Quote of the Day - It is the nature of all greatness not to be exact.
The Courthouse News Service reports that Oregon real estate sales are very competitive. In a defamation lawsuit filed in Marion County Court in Salem, Oregon, real estate mogul Coldwell Banker Mountain West claims it was damaged by Byron Hendricks, president of a competitor, Prudential Real Estate Professionals. The Salem Statesman-Journal asked Hendricks how much of the local market his company controlled, and he replied in a June 18 article, “We’re probably doing about 33 (percent) or 34 percent. They’re [Coldwell Banker] probably running 24 or 25 percent.” (See Question #4 in the last link.)
In the lawsuit, Plaintiff claims that in the Willamette Valley Multiple Listing Service broker ratings for Salem on June 20, Coldwell Banker actually had “25.35 percent of the volume of sales, year-to-date. Prudential had only 21.17 percent of the sales for that same period of time.” The newspaper reported, "In 2004 in Salem, Coldwell Banker accounted for 28.55 percent of sales and Prudential accounted for 26.27 percent. In Salem and Keizer, Coldwell Banker accounted for 27.89 percent of sales and Prudential accounted for 26.37 percent." The newspaper printed a correction, and it's not a defendant in the suit.
Coldwell Banker demanded more than $1.2 million in damages. Wow. Do you think the dispute between the two real estate companies is about something more than percentages?