Poconos COMPETITIVE ANALYSIS AND STRATEGIES
POCONO REAL ESTATE, POCONO MARKET UPDATE, POCONO STATISTICS, HOMES FOR SALE, EAST STROUDSBURG, STROUDSBURG, POCONO REALTORS, POCONO BROKERS
In years past Monroe County was considered one of the fastest growing counties in the Commonwealth of PA due to the influx of residents from bordering New Jersey and New York. This has drastically changed with the loss of employment for single and dual income homes, increase in gas prices and the overall economic decline being experienced throughout the northeast region.
The increase in actual mortgage defaults, as well as anticipated new mortgage defaults, has created an opportunity for real estate professionals with foreclosure and short sale experience.
While many news media providers have been portraying a “bleak” outlook for the real estate market, the focus for RE/MAX Crossroads has been that of exploring and taking advantage of the endless opportunities available to first time home buyers, relocate-es and investors on the buying side, and “Positive Options” for home sellers currently facing a legitimate hardship.
New construction has come to a virtual standstill. The issuance of new home permits has fallen by 95% since 2007.
The difficult facts are as follows:
o The number of homes sold has decreased 8.9% from 2008 to 2009o The average home price has declined on average 21.4% from Dec. 2007 to today.
The encouraging facts are as follows:
o Our primary competitors from 2005 experienced devastating losses. The “Top Heavy” corporate entities have all but “evaporated into thin air”:o The number of REALTORS practicing in the Pocono Mountain Association of Realtors (PMAR) has decreased a WHOPPING 33% over the past 4 years with an anticipated decline of an additional 10-12% by Feb 2010.o The average sold price has decrease only 12.2% in 2009 with many areas actually experiencing a stabilization and slight improvement
The “Who Moved My Cheese” strategy has been the success of RE/MAX Crossroads. Having multiple contingency plans in place BEFORE they were needed was and still is an effective way to remain solvent.
To remain a viable and productive Company in the local market, we have:
1. Renegotiated every single contractual and service related expense, from E&O insurance, to rent, to banking fees, while increasing our support and service to our Associates.
2. Maintained a strong presence in all advertising mediums and increased our exposure while the other brokerage companies have stopped marketing all together
3. Un-invited non-productive associates, while encouraging others to join our successful team.
4. We retain an “OPTIMISTIC & OPPORTUNISTIC” attitude throughout the office on a daily basis.
5. We educate ourselves and our clients with the latest up-to-the-minute lending options and market conditions, and do so in a positive manner.
6. We have developed strong long lasting relationships with Asset Mangers and banks to assist in the disposal of foreclosed properties.
7. We are the markets’ leading ‘Short Sale’ Broker and have mastered the process.
RE/MAX Crossroads is currently working with lenders such as Bank of America, Wells Fargo and other local Banks, to counsel and assist struggling homeowners in selling their homes using a ‘short sale’ option in an effort to avoid foreclosure. We feel this service is critical to the future of our market. Short Sales are very viable options for lenders and homeowners. The process strongly influences housing values. It also nets a much higher dollar amount to the lender and/or investor by decreasing legal fees, decreasing time on the market and decreasing loss of value to the assets caused by vacancy and vandalism.
While the average PMAR statistics show 12% of a brokers’ available inventory (listings) as “Under Contract” RE/MAX Crossroads boasts an impressive 19%! Additionally, the number of buyer sides controlled by RE/MAX Crossroads is significantly higher on average based upon the number of Associates. On average, a PMAR Agent currently has ½ buyer side pending. RE/MAX Crossroads Agents have an average of 2 buyers and 2 sellers pending at this time.
While the competition is reporting a decline in gross revenues for 2009, RE/MAX Crossroads is confident that our gross revenue will be at a company high for 2009.
We attribute this to our leading edge business planning, our astute awareness of the changing market conditions, and our ability to successfully adapt our business strategies to ensure a competitive advantage.
POCONO REAL ESTATE, POCONO MARKET UPDATE, POCONO STATISTICS, HOMES FOR SALE, EAST STROUDSBURG, STROUDSBURG, POCONO REALTORS, POCONO BROKERS
Our client satisfaction has been evidenced by the high number of personal and corporate referrals we have received. We believe in and practice our profession based upon the notion that successful people always deliver on what they promise....& then some. They can be counted on in every situation....& then some. We pride ourselves on going that extra step to provide our customers and clients with what they need and consistently exceed their expectations. We put the best interest of our customers and clients before our own. We are problem solvers, innovative thinkers and sincere in every effort we make to assist a customer or client through the process.
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