Last year, Lila Delman Compass sales manager and broker associate Lori Joyal broke statewide records for annual sales volume, finishing 2021 with $121.2 million in total transactions, including $116 million in Rhode Island alone, with the rest of it coming from Connecticut. That beat the last statewide record Joyal set in 2020 when she had $108 million in annual sales volume, the real estate firm said.
Joyal has previously ranked as Rhode Island’s top producing individual agent in 2020, 2019, 2017 and 2016, according to an announcement from Lila Delman Compass, citing data maintained by the Rhode Island Statewide Multiple Listing Service. Joyal joined Lila Delman Compass in 2005, and throughout her career there she has made $775 million in sales.
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PBN: What does it take to attain $121.2 million in sales volume during a single year? Do you consider yourself a workaholic?
JOYAL: I most certainly have been asked this question before. Most people who know me say, “If you call Lori in the middle of the night, she will answer.” Admittedly, I do work every day, seven days a week. My career is my passion and vocation. I love what I do, and do it with pleasure.
PBN: How did you first get into a career in real estate and why was it a path you chose to take?
JOYAL: I attribute getting into real estate to my mom. I had worked in human resources for 30 years then I experienced the greatest blessing in life, giving birth to my daughter Jacqueline. In my 40s, we made the decision to move to Rhode Island from Massachusetts.
Upon settling in Rhode Island, I thought about making the career change and was supported and was encouraged by my mom to pursue real estate. Truth to be told, I had no idea of any street or location. Thanks to my husband, Bob, behind me, I embarked on a mission to learn what I needed to know. The rest is history.
PBN: What’s your outlook for the residential real estate market in 2022?
JOYAL: The market remains strong because of limited inventory. There seems to be somewhat of buyer fatigue after multiple offers and a shortage of listings on the market. If a home comes up in a sought-after community, I expect the surge to continue. At the end of the day, we live in coastal paradise and as such, discretionary and secondary homebuyers will continue to flock to our beautiful Ocean State.
PBN: What does it mean to buy a luxury home nowadays in Rhode Island, what are the buyers that you work with looking for as far as luxury?
JOYAL: Historically, luxury real estate in Rhode Island has been defined as properties listed above $1 million. That definition has changed over the past few years for several reasons.
A property in the northern end of the state is going to have significantly more luxury features than a property along the coastline. It also depends on how you define “luxury.” For some, being a three-minute walk to the beach can be the ultimate luxury amenity. For others, it’s a top-of-the-line kitchen with high-end appliances.
PBN: Can you tell us what has been your favorite, or one of your favorite home sales of your career? Tell us the story behind it?
JOYAL: This is a tough question. Recently, I would say it’s between 15 Spray Rock in Weekapaug [in Westerly] and 12 Arraquat in Watch Hill [in Westerly]. Although both are rich in history, built circa early 1900s, 12 Arraquat in Watch Hill is extremely special because its location is unmatched. It is sited on a private peninsula with magnificent 360-degree water views on 4.71 acres. The property is utterly amazing and truly a one-of-a-kind coastal treasure.
Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.
