NEWTOWN TOWNSHIP >> The brand new offices at Keller Williams Newtown are bustling these days as agents and homeowners benefit from a red hot real estate market.
With mortgage rates at an all time low, it’s a sellers market. And homeowners are taking advantage of the rates in large numbers.
On Thursday, the local Keller Williams team took a break in the action to officially cut the ribbon on their new digs at 12 Terry Drive in the Newtown Business Commons and to show off the new space to the community.
Accented with the Keller Williams logo and a striking red and black color scheme, the newly renovated, super modern 9,000 square foot space features several conference rooms, individual offices equipped with the latest technology, a coffee bar, a break room and other amenities.
The local company, which boasts just under 150 agents, moved into the space in early September relocating from the back to the front of the building and nearly doubling its square footage.
“This allows us to keep on growing and to bring in more agents, which is awesome,” said real estate agent David Marcolla, principle of the Dave Marcolla Group. “We have the number one market share in the local area. This allows us to keep that momentum going.”
While the pandemic has ground many businesses to a halt, the real estate industry is bucking the trend thanks to low interest rates.
“You can’t beat 2.7 percent type rates on mortgages so it’s keeping the buyers motivated. And sellers are now seeing they are getting top dollar,” said Marcolla. “The Philadelphia metro market, which includes this area, has seen the highest year over year increase in price. Home values are over 12 percent. So anyone who has been waiting and thinking they may not need to sell are seeing they might not get that value in the future so why not jump on it. So we’re all busy, which is awesome. It’s a great industry to be in and help people to achieve their goals.”
According to Marcolla, the Newtown area continues to be in demand. “I just sold a house last week. We had an open house and the next day I had seven offers above asking. People want to be here. We have great schools, a great community and people don’t need to be in Philadelphia or New York because they’re working from home so why not chose based on the community?”
Marcolla said if you’re considering buying or selling your home, make sure to chose the right agent “because you’re going to be working with that agent daily. Make sure it’s someone you really connect with. And ask them about their experience in the local market. How many homes have they sold this year? What was the sell price compared to the close price? Do your homework.”
Marcolla said what sets Keller Williams apart is that not only is it the world's largest real estate franchise with more than 186,000 real estate agents operating in 975 offices across the globe, it holds the Number One spot in units and sales volume in the United States.
“This year so far I have sold 28 homes year to date with a little more than $11 million in sales. I hold the number one spot in our office out of 158. That’s because Keller Williams allows me to do that,” he said. “I’m not restricted by any type of formal structure. We’re all entrepreneurs. I have my own group. I’m involved in the community. I love this area. And most of my business comes from referrals. It’s all about delivering good customer service and making sure that the buyer or seller enjoy the experience.”
Marcolla said while Keller Williams is the largest real estate company in the world, it doesn’t spend money on marketing. Instead, the money goes into developing technology that provides agents with apps and other tools that put them on the cutting edge for their clients.
State Senator Steve Santarsiero, whose office is located just across the street, stopped by to help Keller Williams celebrate its grand-reopening and to help cut the ribbon.
“I’d like to congratulate them on the expansion,” he said. “Obviously it’s a great opportunity to grow the business and with the real estate market going pretty strongly right now it’s a great time for that. We’re happy for them and wish them well as they move forward.”
Also attending the event was Beverly Dimler representing the Newtown Business Association.
Keller Williams Newtown is located at 12 Terry Drive, Suite 204, Newtown, Pa. 18940. For information, call 215-860-4200 or visit www.kellerwilliamsnewtown.com