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September 11, 2006
White Coat Real Estate — 'Physicians in training our specialty'
What a superb idea.
When Christine Lisle, the founder of White Coat Real Estate in Charlottesville, Virginia, moved here with her husband, a resident at the University of Virginia Hospital, she immediately noticed there were no realtors in the area specializing in physicians.
She said, "Each year there are 60 or 70 residents or fellows either coming into or leaving the university and there was no one here to embrace that niche market."
She filled the gap, starting her company in 2004 and quickly building it into a hugely successful enterprise with over $9 million in closed business — comprised of 37 transactions with an average price of $250,000 — in the first eight months of 2006 alone.
Her listings average 33 days on the market before selling.
Her list-to-selling price ratio is 100.12%.
Sounds like she's doing a lot of things right.
bookofjoe tip to any reader who's a real estate agent in a city or town with a teaching hospital: exploit this market segment.
September 11, 2006 at 12:01 PM | Permalink
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Comments
Hell, I exploit the hell out of this in the rental market!
Most of my roommates have come directly from Physicians In Training...they need a place to stay for a couple of months before they move on to their next residence. They aren't cheapasses, they pay the bills up front (had one pay 4 months before she moved in so that she wouldn't have to worry and aske me what the estimated utility usage was going to be and added that to it).
Heck, if my current roommate that is an old college buddy ever moves out, I'm right back to the hospital and putting up a sign on every wall...usually the room is filled within a few days.
Posted by: clifyt | Sep 11, 2006 3:11:54 PM
