Thanks to the right planning and preparation, Northrop Realty is able to pivot in any direction. Here’s how that led to its best year ever in 2020.
Years in business: 35
Size: 14 offices
Regions served: Maryland, Delaware, Washington D.C., Pennsylvania and Virginia
2020 Sales Volume: $1,433,039,047
2020 Transactions: 3,365
“We are a full-service brokerage that has partnered with Long & Foster to be on a national level, and Christie’s Great Estates to capture the luxury clientele,” says Northrop who has more than 30 years of award-winning experience in the industry.
Together, with his wife Carla, Northrop and the Creig Northrop Team have been serving the Mid-Atlantic region for 20 years.
Keith Loria: How did you first become interested in real estate?
Creig Northrop: My mother, Elaine Northrop, worked as a licensed sales agent during my childhood. I would run around her office and watch her become successful, trying to be a sponge, learning everything. I would listen intently to what she was saying to clients and how she did it.
KL: How has the pandemic impacted the firm?
CN: We learned to pivot quickly. Our leadership team collaborated on a plan for operations during the pandemic, assuring staff that the company would successfully navigate the challenges. The pivot occurred nearly seamlessly, thanks in part to a commitment to technology we made five years earlier.
KL: Tell us more about that.
CN: We had partnered with Matterport, which showcases properties online with extensive virtual tours, and committed to using 4K Fusion photography to showcase properties with precision. In 2019, we sold 33 homes without the buyer visiting the property, and in 2020, the number doubled in just the first few months of the pandemic. We grew from the pandemic, creating our best year ever in Northrop Realty history.
KL: How has your market fared in 2021?
CN: Due to limited inventory, our market and values of homes continue to grow. As an example, our brokerage put 86 homes under contract in just three days the second week of April. We expect this trend to continue, as interest rates are still low. Many people are moving out of tight-knit urban areas as they ask themselves the ultimate question: “Where would I like to quarantine next?”
KL: How do you ensure your agents are happy?
CN: Constant communication is key, creating a care-first culture, where we are invested in their business growth year-after-year. We are giving them opportunities to grow their business using our world-class technology and proven systems, our in-house marketing, and NorthropU, our continuing education program.
KL: How does the firm stay up with the latest technology?
CN: We have expanded our Salesforce platform, which is continually updated, to create the many technology tools that keep the agent front of mind for the consumer who is ready to buy or sell. We adapted Spacio to make the open house experience safe, secure and successful for our clients and agents. In addition, our state-of-the-art website is built for speed and meeting our consumers’ needs immediately.
Keith Loria is a contributing editor to RISMedia.