Paul Wells of Barrington Wins Eagle Award from RE/MAX in Recognition of His Bold Business Strategy
Elgin, IL, June 09, 2011 --(PR.com)-- Paul Wells, broker/owner of RE/MAX of Barrington and RE/MAX Now, both located in Barrington, Ill., took home a rare honor when he left the 34th annual awards ceremony held recently by the RE/MAX Northern Illinois real estate network. He carried with him the Eagle Award, which was last presented more than a decade ago.
It is an award that goes to an individual who has contributed significantly to the RE/MAX real estate network by making bold decisions during challenging economic times.
What did Wells do when so many other businesses were downsizing? He employed the opposite strategy, expanding his real estate brokerage by acquiring two competing firms, one in 2009 and a second in 2010. And he did this despite the difficulties facing the local residential real estate market.
The acquisitions have paid solid dividends. Wells now has more than 50 affiliated agents working from two offices. The talent of these real estate professionals has helped the brokerages not only succeed but thrive in today's challenging economy, and they have helped RE/MAX achieve a 36 percent market share in the Barrington area.
While others may view Wells' moves as risky, he saw the acquisitions as steps toward increasing the chances of success for his brokerage business. "I follow Warren Buffet's advice, which is to do what everyone else isn't doing," Wells said. "I saw these moves as opportunities to help our clients gain more exposure for their homes and for our agents to gain more business. If I had waited until the market got stronger, it might have been too late to make this kind of move. Now is a great time to buy."
RE/MAX has been the leader in the northern Illinois real estate market since 1989. The RE/MAX Northern Illinois network consists of 2,300 sales associates and 110 individually owned and operated RE/MAX offices that provide a full range of brokerage services throughout the northern one-third of Illinois. Its www.illinoisproperty.com and www.remax.com websites are leaders in consumer visits among real estate franchise brands. Its mobile search, m.illinoisproperty.com, allows users to conduct real estate searches on any mobile device with Internet access. The northern Illinois network is part of RE/MAX LLC, a global real estate organization with 90,000 sales associates in 83 nations.