Dissecting the Ohio real estate market in 2016 yields similar results to what’s going on in much of the U.S., notes Michael Mahon, president of HER Realtors®.
“You have a low amount of inventory available, yet peak demand,” says Mahon. “We have been very fortunate in that we are running up in terms of overall sales in both volume and units, and we expect that to continue for the second half of the year as well.”
This has Mahon planning for growth initiatives, including beefing up the five new offices that have already opened in 2016, and adding a few more as the year goes on.
“It’s important because it helps you get into additional local markets,” says Mahon. “In order to be the recognized, represented, professional authority in the marketplace, we have established office locations in a lot of the mid-size communities outside of the metro area.”
According to Mahon, a lot of what sets HER Realtors® apart has to do with the firm’s core foundation—family, innovation and results.
“Specifically, when we look to family, we are probably the leader in Ohio when it comes to investing in our sales associates’ professional development in terms of training and coaching and helping them provide the highest level of customer service and accomplishing their production goals,” says Mahon. “It’s about truly making a difference in people’s lives.”
HER Realtors® breaks its training down into three specific and central plans. There’s a fast-track education series, which includes the normal business practices for newer agents; there’s fast-track coaching, where established coaches help identify business plans and goals for agents; and a Catalyst series for education and coaching, where national education speakers are brought in to engage sales associates.
“A lot of the competing brokerages want to be more focused on different narratives in regard to compensation schedules and things of that nature,” says Mahon. “While we are extremely competitive in our overall compensation schedules, our success has to do with our investment in technology, supporting our agents and helping them grow their business. Our philosophy sets us apart.”
While Mahon believes the biggest opportunities for greater success center around continuing to invest time in social media, he encourages his sales associates to stay active on all social media platforms—not only pushing the homes they represent, but showcasing the lifestyle of the communities they represent, as well.
“One of the biggest challenges coming out of the marketplace is that when we are dealing with the associations and the MLSs, we are dealing with such outdated ways of operating businesses and governance in those avenues that it’s continuing to create friction between those conveying the business in the local markets and those looking to restrict the business,” says Mahon. “We feel extremely confident being the market leader in Ohio, and in the next couple of years, are looking to expand outside the Ohio market.”
Vitals: HER Realtors®
Years in business: 60
Size: 59 offices; 1,100 sales associates
2015 sales volume: $2.1 billion
2015 transactions: 11,636
Region served: Ohio
For more information, visit www.herrealtors.com.