With more than 20 years of experience in the luxury real estate industry, Rainy Hake, executive vice president and chief operations officer for Alain Pinel REALTORS®, has seen some big developments over the years, noting that 2015 was a windfall for the greater San Francisco market.
“We have experienced double-digit growth year after year since recovering from the recession, exceeding even our pre-bubble results from 2006 and 2007, and 2015 was historically our best year ever with $12 billion in closed sales volume,” says Hake. “While we have continued to grow our footprint and marketshare, despite limited inventory, the greatest factor has been the increased average price point.”
Alain Pinel REALTORS® has predominantly focused on luxury real estate in the Bay Area, closing out last year with an average price point of more than $1.44 million, spurred in part by a very unique microclimate with a strong economy and attractive lifestyle in which consumers are willing to invest.
While the firm receives frequent offers to franchise its name and open offices in places like Beverly Hills and New York City, its philosophy is to remain within driving distance of its offices so that its leaders can manage the quality and consistency of the brand.
“We are always looking at growing our firm in a responsible and organic way that helps us to better support our client base. Given that we live and work in one of the best places in the world, this has been a lucrative strategy for the past quarter-century,” Hake says. “However, given the global economy, we also find it necessary to have a national and international reach for our clients and agents, and this is why we have partnered with Leading Real Estate Companies of the World® and are founding members of Luxury Portfolio International®.”
Both affiliations allow the firm to be both local and global with its expertise. While the firm may not have offices in every country around the world, it has quality agents in over 60 countries.
Locally, Alain Pinel REALTORS® is opening a new office in San Francisco, in the dynamic SoMa district, in mid-2016.
“This region is seeing a lot of exciting growth due to the high-rise developments and tech migration from Silicon Valley, appealing to modern homebuyers both domestically and internationally,” Hake says. “This will be our fourth office in the city, including our Investment Group, which is the largest seller of apartment buildings in San Francisco.”
Like most regions, a lack of inventory is the firm’s greatest challenge, adding to buyer frustration as demand outweighs supply.
“We focus on understanding consumer behavior, trying to position ourselves where the puck is going and leveraging technology tools to increase efficiencies while improving client experiences,” Hake says. “We love looking beyond the real estate industry to see what innovators are doing in fashion, technology, and beyond. By looking at other industries, we are inspired to bring a similar experience of quality, luxury, and customer service to the home-buying and -selling experience.”
Vitals:
Alain Pinel REALTORS®
Years in business: 26
Size: 33 offices, 1,400 agents
2015 sales volume: Over $12 billion
2015 transactions: 8,400+
Region served: The Greater San Francisco Bay Area
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