annual report
1948
2012
64 Years of Strength & Stability
A Message From Our CEO
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We have the most dedicated, hardworking sales professionals and employees who serve a very special need in our community...helping people achieve the American dream of homeownership. Every day people place their families’ futures in our hands. It is a tremendous responsibility but one that pays off with tremendous rewards.
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As Nothnagle REALTORS® enters its 64th year we are proud of our long-standing heritage of serving as Rochester’s “Hometown Realtor.” Nothnagle’s reputation, solid brand and dominant market share reflect the confidence consumers place in us every day to help them with their home buying and selling needs.
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I am honored and humbled to be a part of this profession. Our impact on the economy is of great importance on both the local and national levels. Housing has led this country out of six of the last eight recessions and accounts for more than 15% of the Gross Domestic Product, making it a key driver in our national economy. Home sales in the U.S. generate more than 2.5 million private-sector jobs in an average year. For every two homes sold, a job is created. Every home purchased pumps up to $60,000 into the local economy for furniture, home improvements, household goods and related items.
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In addition to the economic factors, there are many social benefits as well around homeownership including children’s improved school performance, preservation of property values, reduced crime in residential neighborhoods and increased civic participation. All are part of the stability and pride in ownership that comes with buying a home. And we are a part of it! Locally, Nothnagle has had a tremendous impact on the regional economy: • Last year $26 million was paid out in agent commissions and employee wages money that goes right back to local businesses, restaurants, retailers and services. • We facilitated the sale and purchase of homes for over 8,000 buyers and sellers in 2011. • $7 million was paid to local businesses and vendors who in turn pay their employees and re-invested the money with other local busine sses.
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The prudent management and fiscal responsibility of our leadership has created the financial strength and stability that enables Nothnagle to successfully manage the peaks and valleys of this highly cyclical business. While many other real estate companies struggle to survive, Nothnagle has positioned itself to build market share and to be a beacon of strength in any market
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If you’re looking to buy or sell, we can deliver the results you’re looking for. You have my personal promise that with Nothnagle REALTORS®, you will get more!
President & CEO
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Company Highlights Total sales volume was $1,094,944,787 and Nothnagle continues to outperform the competition in 2011. This represents a 1% increase in volume over 2010 versus GRAR’s reported a 7% decline in sales volume over 2010. Our Average Days on Market was 26 days FEWER than the MLS average. Nothnagle REALTORS® new corporate headquarters was completed and occupied in January 2011. The stunning 27,000 square-foot building at 217 West Main was completely renovated from top to bottom after having been vacant for over a decade. It now is an anchor development for the historic Cascade District neighborhood located at the western gateway of Rochester’s business district. We are proud to be part of the revitalization efforts occurring in Downtown and are already seeing additional investment taking place all around us. A newly-designed mobile website was launched, featuring over 30,000 listings and over 300,000 photos. Noth.mobi (m.nothnagle.com) displays detailed property information and makes it even easier for consumers to connect with our agents and offices. The site loads quickly on Android phones, iPhones and iPads, BlackBerries and other smartphones. For GPS-enabled smartphones, the site displays properties nearby, maps and driving directions. Western New York’s best real estate website got better! Nothnagle.com was redesigned to allow easier access to information for multiple audiences. Buyers have multiple quick search options plus advanced and map-based searches. Sellers can see an overview of Nothnagle’s marketing programs – designed to promote a property to an audience of potential buyers, getting more homes sold faster and closer to asking price. Homeowners can peruse a variety of resources to maintain, insure and refinance their home. The site is designed to present properties cleanly, with large photos, property videos, local market information and links to school and community information. Nothnagle’s Facebook page (Facebook.com/ NothnagleRealtors) now features property videos! Visitors can perform a simple search and immediately view professional videos for every listing- without leaving Facebook. Each video features the agent and contact information, as well as links to nothnagle.com. The Nothnagle Insurance Agency made the move to the new Corporate headquarters in January 2011 and found that the new, central location has made the agency even more accessible to agents, employees and especially clients. In 2011, the agency was the “Top Producing New Allstate Agency” in our region in Homeowners and Financial
Nothnagle Realtors® 2011 Annual Report
policies and was recognized nationally by Allstate as a “Premier Service Agency. “ The agency continues to experience growth and expansion due to competitive rates and the affiliation with Nothnagle agents. Throughout the year the Marketing Department has continued to evolve and add new products such as the property flip books found on the nothnagle.com property detail page. We have also renewed our commitment to assist agents with both digital and print marketing needs with the launch of the new and enhanced product catalog found on the Nothnagle Intranet. Our in-house Relocation Department had one of the best conversion rates in the network and experienced an increase in both incoming and outgoing referrals. Through our affiliation with Leading Real Estate Companies of the World®, Nothnagle is connected to a global network of 550 premier real estate firms with 4,600 offices and 140,000 sales associates in 30 countries around the world. Our LeadingRE partnership also allowed us to introduce on-line learning including both skill-building seminars as well as NYS-approved courses for continuing education credit. Agents can easily access Institute 2.0 directly through the Intranet. Nothnagle Home Services is a Preferred Vendor resource for our agents, employees and clients. With 800 agents and employees plus 45,000 registered Home Services clients, we work hard to match the needs of our customers with licensed, insured and qualified vendors who offer exclusive discounts only available through our program. The Home Services section of Nothnagle.com was recently updated, giving those we serve more resources and easier connectivity to our expanding list of Preferred Vendors while maintaining this as an exclusive lifetime service only available to Nothnagle clients and affiliated personnel. In 2011 we implemented high customer services standards to our vendors to ensure agent and client satisfaction. In 2011, we opened three additional franchise locations in Cortland, Penn Yan and Orchard Park bringing our total number of franchise outlets to seven. We continue to expand services to brokers outside of New York, offering a full range of real estate software platforms from website design and lead capture to back-end agent and broker tools. Currently we have 11 technology clients in eight states and are exploring additional licensing opportunities in five more states and Canada.
Ribbon Cutting Ceremony April 18, 2011
2011 Statistics
$1,094,944,787
in sales volume
4th Quarter 2011 vs. 4th Quarter 2010 Units
8,070
transaction sides
3.5 million visitors to Nothnagle.com Annual Sales Volume 2008 - 2011
Nothnagle vs. Competition Sales Volume 2011
Corporate Headquarters 217 West Main Street Downtown Rochester