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 Collin Bray, vice president of sales for Century 21 Cityside.
Boston Agent (BA): As a young agent who’s found great success, what are some of the challenges you faced and how did you overcome them? I’ve learned by trying and failing.
Collin Bray (CB): The common difference between experienced agents and younger agents is “confidence.” How does a Realtor gain confidence? I started shadowing an experienced agent. It was critical to my development.
I also asked for frequent (daily/weekly) coaching from my broker. Most importantly new agents should go preview property and have one-on-one meetings with friends/family. The opportunities are on the streets!
BA: According to CoreLogic, Massachusetts has one of the lowest shares of cash sales in the U.S. Why are cash buyers so few in the state compared to elsewhere?
CB: About half of my sales in downtown Boston are all cash (buy and sell side) so I don’t know. I would speculate it’s due to Boston’s size. An example would be Back Bay has a population of 11,000-plus…Manhattan has 1.6 million.
BA: As a highly recognized leader in the business, it’s clear you have skill at generating business. What tips can you give to rookies and young agents trying to build their contacts lists and find good leads?
CB: As a rookie agent it’s difficult to know how to powerfully set up your friends and family to refer you. Referrals are the best leads, because a referral often comes with trust and a background of relatedness.
Eleven years ago as a rookie I thought building my contacts meant finding sellers and buyers. Yes, that’s accurate. However, a Realtor should also create a team of professionals they can recommend. An excellent lender, attorney, general contractor, painter, mover, tax accountant and more.