The amount of business conducted in our regions in 2015 shattered all records. Corcoran had signed contracts of $22 billion and closed sales of $19 billion in 2015.
Overall there were 2% more sales in Manhattan (market-wide) than the prior year. Corcoran did 30% of the deals.
Corcoran Sunshine did 50% of all new development deals in the borough.
The number of high-end sales was greater than ever and Corcoran had the largest share of them. As a result, our average price outpaced the market. The average sale price in Manhattan in 2015 was $1.8 million, but Corcoran’s was $2.1 million.
The volume of sales in Brooklyn was up 21% from the prior year, to $3.7 billion market-wide.
Corcoran agents outperformed the market in Brooklyn too. Our average sale price there was 32% higher than the borough average, and we had significantly more new development listings and sales than anyone else.
Why does Corcoran outperform? What sets us apart?
Some great new offices. (2015: Chelsea and SoHo. 2016: Carnegie Hill and Westside Gallery; planning for East Side, Training Center, CSMG, Williamsburg and Fort Greene)
Tech enhancements: new Taxi reports, Quickstats.
The primary difference is in the company’s philosophical approach. Remember the Live Who You Are philosophy. You deliver a level of service people can’t find anywhere else.
We surveyed our top agents to ask the secrets of their success, and though most mentioned hard work and tenacity, they all pointed to an emphasis on nurturing personal relationships.
How does our emphasis on personal relationships and customer service manifest itself? Pam imagined four unique listing presentations.
The first: emphasizes status associations of the brand, specialization in niche marketing. Puts snob appeal first.
The second: emphasizes the agent as the focus. Puts the agent first.
The third: claims to have the best of everything, emphasizes bells and whistles. Puts the firm first.
The Corcoran agent: listens, asks questions about the property and the client. Presents agent and firm bona fides within a strategy customized around the needs of the seller. Puts the customer first.
Agents are the heart and soul of Corcoran – our success is rooted in you. People are greater than numbers. Pam discussed our Be Greater recruiting campaign, and future digital and social network campaigns.
“THE FUTURE IS NOT SOMETHING WE ENTER, THE FUTURE IS SOMETHING WE CREATE.” We have a lot of great things coming this year.
Re-introduced the agents to Jill Benedict, Executive Vice President of Marketing & Advertising, and Geoff Brookins, Chief Information Officer.