Ed Prodehl: President/owner at Coldwell Banker Honig-Bell
Name three people/businesses that you are watching in 2011.
I am religiously watching the government and keeping an eye on any legislations that could impact the real estate industry. I am also watching the banking industry to stay abreast of any changes within that industry as well. Lastly, I am watching my own business very, very carefully. The worst thing any businessman can do is take his eye off of his own business. When you do that, bad things will happen.
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What plans do you have for your own business in 2011? My plans for 2011 are to maintain and strengthen the company that I presently have. I will always review and consider growth opportunities, but improving my present firm, any way possible, is my top priority.
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Where will the real estate opportunities be in 2011? I think real estate opportunities will be available to the entire spectrum of buyers, sellers and also companies that want to expand and grow. Buyers will have excellent rates and terrific inventory to choose from. Sellers may not realize top dollar when they sell, but they will more than make up when they purchase and strong companies will be able to expand and grow by absorbing weaker sisters.
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How many people do you plan to hire in 2011? I would like to say 10, but probably only two to four.
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Is there anything going on in the industry that you would like to change? If there is anything that I would change, it would be the lending industry. I understand that guidelines were too lenient in the past, but now the guidelines are ridiculous at best. The lending industry has gone from one extreme to another, from lending to anyone in the past to virtually no one now. Knee jerk reactions are never good, a happy median between the two extremes would be ideal.
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Ed Prodehl is the president/owner at Coldwell Banker Honig-Bell. He can be reached at 815.744.1000, or by e-mail at EProdehl@aol.com.