Pulse of Regional Real Estate Development is fast and strong: Key takeaway from John L. Scott’s Annual Builder and Developer Breakfast
By Annie Gustafson | John L. Scott Real Estate
BELLEVUE (Nov. 10) – Over 140 real estate industry professionals including builder, developers and industry experts gathered yesterday morning at the Bellevue Club to hear keynote speaker Brian O’Connor discuss what keeps the pulse of the regional real estate industry beating so fast. According to O’Connor, who is certified as a general real estate appraiser for the state of Washington and holds an MAI designation, the biggest influencer on new development is job growth.
“Last year, Greater Seattle added approximately 51,000 jobs,” he said while summarizing Washington State Employment Security Department statistics. “Starting in 2010, our current population boom has created more households per year than ever before,” he said. Of course, many of these new employees and their families need a place to live.
Stu Linscott, Vice President in Commercial Banking at Washington Trust Bank in Bellevue, attended the breakfast—an annual event sponsored by John L. Scott Real Estate – for the first time yesterday. “I attended the event to get current information about the real estate market, equip myself to be a better banker and connect with other Puget Sound leaders in the real estate industry,” he said.
Kent Gibson, Vice President Senior Credit Officer at Washington Trust Bank in downtown Seattle has been attending the breakfast for six consecutive years and he invited Stu. “Our industry is built on relationships and I value that John. L Scott gives us the opportunity to get together with our partners and colleagues so we can start the planning process on how amp up our business and our customer service,” he said.
Following O’Connor’s presentation, Lennox Scott, Chairman and CEO of John L. Scott shifted the conversation from market trends to values. “At John L. Scott, our true north is to put the client at the center of everything we do and to prioritize the relationship over the transaction.” He continued, “I am confident this is what distinguishes us from our competition, and I thank each and every one of you for living into that…one client at a time.”
Additionally, Lennox shared a high level overview the John L Scott Foundation, which served 42 meals at Ronald McDonald House Charities and is projected to help raise over $13 million for children’s healthcare in 2017. “In our business and beyond, the most important thing we do is help people,” he said.
About John L. Scott Real Estate
John L. Scott Real Estate, led by third-generation Chairman and CEO J. Lennox Scott, has been helping buyers and sellers realize their homeownership dreams since 1931. JLS has over 100 offices with more than 3,200 brokers in Washington, Oregon, California, and Idaho, half of whom work for the company and half who work in JLS-affiliated or franchise brokerages. The company is second largest residential real estate broker in Washington state and the fourth largest regional brand in the nation. In 2016, John L. Scott finalized 37,000 transactions worth $13 billion in sales. In support of the company’s core value, Living Life as a Contribution™, the John L. Scott Foundation helped raise $12 million for children’s healthcare in 2016.