Lynn Hackney, President of Urban Pace, is responsible for founding one of the most innovative and successful real estate sales and marketing firms in the DC area. Here, she gives District Home a glimpse into what goes into her booming business, her new 14th Street location, and a vision of the future of Urban Pace.
How did you start your business?
I was working in partnership with one of the Washington area’s largest and most influential developers, now called EYA, and was exposed to the company’s expertise in the marketing and sales of their award-winning residential communities and product. Seeing the opportunity to provide this type of assistance to other developers, I decided to form Urban Pace in 2001.
What does Urban Pace do?
Urban Pace is the leading condominium sales and marketing firm in the Nation's capital. We have been number one in market share in our field for many years, even during the financial downturn, during which Urban Pace experienced record-breaking prices and sales pace. Urban Pace focuses on unique historic buildings in urban neighborhoods, and as such has developed an expertise in historic rehabilitation. Unlike all of our competitors, we employ a unique business model, with all sales managers serving as employees, which means that they have higher compensation and truly function as a team. We handle all aspects of projects from conceptual design to financing to exit strategy. Using our deep knowledge of the city government, we play a critical role in helping clients obtain project entitlements and public support. And we have a relationship with an equity investment firm to assist on the financing side as well.
What sets Urban Pace apart?
For one thing, Urban Pace is the only woman-owned major brokerage firm – including both commercial and residential brokerage -- in the Washington metropolitan area. We specialize in new multifamily for-sale product in select urban neighborhoods – working exclusively with developers. We provide a range of services that goes well beyond marketing and sales, and offer our clients unique advantages such as our UP Velocity™ digital marketing program, which saves our clients thousands of dollars by reducing traditional marketing budgets. This system creates an ideal sales process for each customer by placing the right sales representative with each individual buyer at just the right time.
Interview by Caitlin Moore