Mary Anne Hashem is the director of builder services for Prudential Network Realty, which is marketing The Shipyards.
WHAT DOES SHE DO?
“I oversee all of the new projects for Prudential. Builder services is a new department. With the condominium market hitting the area so strongly, the company has been managing communities. Linda Sherrer [founder, president and CEO of Prudential Network Realty] decided it was time to recruit someone in new homes management who knew the drill — things like reports, sales meetings, motivation and coaching.”
WHAT PROJECTS DOES SHE HANDLE?
“In the established communities, they are already taking reservations and going to contract. Some of them are in the very early stage to the end stage of construction and starting to have closing where the final buyers are moving in. I also want to help grow the business, so Linda and I have been working diligently meeting with developers, doing feasibility studies and looking at land to find pieces to hook them up with builders. We’re looking very strongly at apartments with developers for conversion.”
THE SWEET SPOT
“The first-time buyer market would be single family homes. In the last quarter, the homes that sold the most are from $150,000-200,000. That’s the way it always is. Now, with interest rates so low, buyers can qualify for more. Currently, we’re marketing the upper end. We want to diversify our portfolio to that sweet spot of first-time buyers.”
THE EARLY YEARS
During her 20s, Hashem was employed as a dental hygienist. After her brother-in-law pushed her into taking a real estate class, she was hooked. She began as a general real estate broker for him at Century 21 in the mid-1980s, then left to work briefly for Prudential, soliciting new business as a corporate caller. In the early 1990s, she was recruited by Queen’s Harbour Yacht & Country Club.
LEARNING THE ROPES
“That [Queen’s Harbour] was where I probably gained most of my experience with new homes. I really got my feet wet learning blueprints, learning land, reading surveys, learning what boaters like, the draw and depth of a marina.” Previous to her current position, Hashem worked as the sales director for Panitz Homes.
WHY STAY WITH REAL ESTATE?
“Every time I changed positions in the field, it was to do something different. With the interaction and negotiations, it’s a very challenging career and profession.”
HOW IS GENERAL REAL ESTATE DIFFERENT FROM WHAT SHE DOES NOW?
“We have a fiduciary relationship with the developer. Our agents aren’t doing any other business. I meet with the sales team, gather reports and act as a middleman between the developer and the sales team.”
WHY GO BACK TO PRUDENTIAL?
“Surround yourself with ethical, honest people, do the deal and everybody wins, hopefully. That’s what drew me back. Plus, working for a national home builder gives you a great wealth of knowledge about understanding quotas, budgets and absorption rates.”
WHAT IS MEANT BY ABSORPTION RATE?
“How many you sell in a given time. Usually we go by monthly absorption rates. The national theory says that for every 30 people that walk through the door, you absorb one into a sale. That’s one way of calculating it. The study could be based on what the land is going to cost you or on how long you have to carry the land. So, if you are looking at that sweet spot and if you position yourself well — you get the pricing right and the floor plans right — you can get that first time buyer and your absorption rate will be higher than on a million dollar home. Percentage-wise, there are so many more families that can afford $200,000 homes as opposed to folks that can afford million dollar homes.”
HER CURRENT CLIENTS?
The Shipyards, Ortega River Club, Marina San Pablo, Marbella and The Legends of World Golf Village.
HOW IS SHE INVOLVED IN DOWNTOWN HAPPENINGS?
“The sales team [for One Shipyard Place] is very dedicated to everything that is occurring downtown. We try to belong to — and attend — as many activities as we can. We made sure we showed support for the opening of the museum [Jacksonville Museum of Modern Art] and participated in the Hard Hat Tour. I will be doing a presentation at the Chamber next month to bring them up to speed on One Shipyard Place. The good thing about The Shipyards is our people can retire there because it’s a 10-year project.”
ON THE PERSONAL SIDE
Hashem resides in San Marco with her husband Harold. She has two children in their early 20s, Anne-Marie and Anthony. Gardening, shopping and watching old movies are her favorite pastimes. Hashem loves good Mexican food and lists New York as her top getaway spot.
— by Monica Chamness