2010 Reed Bros Company Profile

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