Oklahoma draws interest from out-of-state investors

President of Oklahoma Association of Realtors uses multimedia to spark interest in state
BY TIM FALL trfall@gmail.com Published: February 23, 2013
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His goal is to show “in black and white” how to make real estate part of an investment portfolio and how to keep risk to a minimum “if you do it right.”

“I'm like anybody else, I hate to be embarrassed,” Pryor said. “I want my investor clients to be able to sell it later.”

Pryor started sharing his Oklahoma real estate expertise a decade ago by launching a website. In 2004, he was contacted by a San Francisco-based investor who wanted to know more about the state's economic fundamentals and the values to be found here.

“I flew to San Francisco” to speak to investors there, Pryor said, and “I showed Oklahoma City to them.”

Out-of-state investors were sold on Oklahoma's low unemployment, and the quality of single-family homes available as investments.

Also, “They couldn't believe traffic was so easy,” he said.

Pryor's Web presence — a YouTube channel, blog and SEO (search engine optimization) strategies — continued capturing out-of-state interest even through the recession and housing slump.

For investors from the West Coast, London, Tel Aviv and elsewhere, it's Oklahoma's economic fundamentals that have kept interest alive, he said.

“Investors look for opportunity, especially in a volatile market,” he explained.

As president of the Oklahoma Association of Realtors, Pryor said he is proud to have “a seat at the table for change.”

With well over 100 bills before the state Legislature that bear on the real estate business, Pryor said legislative advocacy is a major focus. Another is “to change the way we educate Realtors” through online initiatives the association plans to roll out in 2013 and beyond.

Pryor surveyed the real estate landscape for the rest of 2013 confident in continued recovery, although work remains to be done.

“In the past three years I've done lots of short sales,” he said, and they're not worked through the market yet, Pryor said.