Prudential CA/NV/TX Realty Breaks 2003 Sales Record in 2004

Posted by — March 20, 2005

Prudential CA/NV/TX Realty Breaks 2003 Sales Record in 2004

California - March, 2005 - Prudential CA/NV/TX Realty has broken the sales record it set in 2003. The company announced sales volume of approximately $15 billion with more than 35,000 transactions in 2004. Those numbers exceed the $11 billion in sales volume and 32,000 transactions set the previous year.

Other highlights include the expansion into Austin, Texas through a partnership with Prudential Owens Realty. That company is now known as Prudential Texas Realty. Prudential CA/NV/TX Realty first entered the Texas market in 2001 when it purchased the Dallas - Ft. Worth operation of Prudential Texas Properties.

"The real estate industry continues to be the backbone of the economy and one of the few sectors to see growth in 2004," said Ed Krafchow, president. "We expect our company to maintain robust sales in 2005, especially in high-growth key strategic markets like the Bay Area, Sacramento, Reno and Austin where demand remains high."

"We're also reaching out to emerging markets through our vertical partners in mortgage, title & escrow and home warranty," added Krafchow. "We recently conducted an internal study of the emerging Hispanic real estate market in Northern California and identified a need for loan products tailored to that market. As a result, The Home Loan Group, our mortgage partner and a Chase affiliate is now offering a 103% LTV product."

The company says it has furthered its position as a real estate technology leader through the introduction of the Real Estate Simulator and Recruit Watch, tools that will allow the company to meet its goal of adding 5,000 new agents over the next five years. The company also has plans for a mid-year upgrade of its Intranet site, the WebTop. That upgrade will benefit sales associates with a transaction management platform, client management tools, customizable agent Web sites, marketing materials and video-enhanced online training, the company says.

"The real estate industry has always been first and foremost a people business," said Krafchow. "We have a commitment to keep the agent at the center of the transaction. We must continue to respect the needs of our agents and customers, listen to their feedback and implement the processes that will provide them value and save them time. That's the key to positive change and continued success in 2005."

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