Real Estate Veteran Bob Lamb Opens Exit Realty Franchise

Local real estate veteran Bob Lamb recently opened an independently owned and operated franchise of Canada-based Exit Realty in the Ralston building at 1202 SE Broad St., on the corner of Middle Tennessee Boulevard and Southeast Broad Street, representing the second location in Rutherford County for the Canada-based company.

"After 34 years in the business, purchasing a franchise for Exit Realty was a unique opportunity that was available," Lamb said.

Previously, Lamb worked for Bob Parks Realty for 23 years and was managing broker of the company's South Rutherford Boulevard office. Lamb also serves as chairman of the Murfreesboro Planning Commission.

Some 28 agents from the Bob Parks office joined Lamb in the new venture giving Lamb an "excellent start," Lamb said.

Real estate offices continue to open in Rutherford County and existing offices continue to add agents despite a softening housing market.

"There are many new franchises, that are recognizing the strength and diversity in Middle Tennessee and bringing their business plan and services to the area, that have been successful elsewhere for a long time," said Candy Roberts, executive vice president of the Middle Tennessee Association of Realtors. "Our market is still very active and very strong, though national media would cause the consumer to think otherwise." New real estate companies will continue to form and enter the market as new business models are created, she said.

Lamb admitted the real estate market is down 10 percent from where it was last year, but said some real estate agents are having their best sales year ever.

And Murfreesboro is continuing to grow especially in retail space, he said.

Homes sales in August dropped 26.4 percent from the same month last year, according to data collected by the Middle Tennessee Association of Realtors.

Roberts said major markets are seeing most of the market slowdown due to a natural decline in sales after record highs and a decrease in sub-prime loan products that were allowing unqualified buyers to purchase homes.

"In Rutherford County, our days-on-market continues to average 60 to 65 days, meaning some close faster than two months, and others take longer to close," she said. "Our sales volume has dropped some, however, we spiked closed sales in July, which is not usual. The earlier school openings and the incredibly hot temperatures, may have contributed to the unusual activity in July and the lower activity in August." Steven Dotson and partners Larry Gilliland and James Yates launched Red Realty in August and has been actively recruiting agents.

"We haven't stopped," said Dotson, Red Realty president. "We've been very busy with seasoned agents contacting us to find out more about Red Realty. We're finding that what we believed is true: professional real estate agents are hungry for a real estate company that is different from traditional real estate companies. And from a team atmosphere to revenue sharing, Red Realty is different." Red Realty has signed 20 agents.

While Exit Realty isn't well known in the local market, Lamb said it will be soon. Exit Realty has been in the Tennessee market for two and half years and in Murfreesboro for a few months.

Another Exit Realty office is located at 2656 Rideout Lane. Lois Brown is the broker of record.

Lamb said he was attracted to the franchise for its unique business model, training opportunities and agent benefits.

"It was the most innovative real estate franchise available," he said.

Lamb was most impressed with Exit Realty International offering residuals to agents who sponsor or mentor other agents. Agents continue to receive these residuals after retirement and death.

Lamb said his real estate office can compete in the real estate market because of its experienced agents.

"It is all about the agents," he said. "We have an excellent group of professional and experienced agents." Most people do business with a particular real estate company because of the agent, Lamb said.

"It is about customer services and personal relationships," he said.

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