Cody Thurman, VP at Living Room Realty and Managing Principal Broker, discusses how Living Room Realty is redefining real estate with their unique approach. They prioritize residents and landlords alike, making property management a breeze. They also explore the challenges of maintaining their unique identity and the benefits of giving back to the community.
Living Room Realty demonstrates their commitment to the community by implementing a B1G1 program linking their business activities to supporting a nonprofit organization, enhancing conversion rates and attracting clients who value social consciousness.
Living Room Realty differentiates itself by maintaining a boutique approach, allowing for flexibility, clear brand representation, and development of tailored training programs and marketing strategies.
Deep dives
Living Room Realty's Commitment to the Community
Living Room Realty, a local boutique real estate company based in Portland, Oregon, demonstrates a strong commitment to the community through their core values. They have implemented a B1G1 (Buy One, Give One) program where they link their core business activities to supporting a nonprofit organization. By choosing an organization called Camp Hope, they donate a portion of every meeting they have with potential clients to feed veterans suffering from PTSD. They also create a process where they leave clients a card explaining how their meeting has contributed to a donation. This program not only helps the nonprofit, but also enhances their conversion rates by showing their social consciousness. Living Room Realty also partners with other nonprofits through the Loving Room Fund, where a portion of every sales commission goes to three selected nonprofits for a period of three years. This deep relationship and partnership with nonprofits not only generates goodwill, but also attracts clients who want to do business with a company that is involved in giving back to the community.
Living Room Realty's Unique Approach to Real Estate and Property Management
Living Room Realty differentiates itself from other real estate and property management companies by maintaining a boutique approach rather than affiliating with a franchise. They value their unique identity and connection to the local community. Operating as a boutique company allows them to be more flexible and express their brand clearly, representing the values and vision of the company founder, Janelle Isaacson. Despite their growth to over 100 agents, they still aim to provide the same boutique experience. Their agents are drawn to Living Room Realty for the community of like-minded professionals and the sense of exclusivity. The company develops its own training programs and marketing approach, tailored specifically to their brand and client base.
The Impact of Property Management in the Real Estate Market
Living Room Realty recognizes the stability and financial benefits that a property management division brings to their brokerage, especially during challenging times in the real estate market. By having a property management company within their brokerage, they generate additional leads and income streams. They acknowledge the shift in the market where fewer transactions are happening, and having a property management division provides security and financial breathing room when sales are slow. This approach allows them to weather market fluctuations and maintain stability within their business.
Staying Educated and Being Involved in the Property Management Industry
Living Room Realty emphasizes the importance of staying educated and being actively involved in the property management industry. They encourage their team to join organizations like the National Association of Residential Property Managers (NARPM) and engage in networking opportunities. By participating in industry events and staying informed about market trends and legislative changes, property managers can better serve their clients. Living Room Realty's commitment to education and industry involvement reflects their dedication to providing exceptional service and staying ahead of industry developments.
Oct. 25, 2023
In this episode we call "Real Estate Done Differently," join NARPM® Radio host Pete Neubig as he welcomes Coty Thurman, VP at Living Room Realty and Managing Principal Broker at Living Room Property Management in Portland, Oregon. Discover how Living Room Realty is redefining real estate with their unique approach, "Real Estate Done Differently." Explore how they prioritize residents and landlords alike, making property management a breeze. If you're a property manager looking for fresh ideas, this episode is a must-listen!
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