This one’s noteworthy, as much as anything, because this is the office from which I moved two months ago. Agents were notified this past weekend that the office will be closing and all will be transferred to the Surprise office about seven miles away.
It’s a less than auspicious end for that office, which was a highly-performing branch in the Century 21 system as Century 21 Tradin’ Places. Arizona Foothills acquired the office, along with Surprise and the already-defunct Westwing office, in September 2005.
Arizona Foothills owner Floyd Scott sent an e-mail back in December that said the company could continue operating in current market conditions through the end of this summer. No word on whether that prognosis has changed, though cost-cutting measures have been in evidence.
I saw the signs of this (pun intended) when I was billed post-humously (pun intended again) for the sign posts on three listings that expired long after I had left. I couldn’t earn a commission check – the new agent assigned had that opportunity – but that didn’t stop one final grab into my wallet.
Real estate offices are becoming as lean as possible out of necessity; the question is whether most started the cost-cutting measures too late.
UPDATE: More details will be available after a mandatory office meeting tomorrow. The agents are being told this is a temporary measure, possibly for a year, until a new location is found.
There’s vacant commercial all over Arrowhead but the issue may be the length of the lease. Landlords apparently are asking for a 5-year commitment, which is longer than the company’s owner is willing to make.
A smaller, satellite office closer to the Arrowhead area may be opened to help with paperwork but that’s speculative at the moment.[tags]Phoenix real estate, Century 21[/tags]