You have reached your limit of free articles this month.

Enjoy unlimited access to SpringfieldNewsSun.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and interactive features. Starting at just 99c for 8 weeks.

X

Welcome to SpringfieldNewsSun.com

Your source for Clark and Champaign counties’ hometown news. All readers have free access to a limited number of stories every month.

If you are a News-Sun subscriber, please take a moment to login for unlimited access.

Real estate agents turning back to traditional sales


When the recession hit and many real estate agents quit the business, Jason Stockwell’s sales kept going up.

His strategy was basic: Follow the market. He started with traditional deals but quickly shifted to short sales and foreclosures when the industry began to slump.

“I’ve never had a year that I haven’t improved,” said Stockwell, 35, who has been a Realtor for nine years.

Now the nimble Re/Max Results agent, who was recently named the top-selling Realtor in Minnesota for 2012 by consulting company Real Trends, is shifting his strategy again. He’s turning his attention back to traditional sales as the market moves away from distressed properties and regular homeowners are in a position to sell.

It’s a key switch being seen by Realtors nationwide, and could ultimately bolster a profession that took a major beating during the recession.

“The percentage of business that is related to distressed (housing) has declined over the last few years,” said Steve Murray, editor of trade publication Real Trends, which tracks and ranks agents nationwide. “We still see a lot of teams and agents who do a lot of units; a lot of that is still distressed and REO property, no question about it. However … the mix of their more traditional, regular business has come up quite a bit in the last few years.”

Like Stockwell, who sold more than 300 properties worth a total of $41 million last year, many agents have spent the past few years focusing on distressed sales, but are adjusting as the market quickly changes course.

Earlier this month, RealtyTrac reported that foreclosure filings during June fell to their lowest level since the end of 2006, suggesting that fewer homeowners are having trouble staying current on their house payments.

It’s a welcome change for agents, many of whom had no choice but to turn to distressed properties during the recession. The economic downturn forced thousands of Realtors out of the industry, and those who remained had to find a way to stand out.

Many of them, like Stockwell, began to work with the U.S. Department of Housing and Urban Development, which sells reclaimed Fannie Mae and Freddie Mac properties and then contracts with agents to handle those transactions. Agents also work directly with banks that deal with distressed properties.


Reader Comments ...


Next Up in Business

Miamisburg candy store now selling pickle juice soda
Miamisburg candy store now selling pickle juice soda

Are you ready for Pickle Juice Soda Pop? Miamisburg-based Grandpa Joe’s Candy Shop is now selling dill pickle-flavored pop in stores and online. The vintage-style store at 42 South Main St. in downtown Miamisburg has more than 200 bottles of specialty sodas. “If you’re the kind of pickle lover who relishes all things pickled, this...
Waffle House co-founder dies a month after business partner
Waffle House co-founder dies a month after business partner

Both of the founders of Waffle House have died, just two months apart. Co-founder Tom Forkner died earlier this week at 98 years old, just two months after his business partner Joe Rogers Sr. died in early March. Rogers was 97 years old. “Tom will be remembered as a man of honesty and integrity,” Waffle House Chairman Joe Rogers Jr...
Ohio’s largest 100 employers in 2017: Walmart tops the list
Ohio’s largest 100 employers in 2017: Walmart tops the list

Walmart is back on top as Ohio’s biggest employer, regaining the No. 1 spot from the Cleveland Clinic, which usurped the giant Bentonville, Ark.-based retailer last year, according to a new list of the state’s top 100 employers. Walmart — with 173 retail operations, including nearly two dozen in the Dayton area — has 50,500...
PHOTOS: Nearly $1M Washington Twp. home for sale
PHOTOS: Nearly $1M Washington Twp. home for sale

A Washington Twp. house that features panoramic views of a wooded lawn is on sale for nearly $1 million. The home, located at 10765 Falls Creek Lane in the Waterbury Woods subdivision, is listed for $999,000 by Coldwell Banker Heritage Realtors. It sits on three-fourths of an acre property on a cul-de-sac. The 8,350 square feet of living space features...
Time running out on Premier, UnitedHealthcare negotiations
Time running out on Premier, UnitedHealthcare negotiations

Negotiations between southwest Ohio’s largest health system, Dayton-based Premier Health, and UnitedHealthcare, the nation’s largest health insurance company, remained at a standstill Thursday with the first deadline for their contract to expire rapidly approaching. UnitedHealthcare’s contract with Premier hospitals is set to expire...
More Stories