Ladies and gentlemen welcome back to another Eslashimidab your host Alvaro to bring you another exciting guest today We're gonna be heading all the way to our stint Texas to have with us our good friend and luxury real estate specialist Michael Racer He is one of the leading real estate experts when he comes to the outstanding market and he is with Douglas element Within the team of equangomas. They've been killing it. They've been doing amazing in a very hot market So he's gonna tell us all about the latest trends and what they've been doing to keep themselves at the top So super excited about the conversation and I hope you guys enjoy it He is demand the mid-delegend. Well, thank you for having me I'm really excited to talk about some some great things that are going on here.
No absolutely. Thank you for joining us I know that is so many things happening in the house thing I'm a big fan itself of that particular destination and I know that the real estate has been booming So yeah, things are really booming the eklon domes team is doing super well And we're excited to launch the sport folio of homes by Highline homes Which is an incredible builder here and this is actually what I have in the background right now is Our launch home. It's called the curve house. You can't quite see above me But it's these beautiful architectural curves by coexist studio Which is a prominent studio here and this is in Barton Hills, which is actually my hometown neighborhood You know, I'm born and raised in Austin And this is really what I compare now to the bird streets in West Hollywood It is a winding beautiful green neighborhood that has some of the most significant architecture in the city and it's situated right above downtown So it's an unbelievable place to be Wow sounds really a spectacular and obviously you've been from there who better than you than to sell this beautiful project That's what I said.
I feel very grateful for it It's an incredible collection that I'm doing with Alex who's on my team who's actually from Calabasas So he really brings the knowledge of the buyer coming in from California as well But we're still seeing a lot of even though the market has changed We still are super robust here in Austin, especially at these prices with things that are special and architecturally significant So what will you say that makes that particular project stand out from everything else? Well, just like in the bird streets You have a number of spec homes and spec builds and some of them There's a whole spectrum of what those are which some are lower quality and non-architecturally interesting and some are high quality and very significant And this one I think buyers like to see something exciting going on with the design and they want to see strong indoor outdoor living We have beautiful pocketing sliders here a pool and an incredible deck details from the street are beautiful gorgeous up lighting and Gagano appliances throughout beautiful stone finishes Artisan floors and that's what buyers are looking for and also just having a price correctly which we are here You know, we're under a thousand dollars a foot for this house We're at four thousand feet and we're priced just under four billion at three nine nine five So I mean to me, it's a no brainer. It's a beautiful intuitive layout and you know, I mean, I know I'm biased But hi, it's a very special place Which buyers are you referring to where you see in the highest and then coming from? So we have really strong demand from buyers within Texas We have a lot of eyes on Austin and especially this neighborhood from Dallas and Houston and even San Antonio Which is just about an hour, you know, hour and a half from us here in Austin and then out of state We see a lot coming in from Northern California I mean LA Central California as well, but Northern California to get a lot of green and a lot of space But also to have a really strong remote work presence if they need but also to be very close to downtown your 10 minutes To the heart of downtown Austin So if you're going into the office still then it's an incredible location for you You've seen any slowdowns like we've seen across the entire state like what something that you are seeing more and more recently Well, Austin has a lot of micro markets So, you know, the important takeaway about what we're seeing is short answer is yes We've seen a slowdown and we've seen an adjustment But the important thing to remember which I think is true You know when I talk to top brokers across the country is if you're priced correctly and you're In a timeless neighborhood like Barton Hills and like some of the other central Austin neighborhoods We have then it is still in high demand and we're still seeing multiple offers and really really quick turnaround time to get an escrow So if you price the product well and it's in an area that people love then it will go if you're over pricing the product or it's in an area that is Maybe more transitioning than it is a little bit harder things aren't you know going in escrow immediately as they were when we had such You know a strong buyer demand for very very limited inventory overall We're still limited and things are still trading, you know, within roughly Typically 5 percentage points at the list price is the close price But there's strong demands and it's coming from in state and out of state So how do you and your team position yourself so that you are successfully selling these properties?
Well without dropping it too much you just price you to price well from the beginning, right? I think that you know now more than ever we're not only of course looking at sold Compromoles, but we're also looking at what what it appears on the market What are we competing with that's important in Barton Hills because right now Everyone's looking for the best comp for these spec houses And you want to have great marketing and you want to price it well from the beginning and get it in escrow So that you actually have sold data coming in for properties like this So the marketing is more important than ever and that's something that I think we do phenomenally well at Equin-Bomes is getting the word out there Like nobody else can getting incredible press for our properties. I regularly have my listings featured in Rob Report Wall Street Journal The Times more architectural publications mentioned global and very proud of that our PR team society group and Douglas element PR do an incredible Job working with what we have and getting it out there and marketing is what is the differentiator right now in you know Today's time. I think you know two years ago or less things would get in contract just by putting them on MLS And that's just not the case anymore.
It's really digging in showing how it's different and capturing the buyer that way How do you stand out from all these other brokers and agents out there? I think it's really with our marketing with our branding with having a really strong brand and having the national allegiance We have with our other teams in the other markets and Douglas element and excellent goams They've always been very strategic about following the wallet following the trail of where the money is my country And that's important because that's where the buyers are so we're able to capture those brokers or those buyers within our team even and such incredible trades happen within Douglas element and You know within Equin-Bomes so I think for sellers to be able to tap into that is a really important opportunity and one that this can't really be missed right now because Time is of the essence. You have to strike while the iron's hot You have to have good marketing and be well priced and in Austin It's exciting too because you know the big issue for locals was if I sell two years ago Maybe I get a great price, but where am I? What can I afford to move into and now it's still a good time to sell when we're pricing it right and we're marketing it right?
And you can buy in to something like this house that people you know Maybe wouldn't have had the opportunity to when pricing was so so high for some products So we see a lot more intro Austin moving as well, which is which is great, especially being a local seat up So you as a local, what is your I guess top three favorite things to do in Austin? I just love walking around all the different neighborhoods You know, especially when the weather is as beautiful as it is now We have so many great natural things to do great places to hike great places to swim, you know Barton Springs Is you know a three acre naturally spring fed pool that's in the middle of Zilker Park Zilker is the Austin City Levitz grounds and it's kind of like our central park It's it's a great place to be I love walking around our neighborhood We live in Hyde Park, which is a small for one of Austin's very first neighborhoods, and there's great bakeries and cafes and coffee shops So I would say that you know, I have a two and a half year old So spending time with my life is probably my favorite thing to do and takes up a lot of time But I also love the South Congress district which is about seven minutes from where I am right now So this you know just shows what a great location this is South Congress is just a straight shot over and that's where we have our SoHo house that's where we have Jenny's ice cream. It's where we have some of the best restaurants That's where we have Equinox. That's a it's a special place.
It's very fun It's exciting, you know, and I'm honored to work with EG and behalf of the special team that works with me here in Austin You know, it makes every day fun So I know that we asked you to see the past and I always ask our guests that I love the term luxury What is for you? Luxury to me, and I know it can be a little cliche, but I really do think luxury Is the service that you provide to the seller and I'll kind of elaborate on that a little bit You know, there's a house across the street from here that we're listing because you know his wife passed away You know some number of months ago, and you know, it's it's not a super expensive house It's a house that someone may you know renovate or they may put something else there But it's not the most high dollar deal and it's not the shiniest property to market But that's a very special situation to me, especially being in my neighborhood and knowing that that's very deeply personal And you have to and you want to something you have to you want to treat someone like that with more care almost than you would You know a developer or your highest level seller. It's it's the same kind of attention It's the same service and hand-holding in a good way and explaining the process And it kind of brings me back to the roots of the business So how how can you treat this person and really show them that you have their back and that you're advocating for them And that I treat them how I would want someone to treat you know, one of my parents I'm not they were going through the process So I want them to have a luxury experience just as I want someone selling a $50 million house to have a luxury experience So that's really what it means to me. You know, I really love the analogy of thinking how somebody you would like somebody to sell your parents, you know And provide that service to your parents.
That's a very profound and beautiful way to look at it. Now, just last question And I'm very curious to know what will you say your 20 year old Michael if you have to start over again? Oh, that's a good question. I would say really always think about other people and how you make them feel And you know also just just to constantly be in touch with people because I've seen so many people here recently come in my life That I you know I lost touch with or you know, it's been so exciting, you know, not from a business but from a personal point of view It's been to have those people come into your life.
So keep in touch with them Write them letters call them. I always tell everyone just pick up the phone That's the strongest thing we have in this business is to just to be in touch with the people around you and ultimately The people around you are what make every day possible and exciting and fun So I would just say starting it starting when you're out of college or you're 20 Be in touch and really keep a log in the contact with the people I think and you know the age of social and digital It's we sort of put that on the back when they're always there kind of sitting in the pit of Facebook Whatever, but you know, maybe be more personal because you know, we're all such short degrees of separation from each other So just enjoy the people around you and be in touch. I love it I love it and also what you mentioned at the beginning and how you make people feel because that's how people will remember They won't remember what you did for them How you made them feel I do appreciate you really drop some really strong gold nuggets and I know that your business is Like that you're at right now. So is there anything else I'd like to share?
I would just tell everyone to really you know follow you and you know follow my page to really see as this works Folio develops we're launching some incredible properties and we have a lot of exciting things going in Barton Hills But also in the rest of central Austin I think in regardless of what market you're in there's some of the most exciting properties I've seen anywhere starting to pop up on the market and They have real pricing and you know, I know that you and myself can help anyone and point them in the right direction in any market At the end so that's where I would be said well everybody make sure to follow Michael He's the man he's the one that is gonna put you up to speed on the good stuff happening in Austin And I appreciate you my friend. It's always a pleasure speaking with you I wish you well congratulations and everything you're doing and can't wait to go visit. Thank you And thanks again for everybody tuning in today. We hope you enjoyed it and remember embrace its beautiful success in life My name is Alvaro and I'll see you next time