Real Estate is Local… or Not?
First American Title is proud to announce we have moved our Longmont office to a new location. As of July 3rd, 2018 our office will be located in one of the premier office buildings in all of Longmont, The Roosevelt Building. We would like to thank Keith Burden of Burden Inc, the buildings’ owner and landlord and Christian Bordewick of Bank of Colorado for making this possible. We have tripled the size of our office and now have the room to expand. Our office is located at the corner of Longs Peak and Coffman and the address is 636 Coffman St, Suite 101 Longmont CO 80501. Our email and phone numbers did not change.
Thank you also to Kelli Flores, First American’s Statewide Escrow Manager, Brandon Smith, our Statewide Sales Manager, and Ryan Swed, First American’s State President for believing in our group and making this happen. We will miss our first office because it holds a special place in our hearts as that is where we launched our Longmont presence. First American signed the lease on our space on 4th Ave on July 3rd, 2017, 14 days later, on July 17, we were open for business. The one year anniversary of that momentous days is fast approaching, so look for some fun stuff from us. We are proud of our progress and happy to be able to deliver the best customer service possible to our clients.
Our new location provides much better parking options, three fantastic options to eat, drink and gather with friends and clients. Quick note, Bin 46 opens at 3:00 so plan your closings accordingly. Also, since we are located in a former bank, we have a very secure drop box where your clients will be able to drop earnest money checks after hours. I will have envelopes ready for this feature to be used by the end of this
week. And lastly, thank you to all of our wonderful clients. All of this would not be possible without you and your support.
As for the stats… it’s kind of the same old thing… prices up and inventory down. However, there is one thing I’d like to bring to your attention that isn’t readily apparent in the stats report. I see the new listings every day and I am astounded by how many of them are being listed by out of town agents and offices. I’ve looked at these numbers several times and done the math several different ways, but it always comes up the same. Currently, 63.5% of all active single family home listings in Longmont are held by out of town offices. This percentage means that Longmont agents are only capturing 36.4% of listings on their home turf!
I’ve been presenting this information to agents for a few weeks now and I keep getting asked: Why? I think it’s simple, local agents are getting outworked by their competitors. Those agents are doing a better job staying in touch with your clients. It’s pretty much a self-inflicted problem that needs to change. It isn’t the discount brokers taking all the listings either. My research shows only 10 listings in town held by the discount group. There are about 1,000 yearly sales in Longmont, which equals 2,000 total sides; and 63.5% of the business is going out of town that leaves about 730 sides for 500 local Realtors to live on.
I know if I had 63.5% of my potential business walk out the door, I’d do something about it. What are you going to do? If you don’t have a plan, maybe we should meet. I’m a small business consultant and I’m here to help you build your business. Text or call me at 720-534-8355 or email me at email@example.com