RE/MAX Above and Beyond has opened an office at 404 Broadway in downtown Lorain.
Justin Costanzo, director of operations for RE/MAX Above and Beyond, which has offices in Westlake, Middleburg Heights, Broadview Heights, Brecksville and Hudson, said the company sees potential in Lorain’s real estate scene.
“We believe that area is up and coming,” Costanzo said. “We wanted to be at the forefront of the rebuild of Lorain, and especially Broadway.”
Lorain has a high transaction rate and that the prices of homes are much less than other parts of the country, he said.
“This area is so affordable,” Costanzo said. “The cost of living hasn’t gotten out of control, and you can get a lot of bang for your buck in this area.”
The Above and Beyond office opened Nov. 1 with the official ribbon-cutting taking place Nov. 15.
Although Costanzo said he is excited about the future of the company in Lorain, there is a challenge opening during the winter when there is not a lot of foot traffic.
“We’re looking forward to the spring and summer, because we know there will be some new businesses opening and more traffic,” he said. “We’re building an office from scratch.
“We’re just letting people know we exist at this point.”
According to Costanzo, the Lorain office currently is focusing on hiring quality agents to fill out 10-12 positions.
RE/MAX Above and Beyond has hired three employees.
Costanzo said he has experience opening other types of businesses that need to take advantage of the first eight to 10 months to have success.
However, real estate works differently, he said.
“This is the opposite,” Costanzo said. “There is no honeymoon period, or if there is, it might be three or four years down the road after we get the office to where want it.
“It’s drastically different in real estate.”
The Lorain community has been helpful in getting the office set up, Costanzo said.
“We had a ton of people checking in and excited that we’re there and a part of the growth of Broadway,” he said. “It has been very family-like with the community, and especially, the business owners on the street.”
Costanzo said Jason Shaffer, who owns Magdalen’s Gallery + Espresso on Broadway, did all of the artwork for the RE/MAX office.
Lorain city government has been helpful in the process as well, Costanzo said.
“The leadership in the city is very, very encouraging,” he said. “We wouldn’t have done this if we didn’t believe that over the next three to five years, that this area is going to be amazing.”
