Otero Signature Homes has big plans for the future of luxury living
Founded by Ted Otero in 2004, Otero Signature Homes celebrates its 20th anniversary this year. Over this time the company has grown into a group that offers complete turn-key solutions to luxury remodeling and builds. With in-house architects and designers, real estate agents, long-term contractor relationships, and an interior design company spearheaded by Ted’s wife Kelly, the business is going from strength to strength.
Beginning with the intention to build homes in the $500,000 – $700,000 range, Ted explains: “We very quickly grew to $1.5m, to $2.5m, then to $3.5m and $5m custom homes. Although we didn’t know it at the time, we were really building a customer service company, which happens to focus on residential construction.
“We’ve grown to build custom high-end homes and remodels, plus we own Ovation interior design, and I’m a licensed real estate agent to help clients buy and sell property. We also have a commercial arm called Otero Enterprises, and we’re expanding.
“We’ve really focused on complementary products to provide a complete service. We can help by acquiring land, contracting on the land, designing the home, building the home, then outfitting the home with everything from furniture to rugs and art. Then in five to ten years if the client is ready to move on, who better to sell it for them than us.”
This approach is what makes Otero stand out in a busy marketplace. In a traditional private build, contractors are compartmentalized and can have conflicting interests at times, as they all try to demonstrate their value to the project. Ted explains: “For example, a client goes to a real estate agent who wants to sell them a house or piece of land, but they don’t know 100 percent what’s possible until they talk to the builder.”
So, by putting all these entities in the same room, working together towards the same goal, the process is significantly streamlined. It also helps perpetuate positive relationships not only between the company and clients but also between colleagues, so communication is open and collaborative. “Rather than these adversarial relationships where everyone is competing to prove their worth, we are all working together for one goal, embodying our motto of building better relationships every day,” Ted adds.
Customer focus
With a background in civil engineering and experience in commercial construction Ted knows his way around the practical side of the operation. He is also acutely aware of what clients can go through during this process and how to overcome the challenges that can become major stressors. “It’s funny,” he explains, “before every project I still get some butterflies. Even if it’s a small renovation I know what’s at stake. We know what the client is going through, we might be moving them out of their house or ripping up their kitchen.” Designing a wraparound process that streamlines every stage of development has been central to Otero’s success.
It’s not surprising, given this client-centered approach, that many of Otero Signature Homes’ clients are referrals. Ted even recalls a meeting with a client who had been referred by clients whose home was built 15 years ago! Independent, third-party satisfaction surveys score the team at Otero Signature Homes at 4.9 out of five, with exceptional ratings in every category.
As well as providing the ultimate customer care, Otero Signature Homes must ensure that its products are exceptional. Ted gives an example of its cutting-edge design trends: “We built a contemporary farmhouse in Cleveland, with a unique flowing floorplan. Most of the exteriors in the region are browns or stone finishes, but for this project, Kelly came up with a design featuring black windows, white board and batten siding.” The property was a showpiece that drew 17,000 people through its doors in 17 days during an industry event and has since risen in value by around $1m.
Keeping at the forefront of trends goes beyond design though, with the latest sustainable technology and engineering solutions being integral to projects from the company’s inception. These are practices they embedded before they became industry standards around 2008 – 2009. Now, projects can incorporate technologies including geothermal heating and cooling systems, tankless water heaters with circulator pumps, and high-density insulation.
Bold ambitions
Culture has also been an important driver of the organization’s success. Fostering a culture based on the pillars of professionalism, thoughtfulness, and accountability not only reinforces the communication and trust that leads to healthy working relationships but also helps motivate the teams even in moments of stress and pressure. “As well as being professional, thoughtful, and accountable we want a fun environment,” Ted explains, “we work hard and play hard – for example, we did a kayak trip recently. These rewards mean that when we need to put our noses to the grindstone everyone is onboard.”
Motivation will be a useful resource in the years to come given the company’s bold ambitions. Looking to utilize venture capital the business will undertake larger types of developments. It will seek greater involvement in commercial tenant fit-outs, aiming to develop underutilized buildings into spaces that serve the community around them. It will also endeavor to curate communities via greater involvement in organizing residential subdivisions. “We also,” Ted adds, “want to have a greater standing from the development side of commercial property through the operation and management of properties owned by us.”
As Ted puts it, “it’s been a wonderful ride for 20 years,” over which time the company has experienced major success as it builds dream homes for clients. With bold ambitions still on the agenda, it’s not surprising Ted is looking forward to the next two decades, and MHB is keen to see what the company can achieve in this time.