New Ebby Halliday CEO Sees More Balanced DFW Market

Chris Kelly is keenly aware that the company he now leads carries the name of a legend. He hears stories all the time about Ebby Halliday.

"Every single person I meet has got one story, if not two. But they're all great," Kelly said.

Kelly is only Ebby Halliday's third CEO. There was Ebby herself, who died in 2015 at the age of 104. Then came Ebby's hand-picked successor, Mary Frances Burleson, who remains with the company.

"She is a tough act to follow in a very good way, and she has been great," Kelly said of Burleson.

Ebby Halliday is now part of HomeServices of America. That's a division of Berkshire Hathaway, which is owned by none other than billionaire investor Warren Buffett.

"He is all in on real estate, which gives us a lot of comfort and strength as we move forward as well," Kelly said.

Buffett's backing is a good thing as the landscape of the real estate industry shifts. Recent headlines and numbers tell a story of slowing home sales in Dallas-Fort Worth. It is no longer a red-hot buyer's market.

"I think we're getting closer to being balanced, which is what we want," Kelly said.

Kelly said he does not expect a market bust in Dallas-Fort Worth for two big reasons: continuing job growth and a new generation of home buyers.

"This past year, the largest percentage of new home buyers were millennials, he said."

He also said he expects interest rates will stay relatively low, keeping mortgage payments manageable.

"Anything hovering in around that 5 percent range is probably what we should expect," Kelly said.

But he knows one thing will only increase: competition. New players are using technology to offer new ways of doing business, and they're luring buyers and sellers with lower fees.

"There is always going to be someone who is willing to do it cheaper," Kelly acknowledged.

Kelly said Ebby Halliday, along with sister brands Dave Perry-Miller and Williams Trew, can still thrive by staying focused on customer service.

"It kind of brings into play a quote from Warren Buffett that I really like, which is, 'Price is what you pay, value is what you get.'"

Words of business wisdom that could have come from Ebby Halliday herself.