Portland real estate is in high demand and there’s a new spotlight on the best of an elite class of Portland agents. This is a hot market and although people may not have more choice in the houses they choose, they do have more choice than ever in what agent they go with.
This is something Carolyn Hoty has in the front of her mind. As the fearless leader of The Hoty Team, she wants to make sure prospective buyers and sellers know where to go, something she’s been hard at cultivating since entering real estate.
After attending George Fox University and getting her BA in Business, Hoty didn’t immediately go down the business road. Instead she wound up working in health care.
“I was a dental technician for a long time,” she says. But after prodding from her late husband, she decided to enter real estate, and the rest is history. She’s been at it for ten years and has built a capable team of four people.
The Hoty Team specializes in buying and selling in the Portland Metro area. And although she currently doesn’t operate in southwest Washington, she does say that “doing so might be something to consider in the future.”
Currently, Hoty knows where to focus her team’s efforts. “I would say any neighborhood that is walkable is where to look,” she explains. “Just off the top of my head I would say anywhere in John’s Landing, Rose City, the Hollywood District, Clinton and the Alameda District. That’s where we’ve been seeing these huge bidding wars.”
And she’s talking about some staggering bidding wars, with some properties routinely seeing ten or more offers and pushing the asking price up by fifty-thousand dollars or more.
“We’ve had huge growth in the last three years,” she says. “Sixty-five percent of the people buying homes are out-of-state and out-of-country transplants.”
This is a fact not lost on Oregonians, as they recently made known in placing these stickers on real estate signs around the metro area. And as to the source of Portlander’s ire, Hoty is not in disagreement.
“These are people coming in from California and the East Coast,” she says. “Many of them are cash buyers, so that really drives the market. It’s going to take time for our supply chain to catch up.”
While it’s easy to blame all of Portland’s housing problems on enterprising transplants, Hoty advises caution. After all, who’s buying the homes isn’t the only factor playing into the state of the market.
“There are a number of factors,” Hoty explains. “People are staying in their homes longer, say eight to ten years, whereas before it was five to seven. We’ve also got these artificially low interest rates driving the market. Our supply has not caught up with the demand.”
While interest rates remain low and Oregon job growth remains high, Hoty doesn’t see the situation getting any better. “The general economy in Portland has done well and our quality of life here is great, so I don’t see that changing any time soon,” she says.
As Nike and Intel continue their rapid expansions, the housing market will continue to remain under pressure in most Portland Metro neighborhoods. Navigating that pressure and getting homes sold fast is what The Hoty Team is all about.
“We are very efficient,” she states matter-of-factly. “We have a plan every time. Our listings go up on Fridays because the most activity happens on the weekend. We also stage our properties and bring in a professional photographer.”
Being able to rely on her team to ensure there is complete follow through is incredibly important. “I have an admin marketing person where her job is to make sure the exposure is happening everywhere and is accurate.”
Accuracy, efficiency, and professionalism is what The Hoty Team is all about. As she puts it, Hoty wants her team to operate as a black suit professional organization. As a result, professionalism sets the tone for everything her group does.
The Hoty Team is backed by Keller Williams. For more information on Carolyn Hoty or her team, visit their website or give them a call at (503) 780-3688. They are located at 9755 SW Barnes Road, Suite 560, Portland, Oregon.
William Bessette – PortlandMetroLive.com Contributor
BIO: William Bessette is a social media strategist, blogger and journalist. With over ten years of experience covering a wide range of topics, from entertainment and politics to technology and real estate, he specializes in writing in a variety of tones and styles.