James DuMars, senior vice president/managing director of NorthMarq’s Phoenix office shed some light on the current pandemic in a Commercial Executive Magazine feature titled “The Art of the Pivot.” Discussing his experience getting through previous market upheavals, such as the Savings & Loan Crisis and the Great Recession, DuMars looks into what might be instore for a post-pandemic world.
“I was a college intern at an investment sales firm during the S&L crisis. As the market downturn persisted, I saw establishment professionals at the firm losing cars and luxury homes back to the bank, and in some cases even their life savings they had invested in overleveraged real estate,” said DuMars. “Seeing this had a profound effect on me. Several years later when I was 31, I had my first big year as a top producer for NorthMarq, and instead of spending on a new home and car, I took my first large bonus and paid off all my debts. This gave me clarity and allowed me to focus on my customers’ needs instead of worrying about my financial needs.”