I was surprised to learn today that a major player in the Atlanta real estate market is no more today. Out of respect for the brokers and agents I am not naming the company. They were one of many real estate offices in Atlanta and nationally caught up in this current downturn that have to make tough choices. I expect many real estate companies to follow suit by the years end. This particular company was a major player in the market in Cobb County with two offices and over 157 agents showing up on the MLS roster. Over the years the company and their offices won loads of awards for service and production. Whether or not the company will change names, cease to exist or morph into another franchise remains to be seen, but one thing is for sure. The landscape in Atlanta real estate is changing rapidly. Fewer sales, too many foreclosures, fewer agents receiving full commissions means someones bills are not being paid. Brokers, closing attornies, home inspectors, appraisers are all in this boat together, and I am sure they are all feeling the pinch. The sad thing is that as independent sub-contractors don't collect unemployment. We do not show up in the ranks of the unemployed, and we do not show up as a statistic of the ailing economy. However we are in the front line trenches in this battle. News like this is always sobering.
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