Ron McColly's strong work ethic goes back to his
early years growing up in Gary.
McColly, 75, president of McColly Real Estate and a
2019 inductee into the Northwest Indiana Business & Industry
Hall of Fame, began his work career at an age when most youngsters
are just starting school.
"I worked as a stock boy in the grocery store at
age 6," McColly said.
His grandparents, Cora and Fred McColly, owned Gary a
grocery store called Belmont Grocery and a bowling alley called
Ridge Lanes. McColly worked at both.
"I got into a working habit and a saving habit at
a young age," he said.
McColly started working at the bowling alley in his
teens, first performing general duties then later bartending.
McColly later also worked for a family-owned funeral home called
Linton and McColly Funeral Home in Glen Park.
At the funeral home, McColly's work included
ambulance trips and parking cars when there were funerals.
As a youth McColly also had a paper route.
"I liked collecting the most," he said of
that job.
McColly, who graduated from Lew Wallace High School
and attended Indiana University, said his success hasn't been
fueled by just his strong work ethic but also by his habit of
reading.
"The number-one thing in life is reading. You
need to educate yourself every day," McColly said.
Reading even played a role in his quest to receive
financial assistance from his grandmother in 1974, when McColly
wanted to start his real estate business.
"The ironic part was when I asked my grandmother
for a loan she said she only had one stipulation: that I subscribe
to the Chicago Tribune," McColly said, adding,"I read
three newspapers to this day. I think reading is a big part of
life."
Some fellows he met at the bowling alley who were in
the real estate business talked him into getting his real estate
license.
"They told me if I got my real estate license
they would train me," McColly said.
McColly began working in real estate at age 24 and
started his own company at age 30.
McColly Real Estate, now the largest independent
residential real estate company in Northwest Indiana and the
Chicago Southland, is part of McColly Companies, which includes
Community Title, McColly Bennett Commercial, McColly Insurance,
McColly Auctions and the the McColly School of Real Estate.
It is an exclusive member of Leading Real Estate
Companies of the World, a prestigious global network that includes
Luxury Portfolio International, according to the company's
website. McColly Real Estate is annually recognized among the
top brokers in the U.S. in the RealTrends 500 Broker Report,
ranking No. 161 nationally for closed transaction sides for
year-end 2018.
McColly Real Estate includes 23 offices, with 470
broker associates and 100 employees.
Lifelong learning
Newspapers, including the reading of columnist Ann
Landers, continued to play a part in McColly's adult life.
McColly lists Landers among the people who have
influenced him the most.
"I'd start with Ann Landers. I read her
column for 25 years," McColly said.
Others McColly considers mentors include Albert
Einstein and Jack Bogle, founder and retired chief executive of the
Vanguard Group.
McColly said Bogle is also responsible for one of the
quotes he likes to keep in mind: "Don't look for the
needle in the haystack, buy the haystack."
"It you learn on a continuous basis, good things
will happen. Mentors are so important," McColly said.
Investors Warren Buffet and Charlie Munger, Microsoft
founder Bill Gates and the late Dean White, whom Forbes magazine
called a "real estate and advertising kingpin," are also
among
"One of the biggest mistakes I see is learning
from our experiences instead of learning from others," McColly
said.
After opening his real estate business in 1974,
McColly joined a national franchise in 1976.
His company joined the Better Homes and Garden network
in 1986 and in 2003 became an independent company.
Between 2007 to 2011, the real estate business in
general went through some tough times with the Real Estate
bubble," McColly said.
"They made sub prime loans and everyone
qualified," McColly said.
Things started to change in 2012 for the better.
"There's a shortage of homes right now,"
McColly said, adding, "Anything close to the state line is hot
right now including St. John, Crown Point and Munster. We're
lucky to be in close proximity to Chicago," McColly said.
In his spare time, McColly enjoys golfing and reading
and also attending conventions and educational seminars.
"What I get the most satisfaction from is being
successful and learning things I need to learn. You probably learn
more from the mistakes you make than the good things you do,"
McColly said.
McColly said he also gets a great deal of satisfaction
out of helping others become successful.
"That's because the people I met in the
bowling alley helped me," McColly said.
In addition to starting his own real estate company,
McColly in 2004 purchased Innsbook Country Club in
Merrillville.
"Myself and a partner purchased it and did
extensive improvements," McColly said.
Why go into real estate? McColly said the three
biggest necessities in life are food, shelter and clothing.
"Shelter is the best. It's a big thing and
will never go out of style," McColly said.
What sets McColly Real Estate apart from other
companies?
"What makes us different is we're
independent. There is brand loyalty," McColly said.
What set apart him in his early years as a
Realtor?
"Forty-eight out of 52 Sundays I had an open
house. I'd say those open houses were the No. 1 thing to start
out. You have to get out and meet people. That's what makes the
difference," McColly said.
'A stalwart business leader'
Pat Huber, former president of the Crown Point
Community Foundation, said she delayed her retirement to help with
the fund-raising campaign for the newly launched Dean and Barbara
White Southlake Family YMCA in Crown Point.
Ron McColly was one of those individuals Huber knew
she could count on to contribute.
"Because I knew quite a people I reached out to
Ron McColly," Huber said.
Huber called McColly a visionary.
"I think he sees beyond just like Mr. White or
any entrepreneur," Huber said.
Recreational amenities, like the new YMCA as well as
good school and good hospitals, are a wonderful incentives to draw
people into communities and good tools to be used by Realtors.
"Those are huge pieces to get people to move to
Northwest Indiana. It's a huge point for Ron McColly. He is a
really smart man. He is extremely intelligent and very well
read," Huber said.
"He (McColly) is just a great community guy. He
always calls you back," Huber said.
Peoples Bank Executive Chairman David Bochnowski
called Ron McColly "a stalwart business leader in Northwest
Indiana."
"His business has moved so many people into their
dream homes. Their presence has been a dominant one as far as home
sales," Bochnowski said.
"Ron is just an honest, trustworthy guy and that
translates into all those who work for him," Bochnowski
said.
His firm has a well-deserved position in the
community, Bochnowski said.
"He is so modest for a guy who has been so
successful. Whenever I might meet him he has a new idea about how
Northwest Indiana can propel itself forward. Improving the quality
of life and place is always at the top of his mind for him whether
its in a casual setting or formal," Bochnowski said.