Everyone immediately knows Aspen around the world and Johnny discusses the area with one of the most respected names in Colorado Real Estate, but also within the entire industry, Krista Klees, President of Slifer, Smith & Frampton. They discuss Krista’s journey to Colorado, her Real Estate career, The Aspen culture, and the current market.
Transcript
Stephanie's insight and wisdom into the world of real estate was the perfect way to launch our series, which is about success in real. My next guest for today, one of my dearest friends, and one of my closest confidants is the president of Lyer Smith and Frampton Real Estate in Aspen, Colorado. Krista, please, please, everyone help me welcoming Krista.
Good morning Krista.
Krista Klees: Good morning Johnny. Thank you so much for having me. I'm honored to be
l estate, especially here in [:Oh, I
Krista Klees: wish it was only 30. John . But, um, closer. I think we're, uh, we're approaching 36 this year.
Johnny Pfeiffer: Wow, that's incredible. So you've seen a lot of changes in the Roaring Fork Valley over that
Krista Klees: time. Yes, it's been, it's been a fascinating and a really fun, interesting
Johnny Pfeiffer: journey for sure. I bet it has. And, and everyone just, you know, Krista began her real estate career at the age of five, and so that's how she has been there for 36 years.
I began mine, even younger. So we're not dating ourselves, right, Krista? Correct. Okay. . So what a fascinating market that. function in and work in. I mean, that is one of the most well known five letter words in the world. I don't know if I've ever gone anywhere worldwide and used the name Aspen, and everyone immediately knows where that is.
I just got back from [:How did you end up there? Where are you from originally? I believe we're from the same hometown. Are we not? You
Krista Klees: know that? Yes. Um, well, and first of all, again, thank you so much for the very kind. Introduction. You know, I adore you and I love being here with
Johnny Pfeiffer: you. Well, thank you. And I just, and everyone, just so our listeners know, Kristen and I have been friends for a long time.
Uh, we have worked together for years, uh, and we are also truly from the same hometown. So Kris, I would love for you just to share how your journey from Kansas City brought you to Aspen, how you ended up in. .
ou know, just ski for a full [:a small boutique firm in, uh,:alled Palladium Properties in:That precipitated me merging palladium properties with Slyer Smith and Frampton in 20.
Johnny Pfeiffer: and that was an amazing journey together, y'all. I was so blessed to have been introduced to Krista by Stephanie, as Krista said, at a luxury portfolio event. And that evening changed everything for me. Krista and I became fast friends and immediately knew we wanted to work together.
ting market, and it has just [:And what I would love you to tell our listeners about is what makes that valley so desirable with all of the incredible real estate opportunities across the world. Everyone wants to go to the Roaring Fork Valley, specifically Aspen and Snowmass. Why is that? What, what is the draw?
Krista Klees: Aspen provides, along with the beautiful mountains and the ski resort town. In addition to that, we have a full. Cultural community here that focuses on the arts and the think tanks, and it's just become this sort of iconic place.
originally morphed into, it [:Johnny Pfeiffer: Well, and I bet a lot of people who are listening to this podcast right now are pausing because Kris, I think most of us, like you and I are from the Midwest, but people everywhere. When you think of Colorado and specifically Aspen, all you think about is scheme. What I think is so poignant about what you just shared with all of us is Aspen in your valley is about a lot more than.
nd skiing. You don't have to [:Krista Klees: That is correct. And you know, historically, a lot of us. As you pointed out, Johnny arrived here due to the skiing, but then spring rolls around, summer comes and the weather is so phenomenal, and the other activities that the location provides, whether you're on a river or you're riding mountain bikes or street bikes, or you're a hiker or you're into food, we have the food and wine festivals been here, or you're a classical.
eople in addition to the ski [:Johnny Pfeiffer: Absolutely. I couldn't agree more. And I think it's exciting for people as they get to that valley and start discovering it and realizing what the opportunities are. And now I have one little side note I have to go into, and I know you're gonna laugh when I do because you know me too well. I am a freak about pop culture.
We know I love My Real Housewives and my million dollar listing shows. Have you seen any celebrities? And if you, if you have, are you allowed to say,
Krista Klees: you know, that's another. Very beautiful thing about Aspen. Um, it's changed a little bit over the years, uh, because we have more paparazzi and, and such that have also discovered that people come to spend time here, whether it's the holidays or throughout the summer seasons, It's, it's pretty low key.
m when they're here. Um, but [:Johnny Pfeiffer: nice.
So our listeners, y'all, I have to tell you, she answered that perfectly. And as every Aspen local would, they do not get caught up in the fanfare and the Hollywood glam. They are there to escape and the locals respect that and give them that. Space. I fortunately am not a local in Aspen. I am in Denver, and so I could be one of those running around chasing them, but I won't because Krista would be very upset with me.
But, So Krista, of all your favorite spots, that potentially there could be a celebrity siding if someone leans in my direction towards pop culture. What's a couple of your favorite go-to spots for drinks or dinner? Either super nice or super.
depending if, if you're just [:It has a magnificent patio that you can sit at and it's right at Gondola Plaza. The lobby at the Little Nell is wonderful for cocktails. They have a phenomenal cob salad, which is one of my favorites. I love the hotel Jerome, as well as the J bar. Off the beaten path a little bit. Well, it's on, actually, we have a, a street here, as you might re recall, Johnny, That's called Restaurant Row.
One of my favorites along there is meat and cheese. It's a favorite local, local spot.
Johnny Pfeiffer: Well, in what I think is so amazing, Krista, is y'all, she could sit here and go on for a half an. Of some of her favorite spots to eat. Uh, the French Bistro is one of my favorite. Uh, absolutely love it. Fantastic for fondue.
here many times. Spectacular [:I believe everything you've shared is why we see price points unrivaled in much of the world. And so, do you have a second just to share kind of general price ranges and price per square foot and where you're seeing the Aspen market perform over the last couple of. ,
across the country, you know,:ot, incredible transactions, [:Typically, if you can't spread out, they have the ability to go up. and for a very long time, Aspen has had a restriction on, you know, the tallest building that you can have is, is three stories, and that is now under a moratorium as well. So if you were renovating a building or a hotel or anything in the, what we call the downtown core of Aspen, you can no longer even build a three story building.
ely low and there is only so [:So that continually drives our prices up, right, because. , there's only so much land available and once that land is developed, there's really no place else to go, which has really strengthened and also expanded our marketplace into what we refer to as the entire Roaring Fork Valley, because once people become completely priced out of Aspen, they start spreading out a little bit further into other communities as you.
d then in the summer you can [:Johnny Pfeiffer: Well, and one thing I'd love our listeners to know who are interested, which will help segue into our next question in a minute, is, as Kris pointed out, not everyone has a budget that will allow them to be an Aspen proper. However, you have a very diverse and very organic valley that has a host of different communities with their own souls and their own community and their own events, and there's opportunity to live in many places and still be near Aspen.
Krista Klees: That's correct. You know the Roaring Fork Valley spans over three counties and six municipalities between I 70 and
's not just Aspen. So Krista [:But one fun thing I'd love our listeners to know. Krista, you've seen sales north of 50 million in Aspen, haven't you? In the.
Krista Klees: Yes, correct. And uh, we're starting to see a lot more of those actually happen off market, which. Which is pretty fascinating.
Johnny Pfeiffer: Oh, and for our listeners, just so you know, off market means there's a buyer with a certain type of property they're looking for.
A seller owns that property. Those relationships are made outside of the mls and those are brokered between the agents, Chris's team and others, uh, off market. And so in Krista, some of those price points, are they what? North of 25? , Correct?
Krista Klees: Yes. 25 million. We, There was one that was recorded about a week ago that was at 69 million.
Johnny Pfeiffer: $69 million, 69
eve. It's incredible, right? [:Johnny Pfeiffer: Wow. That's a, that's a bargain. Krista . Yep. Right. And it's, but I think it's a testament to where Krista works and where her company is, is that it is such a desirable location.
It has so much to. and as she said, it's a finite resource. They're an island amongst a national forest, if you will. And so there's not limitless building going on. And so Krista, with that, do you believe now is still a great time to buy in the Roaring Fork Valley and do you see the future stable there for people who are looking?
t, that frenzy has subsided. [:I don't think it will, uh, continue to go up as dramatically as it has over, let's say, the past 18 months. Historically, Aspen has always been a safe place to invest your money and, and park it unless something goes completely, you know, is unusual. And it's an extreme emotional purchase where somebody pays a, a market price that's over and above and beyond.
steady, solid investment and [:Johnny Pfeiffer: and to tag onto what Krista just said, the beauty of it is, is Krista, I believe most of your buyers, you literally just said someone makes an emotional purchase, and you have had those historically that were regardless of value, the the value was limitless to them because, Priceless opportunity for them and their family and their lifestyle.
And so, and I think that's the key thing here. For most people who buy and live and experience the Roaring Fork Valley, it's way beyond the purchase of real estate. It's a, an entire lifestyle. And that value, you can't put a price tag on that, right?
Krista Klees: Correct. Correct. It's, it's, it's something they've, they've made the decision that they want to be in this marketplace.
They're going to. Either relocating or they're going to be spending time in this place as you shed, as you shared Johnny. And um, and it is truly for a lot of people, it's an emotional lifestyle decision.
Well, and with that, I would [:Thank you so much. Uh, what I would love for you to share with our listeners before we wrap up today is last week you, as you heard, listening to my interview with Stephanie is the powerful presence. Of women in real estate. It's such an incredible opportunity for everyone, regardless of who you are, uh, to get into this business cuz it will take you anywhere.
that has a reputation that's [:People just everyone wants to do business with. Krista, please tell us what advice you have for our listeners if they want to follow your journey and your path.
Krista Klees: Oh, I would say, well, number one, I think one of the reasons that I am still so passionate about this business and why I'm still in this business is I made a decision a long time ago.
O obviously we're in the business of selling houses, but for me it was more about really bringing people into this amazing community that. You know, stumbled into, I was familiar with Aspen, but never, if you had asked my younger self 35 years ago if I would still be living full time in the roaring Fort Valley and had built this career and, and sort of this life and this lifestyle, obviously I met my husband here.
, . To be able to share that [:has been really, I think, done in a thoughtful way and, um, it's been a, a, a really exciting, a, a true blessing to be part of that progress. So, getting into the business in general, I think you have to stay true to yourself and remember why you're getting into the business and really what this business boils down to.
mmunity that you are sharing [:Um, one of the things that I'm very proud that Slicer Smith and Frampton does is a great, uh, broker development program because it's not easy to get into this business if you don't have a mentor. You don't have somebody that you know can kind of show you the ropes and you are running your. Business, even though you're working for another company, you are needing to be a self-starter and you are running your own, your own personal business when you get into this, into this industry.
ensconced in that community [:Johnny Pfeiffer: Well, I think that's an amazing response, and I hope the main point everyone took away from what Krista just said was she never mentioned commission.
That's always an implied benefit to selling real estate. That's why we all work to pay our bills. However, it's about people. It's about relationships. It's about building a community together, and I think in her years in the business, Krista has accomplished that and. Krista, I would love for you to wrap up.
Tell us about why Sniper Smith and Frampton Aspen. Uh, everyone, I would just love for you to know Krista has a long history, as you know in the valley. Her husband Doug Cle, is an amazing man. I'm blessed to call him a friend as well. And they have two of the cutest yellow labs, Gus and Tater you've ever met in your entire life.
or buying real estate in the [:Krista Klees: Why Lyer? Well, thank you for giving me that opportunity.
Uh, Weis Slyer, It is the solely only independently owned company in the Roy Fork. Um, we live here. We work here. We are the community. Our ties run long. Uh, we just, the company itself just celebrated its 60th anniversary. Wow. Uh, for being in business in the state of Colorado, which is a, which is a huge.
nsolidations that we've seen [:Yep. But it's hard to do that if you're not living and involved and ensconced in those communities. Um, I, above and beyond that, the amazing broker support that is there. And as I mentioned that, that broker development and making certain that there is a certain standard of conducting business and educating the brokers, uh, I believe is a little bit different.
Johnny Pfeiffer: And I couldn't agree with Kris Moore. It's, I know Slayer, I'm one of its biggest fans always have been, and I think it's one of the few companies that I know truly can use the word family. And it's not a cliche. It is a team of people out there to help everyone else succeed, be it get the most for the listing for their seller, help the buyers find their dream home and or help their agents slash brokers.
I'm gonna say that [:And Krista, the website. If anyone wants to get in touch with you or has more questions for you, what is your. It
Krista Klees: is aspen real estate.com. I
Johnny Pfeiffer: think that's pretty easy to remember given, as I said in the beginning of the podcast. One of the most popular five letter words in the world. I think everybody in the world loves to hear about Aspen, Colorado.
r two on the Broker Insider, [:Krista Klees: Oh, thank you so much, Johnny, for having me. It's been a pleasure to be here and I'm so thrilled that you're
Johnny Pfeiffer: doing this. Well, thank you. And hey everyone, thank you again for joining us today for the Brokerage Insider. We loved seeing all those new subscribers over the last couple of weeks. And look forward to many more.
Please stay tuned for next week when we will be bringing you more exciting news from the real estate industry. Please listen to us everywhere. Are you able to listen to your podcasts and subscribe? And there are always posted on our tribu website@tribes.com, which we are one of the largest independent prop tech companies in real estate, and we are always here to support you, your business, and your goals.
Everyone have a great day.
