Born and raised in Michigan, Kathy Broock Ballard is a fourth-generation real estate professional – the great-granddaughter of the founder of Max Broock, REALTORS®. She has been selling in Oakland County (northwest suburban Detroit) for more than 23 years, specializing in luxury and lakefront properties in the Birmingham-Bloomfield area. With nearly $50 million in production, Ballard gained recognition as the state of Michigan’s top individual producer for 2010.
First of all, congratulations on being Michigan’s top individual producer. Tell us a little about the market in your area and its economy?
Michigan was one of the first states to enter the downturn, and we’re one of the first to come back. Right now, we are undersupplied in terms of inventory and I’ve seen a 5 percent uptick in pricing in the Birmingham area. I recently placed a $1+ million home on the market and it got three offers the first day. Just last week, I had five relocation buyers contact me personally.
What’s coming back (in our economy) is the manufacturing and suppliers. Ford is doing very well. Delphi (auto parts) is now out on its own and doing well. I really watch CNBC and the world of business. I’m not just selling houses, I’m helping buyers and sellers with their biggest personal asset. And it needs to be managed, just like any other part of a portfolio. That focus on the financial aspects of purchasing and selling sets me apart as a businessperson.
You have been cited by your company president for your creative marketing. I love how you posted that interactive map by Trulia on your blog. What are the most important aspects of both your traditional and digital marketing?
What’s interesting about that map is when you look at the density of home sales – look at Michigan as well as Florida. While our situation has been exacerbated by foreclosures, we’re now seeing fewer investors. There’s been an uptick in the market and very little inventory, especially in the $1+ million segment where homes are being sold even before they hit the market. The uptick in that range has been significant: where in 1990 there were only 10 listings priced between $1 and $5 million in Bloomfield, now there are hundreds.
The most important thing about my marketing is that it’s all about branding, which is not cheap. You have to be consistent, and to reinvest in yourself. I’m spending over six figures a year, but even if your production is only $2 or $3 million a year, you have to do things such as picking a niche neighborhood. And the Internet – you have to have a good Website. I’ve gotten eight leads in the past six days from my
Website, which I redid just a few months ago. You have to make the moves to be in control of your own destiny.
My charitable endeavors also work into that mix. I have made a huge time commitment that is genuine and very consistent, and has enabled me to network in spheres I normally wouldn’t have had access to. But it has taken me nine years of working on it to now be known for my philanthropy.
As a fourth-generation real estate professional, was there any doubt you would stay in the “family business”?
When I was a child, I didn’t know I would go into real estate. However, when I was 10 years old, I would go to the drugstore and buy books of floor plans. And when I was 12, I answered the phone in the Max Broock Birmingham office and filed listing tickets for the agents. I did graduate from Michigan State with a bachelor’s degree, taking a broad range of subjects that work well for me now – things like business, marketing and advertising.
Are your children going to make it a fifth-generation business?
I don’t know!
