Here’s something for DC buyers’ agents to think about: If you’ve been frustrated with the city’s lack of inventory, high prices and an inability to match product with your buyers’ wants and budgets, start to look a little North in the MRIS.
We want to share with the agent community some of what we’ve learned over the last year about Baltimore City while rehabbing a commercial site in Hampden into our new Baltimore City real estate office.
“It’s shocking (in a good way) about Baltimore City’s differences from DC in real estate,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “You have this gigantic urban market starting a long-term transition up from very low city home values. There is an enormous amount of product, and frankly, the city is very easy to do business in.”
If you’re an agent getting into more advanced buyer services, like renovation & rehab buyers, here’s something to share. “The city doesn’t want to hold you back. They’ve been very attentive during the permits process, and we were able to get our use & occupancy permit at the same time we wrapped up our final fire inspection,” commented Gerard. “We saw almost zero delays waiting for the city on anything…a very pleasant surprise.”
The brokerage has already been doing business in Baltimore in preparation of the office opening up. “I’m loving Baltimore,” commented Willie Silas, Associate Broker of UrbanLand Company. “I’ve lead several Baltimore-focused Workshops with a DC investor audience and have several city transactions. As an agent, there’s a ton of look at and tangible reasons to pull investors up to the city for tours. You come back with closed sales.”
As a brokerage, we’ve made it very easy to “add another market” to your focus as an agent. “Our Free Workshops program is extremely active in DC and rolls out in full form in Baltimore City right after the 4th of July, with 3 Workshops every single week for agents to meet prospects. When you combine that with available weekend floor duty in a high foot-traffic retail district, you can pick up a lot of exposure as an agent very quickly.” Here’s more on our Workshops program.
For more information on joining UrbanLand Company and our DC or Baltimore offices, email us or call 202.335.2201.