Pure Properties Launches Today, Seeks to Do it All
Dixon Leasing, the biggest real estate investment trust in the New York metropolitan area, is partnering with a top local broker to launch Pure Properties, a subsidiary venture they hope will provide “one stop shopping” to assist folks in purchasing, designing, renovating, marketing and selling their properties all under one roof.
The company, which officially opens its doors today, seeks to challenge the status quo of the industry. Devised by Alan Dixon and David Orr of Dixon Leasing, the duo brought on Patrick Southern for the project, who is formerly of Liberty Realty and has been Hudson County’s top-producing broker for the past eight years. Pure Properties COO David Orr says that traditional practices in the real estate business need to be brought into the 21st century.
“The fact that there are over 27,000 agents in the New York area and only about 12,000 transactions were completed last year clearly exposes that there is a major problem in the industry,” Orr says. “When speaking to brokers about why the model hasn’t changed for decades, the response we have received is often ‘that’s how it’s always been done.’ That doesn’t sit well with us.”
Pure Properties stated goal is to “integrate years of cumulative industry knowledge and expertise while bringing together previously disassociated facets of the real estate industry.” They will not only provide more traditional services to customers like sales, but they will also offer premium architecture, interior design and construction services to clients in a seamless fashion.
The company says they have experts ready to help clients build their dream homes regardless of scope, budget, or goals. Dixon indeed has a wealth of experience in renovating properties, which they’ve gained from many renovations they’ve completed across all types of budgets.
“Being the largest owner of 1-4 family homes in Hudson County, [Dixon] has a very unique visibility on the real estate market here,” Orr says. “We have literally been inside and evaluated 5,000 homes, we’ve purchased over 600 homes and we’ve completed over 700 construction and renovation projects to date.”
Pure Properties is also marketing itself to builders and investors, albeit in a slightly different role. They can help those clients with everything from finance models for lending to technology services that range from branding and website creation to advanced lead generation techniques.
Orr says that the company has already completed a market analysis for a developer planning two apartment complexes in Bayonne and is the exclusive listing agent for the Element Flats development on Jersey Avenue.
Pure Properties Sales Associate Patrick Southern also thinks there’s a market for homeowners who want guidance through what can be a daunting planning and approval process. “We recently met with an investor who owns a three-family house and adjoining parcel of land [in Jersey City] that we were able to talk through zoning issues and approval strategy with,” he says, adding that the client was excited to work directly with one group for the whole process.
“There is a huge advantage of having someone in your corner that you can trust and who has been through the process hundreds of times,” Orr says. “What we’ve found is there are some great people who can help you in any one of the specialty areas involved, but there’s no one that can assist you with it all. Talking with our tenants who lease our properties, our clients looking to buy homes, and our friends looking to renovate, we saw there was a massive need for a service like this.”