01:01:30 · John Coogan, Thomas Wright
[01:01:30] S1: So how does that match against, needing to promote properties through Instagram carousels and reels and bringing influencers in? It feels like the promotional machine around some of these properties is incredibly robust. What are are there? Is there a trade off there or or is there a strategy for that balancing act? [01:01:51] S3: Yeah, there's definitely a strategy. I think now consumers demand more than a one size fits all strategy that we've seen in the real estate market in years past. And we're fortunate to be led by a change agent, somebody that really understands this and is willing to bring change to our industry with Robert Revkin. I mean, he understands that consumers want a custom approach for their property. And it could be somebody in the general real estate market that has a security concern. Maybe they don't want somebody who has a restraining order against them knowing they're selling their property. Or maybe it's a high end client like those NFL players whose homes were targeted when they were on the road. Sure. You know, our job now is to sit in... With clients and ask them, how do you want your property promoted? What do... What risks are you willing to take? How much exposure do you want? And what can we do to fulfill our duty to you? Yeah. And not to some one size fits all system that that we have with the MLS in yesteryear. [01:02:45] S1: Yeah. That makes sense. What about
01:02:45 · John Coogan, Jordi Hays
[01:02:45] S1: Yeah. That makes sense. What about [01:02:46] S0: what about, like, overall... Like, I imagine you you spent time in a lot of these different markets. You have somebody coming in that's interested in what Utah has to offer, but I imagine a lot of buyers are looking at a lot of the other places you previously set up. Somebody might be trying to decide between Utah, Deer Valley versus Jackson or somewhere in Colorado. They might still be looking at Sun Valley and there's like trade offs in between all the different sort of regions. What's your what's your pitch for for Utah? And then when would you send people to other places?
01:03:25 · Thomas Wright
[01:03:25] S3: I love that they shop all the resort markets. I think that's fabulous. I was in our office in Jackson Hole or I'm sorry, in Lake Tahoe one day and I saw a client and I came home and then I saw the same client walking into our Park City office. So they're definitely shopping the resort markets and they should. They are all very different. They all have different attributes and unique things to them. And I just want clients to find what what works for them. So if it's in another resort market, I'm happy to refer them to somebody with Sotheby's International Realty in that market and let them let them find the property that works for them. Utah is unique because Utah has consistently been number one in business opportunity. Have a very friendly tax structure. We have the newest airport in The United States, which has been a boon for our economy. We're becoming a sports city with the recent addition of the NHL team to Utah. And then best of all, the East Village at Deer Valley doubled the terrain of Deer Valley, while XTell Development simultaneously is building Four Seasons, Waldorf Astoria, their ski in ski out lots at Deer Valley. They already finished the Grand Hyatt. And then there's even a great affordable option called the Piosche Village where you can buy a condo really close to the... To ski access for about $400,000. Woah. And I know one of your avid listeners that introduced me to your show, Gavin Van Wagner, would be stoked to hear his name. But there is a plethora of options there at the East Village Of Deer Valley, and it's really doubled the terrain. So our resort market has experienced this incredible growth because we've been able to double the amount of skiable terrain. And Deer Valley, you know, is consistently ranked the number one ski resort in North America, and you can get there now without going through one traffic light from the Salt Lake City International Airport, the newest airport in the country.
01:05:11 · John Coogan, Thomas Wright
[01:05:11] S1: Woah. Yeah. That's huge. Pretty good pitch. What, what what is the the the history of the real estate market in Utah? Like, what what are the key inflection points? I imagine COVID was a big one. Is the the the housing crisis, like, what what are the turning points where you noticed, okay, business is different. We're in a new normal. Take us through some of the history, throughout your career. [01:05:33] S3: Yeah. I think Utah's always had this insecurity complex that, like, people didn't know we were here. You know? Like, I grew... I was born and raised here, I can say that. I think now we're looking going, why did we want everyone to know? Yeah. [01:05:45] S1: Know? So
01:05:45 · John Coogan, Thomas Wright, Jordi Hays
[01:05:45] S1: Know? So [01:05:45] S3: I've seen it in a twenty five year run. We've gone from one extreme to the other. So it kind of started with the Olympics in 2002. We hosted the Winter Olympic Games. Mhmm. And I think people kind of got exposure to Utah. Wow. Okay. Like, this is a place that, you know, we have a lot of the Olympic athletes that are based here now and train here because we have all the venues. The Olympics are coming back in 2034, which we're really excited about. And I think we saw a really steady growth through the great recession, but COVID really changed Utah. And the reason it changed it was people realized that you can access these incredible mountain communities in this this unmatched outdoor lifestyle, whether it was the big Cottonwood Canyons where Snowbird and Alta are or the Red Rock, you know, national parks of Southern Utah or experiencing Park City and Deer Valley. Utah just has this incredible outdoor lifestyle. And I think during COVID people realized, hey, I'm going to work remote anyway. This seems pretty affordable compared to Vail and Aspen. [01:06:40] S0: Sure. [01:06:40] S3: And, you know, the airport's closer. It's easier to access. It's tax friendly. The people here are super friendly. It's a great place to live. We have the highest volunteerism in the country. Like, Utahns are all about just helping their neighbor, and people kinda figured it out. And COVID was a huge turning point for Utah. And since then, it's just it's been nothing but accelerated growth.
01:06:40 · Thomas Wright, John Coogan, Jordi Hays
[01:06:40] S3: And, you know, the airport's closer. It's easier to access. It's tax friendly. The people here are super friendly. It's a great place to live. We have the highest volunteerism in the country. Like, Utahns are all about just helping their neighbor, and people kinda figured it out. And COVID was a huge turning point for Utah. And since then, it's just it's been nothing but accelerated growth. [01:07:02] S1: What, what features of houses at the high end are, are are newly trending? Like... And what... I mean I mean, I guess, what what... What's on an upswing? What's on a downswing? Like, what what what was in a previous era the the the hot amenity that is no longer and vice versa? I'm I'm interested in [01:07:21] S3: Good question. I I wanna host you guys in Park City, Deer Valley. So you reach out to me. Come. I'll show you some of these luxury homes in Deer Valley. [01:07:28] S1: Yep. I'm in. [01:07:29] S3: Yeah. Let's do it. Come out and let's check them out. [01:07:31] S0: Yeah. We we actually talked to a couple buddies, like, last year about doing a... Like, if we were to do a winter event, Utah would definitely be at the at the top of the list. Yeah.