Park City Blog

BHHS Utah Among Top Brokerages in Network

By Berkshire Hathaway HomeServices Utah Properties
Mar 26, 2015

We have just returned from the BHHS annual convention in Las Vegas. We were acknowledged as being a leading brokerage with seval agents and teams in the Top 100. As a brokerage we were named a Top Ten National Brokerage in Network. We also had both an agent and a team place amont the top ten in their respective categories.

image1 (7)

 

Beyond just awards, convention was an energizing experience and gave us the opportunity to meet with some of the most succesful industry leaders in the game. We were able to discuss trends in the market; best-practice marketing approahces, the latest tech tools to help realtors, etc...

We were also able to hear what our brand has planned for the coming year. Already, less than a year out from our conversion to Berkshire Hathaway, we have benefited from the brand's commitment to market positioning, digital marketing, agent training, and world renowned name.

Our agents who attended convention were glad to have the opportunity to share tips and observations with other agents.

It's been a year of change and success for us. Thanks for your trust. We could not be more excited about our company.

A Year in Review

By Berkshire Hathaway HomeServices Utah Properties
Jan 05, 2015

Reflecting on 2014.

2014 was momentous for our company.

20140606__1 prudential~p1

Our June transition to Berkshire Hathaway HomeServices was a success and has already contributed substantively to our growth throughout northern Utah. Adopting the most respected brand in the world (according to Barron's famed annual poll) has provided us with the latest in sophisticated market watching and marketing tools. From proprietary digital e-mail systems, advanced market statistic reports, and cutting edge social media monitoring, our clients are given every advantage needed to position themselves successfully and make informed decisions in today's market. 

In 2014, we were also named the largest brokerage in Utah in terms of sales volume, with over $1.8 billion in sales.* It is an honor to be Utah's choice real estate firm, and we look forward to building on our stronghold. Locally, the arrival of Vail with its newsworthy purchase of Park City Mountain Resort and its announced intention to combine Canyons Resort with PCMR has energized the town and the real estate community. As the largest development brokerage in Park City, we look forward to contributing to the responsible growth of our town and market.  

*2014 announcement reflects sales volume achieved in 2013 according to MLS statistics. 

2014 Market Recap.
  • Our marketplace remains highly segmented. 2014 illustrated the complexity of our local market place. Given the variety of product and price points in our real estate community, it is not surprising that certain areas such as Old Town and Heber Valley saw intense activity and growth, while other areas like Park Meadows saw erratic price variation. As ever, the assistance of an informed professional remains critical. 
  • Median sale price increased. While vacant land and certain neighborhoods saw stunning price increases, most areas saw a gradual and measured increase of median price. 
  • Inventory remains low. We witnessed limited inventory, particularly in Q2 and Q3 but predict that given the excellent climate for selling, we will see a return of more options in 2015. 
  • The development market has returned. BHHS Utah represents more developments than any other Park City brokerage and can say with authority: the development market is healthy and heating up. From large acreage ranch properties to contemporary luxury builds in Deer Valley, Summit and Wasatch counties are entering a period of intense growth. Investment opportunities abound.  
  • Consumers found their confidence. Consumer confidence returned to pre-recession levels, which had a hugely positive and stabilizing effect on the domestic real estate market. 
  • The market as a whole has normalized. Distressed sales and failed developments are a thing of the past. In 2014, the market returned to pre-2008 levels.

What we expect from the market in 2015.

  • Our market will remain segmented. Park City offers real estate options for every buyer, which makes our jobs here a bit easier. It also means that each neighborhood operates as its own market.
  • Inventory will return. Inventory remained relatively low in 2014 (there was a slight increase from 2013), but it seems likely that sellers will capitalize on the current climate, which will increase inventory gradually over the course of 2015.
  • Vail's purchase will have a positive effect on Park City's market. Vail's creation of the largest ski resort in America is sure to have a positive impact on our market place. We have already seen price increases in and around Canyons Resort and Old Town. 
  • Foreign buyers and visitors will increase. While foreign buyers have historically accounted for less than 1% of local buyers, Vail's arrival and its roster of foreign Epic Pass holders along with Salt Lake's ever growing economy will result in an increase in international visitors and potential foreign buyers. As a global brokerage, we are equipped to meet the needs of and reach a global client base.
  • More development. Summit and Wasatch counties will continue to garner interest from developers, meaning new and different product for buyers to select from. 

January Events:

Aerials-Inverted. Aerials-Inverted.

12/31 Canyons New Year's Eve Celebration and Fireworks

12/31-1/3 The WHO Show performing "Tommy-the Rock Opera"

1/2-1/4 Park City Film Series - Antarctica: A Year on Ice

1/1/-1/4 The Interview premiers at the Park City Film Series

1/7-1/10 FIS Freestyle Ski World Cup at Deer Valley Resort

1/10 Winter Trails Day at Soldier Hollow

1/17 Park City Institute presents Aiofe O'Donovan at Eccles Center

1/22-2/1 Sundance Film Festival

BHHS Poised to Expand Internationally

By Berkshire Hathaway HomeServices Utah Properties
Dec 30, 2014

Berkshire Hathaway HomeServices kicks off next phase of expansion.

We are thrilled to announce Berkshire Hathaway HomeServices' announcement of its intention to expand internationally in 2015. In Utah, we have seen a notable influx of international visitors, companies, and diplomatic missions, and we believe our brand's expansion overseas will allow us to increase our reach globally and assist with our international clientele.

According to Inman news, who reported on Berkshire Hathaway HomeServices growth:

Having brought nearly all of the brokerages that once did business as Prudential Real Estate under its wing, next year Warren Buffett’s new franchise network will fix its sites set on a new target: independent brokerages and companies affiliated with other brands.

That includes overseas firms, says Gino Blefari, who on Jan. 1 will take the reins of HSF Affiliates LLC, the joint venture that runs the Berkshire Hathaway HomeServices, Real Living and Prudential Real Estate brands.

“2015 is going to be all about growth,” said Blefari, who is replacing Prudential Real Estate veteran executive Earl Lee, 69, as CEO of HSF, a joint venture between Buffett’s brokerage company, HomeServices of America, and Brookfield Asset Management.

The BHHS network has grown to more than 34,000 agents in 47 states. Now, the franchisor is poised to catapult into the global arena and claim its place in the ranks of elite international real estate franchise brands like Re/Max, Keller Williams, Century 21 and Coldwell Banker.

BHHS could add its first overseas affiliate as soon as the latter part of next year, BHHS President Stephen Phillips told Inman.

Asia is among the burgeoning real estate markets BHHS is looking to set up shop in overseas. “The China market is boiling over,” Phillips said.

We look forward to welcoming our affiliates overseas. Utah has always been an international destination--we believe in the coming years it will also become a popular place among global real estate investors and home buyers.

 
 
Existing user sign in: 
Forgot Password?