How Luxury Condos and High Rises In Dallas Compare To Other Cities – Kendall Travis
On this episode of The Closing Table, we sat down with Kendall Travis!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Kendall Travis…
The conversation began with Kendall introducing herself as a connector with a lifelong career in sales, emphasizing her natural inclination to forge connections between people. Her pre-real estate experience involved linking individuals in various industries, a skill seamlessly integrated into her successful real estate career. Beyond her professional life, Kendall is a passionate foodie, having lived in both Dallas and New York City for 13 years, relishing the diverse culinary scenes in both cities. Describing herself as a perpetual student of life, Kendall constantly seeks to broaden her knowledge to enhance her role as a realtor. Additionally, she fulfills roles as a wife, stepmom, and caretaker for her parents.
Moving on to her real estate career, Kendall has been licensed since 2012, initially venturing into real estate as a side hustle in New York City. Notably, she worked with the royal family of Qatar, handling their complex demands and intricate transactions. After moving back to Dallas to care for her ailing parents, Kendall decided to reestablish her real estate career in Texas, facing challenges breaking into the Dallas market. Despite the hurdles, she has found her stride and is gaining momentum.
Discussing her current market in Dallas, specifically Turtle Creek in uptown, Kendall highlights the unique charm of Turtle Creek Boulevard with its tree-lined streets and high-rises. Her residence offers unobstructed views of Turtle Creek Park, a prominent feature in the area. The neighborhood boasts a vibrant, urban atmosphere with diverse demographics and a rich arts and culture scene.
Shifting to the economic aspects of her market, Kendall notes that the average price in Turtle Creek is around $900k, reflecting the distinctive high-rise and full-service building landscape. The average days on market stand at 35, slightly above the norm but still favorable. While prices have experienced a modest slowdown, Kendall observes a closer correlation between listing and sale prices in Dallas compared to the more significant disparities seen in New York.
With a remarkable track record of over $100 million in luxury residential condominium transactions, Kendall reflects on the high-stakes world of luxury real estate, acknowledging the intricacies of each deal. Recounting a particularly challenging negotiation, she recalls her second deal in New York involving four apartments purchased by the royal family of Qatar. The initial negotiation with seasoned agents reached a successful price point, only for the clients to change their minds and opt for all the units, necessitating a renegotiation of the entire deal.
As a new agent facing experienced counterparts, Kendall navigated the pressure, eventually securing a deal worth $44.6 million over two and a half years. A notable win from this experience was building a lasting friendship with one of the agents, a high-profile figure at Douglas Solomon, whom Kendall eventually welcomed to her brokerage, fostering a mentorship dynamic.
Shifting to the topic of relocations, Kendall draws on her personal experiences of living in Chicago, New York for 13 years, and eventually returning to Dallas. She shares a recent memorable experience involving a former spine surgeon from Tulsa, Oklahoma, seeking an urban high-rise property in Dallas. Despite initial hesitations and a lack of understanding about high-rise living, Kendall took the time to educate the client on the nuances of a communal living setup.
Recognizing the client’s unfamiliarity with the concept, she patiently provided all the necessary information, emphasizing the hands-off nature of high-rise living, including amenities like valet service and community boards. This educational approach, coupled with Kendall’s reassurance and support throughout the process, resulted in a successful deal and a satisfied client who now loves his urban high-rise lifestyle. The client’s positive experience led to referrals, showcasing Kendall’s commitment to building long-term relationships beyond the transaction. Emphasizing her dedication to client satisfaction, Kendall underscores the importance of post-deal check-ins, transforming client relationships into lasting friendships.
In Texas, strict laws require real estate professionals to provide Information About Brokerage Services disclosures, ensuring transparency and consumer protection. Kendall contrasts this with her experience in New York, where such disclosures were less prevalent. However, in Texas, compliance is non-negotiable. Kendall simplifies the process for her clients, explaining that it’s a disclosure, not a contract, mandated by Texas law. She views this as an opportunity to educate clients about their rights and expectations, particularly beneficial for new clients who may be apprehensive about signing unfamiliar forms. Kendall believes that a clear explanation empowers clients to make informed decisions, dispelling any concerns about misunderstood paperwork.
Addressing the impact of the post-pandemic real estate market, Kendall acknowledges a noticeable cooling effect. While cash buyers in her area may not be significantly affected by interest rate fluctuations, economic uncertainty has led some potential buyers to delay high-end purchases. Kendall notes a peculiar trend in Dallas, where despite the overall market slowdown, the influx of individuals from New York, Chicago, California, and DC has driven demand for high-rise living.
The conversation wraps up with Kendall emphasizing the importance of consistency in real estate practices in response to the challenging market conditions. Regardless of market fluctuations, she adheres to her established systems, which involve regular follow-ups with clients, maintaining brand connections, and engaging with her network on a personal level. Kendall underscores the significance of genuine interactions, not solely focused on real estate transactions, but also on building lasting friendships. By consistently providing value and staying connected, Kendall believes that a realtor can navigate through any market downturn, reinforcing the idea that true success in real estate lies in unwavering consistency.
Check out Kendall Travis:
Facebook: https://www.facebook.com/kendallsowerstravis
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