Realtor Perspectives

Richard H. Thackston, Century 21 Thackston & Company in Keene, Newport, Peterborough, and Winchester, New Hampshire, and Brattleboro, Vermont

New England Showcase recently interviewed Dick Thackston, the president and broker/owner of Century 21 Thackston & Company.

Showcase: What’s your connection to New Hampshire?

Thackston: My family and I moved from Maryland to New England in 1991. We live in the house where my wife grew up in Troy, so I’ve become very familiar with the vagaries of rehabilitating a 200-year-old house. Another connection I have to the area is through my grandparents, who had a house in the Newport area that I traveled to every summer since 1959.

Showcase: How and when did you become involved in the real estate industry?

Thackston: After graduating from college with a bachelor’s degree in economics, I ran out of money and couldn’t go to law school. So I looked at my options and told myself I could either be a waiter or sell something. I got into real estate and never looked back. I’ve been a nationally recognized salesperson since 1983, when I was selling real estate in the Washington, D.C., Maryland, and Virginia area.

Showcase: How was the transition from selling real estate in the Washington metropolitan area to Northern New England?

Thackston: When we relocated in 1991, the real estate market had collapsed. I worked for another broker in Keene for two years, then functioned as an independent — R.H. Thackston & Company — from 1994 until 1998, when I acquired the Century 21 franchise. The quality of life is what brought us here. Our lifestyle is so much less compressed. We don’t spend two hours in traffic getting to the office, so I feel as if my time is spent more productively. As homebuyers transfer to this area from more urban areas, I’m familiar with the decompression and jet-lag effect most of them experience, so I’m able to help them get in tune with the way life unfolds here.

Showcase: What was your incentive for acquiring the Century 21 franchise?

Thackston: Our company had grown to become third place in the market area. It was time to take another step in enhancing our services for buyers and sellers alike. In acquiring a franchise, we gained a greater world view. Century 21 is said to be the largest of the national franchises, with name recognition right up there with Coca Cola. That name recognition alone has tremendous value for our home sellers; more buyers respond more quickly to our listings. It’s been a very positive experience for all of us — my wife and I, the people who have come to work for us, and our buyers and sellers. Since then, we have expanded to include offices in Peterborough, Winchester, and Newport, New Hampshire, and, more recently, in Brattleboro, Vermont.

Showcase: What made you decide to expand your reach across the border to Brattleboro?

Thackston: Keene and Brattleboro really form a cohesive market. From time to time over the years, Realtor boards in both areas have tried to work more closely together. The two markets share an interchange off Interstate-91 in Vermont. And southwestern New Hampshire has a slower growth model more similar to Vermont than to the rest of New Hampshire, due to zoning laws enacted at the local level. Having said that, there are also differences between the two states — Vermont was originally a family farm state and is thus more rural, while New Hampshire has always been a manufacturing state and is more urban. However, both states have indeed developed tourism as a strong industry.

Showcase: What trends do you expect to see in real estate in New Hampshire and Vermont over the next 3 to 5 years?

Thackston: I think the upward pressure on price will remain for a few reasons. Real estate is not an artificially created good, it is a fundamental need. Even if the economy turns down, there is still a need for grocery stores, shoe stores, and real estate agencies. The real estate industry is less cyclical than the insurance industry, for example. Real estate is driven by population, and the economic model of our region is such that fewer units mean higher prices. And as long as we have our wealthier neighbors to the south in Connecticut, New York, and New Jersey, our region will be an “exit destination” and the upward pressure on our housing prices will remain. One thing to keep in mind, though, is that we really only regained price parity from the late 1980s/early 1990s just two years ago. We now have a better underlying structure to support those prices.

Showcase: What is the most common piece of advice you offer those who are seeking or selling property?

Thackston: Go with an agency like ours. We consider success to be a quality issue, not a money issue. I believe our agency is better off having an agent who does three transactions well, rather then 30 transactions not well.

Dick can be reached at 603-357-5524 x111 or c21rht@aol.com.

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