Last night on the NBC Nightly News, they profiled a United Country office that had abandoned ship and turned into a flower shop. The former agent's mindset was that her phone wasn't ringing and so she'd rather sell flowers. Next they profiled how enrollment in real estate schools are down in Florida and Georgia and how association membership of one board in Oregon has dropped since last year. That's it.
That's a story?
I think that the real story is the growth of others in the real estate business in spite of the media and the downturn of the market. Since last year, over 20,000 REALTORS left the business. Some left because of retirement but I would wager that others were in it just to make a quick buck. Our company, Keller Williams Realty, has grown by 2,400. That's a 6.87% increase.
In our recent company magazine Outfront, the Operating Principal Emerick Peace and the team leader Pamela from Upper Marlboro MD were featured. Upper Marlboro is in Prince Georges County, just outside of Washington DC. They experienced the highest of highs for the years prior and hit the lowest of lows. I know personally since I was selling in that market up until 2006. Now that things are balancing out, their office stands with more than 250 productive agents. Instead of abandoning ship and turning their office over by the former Capitol Center into a flower shop, they put all their agents who had not completed more than 4 transactions in the last year into a 12 week course called "No Agent Left Behind." The goal was to ensure that those committed to stay in the business would be able to grow their market share in the times where folks are abandoning ship.
There are great success stories like this all the time of companies growing in the midst of the naysayers. I think its phenominal and that's the story. Quitters Quit…that's no suprise. I've always held the belief that the guys who rushed in to the business around 2002 came in from the ruins they left in the Tech Industry. They decided to unleash their destruction on our industries with high pressure high risk mortgage brokers, discount internet real estate firms, websites trying to take the place of the REALTOR, etc. Where are they today?
Some of our competitors in the market place decided to gobble them up to discet what made them mildly successful. Others just went belly up with little fanfair like Foxtons, returning across the pond from whence they came. What's left are smarter, highly productive, highly customer-focued REALTORS, Mortgage, and Attorneys sweeping up the mess the "get rich quick" crowd has left behind.
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