Nov 1 OKR Meeting Notes

Oct 31, 2022

1) Community Vendor: Adrienne Laosa w/ Treaty Oak Properties

2) Welcome!

Coleen Karpf
Julie Stoakley
Gina Lochner

3) Super Preliminary Market Statistics

*Agents will usually have the MLS updated 2-3 days after a property closes or goes pending. Today is Nov 1, so we can't rely on pending/closed data through 10/31. These numbers compare 10/28/2021 against 10/28/2022 (both exclude one full weekend.)

*2022 Inventory calculated with 90 days Absorption Rate.

Takeaways:

The market continues to slow.
Avg Price continues to hold. This is due to the lack of "forced sellers".
We're likely in the trough. We don't know how long we'll be in the trough.
Some credible experts predict 4.5% mortgage rates in the spring. Some predict 6.5%. Some think we could be in the 7-8% range. We'll know when we get there and we'll react when that time comes.
Stay positive and productive! :)

4) Office OKRs

We closed $13.3M and 25 transactions in October. This is -36% in units and -39% in dollar volume over 2021.
We contracted $14M and 25 transactions in October. This is -46% in units and -47% in dollar volume over 2021.

Leading Indicators

October FUB Leaderboard
We sent 53.5k emails, 2008 text messages, & we talked for 1 day and 12 hours!
Top Texter = Chris w/ 533 text messages!
Top Talker = Eric E w/ 3 hrs 49 min!

$1M+ Closers

Tara = $2.2M
Kasey = $1.9M
Jeremy = $1.8M

$1M+ Contracts

Kasey = $3.6M
Jeremy = $2.3M
Lindsey = $2M
Joe = $1.4M
Craig = $1.4M
Linda = $1.1M

5) What we completed in October

Ported our inbound marketing numbers back to Callrail from FUB. (Great example of Kaizen.) We found that moving to FUB was not an improvement and came with some downsides (primarily that the callers' numbers didn't show on caller ID.) We've used Callrail for a long time, so simply switched back.
Minor Client Portal improvements. These were predominantly UI inconsistencies that we fixed as we received feedback.
The 2023 Office Calendar is complete with dates. We spent time documenting our recurring events, which are listed under the office calendar.
Goal Setting process has been systemized (more on that below.)

6) What We're Working On

Social lunch mixers. First is on 11/16. Signup here: https://forms.gle/Yuh67H5b4DK5jsTz8
Goal Setting - Google Form will be sent to everyone this week. Bailey, Shelby, & Marelise will perform goal setting meetings. Can be over Zoom or in the office.
Client Portal: Wrapping up one last confusing UI issue and then moving onto the big "Better User Experience" feature set. This feature set will have really visible changes and we'll roll these out over the next 2-3 months.
Real Estate Review support and promotion. Since this is our first year to put this together, we're still learning how to best support everyone and promote this. (Discussion.)
Various marketing: This is something that we always do and have always done. Only mentioning it as an example of how we stay "positive and productive." The market has shrunk, so we're only seeing ~50% of the results/leads that we saw from the same efforts last year, but that doesn't mean marketing or our efforts don't work. While our competitors are stressing or slacking off, we're continuing to improve!

7) Market Observations, Coming Soons, & Buyer Needs Round Table (Bailey)

About the Author

Last updated: 10/31/2022

2300+ Client reviews!

Christopher Penaloza

JC was very helpful during the process of buying my first home. He directed me to lenders that truly had my best interest at heart. I almost made a few bad decisions that JC was there to wave off for me. I truly appreciate JC's responsiveness to ALL of my many questions and his willingness to be a sounding board for my frustrations in the process. I still hear from JC from time to time ensuring that I am happy with my home and letting me know of up and coming business in my area that might affect my property value. I will absolutely be using JC to purchase my next home.

LanceLunsford

JC does a great job with attention to detail and ensuring he has answers to your questions as you navigate the process of a home purchase. JC understands the process of the transaction in a home purchase and makes sure the details are covered.

Christopher Dunn

Ruth helped us to view many houses and (over months) to make multiple offers in a really, really tough market for buyers. Our low bids were our own fault! Ruth's guesses are always spot on. We finally had a bid accepted last month, and Ruth helped us re-negotiate after significant problems were discovered. Ruth has gone above and beyond for us, giving us far more time during this long search than we could reasonably have expected. She even helped us look for a rental when we'd basically given up. Her advice has always been immensely valuable and brutally honest. She is the most knowledgeable agent I've met on the Central Austin market. She also handled our stress well, and believe me, buying in Austin right now is stressful!

Jerry Nash

Excellent service and follow through. Very professional!

Steve Sanders

I highly recommend Kristen for all real estate needs.

Danielle Hughes

I had a great experience working with Bramlett Residential Real Estate. Jean Holm was my agent and she & her team made the whole process very simple. She explained everything very well, was knowledgeable, had great advice, and got our home sold. Definitely reccomend!

Jeremy K

I worked with Jeremy Vandermause to buy my first home. Jeremy was so patient throughout the process (which I definitely dragged out as I gathered all the facts). He consistently sent me homes I was interested in and was eager to show them off, and on the odd occasions where I found one he hadn't already seen he always made himself available to walk through with me. He was very helpful in those walkthroughs pointing out home features I would have missed, or providing context on neighborhood. As a native Austinite, he definitely knows the history and cultural fabric of the city and each neighborhood. I started with close to zero knowledge of the home-buying process and Jeremy walked me through every step with clarity and patience. So excited about the home I now own! Plus, he's just a legit cool dude. I always really enjoyed our conversations and could tell from the start he was someone worth knowing in Austin

Jian M.

This review is about Joe Gage, their real estate agent. I'm based in Sam Francisco and was looking for investment property in Austin. I tried out three different agents based on recommendations from different sources, including Yelp. Joe clearly stands out. He's very patient and responsive. I'm not familiar with the area at all thus had a lot of questions. His email reply contains detailed information of the neighborhood, including shops nearby, schools and so on. He regularly screen houses and give recommendations once he sees a good fit for investment house offered at reasonable price. He's very knowledgeable about the area. All his recommendations comes with details around why he thinks it's a good investment and sales/rental data in the neighborhood to justify the price he thinks it's worth as well as the expected rental income. I found him to be very methodical and organized. He's not a typical sales person. Maybe this is because he used to be an accountant. Needless to say he earned our trust and we went with him to make the purchase. I was very impressed through the whole process. He's very calm and never pushy. His recommendation on the bid price was right on and he was very good at following up with various parties to push things through. The process went through very smoothly. If anyone is looking for a good real estate agent in Austin, I'd recommend Joe whole-heartedly. His professionalism and calm personality make him a real pleasure to work with.

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