Realogy Down 132 Million For First Quarter
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Realogy hit a rough patch this quarter losing 132 million dollars. Not a surprise for the largest real estate company in the United States.
The method of saturating markets with different branded real estate offices is a great strategy in a climbing market. You are able to segment buyers while providing a dominant footprint on homes sold.
However, when the market turns upside down you then are carrying additional costs in overhead that can not be recouped. That is where Realogy is until the market turns around.
The company in March announced plans to cut costs through office consolidations and other actions in response to the reeling real estate market. After consolidating about 67 company-owned brokerage offices in 2007, Realogy said it was consolidating or reducing the size of an additional 70 company-owned office locations during the first two quarters of 2008.
Year-over-year home-sale transaction sides declined by 25 percent at the Realogy Franchise Group and by 27 percent at NRT, the company’s brokerage unit, during the three months ended March 31, 2008, compared to the same period a year ago. via Inman News.
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
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By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
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