By CALLIE DANIELS BRYANT
Residing in Jackson is a third-generation Realtor, Tommy Payne, who is the broker associate and the promising successor to the 58-year old Payne Realty, which serves the Madison, Hinds, and Rankin counties.
“I ‘grew up’ in the business you could say,” Payne said. “Having the chance to work with my dad and to be the third generation of my family to join the company was a very exciting opportunity for me after graduating (from Mississippi State University), and I would consider that my inspiration. I always knew in the back of my mind this is what I wanted to do.”
His grandmother opened the business in 1960 as a full-time residential sales agency with the help of his grandfather who was an attorney. In 1972, after serving in the United States Navy, his father, Bruce Payne, worked for the family business which then had a “natural transition into commercial brokerage as well as keeping our residential side active.”
Payne said that as part of the business he will be active in all areas including commercial leasing and sales, residential leasing and sales, and management.
“But if I had to choose a specialization it would be the business development and investment side,” he said.
As a third-generation realtor Payne has balanced family wisdom with continuing education.
“Every day is different and I am able to learn something new every day,” he said, “especially from my dad and his experience. I’ve had a chance to be active in our local and statewide Realtor associations, as well as national associations such as CCIM (certified commercial investment member). Networking and learning from these associations have helped me grow into this business as well.”
Payne also holds a business administration degree with majors in management of construction and land development and also in risk management, insurance and financial planning.
He said, “MCL, as we called it, covered a wide range of industry from light construction to landscape contracting and real estate. I chose it because it had the real estate aspect that I already had an interest in and other parts that I would more than likely be indirectly involved with from a business standpoint.”
Payne recalls a senior level financing class that he chose as an elective. “It was a very challenging class but not necessarily something with material that I used on a daily basis,” he said. “But as I started to become more involved with the investment side of real estate business I’ve found myself relying on a lot of information I’ve covered there.”
Since graduating in 2012, received his GRI designation in 2013 and became a CCIM candidate that year. This year he earned the prestigious CCIM designation which signifies expertise in commercial real estate profession. This same year he also served as the president of the Mississippi Commercial Association of Realtors.
Like his achievements so far, Payne has set the bar high for the family business.
“[I want ] to be the most successful full service real estate firm that we are capable of being. There’s not an area of the business we don’t want to be involved with. We also have goals for expansion that we are taking steps towards,” he said.
He is proud of Payne Realty for involvement in the brokerage of residential and commercial development in the tri-county area in the past several years, and is excited to see new development.
“I think there are definitely more real estate opportunities offered here in Mississippi than people may assume,” Payne said. “There are still areas of the metro that are not developed, but I think that you will see some of that start to change especially with some recently publicized tax incentives in certain areas that could be offered as soon as this year. I have an optimistic outlook with the way things seem to be trending locally and nationally.”
He adds that being in the business for six years as well as growing up in Jackson has made new development within the city as well as nearby towns in the tri-county areas exciting for him, and he has been proud to be a part of brokerage for those projects.
“People on the outside looking in may not realize all the moving part it takes to get a real estate deal finalized,” he said. “From construction, law, insurance, and banking, etc. there are several industries involved that all play a significant role in getting a deal to a closing table.”
In the meantime, he is happy to have returned to Jackson, his beloved hometown.
“I’m excited to be back in Jackson and also excited to see some people my age start to move back into the metro area as well,” Payne said. “My fiancée and I plan on being here for a long time, and I am looking forward to seeing continued growth not only in the real estate industry but in other industries as well.”
Payne Realty is located at 113 Village Boulevard in Madison, and you can visit it online at paynerealtyms.com. Tommy Payne can be reached at (601) 940-9503.
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