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Two Southwest Florida real estate firms in nation’s top 100

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Sales may be sluggish, but two Southwest Florida real estate offices still managed to make the list of top 100 companies for sales volume in 2007.

The list was published in the June issue of Realtor Magazine.

Naples-based Downing-Frye Realty Inc. ranked 85th in the nation for closed sales in 2007.

The company reported more than $1.3 billion in total sales, and a total of 1,972 transactions.

John R. Wood, also based in Naples, ranked 93rd, with reported sales of more than $1.22 billion and 1,663 transactions in 2007. The company wasn’t on the list last year.

Both companies saw their business slow in 2007.

At John R. Wood, sales volume fell 6.5 percent and transactions were down 21.7 percent from a year ago. At Downing-Frye, sales volume dipped 21.5 percent and transactions dropped by 24.7 percent.

Downing-Frye has made the top 100 list four years in a row. Last year, it ranked 81st in the nation.

“This is a tremendous achievement for our organization and is particularly gratifying considering the tough real estate market that existed throughout much of last year,” said Mike Hughes, vice president for Downing-Frye, in a statement.

He noted that 2008 is another challenging year.

But, he said, the company’s “investment in new sales associates and technology is paying off.”

“So far, we have participated in more than 1,000 transactional sides and our closed-sales volume is over $600 million,” he said.

Transactional sides refers to a sale in which the company represents both buyers and sellers.

Downing-Frye has 10 offices, serving Naples, Marco Island and Bonita Springs. The company was founded in 1961.

John R. Wood, celebrating its 50th anniversary this year, soon will have six offices in Southwest Florida, with the opening of a new headquarters off Immokalee Road.

The two companies were among four real estate firms in Florida to make it on the Top 100 list this year.

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C'mon all you nay sayers and Realtor bashers!

#1 Posted by trehuger on July 8, 2008 at 2:26 p.m. (Suggest removal)

Born and raised here and miss the old Naples. But nothing stays the same anywhere and beautiful Naples is no different. Bring progress on, we all need it! Progress and growth means money for a lot of us out here. Before you start criticizing realtors (I'm not one), understand that when they are making money, most of the rest of us are as well! Remember how much extra cash was around two years ago? Bring it on!!

#2 Posted by Flacrkr on July 8, 2008 at 2:36 p.m. (Suggest removal)

trehuger, there is not much to bash here, just Realtors advertising for other Realtors, it is like the Academy Awards for Realtors. Does anyone really care outside of the industry which firms have the most sales?

#3 Posted by time on July 8, 2008 at 2:39 p.m. (Suggest removal)

I think it says a lot for 2 firms in a tiny little town like Naples to be ranked among the big boys nationally!

#4 Posted by FloridaBoy on July 8, 2008 at 3 p.m. (Suggest removal)

Flacrkr you are right in what you say. With growth comes higher taxes to supply the needs for all. Just remember what you said. And there is no way to get around it.

But dont get me wrong I am not against growth. Theres just a price to pay. And as taxpayers we pay it.

#5 Posted by chincieone on July 8, 2008 at 3:06 p.m. (Suggest removal)

Trehuger,

I would like fries with that burger thanks.

#6 Posted by Sanity on July 8, 2008 at 5:24 p.m. (Suggest removal)

I've read the report. If you read the "fine print" you will understand why these 2 local firms made the list. The major New York City realtors are not on list for obvious reasons (see the fine print).

#7 Posted by dooley on July 8, 2008 at 5:31 p.m. (Suggest removal)

Sour grapes for some reason dooley? Let em have their moment. So few these days. Funny, if you just looked at these two firms as normal local businesses and not Real Estate firms, we'd all be congratulating them for their national accomplishment.

Hmmm, now that I think about it, congratulations!

#8 Posted by naplesregular on July 8, 2008 at 6:02 p.m. (Suggest removal)

I don't see how a comparision of Downing-Frye and J.R.Wood is feasible as they are two animals of opposing stripes.
The Realtors at Downing-Frye pay a monthly rental fee to hang their license on the wall then operate as independant businesses, retaining their entire commission. On the other hand J.R.Wood operates as a traditional real estate brokerage where the agents are paid a percentage of the comissions they generate.
Downing-Frye's income remains somewhat steady through good or bad times as it is based on how many agents they can get to pay rent, whereas Woods fortune is subject to the vagaries of the market since they depend on the volume of sales they broker.
Compare it to a hair salon that rents chairs to their stylists vs. the salons who pay their stylist based on the income generated.
Who knows where you get the better haircut? ...But I'll bet that you can guess which company owners are raking in the most moolah!

#9 Posted by Naplestango on July 8, 2008 at 7:49 p.m. (Suggest removal)

Tango - your last question is non-sensical. Your question should be "Can you guess which company's profits are more stable?"

Re: a comparison, the report details total sales in both dollars and transactions. Why is this not a fair measure to compare the two firms both here and in the marketplace? How they pay their 1099's is irrelevent. Yes?

#10 Posted by naplesregular on July 8, 2008 at 8:18 p.m. (Suggest removal)

naplesregular: You missed the point and I'm not keen on explaining it differently.

#11 Posted by Naplestango on July 8, 2008 at 9:41 p.m. (Suggest removal)

Naplestango read the article (thank you naplesregular) its based on total transactions and sales.
Again naplesregular thank you, indeed if these were other types of business people would be hoping up and down, unbelievable.

Lastly "time" realtors advertising for realtors, hmmm. Every profession has their own internal awards, this one is national, you should be proud. Leave your miserableness at home where it belongs

#12 Posted by trehuger on July 8, 2008 at 9:44 p.m. (Suggest removal)

Despite popular misconceptions, there is still alot of inventory being moved here in Naples.

And a good portion is FISBO related.

Many people have taken matters into their own hands to avoid hige commissions that cut into their already shrunken bottom line.

And especially in the mid-range condo market.
Difference of lowering a condo price by $5000 (by the owner) or paying out $15,000 in a commission is common sense.

#13 Posted by naplestrek on July 9, 2008 at 12:08 a.m. (Suggest removal)

Congratulations! To JR Wood and Downing-Frye. Good to see growth still pays for growth, right? Isn't that what the upper crust states. Keep building, we have the room and need more store front vacant space. We need more unused homes. Not a problem. Eventually someone or some business will need them, right?
Good to hear that at least 2 businesses seem to be prospering. It seems others have closed their doors permanently and still others are barely surviving.
There is a silver lining.
(Can I sell my home now and get out of here, I've been a good boy and not belittled nor badmouthed any realtors...)

#14 Posted by Jadip811 on July 9, 2008 at 5:37 a.m. (Suggest removal)

This place reeks!

#15 Posted by techie on July 9, 2008 at 7:01 a.m. (Suggest removal)

Techie - when was the last time you had anything POSITIVE to say on ANY subject? LOL

Tango - you're factual statement of how those 2 firms are set up is correct. I only debated your assessment of profitability. JRW is the std RE model. DNFR is more risk averse. Pick your poison which business model is better. I personally like to sleep at night however.

#16 Posted by naplesregular on July 9, 2008 at 8:08 a.m. (Suggest removal)

The first paragraph says "list of top 100 companies for sales volume in 2007"

it further acknowledges the number of transactions, but it appears the list is based on sales volume. I think we would need to look at the actual REALTOR magazine to see the story. NDN isn't clear

Those two agencies seem to have the high ticket listings...

#17 Posted by sunshinelover on July 9, 2008 at 1:52 p.m. (Suggest removal)



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