Ms. Nike John, founder, is 25 years old
Vibe has been around for 2 years
Team of five: a social media person, 3 agents and John herself, the president and CEO
Target group is millennials and first-time home buyer: 18-40yo
Average client age is 28yo
Client breakdown: 20% college students; 60% young professionals; 20% other (eg. retired, empty nesters)
80-20 rental-buy ratio in 2016
International buyers: 0
International renters: 8 (2016)
Busiest months: June through September, with early September being the busiest. In Aug-Sept 2017, dealt with 200+ move-ins compared with Jan-Feb where she had 15.
Standard commission for a sale: 5%, split between the buyer and seller agencies.
Vibe agents get 60% of their share, and the remaining 40% goes to the company.
Estimates for property prices and rentals:
According to John: In Back Bay, 550,000 on average for a small 1 BR that needs renovating; 750,000 for 1BR that is move-in ready, 2BR is 1 million and upwards. For Greater Boston Area, median of $600,000 for a home.