Spoiler alert: Best year ever by every metric we employ.
Last year’s summary was wrapped up thusly:
In years past, I’ve made numerical predictions, but this year I’m going to be a bit more coy. I’m looking for good agents who want to grow their practices the right way. My role is evolving from chasing deals to procuring the best training, tools and professional infrastructure. 2019 will be centered on providing those agents with the best tools and training possible, and this year I can say that we’ve never laid the groundwork the way we have in the past 12 months. So I’m not worried about numbers; we’ll let the bean counters do their work while we do ours.
While I haven’t finished the counting, what has been tabulated puts us back into explosive growth. The firm eclipsed $100 million in closed business in our main market area alone before December even hit, and as we grow it becomes virtually impossible to have everything counted by New Year’s Eve. That is a wonderful “problem.”
2019 has been replete with happy milestones:
- Our number of closed transactions is up to at least 320 at last count, up 12% over 2018
- Our closed volume is now at $115 million, up 15% over 2018
- Median sales price is up 9%, when the market itself overall is flat.
- Contracts executed for 2019 are up enormously, 15.5%, with a median price 15% higher. This is huge because it means we go into 2020 with momentum and a swollen pipeline of pending business for the new year.
- For the 3rd year in a row, our listings sold on average over two weeks sooner than the MLS average, and for a admirable percentage of asking (many selling well over asking).
Happily, for the 4th year in a row, J. Philip Real Estate is the top selling Westchester and Putnam-based true independent brokerage for transactions. No other independent outsells us in those counties. We outpace the market in most categories by 10% or more.
Another accomplishment of note is our inaugural 2019 membership as the exclusive Westchester and Putnam affiliate for Leverage Global Partners, the premier network of independent brokerages. We remain happy members of Westchester Real Estate Inc., the local area’s premier consortium of independents, as well as my continued membership as a Hudson Gateway MLS board member, Zillow’s Premier Agent Advisory Board, and as immediate past president of the Beverly Carter Foundation.
Double digit growth is both exciting and humbling. As the firm has grown, I have had to expand my own knowledge base also, evolving from prospecting and deal making to understanding how to deal with vendors, how to train agents effectively, what resources work and which ones aren’t for us, and a host of other things that weren’t in my original skill set when I started the firm 14 years ago.
Suffice to say, huge debts of gratitude are owed to Jenn Maher, my business partner and friend, Gloria Hernandez, who manages two of our three offices and is a tireless trainer and respected voice of wisdom, and Maureen Jacobson, who for my money is the area’s best business coach by far. In addition to the administrative superteam of Ronnie DeMeo, Rose D’Angelo, Rosaline Cruz and Michele Kantrowitz, we also added my niece Josie Faranda to the tech team. I’ll add a special thank you to Elena Kupka, who stepped up this past summer with advice that made a huge contribution to me both in and out of work.
As we look to 2020, I’ll demur on predictions, but will state that I remain committed to double digit growth in becoming a billion dollar enterprise. We will do it the right way, with solid professionals with whom I am proud to associate. To that end I will continue to provide the best possible tools to the agents, the best available training, and responsive and mindful mentoring. Our agents will have a brand to represent they can be proud of beyond mere numbers. If you are an agent (or considering becoming one) who is curious as to how you can have double digit growth as well, call me at 914.450.8883 and we’ll talk.