Real Estate / Houses

Dallas Real Estate Legend Innovates and Stays Nimble Under New Coronavirus Realities

Having Weathered Many Storms, Allie Beth Allman is More Than Optimistic About North Texas' Real Estate Future

BY // 04.07.20

Allie Beth Allman began her real estate career in 1985 and soon became synonymous with Dallas’ best houses and a high-profile clientele.

Allman oversees one of the most productive single-office residential real estate firms in the nation. She is the founder and president/CEO of Allie Beth Allman & Associates, a Berkshire Hathaway affiliate. The award-winning brokerage firm that bears her name was formed in 2003.

She’s seen plenty in her 35 years in the real estate business and the current coronavirus pandemic is the latest reality she has her firm quickly adapting to — with Allie Beth Allman & Associates pivoting to give the same level of service it’s always been known for in some innovative new ways.

The majority of Allie Beth Allman’s exclusive listings are in Dallas’ most desirable neigborhoods ― Highland Park, University Park, Preston Hollow, Bluffview, Turtle Creek, Uptown and Lakewood ― but the firm covers the entire Dallas-Fort Worth Metroplex and touches major luxury markets around the world. In other words, few people are as qualified to comment on the current real estate climate as Allman.

She answered all the questions for PaperCity in this exclusive Q&A:

PaperCity: This is not the first storm you’ve weathered. Tell us about another economic slow-down that you’ve faced and what you learned from it?

Allie Beth Allman: This is nothing compared to what I went through in 1985. All three major banks went under, along with most of the savings and loans. There were simply no lenders to work with, so we got creative and began trading properties instead to get clients into new houses. I’ve learned that you simply have to keep going.

PC: The real estate market has upswings and downturns. What do you expect in Texas and especially in Dallas, as we come out of these current restrictions?

ABA: I’m telling my agents that we need to get on our roller skates and be ready to roll. I’m not discouraged at all about the situation right now. In fact, I think we are going to be swamped when we can all get out again. People are stuck at home right now, but they are ready to make a move.

PC: Most businesses have had to make dramatic shifts in how they do business. In an industry like real estate, where interpersonal relationships are such an integral part of the equation, how are you currently doing business during the pandemic?

ABA:  We are holding our staff meetings via Google Meets, and it’s been very successful. Now we have a new way to communicate once this ends. If someone is sick, or there is bad weather. . . now we have options like that. We just held our Virtual Spring Tour, and we sold several homes that way. We’ve been doing virtual home tours for years now, and it’s something I think we’ll do even more of in the future.

Some of our agents are introducing their clients to new neighborhoods by simply driving in separate cars and communicating over their cellphones. Plus, we have the Internet now. There is really no reason anything should stop. And it’s brought back use of the telephone, allowing our agents to have that personal touch that had all but disappeared with texting and emails.

People are so glad to hear from you now, and we are so lucky to have all these tools to use.

PC: How do you expect businesses will change because of this current health crisis, and the economic climate that will result from it?

ABA: I understand that some sectors, like our restaurants, will be hurt by this, but I don’t see that at all in real estate. Our first quarter of 2020, for instance, we are up 21 percent over where we were even last year, and I don’t expect that to change much. We are so blessed to be in an industry that continues to benefit from all the companies still moving to Texas. We remain better off than some other areas of the country.

Allie Beth Allman – sign
Allie Beth Allman sees no signs of a slowdown in the Dallas real estate market.

Plus, how do we know that anything is going to change in the long-term? I am very optimistic about the real estate market. We closed our office on March 16 ― like everybody else. But, between then and April 3, we have executed $100 million of business on 121 new contracts and have added 65 new listings as well. I feel like we are going to be just fine.

PC: Is there any upside to all this?

ABA: We are all making lemonade out of lemons right now. This has given us all more time with our families and even the chance to tackle some of those items that we’ve been too busy to take on. I’ve used this chance to clean out my database. It’s a great opportunity, really.

We’ve all been confined, but as long as we are following the rules, this is something we can get over. There is so much that we can do right now.

PC: With your decades of experience in local real estate, you’ve been through numerous historic events that have shaped the market, so you have a unique perspective. What one piece of advice you would give to clients at this time?

ABA: Don’t panic. Give it some time. I think we’ll all know a lot more in about a month.