“Every week, we ask an Boston real estate professional for their thoughts on the top trends in Boston real estate.
This week, we talked with Carmela Laurella, president of CL Properties.
Boston Agent (BA): CL Properties is dedicated to cultivating a “synergistic” workplace, in which the team works as a whole to boost the strength of listings and sales. How do you accomplish this team atmosphere?
Carmela Laurella (CL): We make more money together in a team atmosphere then we would apart. My team is the magic behind the success. I have hand-selected each one of my agents and staff. I often speak of my company not as a real estate business, but as an investment banking firm. This means we do not measure success on individual achievements. I have a team for each one of my listings. Some of my partners retain teams for their own listings as well.
Each person brings a different strategy to the table depending on the type of real estate that we need to sell. I have a licensed appraiser, Scott Accorsini, that sits directly behind me in the office. Next to him is my senior vice president, Dave Costello, with a remarkable ability to analyze the market and keep course. I have another vice president, Travis Sachs, who heads all of our marketing and advertising facilities. The list goes on – Nothing goes through my office without my team of professionals behind it.
BA: As someone who’s known for her marketing and advertising proficiency. What would you say are the foundations of a successful marketing campaign?
CL: We have simple foundations. Portray and capitalize all the information. Triple check everything. The goal in any of our print or online marketing material is clarity. The consumer should never have a question. A good marketing campaign leaves the buyer to just ask: “When can I see this property?”
BA: Boston continues to struggle with inventory, and recent construction data suggests building levels aren’t rising to meet demand. Where do you see Boston’s inventory going in 2015?
CL: We expect inventory to remain tight in 2015. New developments like Millennium Tower or Fan Pier will have minimal impact because they will be delivered so late in the year. We expect both buildings to have penthouse sales over $2000/sq. ft. – which will help high-end values grow. Developments like Four Seasons and Lovejoy Wharf will have an impact upon completion in 2016. The lack of inventory is a direct result of credit markets freezing for several years during the financial crisis. Besides Millennium and Sawyer (Millennium Place and The W), developers did not build between 2008-2011, and we think we are now going to see some of those affects.”