SAN DIEGO -- An industry veteran with more than 35 years of real estate experience, Rick Hoffman has worked through several housing market cycles and is no stranger to the challenges and adjustments brokers face during housing downturns.
As president and chief operating officer of NRT LLC's Coldwell Banker Residential Brokerage in the San Diego, Calif., area, Hoffman -- along with other real estate managers -- has coped with the current housing market and economy by adjusting the company's operating model.
"To me, the downturn was probably a big positive. It caused me to operate more efficiently and be more cost-conscious," Hoffman said. "The marketplace has required that we (brokers) make decisive moves."