Five Questions With: Kira Greene

Updated at 1:04 p.m.

Kira Greene joined national real estate brokerage Compass Inc. last year as a founding agent for its new Providence office, jumping on board less than 2 years after the company made waves in the industry by acquiring the Rhode Island-based firm Lila Delman Real Estate, which was rebranded as Lila Delman Compass.

Previously, Greene was a top producing agent in Providence as one half of the Greene/Sweeney Team, working for Rhode Island real estate firm Residential Properties Ltd. for more than eight years.

As Compass continues to make its presence known in Rhode Island, the real estate company recently marked the launch of its rebranded Compass Providence office at 269 South Main St., the home base for Greene and about 25 other Compass real estate agents.

 

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PBN: Last year, you made the big move to join Compass, and the company recently added 15 other new associates. How is the company expanding its presence in Providence after acquiring Lila Delman in 2020?

GREENE: Last week, Compass announced the official launch of its Providence office, formerly branded as Lila Delman Compass. Compass Providence is one of 12 Compass-owned offices across the state of Rhode Island, including offices operated as Lila Delman Compass.

Providence looks more like Compass’ urban markets than it does the coastal towns in which Lila Delman Compass has seen such amazing success. In Providence, we strive to generate the same positive impact and success the Compass brand has seen in markets like Boston and New York, in which Compass is a leading brokerage.

Today, our Compass Providence office is home to 26 agents that represent a total of $290 million-plus in sales volume in 2022. As a city, Providence is home to such a diverse array of neighborhoods and people, and Compass is designed to elevate the real estate experience for all – regardless of location or price point. It’s not every day you see a Fortune 500 company shining a light onto Providence (like Compass is) and that is not lost on me. I’m so fortunate to deliver such a forward-thinking and dynamic experience to the community I love so much.

PBN: What’s it been like to make a career move like this in the Rhode Island real estate space, joining another real estate firm within what I imagine is a very competitive local real estate market?

GREENE: My career move was driven by my desire to work more collaboratively than traditional brokerages may operate. Compass puts into practice the phrase “collaborate without ego.” This collaboration has made the competitive side of real estate take a back seat to better focus on serving our clients in the best way possible. A competitive market will, and should, demand more from the brokerage engaged.

What I’ve been given are the tools necessary to perform at the highest level for my clients in this ever-changing, dynamic market. With the support of both a local and national team of strategists, I’m able to tap into local and national channels to creatively market each and every one of my listings. My career move has provided me with an elevated level of services and strategies that address each individual client’s needs necessary in our incredibly dynamic and changing market.

PBN: What’s your outlook on the Providence real estate market for 2023, compared to this sellers’ market during the past two years, in terms of the supply, demand, how long it’s taking to sell a house and mortgage rates?

GREENE: According to RIAR [Rhode Island Association of Realtors] sales data, in November 2022, R.I. experienced a 34.8% drop in homes sold from the year prior. The sharp decline in sales is largely attributable to the lack of inventory and higher interest rates. The lack of supply is keeping prices elevated in Providence, so this first half of the year remains a very attractive time to sell. However, as buyer demand has also decreased, especially with first-time homebuyers representing roughly 26% of the buyer pool versus 35% the year prior, sellers should be incredibly strategic in their approach.

Presentation and pricing will be key, as buyers are more price conscious than ever. Average days on market has increased, providing more breathing room for buyers, and providing less of a frenzied feel. However, with rates expected to subside in 2023, buyers should take note that the early 2023 home search will have less competition than there will be later this year. In order to make the right moves, ensuring you are well-educated about the nuances of the market you are purchasing in is critical.

PBN: How is Compass uniquely positioned to best serve home sellers and homebuyers in Providence in 2023?

GREENE: A strategic and creative approach to real estate representation with regards to pricing and presentation has never been more important. Our Compass Concierge program helps fund the cost of home improvement projects for a seller that will ultimately net a higher sale price once listed. Offerings like this will 100% offset listing challenges by allowing sellers to make improvements to appeal to today’s buyers and ultimately get top dollar for their home.

On the buyer’s side, Compass has the best technology in the business, with Compass Collections allowing us to dynamically connect with buyers in real time on any property. Our buyers also receive updates on Coming Soon properties through the Compass app. Being able to support buyers at this high of a level will be a requirement for success in the 2023 market.

Additionally, as a very popular inbound state for transplants, it’s important for Rhode Island agents to have access to a national network. As the No. 1 independent real estate brokerage in the country with nearly 30,000 agents in more than 350 cites, I and my fellow Compass agents are able to work seamlessly with our colleagues nationwide to help their clients make the move to Rhode Island.

PBN: Do you have a real estate-related 2023 New Year’s resolution you could share with us? What’s your goal for the new year?

GREENE: My professional real estate resolution is to prioritize in-person time with my clients. One way I am doing this is by having weekly client coffee times to just connect whether a client is listing or buying, this year or years from now.

During the pandemic, not being present was simply the norm, but I find so much value and enjoyment in these discussions. Our market is complex, and the questions being asked today are much more sophisticated and layered than years ago. Just listening to my clients’ concerns helps me ensure I am in tune with the most top-of-mind and current needs. Being present in any profession is important, but in real estate it is paramount, as we are entering people’s lives and homes and guiding them through one of the most significant transactions they’ll ever make.

(Update: Changes the time frame of when Compass acquired Lila Delman in the first paragraph.)

Marc Larocque is a PBN contributing writer.