From driving business to helping out his agents, in the following interview Kevin Wiles of Berkshire Hathaway HomeServices PenFed Realty offers insight onto the success of his business.
President, Mid-Atlantic Region
Berkshire Hathaway HomeServices PenFed Realty
Region served: Greater Baltimore, Washington D.C. metro area, Northern Virginia and the Maryland Eastern Shore
Years in real estate: 26
Number of offices: 30
Number of agents: 1,100
Favorite part of your job: Helping my agents advance their careers and watching them help their clients achieve their real estate goals.
Who has most influenced your success? My father.
Current market trends: We’re in the midst of a very healthy market. In terms of year-to-date units and volume, we’re well above 2013 levels, and 2013 was one of our strongest years on record. I’m anticipating a robust market as we make our way through 2015, especially if mortgage rates hold steady and job growth continues. The calming of the big price increases that were prevalent in 2013 will make it an effective market for buyers and sellers.
What demographic segments are driving your business?
We work with a lot of move-up buyers, relocating corporate employees and military families. Through our parent company—PenFed Credit Union—we offer an affinity program that gives us access to 1.3 million PenFed members. This rewards program provides us with a unique value proposition as we offer a $10,000 closing cost credit to buyers who obtain a mortgage through the Credit Union and buy a home through one of our BHHS PenFed Realty agents.
How does your company make its agents’ jobs easier?
As a full-service company, we provide our agents with an agent services department that is responsible for a great deal of their day-to-day marketing needs. In addition, we recently introduced a proprietary marketing and technology platform that allows our agents to conduct business in a mobile fashion. The platform integrates electronic signatures and the company CRM, allowing agents to seamlessly create brochures and presentations from any mobile device.
You recently began operating as part of the Berkshire Hathaway HomeServices Network. What are you most looking forward to?
While this was our second rebranding in three years, we’re excited to be part of the Berkshire Hathaway network and have access to the benefits and resources that come with being part of the brand. It’s also important to note that in the short time since the conversion was announced, our agents have seen an increase in the amount of business they’re attracting. The combined power of the BHHS name and the resources that PenFed brings to the table make a truly compelling story.
What sets your company apart?
In addition to our real estate rewards program and the marketing and technology platform we’ve integrated for our agents, our Real Heroes program is one thing that I’m most proud of. The program consists of recruiting new agents from among men and women who have served—or whose spouses have served—in any branch of the military. This program is a great way to give back to those who have served and bring new talent into the business.
For more information, visit http://midatlantic.penfedrealty.com.