REED BROS. REALTY
2010 COMPANY PROFILE AND 2009 YEAR IN REVIEW 291 West Cascade Avenue, Sisters, Oregon 97759 – 541-549-6000
COMPANY HISTORY The History of Coldwell Banker CORPORATE HISTORY: In 1906, Colbert Coldwell, a young real estate agent, observed families trying to piece their lives together following the San Francisco earthquake. Disapproving of agents who acquired their properties from vulnerable sellers and resold them at huge profits, and seeing a tremendous need for honest, knowledgeable real estate people, Colbert Coldwell founded his company with a revolutionary philosophy: the customer’s best interest above all. In 1914, Benjamin Arthur Banker joined Colbert Coldwell as a full partner. Together Coldwell and Banker forged a tradition of integrity, exceptional service and customer satisfaction that became our company’s trademark. Today the Coldwell Banker brand has a global reach, with offices on six continents, 47 countries and territories. There are 3,965 offices around the world and over 126,000 sales associates. In 2007, Coldwell Banker Offices in Canada and the United States had a closed sales volume of $265 billion.
INDEPENDENT HISTORY: Coldwell Banker Reed Bros. Realty is celebrating their 35th anniversary in Sisters this year. In 1974 Bill Reed established the office under the name the General Land Office. It was located in a converted residence on Cascade Street across from The Gallery Restaurant. Bill’s brother Mike joined the company in 1976 and the name was changed to Reed’s General Land Office and was relocated to another converted residence next door to our existing location. Mike became a full partner in 1979 and the name was changed to Reed Bros. Realty. They quickly outgrew that location and built an office building on the corner of Cascade and Oak in 1982, where the office is located today. The company was expanded in 1992 when a branch office was opened after the company was selected to be the Exclusive On-Site Realtor at Black Butte Ranch. Bill and Mike joined the Coldwell Banker team in 1993 and the name was changed to Coldwell Banker Reed Bros. Realty. The company is proud to have achieved the Coldwell Banker Premier Office designation in 1994 and has continued to earn that designation every year since. The company was awarded the Chairman’s Award of Honor in 1996, 1997 and 1998. Coldwell Banker Reed Bros. Realty was the # 3 Coldwell Banker office in the nation in 2005 and 2006, based on size and production.
COMPANY OFFICERS and OWNERS Mike Reed…………………………....President / Owner Ashley, Ryan and Brittany Reed……..Owners
MANAGEMENT Mike Reed, CRB, CRS, ABR….…...…Principal Broker Lori Ketchum……………………….…Principal Broker
ADMINSTRATIVE STAFF Lori Ketchum…………………Admin Assistant/Accounting Joni McCreery………..……….Office Administrator/Receptionist Vicki Cudek…………………..Weekend Receptionist
BROKERS / SALES AGENTS Annie Andreson, Broker Susan Bird, Broker, GRI Linda Brooksby, Broker, GRI, ABR Linda Brunanchon, Broker, GRI, ABR Carole “CB” Davis, Broker, GRI, CRS, ABR Jackie Herring, Broker Jeff Jones, Broker, GRI Lana Labuda, Broker, GRI Jon McCumsey, Broker Mike Mansker, Broker, GRI, e-Pro Connie Mitchell, Broker, GRI Steve Post, Broker Ryan Reed, Broker Doug Roberts, Broker, GRI, CRB Forrest Smith, Broker
Annual Property Sales Home and Land Sales $173,697,310
Annual Sales
$60,000,000
312
$91,958,343
700 600
430 374 307
272 221
$40,000,000
154
500 $49,487,581
305
347
800
$71,385,494
$80,000,000
$65,060,264
$100,000,000
$81,127,950
$120,000,000
$83,538,660
$140,000,000
900
$118,083,357
$160,000,000
$121,796,233
$180,000,000
1000 $158,025,066
$200,000,000
148
$20,000,000
400
300 200 100
$0
0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Dollar Volume
Number of Sales
Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.
BBR and Sisters Area Home and Land Sales
Average Selling Price
$463,452
900
430
374
$334,376 $250,000
800 $350,000
$403,947 $306,000
$265,010 $203,000
312
347
1000
$415,000
$514,740
272
$267,752 $199,500
305
$239,192 $198,950
$200,000
$265,993 $186,000
$400,000
$325,586 $244,000
$500,000
$423,000
$600,000
$300,000
$534,314
Home and Land Sales
700 600 500 400
307 300
221 154
$100,000
148
200
100 $0
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Average Selling Price
Median Selling Price
Number of Sales
Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.
BBR and Sisters Area Home and Land Sales
Sisters Area Transactions 2008 / 2009 CLOSED SALES COMPARISONS HOME AND LAND SALES
Volume Number of Sales Average Sales Price
2008
2009
$71,208,494
$49,487,581
153
149
$465,415
$332,131
2009 Percentage of Increase Volume……………............. -30.5% Sales……………................. -2.7% Average Sales Price……… -28.6% Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.
BBR and Sisters Area Home and Land Sales
Annual Property Sales
$70,428,249
$65,170,496
900
800 700
$59,710,695
$60,000,000
$47,630,252
$80,000,000
$56,626,920
$100,000,000
$92,154,339
$120,000,000
1000
294 $40,000,000 196
212 176
233
256
600 500 $40,593,645
$140,000,000
$100,505,040
$128,480,005
Annual Sales
$123,895,865
Home Sales
400
300
228 179
200 132
$20,000,000
112 100
$0
0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Dollar Volume
Number of Sales
Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.
BBR and Sisters Area Home and Land Sales
Average Selling Price
176
$561,481 $452,354
900
$362,443 $277,500
800 $350,370
$439,000
1000
700 600 500 400
$200,000
196
$359,978 $302,950
$302,267 $241,000
$307,408 $245,000
$300,000
$270,626 $229,000
$400,000
$288,913 $229,500
$500,000
$437,007 $350,000
$600,000
$543,403 $456,530
Home Sales
212
233
256
294
300
228 179 132
$100,000
112
200
100 $0
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Average Selling Price
Median Selling Price
Number of Sales
Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.
BBR and Sisters Area Home and Land Sales
Sisters Area Transactions 2008 / 2009 CLOSED SALES COMPARISONS HOME SALES
Volume Number of Sales Average Sales Price
2008
2009
$59,533,695
$40,593,645
131
113
$454,456
$359,236
2009 Percentage of Increase Volume……………............. -31.8% Sales……………................. -13.7% Average Sales Price……… -21.0% Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.
BBR and Sisters Area Home and Land Sales
2009 CLOSED SALES PRODUCTION TOP 10 COMPANIES
Home and Land Sales OFFICE
UNITS
VOLUME
# OF AGENTS
AGENT AVERAGE
1
Coldwell Banker Reed Bros. Realty
89
$35,948,800
17
$2,114,635
2
Ponderosa Properties
52
$14,163,425
10
$1,416,343
3
Re/Max Town & Country
41
$13,420,402
15
$894,694
4
R.A. Dick Howells Co.
8
$5,588,000
3
$1,862,666
5
H&H Preferred Real Estate
14
$3,249,500
8
$406,188
6
Steve Scott Realtors
3
$2,855,700
25
$114,288
7
CB Morris Real Estate
10
$2,199,000
70
$31,414
8
Hasson Company Realtors
11
$2,181,250
40
$54,331
9
Sisters Hometown Realty
7
$2,155,000
4
$538,750
10
John L Scott – Bend
7
$2,082,000
80
$26,025
Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.
BBR and Sisters Area Home and Land Sales
2009 CLOSED SALES VOLUME Home and Land Sales - Market Share Sisters Hometown Realty 2.2%
John L Scott Bend 2.1%
Coldwell Banker Reed Bros. Realty 36.3%
All Other Offices 15.3%
Hasson Company Realtors 2.2%
CB Morris Real Estate 2.2% Steve Scott Realtors 2.9%
Hayden Enterprises Realty 3.3%
R.A. Dick Howells Co. 5.7%
Re/Max Town & Country 13.6%
Ponderosa Properties 14.3%
Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.
BBR and Sisters Area Home and Land Sales
CLOSED VOLUME IN MILLIONS TOP FOUR COMPANIES January 1, 2009 through December 31, 2009
$35.9m
Home and Land Sales
$14.2m
Reed Bros. Realty
$13.4m
$5.6m Ponderosa Properties
Re/Max Town & Country
R.A. Dick Howells
Source: Central Oregon Multiple Listing Service for the Period 1/1/2009 to12/31/2009 as reported on1/15/10.
BBR and Sisters Area Home and Land Sales
CLOSED VOLUME IN MILLIONS TOP FOUR COMPANIES January 1, 2009 through December 31, 2009
$25.4m
Home Sales
$12.8m
$12.3m
$5.9m
Reed Bros. Realty
Re/Max Town & Country
Ponderosa Properties
R.A. Dick Howells
Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/2009 as reported on1/15/10.
BBR and Sisters Area Home and Land Sales
Million Dollar + Sales Market Share – Sisters Area January 1, 2005 through December 31, 2009
Home and Land Sales
48.7%
Reed Bros. Realty
11.5%
10.3%
Re/Max Town & Country
Ponderosa Properties
Source: Central Oregon Multiple Listing Service for the Period 1/1/2009 to12/31/2009 as reported on1/15/10.
BBR and Sisters Area Home and Land Sales
INTERNATIONAL OFFICES WORLD WIDE OFFICES OFFICE
ESTABLISHED
COUNTRIES
OFFICES
AGENTS
1
Coldwell Banker
1906
46
3,300
100,000
2
Re/Max
1973
70
6,800
96,000
3
Sotheby’s International
1976
38*
500*
10,500*
COMLS MEMBER OFFICES Production includes all areas and all property types OFFICE
OFFICES
AGENTS
UNITS
2009 PRODUCTION
1
Coldwell Banker
6
132
1,239
$282,334,065
2
Sotheby’s International
2
66
278
$98,599,727
3
Re/Max
3
36
220
$50,450,146
2009 Per Person Productivity OFFICE
AGENTS
UNITS
VOLUME
1
Coldwell Banker
132
9.4
$2,138,894
2
Sotheby’s International
66
4.2
$1,493,935
3
Re/Max
36
6.1
$1,401,393
Sources: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/14/10, www.coldwellbanker.com, www.remax.com, www.sothebyrealty.com. *2008 figures, 2009 figures are not published.
BBR and Sisters Area Home and Land Sales