Had lunch with the retired gaming executive that I have come to know by living and working here in Las Vegas, NV.
At lunch, he said that he had heard that one of the national real estate firms located in Las Vegas, NV could be closing it's doors before the end of the year.
Now, he did say which one; but, for the sake of NOT spreading rumors -- at least until I can verify this information -- I will just let that simmer.
This information was told to him by an agent he knows that works at that very office. And, she also said that they have only closed three sales or escrows this year since January, 2016.
And, because they are in the prestigious high end office with their monthly rent so high, the agent told him that she was leaving and was going to get out of the real estate business altogether.
Now, a day later, I attended a mixer that a major national bank held. When I arrived -- fashionably late -- I saw that there were only maybe three or four CRE agents attending. The rest were all bank employees from various divisions of the sponsoring bank.
As I was greeted by a bank employee I know, I asked her why the CRE agent/broker attendance was so poor? She embarrassingly said something to the effect that most of the invitees (real estate agents/brokers) were to busy and didn't RSVP.
Oh, really, was my reply.
I then told her about the major CRE company that I had heard only closed three sales this year. She replied, that she had heard that, too!
So, I wonder. If a national real estate company -- given that it is a franchise -- can't close sales and maintain their office; I feel so lucky that I have been able to, that I should travel to Prim and stand in 110 degree heat to buy a lottery ticket.
Then, again, I would probably get mauled by a Polar Bear before acquiring the winning ticket. (That seems to be my luck.)
Anyway, I think I will stick to doing what I am doing, because what I do seems to still be able to put sales deals together and close escrows when needed.
And, if it is true that Las Vegas CRE is about to go south -- again -- then, you need to contact me now, so we can put together a game plan for moving forward once this 'new' recession hits us.
I am ready when you are...
Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes
At lunch, he said that he had heard that one of the national real estate firms located in Las Vegas, NV could be closing it's doors before the end of the year.
Now, he did say which one; but, for the sake of NOT spreading rumors -- at least until I can verify this information -- I will just let that simmer.
This information was told to him by an agent he knows that works at that very office. And, she also said that they have only closed three sales or escrows this year since January, 2016.
And, because they are in the prestigious high end office with their monthly rent so high, the agent told him that she was leaving and was going to get out of the real estate business altogether.
Now, a day later, I attended a mixer that a major national bank held. When I arrived -- fashionably late -- I saw that there were only maybe three or four CRE agents attending. The rest were all bank employees from various divisions of the sponsoring bank.
As I was greeted by a bank employee I know, I asked her why the CRE agent/broker attendance was so poor? She embarrassingly said something to the effect that most of the invitees (real estate agents/brokers) were to busy and didn't RSVP.
Oh, really, was my reply.
I then told her about the major CRE company that I had heard only closed three sales this year. She replied, that she had heard that, too!
So, I wonder. If a national real estate company -- given that it is a franchise -- can't close sales and maintain their office; I feel so lucky that I have been able to, that I should travel to Prim and stand in 110 degree heat to buy a lottery ticket.
Then, again, I would probably get mauled by a Polar Bear before acquiring the winning ticket. (That seems to be my luck.)
Anyway, I think I will stick to doing what I am doing, because what I do seems to still be able to put sales deals together and close escrows when needed.
And, if it is true that Las Vegas CRE is about to go south -- again -- then, you need to contact me now, so we can put together a game plan for moving forward once this 'new' recession hits us.
I am ready when you are...
Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes
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