BrokerIPTV: Today we are talking with Scott Webber, the new owner of Fuller Sotheby's International Realty here in Denver and Scott, welcome to the show.

Scott Webber: Yeah, thanks.

BrokerIPTV: Glad to have you here.

Scott Webber: Thanks. Good to be here.

BrokerIPTV: Tell us a little bit about yourself.

Scott Webber: Little bit about myself; well, I am actually from Utah and was born and raised there, I have lived there most of my life. Actually, I am a third generation realtor. I was going to be the first Webber to do something different [laughter] and actually I never worked there in that family business and started my career in Salt Lake City back in 1976. So, you know, my interest is certainly always been in the real estate business. <watch video>

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Posted on November 21, 2008 09:07:39 by Mark Eibner

Posted in Headlines, Denver Colorado Real Estate, Real Estate Industry, Luxury Home Market

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BrokerIPTV:  Today we are talking with Scott Webber, the new owner of Fuller Sotheby's International Realty and Scott, welcome to the program.

Scott Webber:  Dan, thank you.

BrokerIPTV:  Glad you are here.  In our first segment, we talked about you purchasing Fuller Towne and Country Properties and converting it to Fuller Sotheby's.  Obviously, any time you come in and you change ownership and you buy a new brokerage firm, you have got a lot of challenges.  The first is how do you keep the natives happy so to speak, how do you keep all of the agents staying with the company?  Were you concerned about that change over and their perception?

Scott Webber:  Yeah, that's a natural concern and with about any other brand and with about any other organization, I would have had a lot more concern, but you know having been part of Sotheby's now for about six or seven months in parts of the Utah and it has just been my experience that as people discover it, that they discover the actual value and they are excited about it.

BrokerIPTV:  People on the outside looking in would say, "That guy has got a lot of guts buying a real estate firm in this economy."  Did that ever occur to you?

Scott Webber:  Not really.  You know having been in this business since 1976 and in a variety of markets, I would like to think that I have seen it all.  You know, that's never a good thing to say because just when you say that you find you are now seeing something that you have never seen before, but this is a long term commitment and in the long term and in the long run, you have these kinds of things happen and I have managed in soft markets before.  It's nothing unusual and I am just... I am really grateful to be able to be part of the Sotheby's International Realty Organization to manage through that because they bring a lot of great resources and strength to the table.

BrokerIPTV:  What is your gut feeling about the economy?

Scott Webber:  Well, you know, I think that this was inevitable given the gravy train or the crazy ride we have all been on for so long, it just couldn't continue and I would like to think that the extreme times that we are seeing right now really are what we have had to go through to kind of get to the bottom and I really feel like we are starting to see the bottom and you know, how long it is going to take for us to dig out of it, it is hard to say, but I think we are experiencing the pain and the challenges associated with finally being at the bottom, getting all the skeletons out on the table, and working through them and now starting the process of rebuilding.  I think it will be nice to get the election behind us.  A lot of... you know, there is so much instability and uncertainty right now and that's a big part of it, the fact we don't know who is going to be President and so I think when we get that behind us, then we can start working on the rest of it.  So, I just think that we are going to get better from here, but Denver is a unique place.

BrokerIPTV:  You got a two pronged challenge ahead of you.  You have got to introduce Sotheby's to the Denver market which didn't have a huge presence here, it had some, and you have got to market and sell high end properties in a tough economy.  What's the strategy?

Scott Webber:  Well, you know, introducing the brand here is really a privilege and it is amazing how well known the Sotheby's brand is.  A lot of people have experience with Sotheby's from the Sotheby's Auction House and there is a lot of affluent people in Denver and while our brand is largely oriented to the luxury segment of the market, we still serve the entire marketplace.  Today, like never before, you know to get a property sold at the highest price, exposure is what it is all about and to be able to expose a property literally on a national, international platform, just I think gives us a competitive advantage in a market where that's what sellers need today like never before.

BrokerIPTV:  Scott, [Inaudible] much success.  Appreciate you coming in.

Scott Webber:  Dan, thank you very much.

BrokerIPTV:  Thanks.

Posted in Headlines, Denver Colorado Real Estate, Real Estate Industry, Luxury Home Market

BrokerIPTV: Today we are talking with Larry Simpson, real estate broker and one of the former owners of Fuller Towne and Country Properties. Larry, welcome to the show. Glad you are here. (Fuller Towne and Country sells to the power Sotheby's brand

Larry Simpson: Thank you. Glad to be here.

BrokerIPTV: I said former owner of Fuller Towne and Country Properties, we will talk about the sale in just a second, but I want to talk a little bit about your decision to start Fuller 10 years ago with your other fellow brokers.

Larry Simpson: Well, I believe it was in the late '90s, '99, we basically were all the top producers that had a little niche company called The Devonshire Company. It's a high end boutique company that just did a great job on the premium high end properties and unbeknownst to a group of us or to the whole company actually, it was sold and much to our surprise and so, they were going to take the company in a different direction and this was just, just an ideal opportunity for us to start our own company and specialize in the high end that we had done before and expand on that, just take it to the next level. So, that's what we decided to do.

BrokerIPTV: Well, as all of the owners, you had success quickly. I mean in 10 years you built a heck of a company. How did you do it?

Larry Simpson: You know, I would like to say, we were all brilliant, but the truth of the matter was it was a good market at the time. Just as we got started though, we were a year or two into it, we had the great crash in the tech sector, which kind of slowed us down a little bit, but we were able to grow the company because of just kind of word of mouth and the number of years that we had been in the business, we were able to attract a lot of good brokers and a lot of folks came with us and over the years we started out with maybe there was a dozen of us to today well over a 150 brokers.

BrokerIPTV: Last month you and the other owners decided to sell. Why?

Larry Simpson: The... a couple of reasons. #1, the company had grown to a size and complexity that it was just difficult for us as we are salesmen. We... our job is to sell properties and that's what we like to do. This had become a very formidable task to run a company this size, well over a billion dollars in sales, four offices, 150 brokers. It just grew to a size that it was just difficult for us to deal with.

BrokerIPTV: Over the years, there have been other people interested in buying Fuller Towne and Country Properties. You essentially, you know, said no to all of them, but you said yes to Scott Webber and his affiliation with Sotheby's. Why?

Larry Simpson: Because it was a value added deal. In the past, it was primarily just either individuals or companies who wanted to buy our organization and fold it into their existing companies and this was a chance for us to take that Sotheby brand and advance the company further. It was a value added transaction. Believe me, it wasn't about the money. As you might know, in the real estate market today, real estate brokerages aren't selling for a great deal of money. It's not why we did it. We did it for the power that the Sotheby brand brought us.

BrokerIPTV: You go back to now being a regular realtor instead of an owner.

Larry Simpson: Yeah. Yeah. Yeah.

BrokerIPTV: What does that mean for you?

Larry Simpson: Lot more time.

BrokerIPTV: [laughs]

Larry Simpson: Actually, this is fantastic. I have got a lot of time to spend with my family and just doing other activities, but also too it has given me more time to focus on my business and I... basically it has been about 50% of my time in management and 50% of the time in sales. So, now, I am at the point where I am going to be focusing entirely on sales and it feels good and I have a little time off as well.

BrokerIPTV: Okay. Larry, thanks so much for being with us [Voice Cross Over].

Larry Simpson: Thank you for inviting me. I appreciate it.

Posted in Headlines, Denver Colorado Real Estate, Luxury Home Market

BrokerIPTV: Today we are talking with Fuller Towne & Country realtor Tom Narvaez and Tom, thanks for being with us.

Tom Narvaez: No problem Dan.

BrokerIPTV: This is a fun segment for us. It is GenX GenY talking with younger people in the business. One of the things I want to start off with is where do you like to focus in town in Denver?

Tom Narvaez: Generally, really where I live which is University Park, Observatory Park and where I work downtown LoDo. There is a specific building across the street from us Larimer Place about 150-200 units that's fantastic. So, I've sold probably four or five places. I think it is undervalued.

BrokerIPTV: What is happening in those specific areas Observatory Park, LoDo and so forth?

Tom Narvaez: Well, right now in Observatory Park, University Park, there is just a plethora of new construction "scrape" homes and there just hasn't been a ton of activity. About a month ago, I took a look and there wasn't anything under contract over the last two months. So, probably 30 to 40 new construction houses mixed in with some resales and so, it is a lot of inventory right now. As far as Larimer Place goes, not a lot comes on the market and generally gets sucked up fairly quickly depending on...

BrokerIPTV: Really?

Tom Narvaez: Yeah, depending on how... what kind of condition they are in. So, it really is a prime location. You don't get better than that. It is right across from Writer Square and right next to Larimer Square and I think it is a great location.

BrokerIPTV: I read a newspaper column about more people coming out of the suburbs and going back in the city. You know once upon a time it was just kind of fashionable to live in the city, it was cool.

Tom Narvaez: Sure.

BrokerIPTV: Now, it is more of a necessity to live in the city.

Tom Narvaez: Right.

BrokerIPTV: Are you finding more people attracted to downtown?

Tom Narvaez: I am. I am. I mean it seems like that is definitely the way we are going with gas prices and just the younger generation as they are making more money I think everybody is kind of coming back into town. That is what I am seeing from my perspective and where we are at.

BrokerIPTV: When they... when clients call you up, what do they say that they are looking for?

Tom Narvaez: Generally, it really depends on the client and where they are at and what they are doing. I think that people that are moving up are going to see really a good value right now because they may lose a bit in selling, but when they buy, they are going to gain that plus some. So, really depends what they look for. Otherwise, a lot of people just holding tight and they are investing. They are investing in those lower priced properties and turning rentals into five to eight year deals, rentals, and then going to flip them and hopefully double their money in that timeframe.

BrokerIPTV: Hot areas, what is the hot area or areas?

Tom Narvaez: Man, again, I mean I am so focused on my investors right now. North Aurora, the old Old Town Aurora, northeast Denver, just below Stapleton and then probably southwest to west Denver are where a lot of those deals are right now and those are hot areas. I mean there is a lot flying off the shelves right now in those areas.

BrokerIPTV: Tom thanks. Appreciate it.

Tom Narvaez: [Voice Cross Over] absolutely definitely....

Posted in Headlines, Denver Colorado Real Estate, Real Estate Industry, Luxury Home Market, Gen X-Y

BrokerIPTV: Today we are talking with Tom Narvaez from Fuller Towne & Country and Tom, thanks for being with us.

Tom Narvaez: No problem

BrokerIPTV: GenX GenY segment. Do you feel being a younger practitioner in the business helps?

Tom Narvaez: Absolutely. Absolutely. I mean we are so technology based right now that I really think it helps to be in our generation and to be that technological savvy.

BrokerIPTV: When you guys started, who was the mentor? Who helped you? Who is really valuable to your business?

Tom Narvaez: When I got started really, it was my in-laws at the time Denver Colorado Springs and they have been in the business for many, many moons and taught me a lot about what is good to do and what is not good to do. They are kind of 24x7 people. I work hard. I play hard. So, there is a happy medium there, but just learned a lot about how to do real estate and how to really be successful.

BrokerIPTV: What methods do you use to attract business these days?

Tom Narvaez: Mainly sphere[Phonetic], I am a big... I am referral based guy and I think that is the only way to be in the business these days. I think the days of working open houses and doing a lot of floor and sign calls, I mean that's all great, but if you don't have established relationship and a connection with someone, it is too easy for people to move on, especially with technology out there and everything that they have got at their fingertips. A lot of people don't think they need Realtors unless they feel like they have a connection.

BrokerIPTV: What technology do you use to aid the business? Are you a web site guy? Are you focusing in on viral marketing on Internet? What are you doing?

Tom Narvaez: I am really a big... as far as listings go, I am a big web based, just massive presence and I feel like my job as a listing agent first and foremost is to get maximum visibility. So, I generally advertise about 15-20 web sites on all my listings and I think that just gets maximum exposure.

BrokerIPTV: Where do you feel the industry is going?

Tom Narvaez: It is going to go... still continue go web based. I think the savvy age, I mean the savvy people and sellers out there are going realize that they still need listing agents, but I think on the buyers side, it is going to... our roles are going to diminish a little bit just because of technology and it is going to be... we are going to get a call from someone and say I've got two houses, you know that I know that I want and then let's go take a look, a live look and then let's put an offering. So, there may be more... they may be asking for more of a refund type thing, rebate type situation or I am not sure... I am not sure how it is going to play out, but I think from the buyer's perspective it is going to diminish our role and from the seller's perspective, it should stay fairly consistent because especially markets like now, they need professional Realtor.

BrokerIPTV: Thanks Tom.

Tom Narvaez: Thanks Dan.

BrokerIPTV: Appreciate it.

Posted in Headlines, Real Estate Market Conditions, Luxury Home Market, Gen X-Y, Web 2.0 Marketing