RISMedia’s announced its 20th Annual Power Broker Survey.
Interestingly, the total number of transactions down from 2,754,618 in 2006 to 2,322,210 in 2007. On average, real estate firms did over 1,100 less transactions in 2007 compared to 2006. Total sales volume in 2007 was down more than $100 billion, from $855,755,959,352 in ‘06 to $749,201,552,294 in ‘07.
This is trite but sometimes the truth is elusively obvious. Real Estate is local and as such markets behave uniquely in each marketplace. However, good business and marketing is universal.
“For more than two decades, we’ve budgeted on the expectation of 5 percent less in income and 5 percent more in costs,” explains Ed Krafchow, president of Prudential California
-Brenda Shipplett, President & COO, Long & Foster CompaniesI looked for opportunities I might not have pursued in better times, and that’s worked out well for us.”
Many successful companies are concentrating on the upper end of the market and internationally.
The changes are stark year over year, comparing 2006 to 2007.
Sales Volume 2006: $855,755,959,352 2007: $749,201,552,294
Average Sales Volume per Company 2006:$1,178,727,217 2007: $843,695,442
Transaction Sides 2006:2,754,618 2007: 2,322,210
Average Transactions per Company 2006: 3,794 2007: 2,615