Laura Derrick, a real estate agent for 23 years, was named 2011 Central Carolina Realtors Association Realtor of the Year this month.
Derrick, a former teacher, is a midtown sales associate with Coldwell Banker United, Realtors, and is president of the Central Carolina Realtors Association. The Columbia native and Clemson University graduate recently talked to The State about the honor and the industry.
What does the honor mean to you?
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It is a tremendous honor to be recognized by my peers. … Achieving this award has been a lifelong career goal of mine, and I am extremely excited.
We all know real estate and housing has had a rough run the past several years in Columbia and elsewhere. What has it been like for you and those you know in the business?
It has been both challenging and difficult to say the least. Many of my friends and co-workers are no longer in the business. In fact, we have lost over 35 percent of the sales associates in the Consolidated Multiple Listing Service since 2007.
Also, according to CMLS, the average closing per agent is less than 3 per year. I feel very fortunate to have exceeded that number. In 2011, there were 6,437 real estate closings in the CMLS (Greater Columbia area). In 2010, which had previously been the worst year, there were 7,219 closings. By comparison, in 2006 there were 12,256 closings.
Comparing the volume of 2006, which was $2.08 billion, with 2011’s volume of $1.05 billion, there was a more than 50 percent reduction.
The year 2011 ended on what some see as an optimistic note, with signs of stability sprouting in some aspects of home sales. What do you see for real estate’s future in the Palmetto State?
I remain optimistic about the future of real estate in South Carolina. Phones are ringing, contracts are being written – all indicators of our market turning around.
I’ll continue to keep working harder than ever. However, sellers need to understand that if they purchased or refinanced between 2005-2008, their appraisal may not accurately reflect the current value of their home. (As a result), there has never been a more important time, for a buyer or a seller, to hire a full-time successful real estate professional.
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