Brenda Pooler

Tuesday, May 5, 2009

Strong and Growing

Here is a recent article published by the Tulsa Business Journal regarding Chinowth & Cohen's strong growth.


Strong and Growing
By Tulsa Business Staff - 4/27/2009


While many in the real estate market seem to be cowering in the face of doom and gloom recession headlines, Sheryl Chinowth seems a bit more confident. And with good reason: Chinowth and Cohen Realtors, the residential and commercial real estate firm she co-owns with her husband, Lee Cohen, finished last year with a 16-percent increase in revenue over 2007 and what Cohen estimates as at least a three-point gain in market share. Furthermore, since opening just four and a half years ago, the firm has expanded its operation from 25 agents to 310, 260 of which are full-time employees. They also have 20 office staff. “We really believe our growth is going to continue,” she said. “It’s like one of our agents told me the other day, the Chinowth and Cohen market is doing fine.”

Knowledge is Profit
Chinowth said the main factor that sets the firm apart is knowledge of the market.
“You have a firm here where both of the owners grew up in real estate families, and both of us have also been top producers,” she said. “Some companies just are run by people who have never been agents themselves, they just don’t have the knowledge of the industry it takes to move ahead.” She and Cohen are trying to expand that knowledge. “Lee and I do research across the country so that hopefully we have a good handle on what’s coming down the road before it gets here,” Chinowth said.

The pair will get a hand in that research now, having been recently inducted into the Leadership Council, a prestigious real estate CEO exchange group. Founded in 1987, the Leadership Council meets twice per year for an idea sharing session and comprehensive review and critique of the host member’s company. “Most of the firms that are in this organization have been around for decades,” Chinowth said. “It says something about us that such a young company has been voted into such an elite group.” Chinowth and Cohen are doing their best to pass that knowledge down to their agents, offering a slew of courses and seminars. “We have two full-time trainers on staff, and we have 52 classes running on a continuing basis,” she said. “We want our people to have access to the latest technology and techniques.”

Mega Marketing
Even more than education, Chinowth and Cohen’s success could be chocked up to tremendous marketing efforts. “We have one of the best PR and marketing staffs in the industry,” Chinowth said. In an effort to stay on the leading technological edge of their industry, she and Cohen have turned to the Web as their marketing front-line. “We have the fastest-growing real estate Web site in the industry,” she said. “We are the only real estate web site with a blog on the front page. Most companies say, ‘Hey, you want to blog, fine, make a blog.’ We want our people all contributing to one blog for two reasons: so they don’t have to write an entry every day — they can be selling instead — and so our customers can read it. They get a flair for what our associates are like, and it keeps people coming back to the Web site.”

The company also shows all of its listings, interspersed with small featurettes on buying, selling and market trends, on a slickly-produced cable and broadband broadcast, publishes its own real estate magazine, and has a kiosk set up in the Woodland Hills Mall next to Starbucks.
“We found that when people walk into the mall, they tend to have a purpose, and usually pass kiosks set next to the entrances,” Chinowth said. “Where we have our information set up, we have sort of a captive audience.”

While these extensive marketing efforts are certainly not cheap — Chinowth wouldn’t reveal how much the company spent on marketing, but said it was “probably more than anyone else” — it achieves its purpose. “We want to have a constant stream of information available to people,” she said. “The less marketing our agents have to do, the more they can be out selling, and the more successful they can be at it.”

Contrary to the mainstream news reports of the real estate markets, Oklahoma real estate solid and still moving higher!

Click to see the Good News of Oklahoma real estate

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Very Well Maintained Home

• 864 sq. ft., 1 bath, 3 bdrm single story "Adorable Bungalow" - MLS® $85,000

Oak Park, Sand Springs  -  Adorable Bungalow with hardwood fllors throughout. New Central heat and air; fenced back yard. Close to schools, shopping and 15 minutes to downtown Tulsa. Walking distance to Charles Page High School and Ninth Grade Center.

Property information

Located in the heart of Green Country in Northeastern Oklahoma, the city of Tulsa prides itself on its growing economy, beautiful recreational and scenic destinations, and cultural attractions. Tulsa is a flourishing metropolitan area that still retains the friendliness and close-knit attitude of a much smaller city. Among the city's many advantages are choices of a variety of schools, businesses, museums, shopping centers, universities and cultural hotspots, making Tulsa a great place to live, work and raise a family.

Recreational destinations are plentiful with access to many lakes, gorgeous parks and garden centers, as well as award-winning golf courses such as Southern Hills and LaFortune Park. Popular museums are the Philbrook Museum of Art, the Tulsa Air & Space Museum, The Tulsa Zoo & Living Museum, The Oklahoma Aquarium, and the Gilcrease Museum. Sports fans can check out Tulsa Drillers baseball, Tulsa Oilers hockey and Tulsa Talons arena football. Tulsa's higher education opportunities abound with the University of Tulsa, Oral Roberts University, OSU-Tulsa and OU-Tulsa campuses, Tulsa Community College, and Tulsa Technology Center.

The revitalization of downtown Tulsa, including the construction of the new BOK Events Center, promises to make the area a fresh destination for shopping, restaurants, and nightlife. Get a taste of local culture at the downtown Tulsa Performing Arts Center, the Tulsa Ballet, the Tulsa Opera, the historic Greenwood Jazz District or the Blue Dome Arts District. And don't forget to explore the dazzling Art Deco buildings and churches throughout the downtown area.

Tulsa's historic past, thriving present and bright future give the community a positive attitude and progressive atmosphere. Whether you're looking for a new place to call home or just a wonderful spot to visit, Tulsa boasts a multitude of destinations and features found nowhere else.  From Welcome To Tulsa.com

Wednesday Night Preliminary Winners:
Swimsuit (tie) - Michelle McCoy, Miss Route 66 and Taylor Treat, Miss Oklahoma State Fair.  Rookie Talent AND Overall Talent - Taylor Byrne, Miss Langston University.  For more information and pictures go to the Miss Oklahoma website!

Relocate America, which offers relocation resources for those on the move, recently selected Tulsa as number 5 on the list of best places to live!   Some of the factors used to make the selection were economic growth, education, employment prospects, air and water quality, crime rate and housing options.

Tulsa is the second largest city in Oklahoma and maintains a low unemployment rate.  Housing in Tulsa has remained affordable and home prices have continued to appreciate each year in contrast to the national market.

Tulsa is also the home to several universities including branches of OU and OSU, the University of Tulsa, Oral Roberts University, Tulsa Techonology Center and Tulsa Community College.  Tulsa has several museums including the Tulsa Air & Space Museum, the Gilcrease Museum, the Philbrook Museum and the Tulsa Zoo & Living Museum.

Freddie Mac reported Thursday, January 17th, that 30-year-fixed-rate mortgages averaged 5.69 percent.  We're three weeks with 30-year mortgages below 6 percent.  We closed 2007 at 6.17 percent and since the beginning of 2008 it has dropped.

Rates on 15-year mortgages dropped to 5.21 percent, down from 5.43 percent last week.

Rates on five-year adjustable-rate mortgages down to 5.40 percent, compared to 5.63 percent last week while rates on one-year ARMs fell to 5.26 percent, down from 5.37 percent last week.

This is the first time in seven years that the 15-year rate has fallen below one-year adjustable-rate mortgages.

A year ago, 30-year mortgages were at 6.23 percent while rates on 15-year mortgages were at 5.98 percent.  Five-year adjustable-rate mortgages averaged 6.04 percent and one-year ARMs were at 5.52 percent this time a year ago.

If you are considering buying a home, now is a great time with a history low on mortgage rates!

Tulsa’s year-to-date average sales price and the median sales price are up more than 5 percent despite a slowdown in total home sales during September, according to the Northeast Oklahoma Real Estate Services multiple listing service data.

“Although the total number of closings in September was about 18 percent below September 2006, sales figures are only 3 percent behind the record-setting pace we experienced in the first nine months of last year,” said Ron Sumner, president of GTAR. “Overall, Tulsa’s housing market remains steady, and we want people to realize that.”

Sumner said GTAR developed the “Good Thing You’re in Tulsa” campaign to communicate this positive news to area residents who may be seeing negative stories about the national housing market. GTAR’s education campaign will continue through next year as GTAR members distribute yard signs, banners and vehicle stickers with the campaign logo in Tulsa and surrounding communities. Information about the campaign and the Tulsa area’s real estate market also is available at www.tulsarealtors.com.

“Homes sales are down in some parts of the country, but the Tulsa area market is strong,” Sumner said. “Our home prices are up, foreclosures are down from 2006, and we’re working to close the gap on the number of year-to-date residential closings.”

An April Money magazine study of the nation’s 100 largest markets ranked

Tulsa second in home appreciation values with a projected 4.3 percent inflation. Even with increasing home values, the city’s average home price of $153,750 ranks far below the national average of $422,343, Sumner said.

The Greater Tulsa Association of Realtors is a not-for-profit professional association dedicated to promoting education, professionalism and ethical standards in order to assist its members to better serve the public and protect the free enterprise system and property rights.