11/16/03
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Name: Lynn Dempsey Age: 51 Company: Dempsey Auction Co., specializes in real estate auctions Education: Bachelor’s of business administration, major in real estate from University of Georgia
‘I believe that business thrives on honest, good-faith dealings, and we’ve been blessed because this is a very religiously-oriented region.’
What do you see happening in the U.S. economy? We’re approaching election year. I don’t remember an off presidential election year. I think these tax cuts have phased in and had a real effect on our economy. People are investing in the stock market again. It’s really doing well, but the last year to year and a half has really turned people’s eyes toward real estate. I don’t think there’s a better real estate market in the Southeast than within an hour of Atlanta in any direction.
How is that affecting business in Northwest Georgia? It’s simply the best economy I can remember since I’ve been in business for 30 years. Since the Olympics came to Atlanta in 1996 this has become a world market that it wasn’t before. I’m very, very pleased with the evolution of the planning process in our community. That is central to continued upward pressure on the price of real estate.
What is the most surprising business trend you have seen in the past three years? Rome and Floyd County’s emergence as a real leader in industrial growth and expansion in Northwest Georgia and in the state. Rome and Floyd County have exhibited some very significant leadership and have been just a shining example for a public-private partnership. That was not where we were trending 10 years ago.
How has your business changed in that time? A rising tide lifts all boats. As business and industry find Rome-Floyd County and Northwest Georgia as a viable world market, it’s just putting us all in an enviable position. If you own, if you develop, if you speculate in real estate, it’s a good bet you’re going to do well.
What short-term changes do you see ahead for your company? Dealing with the growth. Planning for and managing growth. Success is one of the hardest things in the world to manage, because you can become a little lax or lackadaisical.
What is the long-term outlook for the company? The Internet has revolutionized our business. I feel like our purchasers are more prepared than they’ve ever been before by the information we can furnish them prior to auctioning these properties. I see a time in the next 10 years where most auctions will have a live-bid capacity through the Internet.
What do you see as Northwest Georgia’s greatest strength? Transportation, water and leadership. I’m going to add one. I think this region’s greatest strength is our churches. I believe that business thrives on honest, good-faith dealings, and we’ve been blessed because this is a very religiously-oriented region. Business thrives where you’ve got straight-forward, honest dealings. Talking to people in other parts of the country, that’s one of their greatest challenges.
What do you see as the region’s greatest weakness? A lack of vision. If we do not act as a region we will not be able to compete with those regions that are working together. Dalton, Rome, Cartersville, Calhoun are so used to being in competition with each other, but now it is very vital for us to work together in attracting new business and industry.
What experience best prepared you for your career? All in the world I have ever known is this business. It’s a family business. I’ve been going to auctions for as long as I can remember. I have come to believe that it’s just the best way in the world to market property, most types of real estate.
Who had the biggest influence on your career? I’ve been partners with my brother for 30 years. He’s the CEO of our company, Ray. He is the best example I know of an honest business man who’s excited about what he’s doing.
