We are here with Tracie Copeland, the founder, owner-broker of Copeland & Co. Real Estate. Tracie is a Certified Negotiation Expert and in 2012, she was contacted by HGTV to be featured on My First Sale as one of the top Realtors in Palm Beach County. Her boutique real estate company serves buyers, sellers, and investors of residential and commercial real estate throughout the eastern seaboard of Palm Beach County
Q Tracie, what is your professional background? How did it lead to forming Copeland & Co?
A I started my real estate career 15 years ago by working for top real estate attorneys in my area. In 2006 I opened a title insurance company with two partners and did very well. That lead me to get my Florida real estate license in 2010 to deepen my real estate knowledge and to learn the other side of the transaction. From 2010 to 2015, I’ve closed more than 100 transactions, and worked with various brokers. However, I’ve never had a good experience with brokers in Palm Beach County. They are inattentive and uncooperative, and most brokerages lack a supportive culture. So, with a vision in my head of what a brokerage could and should be, I pursued my Florida Broker’s License in August 2015, and by September, Copeland & Co. Real Estate was operational!
Q Are their differences in selling luxury properties versus selling in the common market?
A Selling luxury real estate requires more patience, better and more targeted marketing, and a deep understanding of all the various luxury communities and neighborhoods. The luxury real estate buyer is a smaller and more tight-knit pool of buyers, the market for homes priced closer to the median price ($310,000 as of May 2016). As a luxury real estate agent or brand, you are selling the lifestyle, so everything you do has to be five star service. These clients expect the best, and rightfully so!
Q What price point defines a luxury home in Palm Beach?
A Over 1 million
Q What is a common problem you see your clients have in choosing the right property? How do you help them to decide?
A The biggest problem I see buyer buyers having currently is their hesitation to act quickly. Palm Beach County’s real estate market is a fast moving market with limited inventory. If they don’t act quickly, it’s gone! My job as their Realtor is to show them an accurate picture of the market right up front. I schedule a buyer consultation in my office in West Palm Beach before we go tour homes. I make sure to show them what’s available with their criteria and also show them how quickly homes go under contract. After that meeting, they are dialed in to what they need to do when they see a home they love.
Q Can you give me an example of how your experience in real estate has changed the priorities of a client from what they thought they wanted or needed in a property to a choice that would truly fit their lives and make them happy?
A I had a client that ruled out a home that was out of her price range and it didn’t necessarily fit their “ideal’ home by the photos. I knew the home and location was great for them, I just needed them to see it. In addition, I did my research and knew the home was overpriced for the neighborhood and knew I could make it happen. I went to the home without them to shoot a video walk-thru and sent them that. I told them they would love it, they just needed to come take a look. So they did and fell in love and we closed last week for a substantial amount less than list price!
Q What are the top three questions your clients ask while showing a property?
A
- History of home, renovation, repairs, roof, etc..The home and neighborhood market activity.
- The home and neighborhood market activity.
- Has the home increased its value over the past few years and the likelyhood of it increasing in the next five years.
Q What advice would you give to a buyer in the luxury real estate market? What should they look for in an agent?
A Look for an agent that knows the market well in the area you are looking. They could suggest a different neighborhood you might not have thought of. Also, make sure they provide a high level of service, great communication and most importantly….that agents needs what I call “the hustle”!
The hustle is about being tech-savvy, relationship-savvy, and customer service savvy. It’s about being the go-to person for knowledge about a market; having the answers to common issues before they come up so you know how to solve them; being able to figure out what motivations are driving the people you are surrounded by, so you can help your clients reach their goals and get to the closing table. It’s part self-motivation, deep practical knowledge of the market, and part psychology. The agents who have “the hustle”, are the most successful agents in the business. That’s who I train my agents to be!
About Tracie Copeland
Tracie Copeland grew up in Palm Beach County, Florida. For more than 15 years, Tracie has worked in some capacity in the local real estate market, from real estate law to escrow and title, as the former owner of a successful title company. In 2009 she earned her real estate license, and in 2015 earned her Broker’s license, opening her own independent real estate company in West Palm Beach, Copeland & Co. Real Estate.
