Five Questions With: Merit McIntyre

Merit McIntyre recently was named president of Coldwell Banker Residential Brokerage in New England, and will oversee the daily operations of 80 real estate offices and 4,000 affiliated sales associates and employees in Maine, New Hampshire, Massachusetts and Rhode Island. McIntyre, who started his career as a sales associate, responded recently to several questions on real estate and the regional market.

PBN: Earlier in your career, you were regional vice president for Coldwell Banker offices in Maine and New Hampshire. How is the northern New England real estate market different than southern New England? Do buyers want the same amenities in housing?

MCINTYRE: There are certainly some similarities between those regions. First, all three regions have communities and neighborhoods that are popular for second-home buyers and buyers who want vacation properties. Additionally, properties that are in good condition and priced competitively are most in demand and sell faster. Southern New England communities benefit because they either serve as the home of – or are in close proximity to – major employers and jobs which help support the housing industry.

PBN: What is your forecast for the 2016 spring season? So far, Rhode Island and Massachusetts are having strong years. Will that trend continue?

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MCINTYRE: I wish I had a crystal ball to make predictions. What I can tell you is there are some positive factors that bode well for housing, including strong jobs numbers, lower unemployment, improved consumer confidence and mortgage interest rates that are still low. The hope is that the financial markets stabilize as we enter the spring market. Additionally, since job creation is continuing, that could push more first-time homebuyers into the market.

PBN: What is the greatest challenge or adversity facing the residential market in southeastern Massachusetts and Rhode Island? Is it lack of inventory, lack of newer homes, availability within choice school districts?

MCINTYRE: The region’s economic recovery has been a bit slower than Massachusetts as a whole. For example, the unemployment rate had been running more than a percentage point behind in Rhode Island. However, it’s catching up: In December, Rhode Island’s unemployment rate was 5.1 percent and Massachusetts’ unemployment rate was 4.7 percent. One of the biggest assets that Rhode Island and southeastern Massachusetts have is their waterfront and water-view communities. However, second-home markets tend to go into a recession first and come out of a recession last.

PBN: Why has real estate been satisfying as a career for you?

MCINTYRE: I initially got into the business because I wanted an income that was tied to my performance. As I went into management, I found that I had the opportunity to make a positive impact on dozens of lives. As my sphere of influence has grown, the number of people I can positively affect has grown, and that has been most rewarding. If you take care of your people, the rest will fall into place.
PBN: What advice would you give someone who is entering the profession this year?
MCINTYRE:
Take advantage of all the educational opportunities that are out there and stay committed to continuing your education because the real estate industry is constantly changing, and it’s important to have the most up-to-date information. Joining a local Realtor association is very beneficial because you will be in contact with experienced and knowledgeable real estate professionals. It’s also important to know the inventory and market conditions in your region so you can best serve buyers and sellers. Agents should focus on providing the best service to their clients and their business will flourish as a result.

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