BrokerageIndustry News

Surviving Las Vegas real estate downturn

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: The following Q-and-A interview with Forrest Barbee, a broker in Nevada, is a part of the "To Be a Broker" editorial project that highlights broker challenges and strategies for success. Click here for more info. Name: Forrest Barbee Years as a broker: 3.5 Number of sales agents who you supervise: 1,100 Years working in the real estate industry: 7 Q: What is the biggest change you have made to the brokerage in the past year, and what prompted this change? How has this change impacted the bottom line, if at all? What has changed about your service offering in the past year? A: With the declining market, particularly in terms of market prices, we've had to shrink the brokerage department, reduce staff, and what we've really had to do is take advantage of technology so we could do more work with fewer people. Volume of units has been going up, which is an interesting dilemma. We have made transactions paperless for our agents. We really w...