The company posted $120.2 million on 356 sales for an average $338,000 per transaction in 2003--a 41% increase over $85 million on 282 closings for an average $301,418 per deal. Her 2001 volume was $61.4 million. Vance is shooting for production of about $140 million in 2004.
"Our projections for 2004 are based on optimum conditions," she says. "Anything significant on either the world or domestic fronts that would negatively impact the economy would cause those projections to change. But for right now, we are positioning ourselves to have a very big year."
A flurry of closings in the final quarter of 2003 helped put the company over the $100-million sales level for the first time, says Vance, a real estate professional for 20 years. Her group closed the October-December period with $29.6 million in volume on 122 closings for an average of $242,623 per transaction.
The fourth-quarter volume represented a 26% increase over the $23.5 million logged in the same 2002 quarter. A $30-million land sale in August also helped boost production figures, the broker says.
In her firm's formative years, the brokerage was grossing an average $8 million to $9 million per year. Vance doesn't do much selling herself these days. "I mainly teach and coach agents," she says.
Vance projects her commercial department will help the firm reach its record target this year. "Land and lot sales seem to be on the rise, as many locals are investing now in country estate property of five and 10-acre parcels, and developers are earnestly seeking land," she tells GlobeSt.com. "We are still experiencing a lot of relocation to the area and with that, more commercial establishments are following."
Vance began her commercial real estate career in the early 1980s with local entrepreneur Charlie Emerson's legendary Emerson Realty Group which had produced some of the area's biggest sales hitters. She also worked later for Spectrum Realty Co. and Re/Max and did independent consulting work for ABD Development Co. and local developer Paul Curtis.
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