Thursday, February 18, 2010

Who is Really on Top???

Sometimes one hears so many varying views regarding the real estate market in Hampton Roads.  One common topic of discussion is what real estate firm is growing or just going along.

I realize this can be an important decision maker for a buyer or seller as either may really like the Realtor that they meet but wonder what type of support and training that is behind them.  I have heard it said that it is like buying a P.C. from Sony, Dell or Levano that you know has tech support that knows what it is doing versus having some small shop put together a computer together and you don't know if they will be around.

Recently, REIN(Real Estate Information Network) put out the final 2009 Settled Sales for Southside Hampton Roads.  Not surprisingly, Rose & Womble Realty(my company) finished #1 in Sales and Market Share....$62 million ahead of W.E. Wood(a strong competitor) even though they have 16 offices and R&W has 9 offices on the southside.   That was an addition $12million over our market in 2008!

Unfortunatly, Prudential Town(combintion of GSH and Prudential in 2009) lost 15.2% market share and $167 million of volume.  Long & Foster saw a 5% market slide; ReMax lost 12.4% market share and 18% in sales; Coldwell Banker suffered 21.7% sales decline!  A couple of the newer companies to the market with a presence elsewhere in the country, Keller Wiliams and Exit, didn't even make the top 10 companies but unfortunately not all their offices report the sales to REIN...don't know why???  

It is an unfortunate but true axiom of business the strong get stronger and it will always come from the competition.  Especially in markets that sales have declined from a recent high time.  And you don't have to be the brightest match in the box to know Hampton Roads has had a solid real estate market in 2008 and 2009 but wasn't up to the level of the 2002-2005 market.

I feel very fortunate to be aligned with a top flight company and to be near the top of their leader board.

God is Good!!!!
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