Michelle Keach, currently a Realtor with Coldwell Banker Realty, based in Cumberland, is being honored as the 2023 Realtor of the Year by the Northern Rhode Island Board of Realtors.
Keach, who got her start in the real estate industry in 1991, served as a member of the board of directors for the Greater Providence Board of Realtors from 2012 through 2019, before joining the Northern Rhode Island group in 2021, serving as its board president for the current year. She also serves on the Rhode Island Association of Realtors Professional Standards Committee board of directors. Outside of real estate, Keach has been a member of the board of directors of the Blackstone Valley Tourism Council and the Glocester Business Association.
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Keach will receive her Realtor of the Year award at the Northern Rhode Island Board of Realtors annual meeting on Oct. 4 at the Pawtucket Country Club.
PBN: What’s your reaction to being selected as the Realtor of the Year of the Northern Rhode Island Board of Realtors, based on your contributions and leadership in the local real estate industry?
KEACH: Upon receiving this honor, I found myself grappling with imposter syndrome. My daily interactions expose me to intelligent, accomplished and highly engaged agents, highlighting how many individuals are truly deserving of such recognition. During this time, I reached out to my broker, Mary Baron, for guidance. She took the opportunity to remind me of my substantial contributions to local boards, my involvement with the Rhode Island Association of Realtors, and my dedicated commitments to various other organizations. It became evident that my active participation had developed as a result of the relationships I had cultivated over time.
PBN: You’ve earned a lot of important certifications through the board. How much have you learned through those certifications and how have they allowed you to advance in your career?
KEACH: My certifications are an acknowledgment of my experience and expertise that I have built throughout my career. I pursue courses that will benefit my business and my ability to serve my clients, even if I’m traveling. This pursuit has not only enriched my professional knowledge but has also allowed me to forge friendships and establish referral partnerships across the nation.
PBN: What are your thoughts on the current residential real estate market we’re seeing here in Rhode Island, and how do you expect it could change in the coming year or two?
KEACH: We are currently experiencing historically low inventory and high median sale prices, which is excellent news for potential sellers despite the increase in rates. The population continues to rise, suggesting a sustained demand. The rental market remains extremely competitive; even with higher rates, it makes sense to buy.
A substantial wealth gap exists between homeowners and renters. Homeownership benefits individuals and communities. Homeownership is the most common way the average family builds generational wealth – and, in turn, closes the gap between the rich and poor. Every home sale generates roughly $88,000 in local economic activity, accounting for nearly 18% of the nation’s GDP [gross domestic product], and every two home sales supports one American job. Those jobs include the 88% of Realtors identifying as small-business owners.
PBN: What has been one of your favorite recent real estate transactions and why?
KEACH: I’ve been very fortunate to have recently worked with some wonderful buyer and seller clients and responsive agents. This summer, I worked with buyer clients who didn’t give up, even though they had lost out on other homes in this competitive market. They found a home that worked for them, and we submitted their best offer to the home seller, which was accepted. They were overjoyed.
PBN: What’s your advice for fellow Realtors on how to handle multiple-offer situations for their clients who are selling their homes? What tips do you have for navigating what might be a high stakes deal for the seller?
KEACH: Effective communication is paramount for fellow real estate agents handling multiple-offer situations. Recently, I had a client who benefited greatly from this approach. By engaging with buyer’s agents and conducting thorough reviews, I discovered an administrative error that led to my client securing an additional $15,000 compared to the closest offer. In addition, the buyer waived inspections and mortgage contingencies, making for a smoother transaction for my client.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockObama.
