Spence Drake | Houston Real Estate
Experience changes
how you see the deal.
After nearly three decades in real estate and real estate finance, I’ve learned that the most important part of a transaction often isn’t obvious at first. My job is to understand the entire picture, identify the leverage and help my clients make better decisions.
28
Years of real estate
and real estate finance experience
About Spence
Real estate is rarely just about the house.
I’m a native Houstonian who has spent nearly three decades working in real estate and mortgage finance. That experience has given me a perspective that extends beyond finding a home, putting a property on the MLS or negotiating a single contract.
A good real estate decision involves the property, the market, the financing, the negotiating position and what the transaction means for the client’s next move. I approach each transaction with that larger picture in mind.
Perspective
One transaction. Multiple disciplines.
The strongest strategy often comes from understanding how different parts of the transaction affect one another.
Real Estate
Understanding neighborhoods, inventory, comparable sales, competition and buyer behavior is the foundation of a sound purchase or sale.
Negotiation
Price matters, but so do terms, timing, leverage, contingencies and understanding what the other side actually needs to make a deal.
Finance
Financing can materially change the economics of a transaction. Understanding that side of the deal creates another perspective when evaluating options.
Houston
A Houston perspective built over decades.
Houston isn’t one real estate market. Memorial behaves differently from Magnolia. The Woodlands is different from the Heights. New construction in Fulshear presents different questions than an established home inside the Loop.
My focus spans Houston’s established neighborhoods and its major growth corridors, with particular attention to distinctive homes, premier communities, new construction, acreage and move-up opportunities.
Local Knowledge
Houston changes quickly.
New roads change accessibility. New schools influence demand. Master-planned communities create new centers of gravity. Builders open and close sections. Commercial development changes entire corridors. Good advice requires paying attention to what Houston is becoming, not simply what it looked like five years ago.
The Approach
Strategy before activity.
Buying or selling a home can create a lot of activity. Showings, inspections, offers, financing, appraisals, repairs and deadlines can easily become the focus.
I prefer to establish the strategy first. Once we know what we’re trying to accomplish, the individual decisions become much easier to evaluate.
Understand the Objective
Start with what the client is actually trying to accomplish, not simply the immediate transaction.
Study the Market
Use current competition, recent transactions and market behavior to establish a realistic position.
Create Leverage
Preparation, information, presentation and timing can all improve a client’s negotiating position.
Execute
Once the strategy is established, communicate clearly, solve problems quickly and keep the transaction moving.
Real Estate + Mortgage
One transaction. A wider field of view.
In addition to being a REALTOR®, I’m a licensed mortgage loan officer. Those are separate professional roles, but the experience gained from each helps me understand the complete mechanics of a real estate transaction.
For clients who choose to work with me on both sides, having one point of contact can also make communication between the real estate and financing pieces considerably more efficient.
What does the deal actually look like?
Purchase price is only one number. Interest rate, cash to close, seller contributions, builder incentives, taxes, insurance and financing structure can materially change the economics of a purchase. Being able to evaluate those pieces together can reveal options that aren’t obvious when they’re considered separately.
Clients
Different moves require different strategies.
The process changes depending on what you’re trying to accomplish. My role is to build the strategy around the move rather than force every client through the same process.
Home Sellers
Establish the right market position before the home launches. That means evaluating value, competition, preparation, presentation and marketing together, then using buyer response and market data to protect the seller’s negotiating position.
Home Buyers
Go beyond finding available homes. Compare neighborhoods, value, condition, competition and financing so the offer strategy reflects both the property and the current market.
New Construction Buyers
Compare communities, builders, lots, incentives and financing with independent buyer representation focused on the complete transaction, not simply the model home.
Move-Up & Lifestyle Buyers
Coordinate the sale of the current home with the purchase of the next one. Equity, timing, financing and negotiating leverage are evaluated together so both sides of the move support the same objective.
Let’s Talk
What’s your next move?
You don’t need to have everything figured out before we talk. Tell me what you’re considering and we’ll start by looking at the options.