COVER STORY
Terrie O ’ Connor is a Leader in New Jersey ’ s Real Estate Market
She expects a strong 2021 and her team is ready .
By Diane C . Walsh Contributing Editor
Terrie O ’ Connor knows a thing or two
about the real estate industry . The business she established in 1991 — Terrie O ’ Connor Realtors — has earned a reputation as one of the leading Northern New Jersey realtors .
She is the past chair and first woman to serve as president of the Builders Association of Northern New Jersey . And there were many occasions when she was called as an expert witness before zoning and planning boards .
But even O ’ Connor was stunned when the residential real estate market exploded last spring — unlike many other businesses that were crushed in the COVID‐19 pandemic . “ I was happily stunned ,” she admits .
Nonetheless , the pandemic brought personal tragedy because O ’ Connor ’ s husband , Tom , died from the virus in April . In the early days of the shutdown , O ’ Connor was mourning his death . But she vividly recalls telling her staff on a conference call : “ I may have lost my husband to this disease but I ’ m not going to lose the company I started — after 30 years — to this disease , too .”
Her 40 full-time employees and more than 400 agents met her challenge by adjusting and adapting to the new norm . “ It was an amazing collaborative effort and tribute to their willingness to make it work ,” says O ’ Connor , who estimated her firm will close out 2020 about 20 percent higher than the previous year .
The market surge began in May when demand from buyers living in congested urban areas like Brooklyn , Jersey City , Hoboken , Union City and even the Bronx , created a sudden outflow . “ We had people buying houses sight unseen ,” O ’ Connor says . By tapping in-house talent , she said her office was “ poised to pivot ” to the demand .
She credits her son , Matthew , the company ’ s tech savvy COO , with enabling Terrie O ’ Connor Realtors to fully embrace the new virtual world . Buyers were drawn by 3D tours they could take from the safety of their personal computers . Realtors have been employing technology for years . “ But we leaped light years ahead ,” O ’ Connor says . “ We had to figure it out to survive .”
Aerial drone photography also enhanced the way Terrie O ’ Connor Realtors marketed properties . The agency was always praised for utilizing beautiful photography and for this O ’ Connor credits the exceptional talents of her son , Joe
Terrie O ’ Connor Realtors President / Broker Terrie O ’ Connor
O ’ Connor , a professional photographer , who also deployed the drones and produced captivating videos .
Her real estate school also succeeded in transitioning to online classes due to the efforts of her daughter , Katy O ’ Connor Smiechowski and Brittani Bunney . The newly promoted vice president and general manager is Sarah Drennan .
I want to get up every morning and be excited about the people I work with .
Operating in the new norm also required Terrie O ’ Connor Realtors to adjust to the differing regulations imposed by the two states in which it works . New Jersey Governor Phil Murphy deemed realtors “ essential workers ” and allowed them to continue to show houses under strict guidelines . Prospective buyers had to be pre-approved with a serious interest before a tour was arranged . But New York forbade showing houses and threatened realtors with fines if they violated the edict .
Quickly , Terrie O ’ Connor Realtors — with its offices in Allendale , Kinnelon , Ramsey , Ridgewood , Saddle River , Upper Saddle River and Wyckoff / Franklin Lakes — learned how to navigate through the complications . “ It ’ s a tribute to a great team ,” says O ’ Connor , who is proud of the niche her company enjoys as one of the largest independent operations in the region .
As the daughter and wife of U . S . Naval officers , O ’ Connor likes to use naval references . Her analogy of her business ’ efficacy draws on her background . “ We can pivot because we ’ re not a huge aircraft carrier — and not a small PT boat like we used to be . We ’ re a destroyer still able to swiftly adapt to the changing markets ,” she says .
Despite the upheaval of the last year , O ’ Connor has not lost her enthusiasm for the work . She remembers her husband and father were worried when she decided to open her own business . “ But I told them I want to get up every morning and be excited about the people I work with ,” she says , explaining her staff shares her work ethic and her values .
Protecting and maintaining her staff was one of the reasons why O ’ Connor obtained a loan under the federal Paycheck Protection Program . The funding allowed her to keep all full-time
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