Simi and Santa Clarita Valleys, he also has found a niche working with real estate investors. His business acumen is an asset for his clients. A rental property owner himself, he as attracted many of Southern California's real estate investors. Working with his landlord clients, he can analyze the property's profitability and consult them on the best course of action for such issues as investment purchases, repairs or tax consequences. He said, "I can tell them aything they want to know about tenants and rental rates. I know what an air conditioner costs and what a sprinker costs. Because I have to do it for my own investments, I know what things cost and how to analyze this information to get the best return. The investor needs to know the tax ramifications and strategy of selling and the tax advantages of an IRS 1031 exchange. I can give them that information."
If being in the top 1 percent of Paramount Properties' agents and selling on average 60 homes each year wasn't challenging enough, Bill has branched his real estate business into property management division under the name of Duggan Property Management. He currently manages 100 properties. Bill noted, "I am known as the 'Landlord's Broker.' I am my client's go-to place with regard to anything to do with rental properties. I have gotten the majority of my property management clients because my landlords have problems with their tenants and are looking for me to solve a difficult situation. I educate my clients and tenants and make them understand their contract. I do the things my clients don't want to do. Many of the landlords I represent don't live in the Valley, so I handle everything from fixing up to selling or leasing."
Like any smart entrepreneur, Bill has formed a team and delegates many of the business responsibilities to his two assistants. "I prefer to work on the harder or more demanding aspects of contract negotiation or problem solving and leave the routine work to my assistants. It allows me to focus on the tougher problems such as non payment of rent, check bouncing, repairs analysis." Bill added, "Although we are all cross-trained, having Jana and Teresa allows me to work smarter and enjoy life more."
Jana Davis has worked with Bill for more than 7 years. A licensed agent, she handles most of the inside office business including the escrows and property management. Bill said, "Jana is personable. She can charm irate tenants and handle adversity. She is excellent at that." Teresa Morlang has worked with bill for 2 years. She primarily handles advertising, Bill's Internet site and rentals. "Teresa has fit in perfectly. She is easy going and gets along with everyone. She has taken more of a leadership role and a decision making role as she has gained experience." Bill said.
Bill love the challenge every day brings him. "Even thought I come to the office every day, I don't think of it as 'coming to the office.' I love being my own boss. If I am good at what I do, I am rewarded for it through more business. I know when I have done a good job and solved my client's problems. Most owners understand what it takes to run a property and are appreciative." Bill explained.
Bill has been married for more than 30 years to his wife, Mary. She is an office manager for a chain of surf and ski stores. Their son, Andy, is a film editor. When not selling or managing real estate, Bill can be found on the golf course. Mary and Bill love to travel. "We try to take one long vacation a year. The last three years these have been cruises to Italy, Russia and the east coast of the USA, as well as quick weekend getaways when time permits." Bill said.
Bill's dedication to helping others has made him a success. His knowledge of real estate, coupled with his own experiences in owning investment property, has allowed him to relate to a diverse client base. The secret to his success? Bill summed it up: "I don't look at each phone call as a sales opportunity. If I can answer their questions, I want them to feel comfortable so they will come back again. I want to treat them as I want to be treated."