| June 1,
2008 | Staff
Writer from St. Petersburg Times
Swarms of new Realtors emerged
during the boom of 2005 and 2006, eager to drop their
hooks into the stocked pond that was real estate
in the Tampa Bay area. Then came 2007, a slow year
when even many seasoned Realtors took it in the gills.
But
according to Realtor-by-Realtor sales totals compiled
by Tarpon Springs publisher Fred Kenst, some of the
area's perennial leaders found ways to sell homes
last year. Not on the scale of the boom years, mind
you. No one knows that better than Kenst, who saw
subscriptions to his Kenst Report fall 40 percent
the past six months. Still, 147 Realtors across Pinellas
and Hillsborough counties recorded commissioned sales
of at least $10-million in 2007.
How much income does
$10-million in sales yield? That depends on the Realtor's
business model. An agent who charges a full 3 percent
commission would gross $300,000, with a hefty chunk
of that going toward rent, staff and overhead. The
bay area's number 1 seller in 2007 - Tampa's Rod
White, whose company provides bulk-rate listing services
to new-home communities - says his commissions averaged
well below 1 percent last year.
To the winners of
this year's awards, we offer our congratulations
- and, in one case, our condolences.
TO FINISH IN
THE TOP 20 among the bay area's nearly 10,000 Realtors,
you have to sell a lot of homes. That is, unless
you're Frank Malowany, and you're selling waterfront
mansions and penthouse condos for an average price
of $2.1-million.
The son of a New Jersey builder,
Malowany runs a lean operation for a major player.
Instead of staff, the square-jawed 53-year-old invests
in the high-end advertising, including full-page
ads in luxury magazines like Unique Homes and
duPont Registry as well as listings in the
New York Times and Wall Street Journal.
Malowany tracks
the weak dollar, encouraging him to boost his international
marketing. He says St. Petersburg's waterfront remains
a bargain compared with properties in California,
Naples and elsewhere.
Malowany's Key Stat - Highest
average sale price, 2007.
Malowany Quote - "I've
never gone after an expired listing. I've never knocked
on a door. It's basically reputation advertising
and referrals from former clients."
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