Hiie Tamm, 20 Years as a Domus Real Estate Agent: "Worrying is Completely Pointless!"

Domus' brightest broker Hiie Tamm celebrated 20 years at Domus Real Estate this January! A few days ago, Hiie won the "Secondary Market Transaction Revenue Queen 2022" title at Domus' Kick Off award gala, which summed up the previous year.

We asked Hiie, who has worked in the real estate sector for a long time and witnessed many different times, what she thinks about the current situation on the real estate market.

Hiie, you recently celebrated 20 years as a broker at Domus Real Estate. What fascinates you most about the work of a real estate broker?

The freedom to plan my own time. This is very personal work where you have to rely a lot on yourself, but at the same time it is very important to have a supportive and unified team. I also enjoy it when I feel that I have been able to help a client and have helped fulfill their dream. For most people, one of the most important dreams in life is to build a home they like.

What would you say to people who are thinking about buying or exchanging a home right now, but have been waiting?

The real estate sector is experiencing difficult times and record-high inflation. Secondary market apartment sale prices have fallen slightly, new development prices have rather stayed at the same level due to the fact that new projects have been suspended. Under these conditions, and really always, it is worth making a well-thought-out decision when buying a home. You need to familiarize yourself with all the expenses that come with housing (home insurance, rising utility costs, mortgage payments increasing due to rising Euribor). If you have thought things through for yourself and are able to service the loan you are taking, then I would say that there is always a right time to buy a home. It is also good that there is much more choice on the real estate market than a year ago.

You operate on the Tallinn and Harjumaa real estate market. What kind of homes are people looking for now, where do they want to live?

Based on my personal experience, I can say that people are looking for nice rural properties outside the city, where there is more privacy – a small 100 m2 house in the countryside with a plot larger than 1 hectare, while having all the conditions for comfortable living. Distance from Tallinn 30-50 km and price range 250,000 euros. Very popular are also apartments in new or almost new buildings, but only if the price seems right to the buyer. In general, today's buyer is very price-sensitive and price-aware.

Which areas remain popular?

In Tallinn, the city center, Kadriorg, North Tallinn, and Kristiine are still in demand. At the same time, people are willing to change their original wishes if they find equivalent living space in another area at a better price.

Over these years, you have certainly built up a very large network of contacts, many of whom have remained your regular clients. What do you offer your clients and how do you keep them so they come back to you again and again?

I try to remain calm in every situation. I don't pretend to be someone else, I am sincere, open to compromise, and keep my heart open. I am positive and friendly. I really empathize and try to find good solutions, no matter how hopeless a situation may seem, I don't give up until I have tried everything. In my opinion, there are no silly questions and I try to find answers to all questions.

But what qualities should a good broker have in general, if they want to build a career in the real estate field?

One must have a positive attitude toward life, be very hardworking and disciplined (by nature, people are rather lazy anyway). I also have times when I am more active, and then times when I take it easier. But to succeed in the long run, it helps if you are somewhat ambitious, have good intuition, are polite, confident, quick-thinking, and extremely determined. I consider the ability to communicate with people very important. And of course, that inner something that you are born with and cannot be taught – you have to be a person for that. If the spark is there, why not?!

As a long-time broker, you have seen very different times on the real estate market – ups and downs. What have these times taught you the most?

When times are easier, you already know that it may not last long. During difficult times, you have to pull yourself together and maintain more focus on your goals, act more systematically and purposefully. One thing, for example, is time management. I have always found that difficult, I tend to dream too much and my thoughts wander. In a nutshell, you have to work more and keep your focus.

Does the situation on the real estate market worry you, or are you still optimistic and see opportunities instead of problems?

That's what they say, that there are opportunities too. You really just have to work hard and then opportunities come. I know that after difficult times, easier times come and vice versa. So there's no point in worrying. Worrying is generally a pointless activity! Of course, everyone worries from time to time. This reminded me of an anecdote told by a colleague: "What's the difference between a pessimist and an optimist? A pessimist is a well-informed optimist. An optimist is a well-instructed pessimist".

Do you have any good advice for those who want to put their home up for sale in the current market situation?

Homes have been sold and bought at all times, there is no need to be afraid. It may happen that you sell your apartment at a much better price than expected, and when buying a new one, you make a very financially successful deal, because there are more offers and the price can be negotiated to some extent.

So when selling, is it wise to hire a broker?

A broker, as someone who understands the market, sets the right selling price and represents your interests as a seller. It is very likely that by selling through a broker, you as an owner will actually gain financially from the transaction. Elsewhere in the world, using a broker's services is completely natural, here in Estonia it is often thought that you can manage on your own. However, to reach a deal, today you need to invest more in good marketing and advertising. In addition, an experienced broker has a large network of contacts, which helps get information about the property's sale to a much wider range of people than you could reach on your own. For most people, selling their own home is one of the most important and largest financial decisions in their lives. If you have a professional broker by your side throughout the entire process, who helps you go through this complex and nerve-wracking process calmly and carefree, so that later all parties could be satisfied.

You have worked as a broker for 20 years, how did you even get into the real estate field and what has kept you at Domus Real Estate for so long?

I had thought about working in the real estate field before, but a good acquaintance who worked as a broker here invited me to work at Domus Real Estate. When I think about how long I have been working in Domus… I would say that it just turned out that way for one reason or another. The main reason is probably that I have been able to be myself. At Domus, there is a good and calm atmosphere, very understanding management, and friendly colleagues. A cohesive and friendly team that is nice to be with both at work and when spending time off together.

What would you recommend to those who are thinking about starting as a broker now?

Much has changed, but one thing has remained the same – you need strong will and determination. You must not give up easily and throw in the towel. You must believe in yourself. Who will believe in you if you don't believe in yourself?