Building our brand in the city has been a top priority for us, and we're excited about our progress.
Chicago, IL (PRWEB) September 3, 2009
The RE/MAX Northern Illinois real estate network saw its market share of listed attached and detached properties sold in the City of Chicago real estate market increase to 8.3 percent during the first half of 2009, up from 6.5 percent at the end of 2008. As a result, RE/MAX ranks third among brokerages in the city, just 0.2 percent behind @Properties and well ahead of the fourth place firm, GMAC, according to data from Midwest Real Estate Data (MRED), the regional multiple listing service.
RE/MAX was the only brokerage organization ranked among the top six in listings sold in the City of Chicago that increased its market share during the first half of 2009. Those six top firms, with their market share percentages for the first half of 2009 and for 2008, are:
- Coldwell Banker - 2009-10.9 percent; 2008-12.1 percent
- @Properties - 2009-8.5 percent; 2008-9 percent
- RE/MAX - 2009-8.3 percent; 2008-6.5 percent
- GMAC - 2009-4.8 percent; 2008-6.7 percent
- Baird & Warner - 2009-4.1 percent; 2008-4.8 percent
- Century 21 - 2009-3.8 percent; 2008-6.2 percent
"Our ultimate goal is to reach the number one ranking in city market share of listings sold, and we continue to make progress," said Jim Merrion, regional director of the RE/MAX northern Illinois real estate network. "With more than 1,500 companies engaged in real estate brokerage in the city, the competition is fierce, but we are confident that we will reach our goal. Our agents have the skills, experience and flexibility needed to succeed in any market environment."
RE/MAX had the leading market share in 29 of the 77 official city neighborhoods during the first six months of 2009 and either increased or maintained its market share ranking in 48 neighborhoods during that period.
"We were very pleased to see our agents attain market share leadership in Rogers Park, West Ridge, Albany Park, Portage Park and Irving Park, among other areas, for the January-June period," said Merrion. "Building our brand in the city has been a top priority for us, and we're excited about our progress."
Merrion attributes a portion of the market share increase to the training RE/MAX has offered its agents in how to work successfully with distressed properties, whether that is a foreclosure or a short-sale situation.