A good way to start a new year of doing business is to look back on the previous 12 months, assess the achievements as well as the things one wished had gone better, and then turn around and begin moving forward without looking back again. Realtors who are a part of Coldwell Banker Pryor Realty in Chattanooga and Dayton, Tenn., did just that on February 21 as its owners, Bill and Peggy Pryor, hosted the company’s annual Awards & Recognition program at Niko’s Southside Grill.
Elizabeth Guard, regional executive consultant of Realogy, the parent company of Coldwell Banker, traveled to Chattanooga from Charlotte, N.C., to participate.
The event began with Mr. Pryor expressing his and his wife’s gratitude for the pleasure of working with their agents throughout the last year. Following the invocation and a song, guests enjoyed a buffet lunch. Then the awards ceremony, which honored the company’s top performers in 2011, began.
Ann Martin, vice president of sales and managing broker at Pryor Realty’s Chattanooga office, opened the awards program with a rundown of how the Chattanooga office ranks against other companies in the city. According to her remarks, out of 182 offices on the MLS, her’s is ranked seventh by size and sixth by volume. In addition, out of 162 companies in the Chattanooga area, her’s is ranked fifth by size and sixth by volume. Statewide, her office ranks number four out of 20 Coldwell Banker companies. “That’s good for an office with less than 30 agents, so congratulations,” she told her agents.
Mr. Pryor said his office has consistently ranked number one or two in Dayton, and that he’s “looking to grow and be number one all the time.”
A list of the awards and the agents who received them is printed on page number 14.
Following the award ceremony, Guard gave a presentation about the current state of the housing market and what Realogy expects to see in the year to come.
“Whether you’re at a cocktail party or a ball game, I’m sure people are constantly asking you when the real estate market is going to get better. Fortunately, we’re seeing economic changes in the U.S. that will result in an improved housing industry,” she said.
Guard identified six trends she said suggests the U.S. economy is improving: consumer spending has increased over each of the last five quarters; U.S. manufacturing profits are up 26 percent; corporations have had strong earnings; cash on books is up 60 percent; the economy has seen nine consecutive quarters of growth; and the Dow Jones Industrial Average climbed 6 percent in 2011.
Guard then quoted Paul Dales, an economist with Capital Economics, who has said, “There’s no denying that home sales are still very low. But after having risen in each of the last three months, it’s clear a housing recovery is well under way.”
“The gurus believe we’ve bottomed out and the housing market is coming back,” Guard said. “Are we ever going to see a market like the one we had in 2004, 2005 and 2006? Probably not, as people were taking out loans they had no way of paying back. We’re back in a real estate market more like the one in which I started 35 years ago. Back then, you got out there, shook trees and made something happen.”
Guard then quoted Freddie Mac chief economist Frank Nothaft, who has said, “With the new year comes a sense of cautious optimism. There are positive signs in the job market and consumer confidence, and housing is starting to raise hopes for (a) ... gradual economic recovery.”
“People are starting to buy houses. And you guys are a wonderful testament to that. If it’s standing still in Chattanooga, you’re selling it,” Guard said.
Guard then quoted a Fannie Mae survey that says 71 percent of people in the U.S. say this is a good time to buy a house, as interest rates are low and homes are affordable.
“When I bought my first house in 1971, the interest rate was 7 percent, and we thought that was great. We’re well below that now,” Guard said.
Finally, Guard presented the National Association of Realtor’s 2012 U.S. housing forecast. The national organization is expecting sales to increase 5.1 percent and home prices to inch up 1.8 percent. “You’re not going to see a big jump in sales, but you’re going to see an increase,” Guard said.
Guard provided a segue to the final portion of the event by showing a slide of how the Coldwell Banker training program ranks against other companies nationally. According to Training Magazine, the real estate company ranks ninth, three slots below McDonald’s. Only one other real estate company ranked in the top 100 – at No. 73.
Mrs. Pryor then presented Martin with a plaque recognizing her efforts to train her agents.
“Knowledge is power. Without knowledge, you don’t have power. And I attribute the power you have to do the great things you have done throughout the years to the consistently high level of education in our company. Coldwell Banker constantly feeds us knowledge, information and tools. And we can see the results.
“In order for that to happen, you need to have someone feeding you that information every day. And Ann is a top-of-the-line trainer and coach. She eats and breathes education. We owe a lot to her,” Mrs. Pryor said.
As Mrs. Pryor brought the meeting to a close, she paraphrased Realogy president and chief executive officer Richard Smith, who during a recent interview on Fox News urged viewers to set their eyes on the year ahead.
“Last year is over. We’ve had our glory, and we had a great year, in spite of all of the challenges, hardships and failures we experienced. But right here, right now, we must stop looking in the rearview mirror, because there’s no need to look back. We must begin to focus on today, and tomorrow, and the year to come, and know that this year is going to be even better than last year.”