by Caroline Gabsewics
Staff Writer
With all of the reports about last year’s down market, Davidson Realty decided not to listen to the negativity and instead had a successful year.
On paper, it looks like Davidson Realty didn’t have a successful year, but company President Sherry Davidson explained why the numbers are just in fact — numbers. In 2007, Davidson Realty had $103 million in closings and in 2006 they had $166 million in sales.
“In 2005, we had a lot of builder presales and it was taking about a year to complete the homes,” she said.
As a result of that, many of the closings in 2006 were from sales in 2005.
The market started adjusting in 2006 and their 2007 numbers were sales they made in 2007 without the benefit of presales from 2006, she said.
“We weren’t way off,” she said.
Davidson added that the agents strayed away from the negativity surrounding the real estate industry and figured out how to change with the market instead of falling with the market.
Karen Palmer, vice president of residential sales for Davidson Realty, said everyone in their office kept great attitudes. They also made sure there were plenty of fun and exciting events to attend.
“We have a ‘No-No’ jar where a dollar would be put in the jar when a person said something negative,” she said. “So much of success is about attitude. And we don’t need bad attitudes.”
Davidson added that they made sure they didn’t listen or read about the negativity surrounding the real estate industry.
Another reason Davidson believes they had a successful year is because of their family-type of environment at the office.
“We have a real good working environment,” said Palmer. “The agents are competitive because of the nature of the business, but everyone works together.
“Especially last year, everyone worked very hard to keep it together until closing.”
Davidson and Palmer said they have very high expectations for their agents.
“They have to produce to work here,” said Palmer. “If we see they are having a tough time, we will help them figure out what is holding them back.”
Davidson said another reason their agents did well was because they were able to keep their staff intact.
“When the market got tough, many Realtors had to let their personal assistants go,” she said.
Davidson Realty found a way to help their agents keep their assistants. Aside from the assistants, Davidson Realty also has technical support, and a development team to assist the agents with whatever they may need.
“We provide a lot of staff support so we can keep our agents out doing what they do well,” said Palmer.
They have goals for 2008: increase their number of agents and reach $150 million in sales.
Their building was designed to add more agents and Palmer said that 35 would be do-able.
The $150 million? If all 35 agents have at least one transaction per month at $375,000, that’s $150 million with a little left over.
“Even with 24 agents, that is still reachable,” said Palmer. Last year, agents Lyn Sappington had $12 million in closings and Dottie Lay had $11 million in closings.
Davidson said there are currently three projects that have been delayed in the World Golf Village as a result of the market — one of them being the Cascades. The Cascades, a community for residents 55 and older, has been delayed because the builder Levitt & Sons filed Chapter 11 bankruptcy.
“A lot of the sales didn’t close last year and that hurt us,” she said.
But at the same time, the commercial real estate in the World Golf Village is doing well.
A CVS Pharmacy is under construction and preliminary site preparations are underway for a Walgreens.
There are a total of 7,200 approved residential units with about 3,300 families already living in the World Golf Village. Davidson said there are 163 homes under construction.
“We still have plenty to sell,” said Palmer.