PenFed Realty Announces Another Successful Year In Real Estate

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PenFed Realty discusses the growth and success its brokerage experienced in 2013 as well as reviews what’s on the horizon for this year.

PenFed Realty Infographic - 2013 Year in Review
We are able to continue to grow because our agents provide our clients with unparalleled value and benefits resulting in 100% satisfaction with every transaction.

PenFed Realty announces a successful 2013 and its continued growth in the market place. It has experienced a 650% growth in number of agents and now has 50+ locations nationwide. In 2013, it sold 10,800 units with a total settled volume of $2.8 billion.

Since 2011, PenFed Realty has paid out over $5 million in consumer credits and over $3 million in agent bonuses and benefits. It has also seen a 2100% growth in units and a 1300% increase in MRIS market share. In 2012, PenFed Realty was in the top 57 real estate brokerages in the country and moved up to the top 25 in 2013.1

The strength of the brand was further recognized three times by J.D Power and Associates via its awards for: “Highest Overall Satisfaction for First-Time and Repeat Home Buyers, and First-Time Home Sellers among National full service real estate firms.” The strength of PenFed Realty was greatly increased by the recruiting efforts of its managers and staff. Prospective recruits are offered a variety of commission plans, including a 100% plan as well as team plans.

PenFed Realty’s mid-Atlantic region was ranked #9 by Prudential Real Estate in 2012; earning it another year in the Gibraltar Circle. It continues to grow as it recruits top agents to its offices with competitive compensation plans, agent tools, and aggressive training programs.

"While I am excited about our company's impressive growth I am most proud of our amazing sales professionals who continue to deliver consumer centric service beyond excellence to our buyers and sellers,” said Kevin Wiles, president of mid-Atlantic region of PenFed Realty. “We are able to continue to grow because our agents provide our clients with unparalleled value and benefits resulting in 100% satisfaction with every transaction.”

PenFed Realty’s Dallas Ft. Worth, Texas locations experienced success in a market that has greatly increased in value and demand over the past year. Prudential Texas Properties redesigned its website which quadrupled traffic, opened a new branch and up-scaled two others, achieved an “A” rating with two of its largest relocation clients, and created content that is used by major news outlets like San Francisco Chronicle and the Chicago Tribune.

“It’s hard to overstate just how hot the Dallas Fort Worth market is. Home sales have always been more stable than most markets and have only become more valuable and in-demand this past year. Supply is at the lowest it has been in over 20 years. The job and population growth in Texas is far outpacing the rest of the U.S.,” said Rick Wylie, managing broker of Prudential Texas Properties.

PenFed Realty’s Wichita, Kan. locations not only grew their average sales price, sales volume, and sales units; they were able to continue to support their community through a series of fundraising events. Prudential Dinning-Beard, REALTORS® raised almost $10,000 for a local children’s home, $2,800 for the PenFed Foundation, as well as raise money for a variety of other local charities through blood drives, social events, coat drives, and gift giving around the holidays.

“We have the most amazing agents when it comes to community support. Our market has kept them all very busy and it humbles us to see them give their time and open their hearts and pocketbooks to those individuals in need,” said Mona Stein, regional executive vice president of Prudential Dinning-Beard, REALTORS®.

PenFed Realty’s Fayetteville-Fort Bragg, N.C. location saw a nearly 25% increase in sales in 2012-2013 due to steady economic growth in the region. The real estate professionals in this area serve the general population, active duty service members, veterans, and their dependents. The office is uniquely structured in that over 90% of its Realtors® are veterans or dependents of veterans.

“We are excited to serve our entire community and look forward to what 2014 will bring the Fayetteville-Fort Bragg office,” said Eric Anderson, managing broker of PenFed Realty’s Fayetteville-Fort Bragg office.

PenFed Realty’s Destin, Fla. location also experienced a period of growth in 2013. While overall market transactions were up 14% from 2012, the office experienced gains of approximately 30% in closed transaction units. Destin is a resort market that is now seeing upwards of 70% of transactions closing as cash purchases.

“We did so well in 2013 that we were able to open another office in Niceville which has already experienced a great deal of success,” said Royce Mitchell, managing broker of PenFed Realty’s Destin and Niceville locations. “We are looking forward to another fantastic year and anticipate that our average price per transaction will continue in its upward trend.”

PenFed Realty’s San Antonio office has experienced a great deal of growth through its many community outreach events. In 2013, the San Antonio office and agents helped raise over $25,000 for wounded warriors.

“We are excited about all that 2014 has to offer and we are on a good start to achieving this year’s goals,” said Scott Caballero, managing broker of PenFed Realty’s San Antonio location. Scott is one of the elite few who have graduated NAR’s Leadership Academy, which further establishes his ability to lead on a local and national level. There are several agents in his office, which have followed his lead and are serving on local and state real estate committees.

PenFed Realty’s Fort Campbell, Ky. and Clarksville, Tenn. locations exemplify PenFed’s commitment to growing its footprint to better serve our nation’s defenders and the communities in which they live.

1 Data from RealTrends

About Prudential Real Estate and HSF Affiliates LLC

Prudential Real Estate is a part of the HSF Affiliates LLC real estate brokerage family, which includes Real Living Real Estate and the new Berkshire Hathaway HomeServices brand available later in 2013. Prudential Real Estate franchises are independently owned and operated. HSF Affiliates LLC, based in Irvine, Calif., is a joint venture of HomeServices of America and Brookfield Asset Management.

Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential.

About PenFed Realty

PenFed Realty, wholly owned by PenFed (Pentagon Federal Credit Union), is a full-service real estate company with an annual sales volume over $2.8 billion; serving PenFed members as well as the general public. Recognized as a leading real estate company in its service area, it is ranked among the top 25 Prudential affiliates nationwide. Over 1,700 top-notch sales professionals work out of Prudential PenFed Realty’s 50+ offices to provide complete real estate services nationwide.

Prudential PenFed Realty is an affiliate of the Brookfield/Home Service Franchise (Formerly Prudential Real Estate) Residential Property Services network. Its franchises are independently owned and operated. The network provides franchises with numerous benefits, including access to Prudential Real Estate’s Online Seller Advantage® program designed to provide real-time information to sellers in an easy to use system; and Online Buyer Advantage®, enabling consumers to easily search for property in all 50 states and the District of Columbia. Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with more than 1,500 franchise offices and 50,000 sales professionals in the franchise Network as of December 31, 2011.

© 2014 BRER Affiliates LLC. An independently owned and operated broker member of BRER Affiliates LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity. We are proud to be an equal employment opportunity employer: m/f/v/d.

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Miranda Opiela
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