apparently, brokers don't just lie about real estate markets, they lie about their own layoffs...
>> Massey Knakal in shrinking mode
Real estate broker’s staff down 26% as firm also pulls rug from Liar’s Ball.
http://www.crainsnewyork.com/apps/pbcs.dll/article?AID=/20081010/FREE/810109973/1058/newsletter11
"Co-founder Paul Massey insists the reductions are not a result of the stagnating real estate market."
except, uh, oh..
"Mr. Massey did concede that the intensifying credit crisis is taking an increasing toll on the business. Last month, the company signed only 20 contracts, down from an average of 30 in each of the previous 14 months. At the peak of the market in 2006 and the first half of 2007, Massey Knakal was signing an average of 50 a month.
“September was really bad,” Mr. Massey said."
[less]
Response by Topper
over 17 years ago
Posts: 1335
Member since: May 2008
Anyone hear what's happening with other brokerages?
Ignored comment.
Unhide
Response by kgg
over 17 years ago
Posts: 404
Member since: Nov 2007
October will be worse. A standstill. A standoff. Somethings got to give.
Ignored comment.
Unhide
Response by dmag2020
over 17 years ago
Posts: 430
Member since: Feb 2007
I would be surprised to see 3 signed contracts in October.
Anyone hear what's happening with other brokerages?
October will be worse. A standstill. A standoff. Somethings got to give.
I would be surprised to see 3 signed contracts in October.
Another sign of issues in the market - this one a Lehman issue - http://curbed.com/archives/2008/10/10/fidi_follies_swig_suspends_sales_at_25_broad.php
I guess they'll all have to become rental brokers...