Agents & Employees,
Welcome to the second issue of The Rubloff Review, the quarterly newsletter from Rubloff Residential Properties.
Despite continued market softness, Rubloff continued to do better than the market, with our sales volume down only slightly from last year’s record performance. Luckily, Chicago continues to maintain its ranking as a stronger market than most other areas in the country. In general, the Midwest markets have been less volatile than most of the nation, especially the west coast and Florida. At our recent all-company meeting, Diane Swonk, Senior Managing Director & Chief Economist for Mesirow Financial, predicted a likely turn-around by the summer of 2008, but did warn of some painful economic times between now and next summer.
Swonk also indicated that, even though we are experiencing a market correction, there is no reason to panic; this is a normal business cycle and it will be good for the long-term health of the real estate community (of course, it may be difficult to convince our clients!)
Remember that a soft market increases the need for good real estate agents. It is now more important than ever for buyers and sellers to work with a professional. Although these times may be stressful, most experienced agents continue to do well in a slow market. Many Rubloff agents have actually seen an increase in their business over 2006!
In response to these market pressures, Rubloff is constantly improving our office and marketing support in order to make our agents more successful. Our web site continues to be a top priority and we are striving to stay ahead of the competition in marketing technology.
Rubloff is increasing its share of the market for development projects. Over the summer we saw an increase in interest from developers in having Rubloff represent them for both existing and new projects. The combination of a strong, experienced sales agent base and complete marketing support is an attractive combination for developers and we will continue to build these relationships.
Hopefully, you all had fun at the summer beach party and we look forward to another great holiday party in December. We hope that the remaining weeks of the year are prosperous for us all.
Howard and Tom