Every week, we ask an Boston real estate professional for their thoughts on the top trends in Boston real estate.
This week, we talked with Gina Romm, sales vice president with William Raveis Real Estate.
Boston Agent (BA): As a longtime Boston top producer, what advice can you give to young agents trying to make a name for themselves in the local market?
Gina Romm (GR): I am lucky to be a top producer in both the Newton and Boston markets. I started real estate in Newton over 25 years ago and my base is still in Newton, with the William Raveis office. In recent years I have branched out to Boston, where I currently reside. It takes the same steps to be a good agent regardless of where you practice – you really need to understand your client’s needs, often reading between the lines. Work hard, be efficient and prompt in all communications with all parties in the transaction. And above all, be fair and considered with other agents!
BA: A recent feature discussed the importance of forging strong relationships with lenders. How do you maintain strong, strategic partnerships with professionals in other sectors of the industry?
GR: In this business, we are all interdependent. There are lenders I worked with over the years that I trust completely. I approach referrals from the point of what is best for my client. Some buyers may have complicated situations that may require special programs which not all lenders may provide. But, the lenders I work with would tell me who to contact if they couldn’t offer what my client needed. It’s this kind of professionalism that brings loyalty. The same goes for other professionals. Pick a couple of the top people in the field and stay with them – they will value your loyalty and work harder for your clients.
BA: A recent report showed 60 percent of Bostonians now live in rental housing – up from 55 percent in 2006. Have you noticed this trend, and if so, how has it affected your business?
GR: There are different reasons for that. In recent years we have seen an influx of new residents moving to Boston. Many more empty-nesters are moving from the suburbs and like to do a “trial run” before committing to a purchase. We also see a lot of new construction buildings with great amenities being built as rental housing, as opposed to the condominiums. We have also had relatively low inventory and a pent-up demand not just in Boston, but in the suburbs. I have buyers who are waiting to purchase the right property as soon as it will hit the market, but in the meantime they are renting and waiting.