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Douglas Elliman Doing More Rentals! Can YOU Adapt to a Shifting Market?
Prudential Douglas Elliman is opening a new office specifically for rentals.  The company is going to be recruiting 50 to 75 new agents whose sole focus will be the rental market. 
A website specifically designed for rentals, will be released as this new office opens.  Jonathan Miller, president of real estate appraisal firm Miller Samuel, who prepares the company's sales reports, will also be generating a new rental market report.  As I have mentioned in a previous posting, the rental market has become more advantageous for the renter in the 2008 market. 
When the sales market slowed down this summer, many buyers became renters.  There was an opportunity to be made and it looks like Douglas Elliman is going where the business it at. 
Over the last year I have seen a shift in the focus of rentals versus sales business.  Many agents would refer out their rental customer's to agents who specialized in the rental market.  Now as the sales market has shifted I see firsthand many of these bigger agents now working these leads that they once would have happily given to somebody else. 
The rental market in Manhattan is a tough business for agents.  One of the hardest ... more

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