Mike Pappas is the president and CEO of The Keyes Company, where he leverages his 40-plus-year experience and leading technology tools to lead the brokerage and its agents to grow in the market.
In response to the COVID-19 pandemic, Pappas implemented a new transaction management system to make real estate transactions easier and more transparent for consumers and agents.
Here, Pappas discusses what it means to be an RISMedia Real Estate Newsmaker—individuals recognized for their positive contributions to the real estate industry—and tech tools and trends that The Keyes Company finds invaluable for its future.
Jordan Grice: How does it feel to be named in the Influencer category for our 2021 Newsmakers?
Mike Pappas: It’s truly an honor. I’m proud to be partnering with such an amazing and talented and forward-thinking team. We’ve got a great team and hard-working and caring associates, so I think it’s a reflection on them and our great organization.
JG: Considering the digital shift happening all around us, what trends do you find most valuable to agents as we look toward the future of real estate?
MP: We believe the associate is at the forefront of transactions, and our goal is to automate many of the tasks for them. We automatically boost and promote every listing, which drives over 60,000 leads into their pipeline. Each web connection that touches our site or their site is retargeted with 15 personal ads over the next 30 days providing over 1 million online impressions.
Those are just a few examples of how we are seeing automation help support our associates.
JG: Where do you see the transaction process heading in the next couple of years?
MP: Everybody is trying to build an online real estate consumer experience that is compelling. There’s a lot of programs and people who are building things out, and we’re beta testing some of them. We believe that agents will facilitate this process using the technology to streamline the process. They’ll walk the client through the buying or selling process with information, videos and timelines.
JG: How should real estate professionals implement virtual platforms and tools into their business if they want to succeed?
MP: You have to adapt. We had three words this year that were our mantra: engage, evolve and enjoy. We wanted our associates to engage with their customers, and we wanted to engage with ourselves. We wanted to continue to grow in a fast-changing world and we wanted to have fun with it.
If you’re looking at technology, look at the process and ask, “Does it drive business or take away a pain point for the agent or consumer?” That’s what we look at, and the vital part, if you’re looking for platforms, is whether it’s a lead generator.
JG: Keyes has partnered with companies like Easy Knock in the past year; what value do you see in brokers and agents using real estate tech tools and alternative buy/sell options for their clients?
MP: We’re in an ever-changing world, and the demands of the consumer keep changing. We are the access for the consumers for many alternative options today. Sellers may want to buy before they sell. They may want to sell and stay. Then there are the iBuyers.
Our associates need to be informed and have the right tools to support their clients. That’s what we think we are offering with all of these alternatives out there.
JG: What trends are you noticing in your market overall?
MP: It seems like the intensity dropped, but with low interest rates, we think that the market will stay strong through the rest of the year because of the demand that is out there. We have a greater demand than we have supply, and that’s not going away anytime soon.
JG: Where do you see the market (macro and regional) heading?
MP: We’re blessed. South Florida is one of the shining stars of growth and change. We have a no income tax state, incredible population growth and limited land, so it is blue skies ahead for South Florida and Florida in general in the coming years.
Jordan Grice is RISMedia’s associate online editor. Email him your real estate news ideas to jgrice@rismedia.com.
