As the year comes to an end, we were thrilled to take the time to chat with Bailey Dolian, President + Employing Broker, and Kristopher K. Coe, Managing Broker + Executive Director, to get their views on how the real estate industry has evolved in 2020 due to the pandemic and find out what they did to adapt through the twists and turns. How have they successfully managed everything during this unprecedented year and what do they see for the future? Here’s what they had to say:
Tell us about 2020.
Bailey: Where to begin? It was a year filled with unexpected lows and serendipitous highs. We kicked off the year in Las Vegas at the RE/MAX Convention with the highest attendance ever by RMCC brokers. Just a couple of weeks later, the nation went on lockdown. I can’t think of a year that comes close to requiring so many pivots and unanticipated adjustments in nearly every aspect of our lives.
Kristopher: Given the upheaval and challenges that almost all of us have faced this year, 2020 has felt like living through a bad dream. But there have been bright spots for sure. The R4 Convention in Las Vegas seems like the last vestige of a “normal” life before the pandemic hit. We were lucky to have been able to meet brokers from all over the world, attend classes (in person!), see a Journey concert (without masks!), eat great food, drink at bars, and see live shows. That feels like a bygone era in retrospect.
What are your proudest RMCC moments of 2020?
Bailey: On August 31st, after months of hard-fought negotiations, we signed the closing documents to purchase 100 Jackson Street. RMCC has never owned its own space in its nearly 40 years of existence, so this was a huge moment for the company and signified the shareholders’ commitment to RMCC’s continued growth. Touring the brokers and staff through the building for the first time was one of the most emotionally charged and gratifying moments for me in 2020.
Kristopher: The purchase of 100 Jackson Street was a big one. It was emotionally-draining and stressful to pull all of the pieces together. But the satisfaction of a job well done and putting such a grand in vision into the “accomplished” bucket felt like hitting a hole-in-one. Working closely with Bailey and Louise through the deal will be my fondest of memories. So many long discussions, so many laughs, so many twists and turns. We’ll be forever bound by the experience. A big shout-out to Clegg Porter (Orange Coast Title), Jon Goodman (Frascona, Joiner, Goodman and Greenstein) and our steely Board of Directors — they nudged us forward with their confidence and charisma.
What is the most important lesson you learned?
Bailey: Maintain a sense of humor! Our forced adaptation to pandemic life is beyond challenging. Without the ability to laugh at technical difficulties, failed homeschooling attempts, and missed meetings, we would all go insane. I have always believed that in order to be an effective leader, you must display humility and offer grace and acceptance to others in return.
Kristopher: Thank god that I chose real estate as a career (or rather, that real estate chose me!). Who would have thought that real estate of all things would break sales records in 2020 and become a resilient, calming force in the face of so many economic woes. The old lesson remains the same: invest in real estate – it’s your safest bet. I’m feeling damn lucky and humbled for our banner year. The other lesson, of course, is “Don’t be an asshole!”.
How have your brokers handled the ups and downs of 2020?
Bailey: Maya Angelou said, “You may not control all the events that happen to you, but you can decide not to be reduced by them.” Our brokers did just that. The resilience and infectious optimism they exhibited led to one of the most successful years many of them have ever had. I’m in awe of their ability to adapt to ever-changing health orders, restrictions, and rules while still maintaining a positive outlook.
Kristopher: Our brokers aren’t average. They are tough, savvy, and seasoned professionals — the best of the best. So it wasn’t surprising to see them handle 2020 with grace, comic relief, and charitable-giving. Whether fundraising for CASA, Frontline Foods, Children’s Miracle Network, Denver Rescue Mission, or Hope Through Horses our brokers stepped up for a myriad of causes in 2020. They also inspired me by being highly collaborative and willing to share their winning formulas with one another while deep in the trenches of the most competitive market in the nation.
What are some interesting ways the pandemic changed real estate?
Bailey: The pandemic has caused a lot of people to reassess their lifestyle needs. We’re seeing a huge number of out of state buyers moving to the Denver area from more densely populated cities like San Francisco and New York. Many consumers are looking for more indoor and outdoor space as remote working and learning becomes more commonplace.
Kristopher: The yearning for more space, lower density, and the ability to work remotely has reinvigorated the suburbs and has made “dream houses” a reality. Consumers can buy their mountain house or little farm and seemingly abandon urban-dwelling in favor of the simple life. Is this just a trend or a wave of the future? We’ll see what their bosses say….
What do you see for the Denver real estate market in 2021?
Bailey: All indications point to another strong year for Denver real estate. Our lack of inventory is at historic lows, and demand is higher than ever. Couple these factors with record low interest rates, and it’s tough to think otherwise.
Kristopher: I’d have to agree 110% with Bailey. Denver, and Colorado for that matter, show no signs of slowing down. Boulder (#1), Denver (#2), Colorado Springs (#4), and Ft. Collins (#5) were all named to the top ten of US News & World Report’s “Best Places to Live in the U.S.” in 2020. With press like that, I think that Colorado is on the verge of becoming a prime destination hub on the world stage.
What are you most excited about for 2021?
Bailey: Moving into our new office! The amount of planning and preparation feels stifling at times, but we are beyond excited to finally enjoy our new space.
Kristopher: Recruiting. We’re about as homegrown and entrepreneurial as you’re going to find. If you want a brokerage that gives you the opportunity to be a Co-Owner, values your creative input and business sense, and doesn’t rely on charging a big split to keep the lights on — then you’ll find your home at RE/MAX of Cherry Creek.