The 2021 list of America’s Best Real Estate Professionals produced by REAL Trends, the publishing company known for its analysis of the residential real estate industry, ranked Jim DeRentis as the No. 1 agent in Rhode Island for transactions either as a buyer or seller. The publication said DeRentis, who works for the Providence-based Residential Properties Ltd., completed 120.5 transaction sides in Rhode Island in 2020.
A resident of the College Hill neighborhood in Providence who graduated from Bryant University and got an MBA at Providence College, DeRentis is a self-described “real estate enthusiast” who got his start in real estate 35 years ago and has since become the only nationally ranked sales agent on the East Side, according to Residential Properties. He goes by the nickname “The Providence Real Estate Guy,” and he has a website documenting his sales at ThePVDRealEstateGuy.com.
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PBN: What motivated you to become a real estate agent and what makes you want to stick with it?
DERENTIS: I was a banker for 25 years and during that time I bought, sold and developed real estate as a hobby. I realized as I approached 50 years old, I wanted to do what I loved. So, I got my license, called Sally Lapides, CEO of Residential Properties Ltd, and started in real estate full time. I have not looked back since. I’m a real estate junkie and have always wanted to be an architect, but I’m not very good at math. Selling real estate has been a great way to satisfy that passion.
PBN: How many homes have you sold and what skills or talents have been most vital to your ability to sell so many homes?
DERENTIS: I sell about 120 homes per year. So, over the dozen or so years I have been doing this, I have sold over 1,000 properties. The most important skill is to listen. You can determine a great deal by understanding people’s motivation. Once you know that, you can provide better advice and counsel to a client, and as importantly the other parties to a transaction. Each situation is different, and there can be many players involved that need to be working together in order to achieve a successful outcome.
PBN: What is the hottest trend in home sales in the Rhode Island market right now? What types of houses are the most popular among buyers?
DERENTIS: Here in Rhode Island, as in much of the country, inventory is short of demand. Single-family homes are still the most commonly sought-after property.
One of the things I’ve noticed is that the “open concept floor plan” has fallen out of favor since COVID-19 changed so many of our lives. Work zones, learning zones and privacy have become part of many people’s priorities. I would not say it’s gone back to separate rooms per se, but distinct spaces for working from home to accommodate multiple members of the household have become a top wish-list item.
PBN: What is the biggest challenge for you and other professionals in real estate sales right now?
DERENTIS: The lack of inventory remains the No. 1 challenge. Folks relocating into the market have little to choose from. Folks that would sell cannot find a new home to entice them to list their current home. And overly restrictive zoning requirements continue to make new construction more expensive in urban, suburban and rural markets. All of these factors continue to drive prices, and, in some instances, it may put home ownership out of reach. Every colleague I come in contact with has a tale of woe trying to meet the demands of the current market.
PBN: How did the COVID-19 pandemic impact your industry and career? How did you and others adjust to the economic impact and the health/safety impact caused by the pandemic?
DERENTIS: We were fortunate in R.I. that real estate remained an essential business. So except for a brief period in March-April of 2020, my business never really slowed down. Residential Properties Ltd. has been very concerned about our client experience throughout the pandemic, and as a result we kept in close contact to make sure our buyer and seller clients felt comfortable with how we were helping them buy and sell homes. We follow COVID-19 protocols and best practices issued on the federal, state and local levels, and as a result have had an extraordinary couple of years.
Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.
