VITALS:
Patriot Real Estate
Years in business: 31
Size: 1 office, 4 agents
Coverage Area: Metrowest Boston
www.patriotrealestate.com
After working in higher education, Paul G. Yorkis earned his real estate license in 1991. He then founded Patriot Real Estate, which is based in Medway, Massachusetts.
Instrumental in the growth of Medway, Yorkis authored a trio of grants to fund Medway’s acquisition of a farm, which is now known as Idyllbrook Park. He also helped bring a commuter shuttle bus service from Medway to the Norfolk train station.
Building on his past career, Yorkis is also a certified real estate instructor. He has developed three courses that are now part of the approved continuing education curriculum for the Commonwealth of Massachusetts.
In what ways did your career in higher education prepare you for your transition to real estate?
Paul Yorkis: When I worked in higher education, I was responsible for campus planning, permitting and hiring architects. I had been a member of the planning board, the conservation commission and the economic environmental board, so it was an easy transition.
Over the past year, what challenges has the Massachusetts market faced?
PY: There’s such a scarce amount of inventory. I advise when they’re considering purchasing a home to not waive a home inspection, because what you see is not always what you get. A lot of clients take that advice, and unfortunately, some have not been successful in making the purchase. It’s been frustrating, especially for first-time homebuyers.
What makes Patriot Real Estate unique?
PY: In addition to being a small firm, we only represent buyers or sellers in a transaction. We don’t ever do dual agency. We work together as a team so that if someone isn’t available, but a client needs something, they don’t fall between the cracks. As the owner of the firm, I make myself available to my agents 24 hours a day, 365 days a year to answer any questions they may have as far as how to best represent a client.
What’s the secret to bringing in new business?
PY: A lot of our business is referral—people who have been incredibly happy with the representation we’ve provided them. I also have my construction supervisors get licensed in Massachusetts. This ensures that the builders I work with understand that I’m aware of any new construction, and if an issue comes up, I am capable of representing them and handling negotiations.
Please describe some of the advantages of going with a smaller firm.
PY: Not only does the consumer get to know the agent, but they also know that they won’t get lost in the shuffle like they might with a larger firm. And that we will only represent their side in the transaction, it helps them understand that we are with them—and that our loyalty and responsibility to them is paramount.
What is your outlook for the remainder of 2022?
PY: I think it’s going to be a year where sellers will have the advantage. I think interest rates will increase, but they will continue to be pretty modest. There’s a desire to create more housing here in Massachusetts, but that’s a challenging process because there are so many steps and so many approvals needed. One of my biggest pieces of advice is if you find the right home—and you’re planning to be in that home for five to seven years—you might as well buy now because there’s not going to be a substantial change in inventory.
Keith Loria is a contributing editor to RISMedia.
