Alyce Wright, a sales associate at Lila Delman Real Estate International, recently was named the 2016 Realtor of the Year by the Newport County Board of Realtors. She is a director for the Rhode Island Association of Realtors and a member of the Women’s Council of Realtors. An alumna of Harvard University, she worked for 10 years at Morgan Stanley and Goldman Sachs before turning to real estate as a career.
PBN: How did you enter real estate?
WRIGHT: The short answer is that I fell in love with the charms of coastal Rhode Island and wanted to introduce buyers to this very special place and help them buy property here. After buying a vacation home in Newport whilst I was living in London, I decided to move back to the U.S. after over 15 years abroad and make Rhode Island my home. Once I moved to the Ocean State, I wanted a career where I could use my entrepreneurial, sales, marketing and negotiating skills, and work with clients on a personal basis. Buying or selling a home is a deeply personal experience and real estate seemed like an excellent fit for me as I use the skills honed in my prior jobs.
PBN: You have an economics degree from Harvard University. How does that background enter into your occupation?
WRIGHT: I am very analytical by nature and hence I enjoy providing market analyses for my clients to assist them in making informed decisions. My knowledge of and interest in economics keeps me in tune with the broader trends within the economy both nationally and internationally and how this affects our local Rhode Island real estate market.
PBN: What advice do you give sellers in today’s market? Are they expecting higher prices?
WRIGHT: My advice to sellers is to realistically price your property based on recent comparable sales and choose an enthusiastic and knowledgeable, full-time Realtor and their company who can best showcase your property to the market. Your Realtor is your advocate to the market who will negotiate on your behalf to help you achieve success.
PBN: What is the greatest challenge of your profession?
WRIGHT: Unrealistic expectations is one of the greatest challenges. Some sellers can have unrealistic price expectations based on what they paid for a property and the improvements they have made without looking at recent sale prices achieved on similar properties. Some buyers can have unrealistic price expectations and think that if a property has been on the market for over a year, that they can lowball a seller and expect a positive response. Additionally, certain type or price points take longer to sell, and sellers need to have realistic expectations as to how long it may take to sell a property. Many unrealistic expectations can be addressed by better educating sellers and buyers as to market data and trends.
PBN: You are an advocate for continuing education for Realtors. What are the greatest educational needs for working real estate associates?
WRIGHT: To be successful, Realtors need to be knowledgeable about many topics such as online marketing and advertising, real estate law, mortgage finance, home inspection issues, flood insurance and many more areas. At the Newport County Board of Realtors, we hold breakfast meetings where we have guest speakers who share their expertise on topics which are relevant to Realtors. Additionally, the NCBR has also had success with “Lunch & Learn” sessions. Both the breakfast meetings and the lunch sessions are excellent ways to stay current on market topics and to learn new things.
