by Rick Mauch
daltxrealestate.com Contributor
Ebby Halliday Realtor Monica Otis says the most important role a real estate agent plays is that of educator. Helping buyers make one of the biggest decisions they will ever make — buying the American Dream — is part of her calling.
“I’m the kind of gal who will explain things thoroughly, educate and give options, and guide my clients in their best interest,” she said.
Otis knows that challenges abound in the real estate business — inspection and repair concerns, juggling deadlines and closing dates, and keeping all parties happy until and after closing — but that’s why Realtors are paid the “big bucks” to overcome these challenges as they arise.
‘The Market Will Be Hot Hot Hot Come April’
Also, markets can change rapidly and significantly. Last year, after two years of COVID lockdown, there were multiple offer situations with buyers paying up to 30 percent over asking price. Then, the market slowed down in the fall and winter.
“The market this year is picking up steam and we are again seeing multiple offers with over asking price in some areas. The market will be hot hot hot come April,” Otis said.
One of the challenges facing the industry today are do-it-yourself buyers and sellers, or For Sale By Owner (FSBOs) as they are known in the business.
“They can certainly get the job done without a Realtor. But FSBOs are naturally exposed to risk due to their lack of market knowledge and contract knowledge,” she said. “While many websites allow FSBOs to advertise, they will not get top dollar without the experience and exposure a professional Realtor brings.”
And while she expects the market to heat up again soon, there have to be residences for the many people flocking to Texas.
“We need more housing units. Lots of families are downsizing, and some households are now multi-generational,” she said. “I’d like to see more developments that offer smaller affordable homes — 1,300 to 1,800 square feet — as not everyone needs 3,500-plus square feet. I’d like to see cities allow accessory dwelling units, such as tiny homes in backyards.”
Nearly Forty Years As a Realtor
Otis is just about to start her fourth decade as a residential real estate agent.
She started with Century 21, moved to RE/MAX, and a decade later joined Keller Williams until finally she found her way to Ebby Halliday Real Estate.
“I saved the best broker for last and have been with Ebby Halliday Frisco since 2012,” she said. “Joining the Judi Wright Team in 2016 was the best decision ever! Our team currently has four licensed agents and we work together supportively and seamlessly. Between us, we have over 65 years of experience in residential real estate.”
Before real estate, Otis’s career took several turns. After getting her degree in petroleum land management from the University of Texas, she moved to Hawaii for two years, where she worked in magazine publishing and marketing. When she moved back to Dallas, Otis owned and operated a video recording business, specializing in filming weddings and legal depositions.
Hometown Girl
But Dallas has nearly always been her home base. Born in Dallas, Otis was raised in Farmers Branch, the third child of seven.
“Our street was lovingly nicknamed Vatican Row, due to the many large Catholic families that lived there,” she said. “I have lived in Carrollton, Lewisville, Plano, and The Colony, so I know these areas well.”
She’s had some fun along the way, too. Between 2004 and 2009, she co-owned and operated a winery in Little Elm. “We didn’t grow grapes, but did make some mighty fine wine,” Otis said.
When she’s not busy in real estate, Otis has a favorite hobby.
“My only child is now a family law attorney in Denton and happily married,” she said. “In 2019, she gave me a new person to love, my grandson. She and he are my pride and joy!”
