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Thursday, Apr 25, 2024

Top Firms Find Ways to Grow

Today’s real estate market is difficult and often unpredictable, but some of the companies on our Largest Residential Brokerage List say they are finding ways to deal with the challenges and grow their business. Rodeo Realty topped our List with reported revenues of $1.9 billion for the first half of 2011. The Beverly Hills-based company has remained on the top of its game by maintaining its service offerings and avoiding extra fees, while competitors have done just the opposite, said Rodeo Realty President Syd Leibovitch. “During the good times, we were saving for the bad times, because if you want to be successful, that’s what you want to do,” he said. Rodeo recently has more than doubled the size of its Calabasas sales office and plans to hire about 50 agents. In October, Rodeo will expand its Encino office to accommodate another 20 agents, bringing the location’s total to about 100. In the past year, the firm also expanded its Woodland Hills and Sherman Oaks offices adding about 3,000 square feet and 20 additional agents to each location. Leibovitch said the company will continue to raise the bar by offering its agents support, such as marketing services, and giving its clients top-notch customer service. His view on the market: “It’s a funny market. It picks up. It slows down, and it picks up again. I think a lot has to do with consumer confidence.” But by 2013, he said, “we’re going to be booming again.” Coldwell Banker in Studio City ranked a close second on the List with $1.8 billion in sales so far this year. President Jeff Culbertson said low interest rates and attractive sales pricing have been significant factors in the company’s results. It also doesn’t hurt to have an A-list roster of clients such as Candy Spelling, Jennifer Aniston, and Dennis Hopper, he said. Culbertson said he and his associates apply their company motto to all client interaction, no matter the name or celebrity-status. “It’s our agent’s duty to meet their obligations and exceed the client’s expectations,” he said. As for the future, Culbertson said he sees the region having a gradual recovery and the market becoming more stabilized. No. 3-ranked Pinnacle Estate Properties in Northridge reported $1.7 billion in sales. “We’re selling more numbers of homes than ever before but sales prices are lower so we’re not making as much in dollar value.” Co-founder and CFO Jeff Black said. He said the company is no longer brokering loans, which has also affected the company’s sales volume. However, the company has grown its presence in the region since 2002, Black said, noting the company has doubled in size during the timeframe. Following at No. 4 is Simi Valley-based Troop Real Estate. The firm had revenues of about $1.1 billion. The company’s sales volume so far this year already has exceeded the total volume it reaped during the July 2009 to June 2010 period. Re/Max Valencia rounds up the top five with sales of $568.4 million. The remaining top 10 firms include: Realty Executives Santa Clarita at No. 6 with sales reaching $562.1 million; Dilbeck Real Estate Real Living in La Canada at No. 7 with $552.7 million; Keller Willams Realty-Studio City at No.8 with sales of $276.6 million; Coldwell Banker Quality Properties in Northridge at No. 9 with revenues of $232.5 million; and RE/MAX Tri-City Realty in Glendale at No. 10 with sales of $149 million. Editor Jaclyn Giovis and Staff Reporter Mary Catherine Holcomb contributed to this report. Download the 2011 SFV’s LARGEST RESIDENTIAL REAL ESTATE Firms list (pdf)

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