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Yerman Witman Gaines & Conklin Realty Reports More Than 40% Market Share Growth in 2010
Posted January 31, 2011
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Further reports of home prices falling nationally has not detracted from continued momentum, with sterling year predicted for 2011
Baltimore, MD - Although the U.S. Home Price Index is continuing to decline -- a recent report indicates home values dropped 1.6% in November as compared to the previous year - activity has remained strong at Yerman Witman Gaines & Conklin Realty (YWGC), the residential real estate division of The Strata Group. The Baltimore-based company has reported a more than 40% year-over-year increase in market share from 2009 to 2010 in Baltimore City and Baltimore County, the company's core market area,
Billy Yerman, CEO of The Strata Group, says that there are a number of factors why the company is growing despite the challenging business environment. "Buyers and sellers are coming to YWGC in greater numbers because of the highly-skilled professional agents that have moved here from other brokerages, and because we're innovative," Yerman said.
"We are charging hard in a place, Central Maryland, that is outpacing the rest of the nation," he said. "Our local residential marketplace is distinctive because of the positive job outlook that has persisted during the economic downturn, the influx of new residents that is already flowing into Maryland due to the Base Realignment and Closure process and the proximity of a strong economic driver in the Federal Government."
Yerman explains that all home product types -- condominiums, townhouses and single-family homes - continue to exchange ownership hands in the market, and all degrees of price points have been generating levels of interest from homebuyers.
Yerman believes that YWGC Realty's connection to The Strata Group is also fueling its growth. "Within our organization we have 10 top real estate lawyers and some of the elite title professionals in the industry, several of whom have attained the CDPE (Certified Distressed Property Expert) certification. This gives us a competitive edge in the increasingly important short sale process," he said. "Plus we have eight tenured and highly successful mortgage professionals on staff here. This helps us swiftly and successfully cope with any issues that may arise in the process. So deals that might be derailed at the settlement table in another firm can smoothly close here.
"Our philosophy is that non-traditional times require non-traditional thinking," Yerman said. "That, in a nutshell, is why we are enjoying increased market share right now."
YWGC currently has a roster of more than 175 Realtors covering the Central Maryland region who are aided by an array of personnel and technological resources and marketing assistance including mobile app technology that allows buyers to perform targeted searches and take virtual tours of properties. "Drip marketing" campaigns are also extensively utilized by its Realtors and all buyers receive copies of settlement documents on CDs at the conclusion of the transaction.
"We continue to attract new talent into our organization based, in part, to our model of local ownership and quick decision-making ability, which compares favorably with a nationally-owned brokerage environment. And more quality agents translates to increased sales volume," Yerman added.
Yerman Witman Gaines & Conklin Realty is one of six complementary business units that comprise The Strata Group, which is headquartered in Baltimore, and offers specialized products and services targeting the residential and commercial real estate sectors. Other divisions offer title and escrow, mortgage funding, law, financial and home sales marketing services and support.
For additional information, visit www.ywgcrealty.com or www.mystratagroup.com.
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