Family tradition continues at Horace Broome Real Estate

By Greg Miller
STAR STAFF
gmiller@starhq.com

   The family tradition continues at Horace Broome Real Estate, which was started by Horace and Grace Broome in 1960.
   "They had an insurance company and a real estate company," said Rick Broome, one of the couple's two sons who are in the business. "Then they dropped their insurance and switched strictly to the real estate."
   When Horace got his real estate license in 1957, Rick was just four years old. Rick was six years old when Horace opened his own office. "I remember that my dad had his office in the front of his house, similar to what we have here now," Rick said. "When I was six and seven years old, we had the same telephone number for the office and for our house. We were told that if we were in the house and the phone rang before 5 o'clock, we were to answer as 'Broome Real Estate,' but if it was after 5, we could just say 'hello,' because we had a phone in the office and one back in our house."
   Rick received his affiliate broker's license in 1994. By 1998, he had his broker's license. "I am now the managing broker of the office," Rick said, "but I've been around it all my life."
   Horace and Grace had a "big influence" on Rick entering the real estate business. "I've always wanted to get into it," he said. "I've done a little bit of everything through the years. About eight or nine years ago, I decided, 'I'm killing myself out here for everybody else. I ought to try it for myself. I have a business already set up. I have a father and a mother and a brother who are in it. I'm very fortunate that I have that experience behind me.' I already had a little knowledge of the real estate business just from being around it all my life. They were a big influence on me and a very big help, and I've leaned on them quite a bit."
   Last year, sales were "relatively slow, as far as my office goes," Rick said. "The Sept. 11 terrorist attack really had an impact on all of us. Prior to that, real estate was good through the first part and sort of mellowed out through the middle of the year. When the terrorist attack came, sales became real slow. Last year wasn't one of my banner years, but it was a good steady year."
   Broome is anticipating slow sales early this year. "But the economy, according to the specialists, as far as (Federal Reserve Chairman Alan) Greenspan is concerned, is in an upward trend. Interest rates are extremely low. It is a buyer's market out there, because there's more houses on the market than there has ever been. So I'm looking for good things for this coming year. I've already had a good January and February, and I'm hoping it will continue."
   Rick says additional industry is needed in Elizabethton, "not only for my business, but for tax rates, etc. We're losing a lot of business, and I think that's going to hurt this area. I think we need to get some new industries in here. If we can do that, the city will continue to grow."
   Rick is a registered trainee appraiser. He will be taking his license later this year to become a licensed appraiser.
   Rick's brother, Bubba, is a licensed real estate agent, as well an appraiser.
   Horace Broome Real Estate is located at 704 Third St., Elizabethton. For more information, call 542-4386 or log onto the Web site, broomere@preferred.com.