Today, we interview Terry Sprague, owner and founder of LUXE Christie's International Real Estate. Oregon has some of the most picturesque views in North America, to the benefit its homes and estates. Sprague and his team have been behind many of the sales and purchases of the finest in the North Pacific state.
Haute Residence: What tech tools do you use today that you did not use so much in the past?
Terry Sprague: I call them “relationship tools” as technology is only a small part of what I use. The umbrella of these tools is really my relationship with Christie’s International Real Estate. Christie’s opens the door to local, national and international clients who are looking to move into my market. It’s my way of “getting into the jet before it lands” - reaching potential clients early, before they even arrive in town.
The next level of “tools” are my personal contacts. Many brokers use CRM [customer relationship management] tools, but I use pen and paper. Old school, yes, but it works for me. Every day, I look through my contacts and choose two or three people to call. I don’t call them to talk business. These are people I consider friends, and I want to keep a personal connection going. This is my way of staying relevant in their lives. I know that just staying in contact with clients has high ROI.
After utilizing personal contacts comes social media. Years ago, when social media was first introduced, I was skeptical about using it. I reluctantly began using it until I was in London at a meeting and a lady introduced herself and told me that she knew me through social media. That’s when I realized its power. To this day, I use it in an authentic way. I personally do all my own posts - despite my wife scolding me about my grammar. I believe this authenticity conveys what I do, who I am, and that I’m approachable. I don’t post to find clients. I do it for relevance and to stay top of mind.
I also use major affiliations to my advantage. I am Oregon’s exclusive agent for SportStar Relocation, a concierge-based real estate and relocation company that offers professional athletes, entertainers and executives a wide range of relocation services. LUXE Christie’s is Haute Residence’s exclusive Oregon partner, and I’m a member of Realm, an invitation-only collaborative of international brokers.
HR: What has been the #1 selling point of your area in the last 20 years?
TS: I have had the benefit of living all over the world. I moved to Lake Oswego, Oregon, because of family responsibilities but stayed because I became a father here and love and appreciate everything the area has to offer.
It would be hard to point to just one top selling point of Lake Oswego. It’s a community with great schools, excellent outdoor activities and natural beauty with Oswego Lake and the Willamette River. Access to all your daily business is five minutes away, plus you’re only ten or fifteen minutes from downtown Portland.
HR: How are prices in your area compared to this time last year?
TS: Prices in Clackamas County, where Lake Oswego and West Linn are located, are 10-15% higher than last year. The reason is simple supply and demand. There is an increase in buyers moving to Lake Oswego, and we are short on inventory.
Buyers are looking in the area because of the “vacation at home” properties we have here. Acreage, a pool, gyms, and home offices are in high demand. Those are normal parts of the inventory in Lake Oswego and West Linn. The tax structure in Clackamas County is also more conservative than in surrounding counties, making it an attractive area to live.
I predict if interest rates remain low, prices will rise another 5-10% in 2021.
HR: What is your favorite way to network with other professionals in the real estate industry?
TS: Historically, Christie’s International Real Estate has gathered global leaders - art consultants, bankers, investment advisors, and the like - to educate them on the state of luxury real estate. Unfortunately, those events were shut down in the past year.
I’ve turned my attention to more direct communication with other high-end brokers to discuss each other’ s haves and wants. I feel that cooperation is one of the most important aspects of networking. It’s important to make others feel valued as there is no “algorithm” for creating true relationships. I want brokers at all levels to feel respected, comfortable and welcome.
In addition to my direct contact networking, over the past year, I’ve been a panelist on many webinars and Zoom calls that feature market leaders - today’s version of in-person symposiums and conferences.
Terry Sprague is the owner and founder of LUXE Christie’s International Real Estate as well as a co-founder of Christie’s International Real Estate Seattle. As an individual broker, he had $100 million in sales in 2020 and consistently ranks in the top 1% of all brokers in Oregon.
For more information about this home or other luxury properties in Lake Oswego, please contact Terry Sprague at 503-459-3987 or Terry@LuxeCIR.com.
LUXE Christie's International is the exclusive real estate company representing the Oregon & Washington (SW, Central & Eastern) real estate market as a member of the Haute Residence Real Estate Network. View all of their listings here.