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Watts Happenings News and Blog

What Spring Means To A Small Family Real Estate Business.

Web Admin - Friday, May 05, 2017
That good exhausted feeling associated with 60+ hour work weeks. Every spring the hard work comes in more quantities compared to fall and winter.

Residential Property Management : Our Tenants move, sometimes scheduled and sometimes with a surprise. Life takes them to new jobs, new cities, to care for an aging loved one, buying a house, and/or new marriages with even the unfortunate divorces & deaths too. Spring also brings more Tenants to Birmingham for those same reasons. These past two years, some of our many 1 SFH Clients make calculated but very hard decisions to leave the world of being a Landlord to finally selling their investments (which they majority of the time occupied personally & couldn't sell due to the market at the time). These transitions happen in spring. Referrals for new management in and referrals to residential sale's agents out.

Commercial Leasing & Brokerage: Spring increases the real estate economy & related activities. Small businesses and corporations alike make moves; expanding & needing more space, and occasionally contracting sometimes which open up spaces.

Commercial Management: New & seasoned investors need managers, as well as current ones looking for a change in their manager. Luckily we've only seen new accounts this spring. 60+ added Tenants with a newly managed property added to our portfolio just this week. We love being of service to these new accounts as much as we love being of service to our 20-30-50+ year multi-generational owners.

We've been blessed so far this spring. A new $16M+ development opening this month (Flats on 4th). A new long term restaurant build out finishing up (iBrew in 5 Points). Renewal after renewal of current Tenants. Witnessing Chip's two big sales last year opening, one recently (TJ Tower) and one soon (2 Hilton branded hotels). Even the smaller leases starting new relationship (Road Runner Moving as an example). Just closed a sale on raw land that has been listed with us since the 1970s (Shades Valley High School on part of the parcel we sold long ago & now a new SFH neighborhood going up on 30+ acres....still have 29 commercial acres for sale from that original listing). Negotiations ongoing for almost every vacant space for leasing and brokerage. And $16+M in new commercial brokerage listings just in 3 months.

We have 4 new permanent staff just in the last year (two being family coming back into the family business). We have one 13 year staff returning from another state & 1 multi year staff returning from maternity leave. We are growing in # of commercial agents. Maybe an intern from UA starting soon. Our dedicated long term staff is pushing through the work load as well as the ups & downs associated with more work. Chip is gearing up for even more increased service to our industry via his roles in the associations to better our field. We all work like an amazing extended family. I know I've been tough on them & me while we work towards excellence.

Spring is in full bloom with wonderful exhaustion.  Let the momentum continue.

Office Physical Address:
1506 5th Avenue South
Birmingham, AL 35233

800.700.1267
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