If you paid any attention at all to local news in Rhode Island over the last 20 or so years, there’s a good chance you’re familiar with Walt Buteau, who was a top investigative reporter at Channel 12 and also produced the fantastic weekly “Street Stories” segment that has earned more trophies than his beloved Golden State Warriors.
Buteau has recently launched a new career as a sales associate with Residential Properties, where he wants to help people purchase and sell their homes in Rhode Island and Massachusetts. I wanted to know how Buteau is settling into his new job, and how real estate compares to journalism.
Q: You were a longtime investigative reporter (and my colleague) at Channel 12, but you moved for a big reporting job in Tampa Bay a couple of years ago. What made you decide to leave the TV industry altogether?
Buteau: I almost left journalism 10 years ago and five years ago, and probably a few times before, after, and in-between. The timing was right after my final contract ended. The reasons vary from a desire for a different sort of challenge to an entrepreneurial spirit I’ve had since my first job in journalism as a paperboy. I want to build a business that I control. It can be as big as I want, all depending on how hard I work. And as my new clients will find out, I will work hard.
Q: You’ve played around in real estate in the past, but this is now a full-time job for you. Are there any similarities between TV and selling properties?
Buteau: Both businesses start with people skills, often with strangers who learn to trust you. Deciphering data is vital when coming up with suggested prices for buyers or sellers, and it’s also important in journalism. News stories and purchase and sales agreements both start with a lead of some sort. But as I sat at my new desk on day one chasing leads for new business, one big connection hit me. In both journalism and real estate, we hear “no” a lot. The question is, how hard will you work and what skills do you have to turn “no” into “yes?”
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Q: I feel like you have a unique advantage when it comes to selling homes because you have better insight than most into school systems and other key issues that drive the decisions families make. How are you going to use that experience in your new job?
Buteau: Knowing a lot about our awesome communities in Rhode Island and Massachusetts, from geography to restaurants to education, is a definite advantage. Helping someone put together the pieces of price, house size, location, schools, and everything else is part of the fun. I love the idea of helping to solve that puzzle, ending with the feeling a new home brings for someone.
Q: I’m curious about your thoughts about Rhode Island’s overall housing crisis. It seems like houses are still easily being sold, but there’s a huge shortage on the supply side. What needs to happen to address this challenge?
Buteau: It’s a combination of homeowners unwilling to give up their existing mortgage rates while also fearing they won’t find suitable new homes. The problem feeds on itself with many thinking they can’t sell if there’s nothing to buy. Lower rates could help break that logjam. Another shift could involve homeowners who’ve outgrown their property deciding they’ll put up with higher rates and refinance later. I think retirees, who could sell and have cash to buy somewhere else, could also prompt a supply uptick. No matter what, it will not last forever.
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This story first appeared in Rhode Map, our free newsletter about Rhode Island that also contains information about local events, links to interesting stories, and more. If you’d like to receive it via e-mail Monday through Friday, you can sign up here.
Dan McGowan can be reached at dan.mcgowan@globe.com. Follow him @danmcgowan.