Welcome to the July 2014 Market Update with President Dan Kruse, and Founder and CEO Bill Kessler. This month's update will cover what is going on currently in the marketplace, a reflection on the first half of this year within the company, a prediction of what is to come, and some projects CENTURY 21 Affiliated has been working on.
As mentioned previously the first quarter of the year had a slow start. "I think primarily due to weather," Dan explains. "No one wanted to go out and look at properties when there is 6 feet of snow on the ground and it never got above zero degrees." The market started to pick up again into the second quarter. June was the best month in all of the company's marketplaces which was an indicator of where the market was going. CENTURY 21 Affiliated outperformed the state market averages in Wisconsin, Illinois, Indiana, and Michigan, as well as the overall National Association of REALTORS average in units sold and median sales price. "Congratulations to all of CENTURY 21 Affiliated for sticking it out and beating out all of your local marketplaces," Dan says.
"If you also look at our numbers year to date we are outperforming where we were at last year," Dan explains. Last year CENTURY 21 Affiliated was announced as the #1 CENTURY 21® franchise in the world in closed units. "This year we are already outperforming that and we are hoping to hold that title for 2014," Dan says.
Agents should not worry about external factors that may be hurting the real estate market. "What we can do is control what we do and what our Agents do," Bill explains. Bill focuses on two factors to determine company success: market share and per person productivity. "I'm happy to report for the first 6 months of the year we are up 18% in closed units which means we are up 25% over the market average," Bill says. "Also if you compare how many new Agents we have compared to growth each Agent, on average, is selling more than in 2013."
The "unofficial" theme to 2014 has been coined Renewal, Growth, and Reinvestment. Over the last few years CENTURY 21 Affiliated has grown so much as an organization that Dan and Bill felt it was important to have a renewed sense of energy for the company and one single focus for the culture. Dan explains that growth for the company is not only about expanding into new marketplaces but also giving Agents in 2014 more resources to expand their business. "We thought 2014 was a perfect year to reinvest in our organization," Dan explains. Seven offices within the company have either been remodeled or relocated to larger and more convenient spaces. These offices include: Delafield, Valparaiso, Crown Point, Orland Park, Sun Prairie, Demotte, and Hyde Park.
"I want to thank everybody, the staff, the agents, the leadership for the supreme effort to make us one culture," Bill explains. Some projects to come are an updated website and a VoIP phone system that will help the company better assist their customers.