If you want to stay competitive, you must constantly study the real estate scene and adapt to even the slightest change. Savvy real estate agents know how to sail through the waves and stay ahead of any potential storm. This way, they’re aware of every shift in the market and can turn any situation to their advantage. Furthermore, they’ve got the skills to help the next generation learn how to thrive in this fast-paced industry, to better serve prospective sellers and buyers.
We wanted to fully understand the dynamics of the real estate scene in the U.S., so we got in touch with seasoned real estate professionals who know how to adapt to any market fluctuations. In our Expert Insights series, we discuss how the market changes, which are the challenges these professionals encounter and what drives a market’s growth.
The Many Facets of a Growing Real Estate Market
Pittsburgh, Penn., is by all accounts a growing real estate market. The city has become a veritable tech center, which in turn has led to its revitalization. Old buildings were injected with new life, undesirable neighborhoods became popular, and new developments rose from the ground. For this episode of our expert Q&A series, we reached out to Brian Teyssier, a Pittsburgh-based luxury agent at RE/MAX Advanced REALTORS®.
A trusted and experienced real estate agent active in the Greater Pittsburgh market since 2007, Teyssier was trained by Tom Ferry and by social media coach Katie Lance. Last year, he represented 37 buyers and 47 sellers, and he closed 87 sales—amassing $23 million in transaction volume. He boasts an average price of homes sold of $276,055, and his properties spend an average of 66 days on the market before selling. Teyssier revealed to us a few insights regarding the emerging Pittsburgh real estate scene. Keep reading to discover what he’s got to say.
Q: How did you end up working in this field and what drew you to it?
A: I used to flip houses with my own two hands.
Q: What does it take to be a successful broker in this highly competitive market?
A: I am not a “broker.” I am just an agent. That being said, I believe consistency, continually being educated, and embracing social media and technology are the most important factors to take into account.
Q: Describe your most challenging project so far. How did you deal with it?
A: For me, it was taking newly licensed agents under my wings. I had to adapt to be able to help them out.
Q: Are there any investment/development clusters/submarkets in Pittsburgh right now? Where is development focused and why?
A: Lawrenceville for sure! It’s close to the Children’s Hospital and it’s super easy to get into Pittsburgh proper (no bridges or tunnels, so no traffic). It’s bikeable and walkable.
Q: In your opinion, what are some of the strengths of the Pittsburgh real estate market, and what are the challenges? How do you deal with them?
A: We are growing by leaps and bounds. One of the challenges is that so many new agents are coming aboard without property training. How do I deal with this? I just try to keep calm and do the best for my clients.
Q: How do you think the Pittsburgh residential real estate market is faring compared to other bigger/more established markets?
A: I think it is growing. Both young and older people are finding Pittsburgh attractive. If Google comes, we may just explode!
Q: How is commercial real estate changing residential housing in Pittsburgh?
A: I do not know much about commercial, but I can tell it is growing at the same pace as residential. I think they feed each other.
Q: Where do you think the Pittsburgh real estate market is heading in 2018? Are there any major/exciting developments scheduled for delivery this year?
A: Landing Google’s distribution center, possibly. No bigger news than that!
Q: Is there a certain project or initiative in the works that you think will have a big impact on residential development in Pittsburgh?
A: Nothing other than Google.
In our Expert Insights series, we also published a Q&A interview covering the Tallahassee, Fla., market.
Last modified: April 10, 2018
