Dallas is filled with leaders in all areas of the luxury industry from builders, and designers to architects and, of course, Realtors. I could not think of a better person to kick off our new Luxury Leaders column to discuss luxury buyers, than Compass Real Estate’s Becky Frey.
After three decades in the industry, Becky’s name is synonymous with luxury real estate. She’s a consummate professional and knows this market inside-out.
Last year we saw an enormous influx of out-of-state luxury buyers coming to town at an increasingly rapid pace. This week we ask Becky about her experiences with this tsunami of buyers and their particular needs.
Daltxrealestate.com: With so many luxury buyers coming to Dallas from other states, what questions are they asking?
Becky Frey: The majority of my buyers with children want to know about schools, so we’ve been giving out a lot of information on both public and private schools. Everyone has been in a rush to get here, and the Park Cities has fulfilled many of their requirements.
CD: What did you spend a lot more time on last year?
BF: Explaining neighborhoods, their character, and vibe. People from another state don’t know how Highland Park differs from University Park or Greenway Parks, or Preston Hollow. We’ve spent a lot of time explaining the lifestyle of different communities. We have many inquiries about communities that have their own fire and police departments, so the Park Cities is a great choice for those clients. Gated communities have been a hot ticket. For buyers looking to have a Dallas base, we see interest in condos, especially for those buyers looking to use a Dallas property as a homestead.
CD: Are incoming luxury buyers looking at new construction or interested in building?
BF: Absolutely. They ask us about builders, their reputations, and if those builders will be around if a problem crops up! You have to be a matchmaker. Builder and buyer personalities have to click. Understanding who is the best person to design and expand a Tudor, for instance, versus a contemporary is critical.
CD: Are we meeting the expectation levels of our out-of-state luxury buyers?
BF: Yes, buyers are thrilled with Dallas. Everyone I’ve talked to is impressed with how friendly everyone is and the fact we are not on total lockdown. Of course, they are realistic. They know this is a different lifestyle, and our homes look different, but they are embracing Dallas.
CD: What’s your outlook for our luxury real estate industry in 2021?
BF: I think a level of confidence has returned. We are all dealing with the present situation, protecting each other, and moving forward. Everyone is very respectful of one another. I think we are going to have a great year.
