The Future is Bright - Response to the Sarasota Herald Tribune
On August 23 the Sarasota Herald-Tribune published a story about SKY Sotheby’s International Realty. As company president, I felt the need to respond.
I think most will agree that today’s weakened economy has fostered a rocky environment for businesses in general – especially those related to the real estate industry. As a result, many organizations are faced with operational challenges and tough decisions. Our firm is no exception; and recently, we’ve experienced our fair share.
However, unlike what this article implies, I believe the future of SKY Sotheby’s International Realty is bright – not “dimming.” We continue to perform despite today’s difficult market. In fact, since our start in 2004, our sales have increased each year and our closed sales have increased 50% from 2006 to 2007. In addition, listings and sales in 2008 have increased 20% over last year.
Most importantly, we continue to focus on our clients – an integral part of our company mission. We spend more than two times the industry average on marketing for the clients that we represent. This commitment to marketing and selling properties in a dynamically changing environment calls for us to constantly evaluate our marketing strategies.
Our firm was recently faced with a choice: continue to maintain our current level of spending on behalf of our clients or to reduce this level, thereby compromising our service offerings. We decided to stay the course and maintain the current level of spending on behalf of our sellers.
To make this possible, along with reinvesting in our firm’s future growth, our entire management team took pay cuts. In addition, we asked our sales associates – who also have an ownership stake in our firm – to take reductions to their compensation. The majority of our sales associates agreed with this decision, pleased to contribute to the company’s overall success.
We work hard to actively align ourselves with sales associates who want to be partners in our firm and are proud of their professionalism, expertise and individual talents. It was disappointing that a few of our sales associates decided to leave. Regardless, I do respect their decision and our entire team wishes them the best in their future endeavors.
Moving forward, I believe we will continue to see a gradual recovery of the Sarasota market and I am confident that there are many great things in store for our community, our clients and our firm. Now, more than ever, it is important for local businesses and community leaders to support each other. By working together, we can promote a positive environment for area businesses to grow and succeed.
Hi Chad,
I’m glad the article is behind us! I think it’s a shame that the paper felt it was newsworthy! I think that anyone who knows business will realize that these are hurdles that all businesses face from time to time and, especially in a bad market/economy. This will pass and, I think you’re doing a great job! See you on Tuesday!
Good Morning Chad,
Thank you for your voice message moments ago. You inspire us all and we appreciate all your efforts in working through the issues presented at this time.
You motivate us all so keep us going Chad to the comtinued success in the company you started!! The SKY has no limits!
Thanks Chad for everything! Please let me know how I can help in any way!
Best,
Sharon Chiodi
Good evening, Chad + Michelle…just wanted you to know that we have been dealing with these kinds of things about todayss article and wanted you to know our responses,,,we are standing tall and firm behind our Company…I will forward you our response from another client on Casey Key who we WILL win over….please let us know how we can be of further assistance…
Chad and Michelle,
We know it hurts to see people who were once part of the Sky family airing their grievances in public. Just know that Bob and I support you both and realize that this is no longer 2004. There isn’t a business in Southwest Florida that hasn’t had to make similar changes, including our competitors. If we all stay the course, we will emerge from this stronger and healthier than ever. This, too, shall pass.
I support you 100 percent.
I just wanted to let you know that we are behind you.
Chad-
I wanted to send you this email to reinforce that I am behind you 100%. I cannot imagine myself at any other real estate company. Your vision in our mission statement, to raise the public’s perception of the real estate professional, plays out in everything you do for our clients. In a tough economic time, while other companies are closing or merging, you have kept moving forward with innovative ideas, never losing sight of how we can best serve our clients. All the tough financial decisions that had to be made are not going to please everyone, especially when it hits the pocketbook. There are a few that have been less than kind in their parting, since people do and justify what is best for themselves.
Your grace under pressure in the past week has shown your true character as a leader. The people who share your vision of a different kind of real estate company support you, we see the bigger picture as partners in the company. The most important thing for you to remember is to “stick with the plan.” Your global vision, transparency and down-to-Earth good sense continues to reinforce why I am a Sky Sotheby’s agent, with you as its president.
In the 21 months that I have been associated with our company, I am continually amazed that the Sotheby’s International Realty brand is like no other. You know at first I was not completely sold on its strength, having worked with other brands throughout my years in real estate. I must admit, I was soon convinced. My clients also enjoy services that I was not able to provide at other companies. My clients have an entire company that specializes in a luxury product, and I work in an office with full time professionals. Owners of such properties are fortunate to have a company right here in Sarasota that can showcase their properties to other offices of the same level across the world, not as just a membership in an association, or a logo in an ad. I love that a Sotheby’s sign in Sarasota is the same as a Sotheby’s sign in Toronto, Paris, Hamburg and Geneva. Meeting fellow agents at our global networking events makes doing business internationally easy and enjoyable, and I appreciate the continuity that our foreign clients enjoy when they come to Sarasota. Our blue Sotheby’s International Realty sign is a familiar sight to them, making them feel right at home in a foreign country, and forming a bond of trust with their agent from the very beginning. I am so proud to be a Sky Sotheby’s International Realty representative.
I am excited to see the future unfold for us.
Warmly,
Judie
Subject: editorial
Your response to the recent article was perfect ….non emotional, non accusatory, not defensive, not “ruffled”, and in charge … simple and clear ….. It is what it is …I have no doubt that you will deal with the current times the way you need to, and in the end, be just fine or better than fine!
Gigi Silverberg
Rooks - Morris Real Estate
Excellent response!
Perfect timing I intend to use in my Monday morning mailing. My full support goes to you and this powerful team.
Hi Chad,
My son CJ just returned from overseas and read the news article. His response was that it looks like SKY is hard at work! He knows that if we we’re not doing business; we’re not a firm of interest, no one would care about this “somewhat common” temporary challenge we faced. If they were not all so intimidated by you and SKY there never would have been an article.
The one thing that did “tick me off” was when the article said there was some customary way in which companies handle listings when agents depart. The on standard is that there is no standard on the release of listings! Any broker will tell you it all depends on the sellers, the agent/company relationship, and the situation. That statement was far from accurate!
As for the rest of it, any intelligent business person knows that stuff happens.
I am at an Open House and having good traffic on Longboat! Have a great day
Subject: Fabulous Column
What a strong response to Saturday’s article!
Hi Chad:
There are people in this world who do not like to see someone, other than themselves, become successful. You are a target because you have been too successful. I’m sure your competition was most pleased with the article but the people who are your friends will tell you…..don’t let the bastards get you down. I just wanted you to know that I’m sending you lots of positive good wishes. Take care, Donna
Donna L. Moore
Gulf to Bay Sotheby’s International Realty
We will remain supportive and continue to communicate with the SHT in the same manner that we have thus far. We do not comment on rumors in the marketplace nor do we share financial information regarding our affiliates.
I am sure that these displays of loyalty and confidence are very appreciated at this time. We believe in you and what you are continuing to build. I respect the moves you have made. Take care!
Mike Good , President & CEO Sotheby’s International Realty Affiliates, Inc.
Chad,
I just wanted to applaud you for your guest editorial response and send you a pat on the back for being such an outstanding guy.
Gail Shane
Neal Communities
Chad
As Sky clients I just wanted to say what a great response you made to the article. In my previous career I was a media manager for a British company and I think the reply was spot-on.
The fact the article appeared shows that Sky is doing its job well - setting new standards in the real estate market and shaking a few trees along the way.
Nice work!
Mark Sharman
Perfect Neighbors
It is good to see such a positive stance from you and from your team. As I am sure you know we are there for you too..Go Sky!!!