Providence resident Mary Leahey, regional vice president of Coldwell Banker Residential Brokerage, was honored last month at the fundraising event Providence Place Gives for the company’s charitable work with Crossroads Rhode Island, which provides food shelter and emergency help to the state’s homeless.
At Coldwell Banker, Leahey oversees more than 600 agents and employees at 13 local offices throughout the region.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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PBN: You were just honored at Providence Place Gives for your charitable work with Crossroads Rhode Island. How does that compare with being recognized for professional work?
LEAHEY: Both are important to us as an organization. Providing homes is the foundation of our business. Coldwell Banker Residential Brokerage Cares is the charitable arm of the company and as such is charged with providing financial assistance to housing related causes in the communities where Coldwell Banker Residential Brokerage New England has a presence. In Rhode Island, we have been fortunate to have achieved the top spot on the PBN Book of Lists for Residential Real Estate Companies based on the number of transactions we participate in in Rhode Island. It is important for us as an organization to give back to those communities in which we do business.
PBN: What other causes does Coldwell Banker’s charitable arm contribute to?
LEAHEY: Our sales associates and employees raise funds for local housing related causes by donating a portion of their sales commissions and paychecks to Coldwell Banker Residential Brokerage Cares. Currently more than 3,000 sales associates and employees in New England contribute to the Coldwell Banker Residential Brokerage Cares program. Additionally our sales associates and employees hold fundraisers and select local charities to receive funds through the Charity Begins at Home program. Since its inception, Coldwell Banker Residential Brokerage Cares has donated millions to housing related non-profits throughout New England.
In Massachusetts, we support groups like The Home for Little Wanderers, Pine Street Inn, Community Servings and Rosie’s Place. We have also supported local chapters of Habitat for Humanity. In Rhode Island, Crossroads Rhode Island is our primary charitable partner and we provide funds and volunteer support to the organization.
PBN: On the business side of things, technology is evolving rapidly and causing most industries to evolve with it. How has technology changed things for your brokerage?
LEAHEY: Our innovative technology tools provide the platform for our business development and promotion, our transaction management and client loyalty. Our award winning website, www.NewEnglandMoves.com, is the most heavily trafficked real estate website in New England. Our rapid response system, Lead Router, connects consumers with our agents almost instantly. HomeBase, our transaction management platform, allows clients and sales associates to track their transaction electronically and literally have an electronic file for life. Our Education and Training Department empowers our agents with the training needed to use the cutting edge technology to grow their business. Technology is critical to our success and that of our agents and is of high importance within our organization.
PBN: Rhode Island and southeastern Massachusetts have suffered more than some other places in New England from the housing slump. Is there any cause for optimism in this part of the region?
LEAHEY: Yes. The Rhode Island Association of Realtors recently reported that sales activity has been slowly increasing since the dramatic slowdown following the expiration of the homebuyer tax credit in July, 2010. In the past few months distressed sales (short sales and foreclosures) increased for the first time in over a year. The supply of properties for sale has dropped each month in the third quarter. Mortgage rates remain at historic lows and pricing now makes home ownership more affordable for many. Real estate has always been a great long-term investment and the dream of home ownership is still alive.
PBN: What advice can you give people struggling to sell a house?
LEAHEY: In this market it is more important than ever to price a home correctly for the market. The buyers are well educated due to the wealth of information available online regarding the available properties. If the home is priced correctly for the buyer pool that is looking in that price range, they will be successful. It is important for a seller to be familiar with the homes that are competing with theirs in the market. It is also important to track the number of times their home is being viewed online. It is an indicator of the interest in the market and allows the seller to adjust if the home is not receiving online views. This is the type of information that their real estate agent can provide in order to assist them in their decision making.
