Our friend Bob Darrow has noticed ads from both Coldwell Banker Residential Brokerage and @properties declaring their superiority in the Chicago market. This morning he posted a video on his blog, Your Windy City Guide, in which he delves into a variety of numbers, from total sales to the number of agents and offices required to make those sales, to see which company has the greater claim to the top spot.
For the record, Bob is a Realtor with @properties, and Coldwell Banker is a client of YoChicago’s parent company.
Bob,
I don’t think a consumer can learn much of anything useful from your statistical comparisons.
When I’m buying or selling I want to work with an experienced agent who has deep familiarity with the very specific market I’m selling or buying in. Company-to-company comparisons don’t help me find or evaluate that agent, and don’t tell me anything about a particular agent.
This year’s market is not a typical one, and a comparison based on year-to-date data alone is deeply misleading. The company you refer to as “big blue brokerage” (Coldwell Banker, a long-time client of my firm’s) has been the market leader in prior years. In recent years a number of companies have outranked @properties, which is a relative upstart in the business. The cumulative experience of those companies, their managers and their agents counts for quite a bit in a tricky market like this one. It’s also important to note that those companies have broad product experience while @properties market share was built largely in a niche that’s currently troubled – new construction and conversions.
Hi Joe,
Though your argument is sound, I simply wanted to answer the question “Who’s #1?” since in recent weeks the two advertisements have been making the same proclamation. And in close proximity! (The ads have been nearly side-by-side in resent weeks.) And I think the analysis answers that question.
Your follow up suppositions are just as interesting, and I promise to dive into that data in the next couple days. Especially the statement that much of @properties market share was built in the new construction niche. Although that’s where the company’s roots are founded, expansion in recent years has been driven by attracting experienced agents with a solid book of re-sale buyers and sellers.
Though I am pre-supposing the results of my research, I am often surprised by what the data reveals. I look forward to sharing!
Bob,
Well, you did more than simply answer a question. You stated at the end of your video that the data support the proposition that “there’s definitely a benefit to grabbing an agent with @properties.” The data don’t support that.
I’m looking forward to your supplementary stats.