Prudential to Enter City Real Estate Market

By Edsall, Christopher | THE JOURNAL RECORD, February 9, 1989 | Go to article overview

Prudential to Enter City Real Estate Market


Edsall, Christopher, THE JOURNAL RECORD


Oklahoma City and Tulsa are about to be invaded by franchises of Prudential Real Estate Affiliates.

The national firm, a subsidiary of the giant Prudential Insurance Co. of America, has decided to enter the two state markets as early as next month, an official said Wednesday.

"It's a question of `when,' not `if,' " said Walt Bayless, vice-president and regional director of Prudential Real Estate Affiliates' central region.

"Initially, we'd like to be in the 15 to 20 percent market share range" in Oklahoma City and Tulsa, Bayless said. "That's our general plan for any area. That percentage produces synergistic benefits for our brokers."

Individual franchisees may be chosen soon, Bayless said: "I'd like to see us make a marketing decision by the third week of March."

Franchising by Prudential Real Estate Affiliates in the Oklahoma City area market would be the second entry by a national residential real estate firm in the last four months.

In November, Coldwell Banker Residential Affiliates Inc. sold a franchise to Marolyn Pryor & Associates, creating Coldwell Banker Marolyn Pryor Realtors Inc. Coldwell Banker also aims to capture 20 percent of the Oklahoma City market.

Prudential Insurance is "the largest non-bank corporation" in the United States, Bayless said.

A 114-year-old Newark, N.J., company started 1989 with $17.8 billion in premiums. It entered real estate in May 1988 after about a year of planning, via a $40 million investment by Prudential Real Estate Affiliates, one of its 175 divisions. Other divisions include Prudential-Bache Securities Inc. and a home mortgage division.

"Our goal for the end of this year is 1,000 (franchise) offices," Bayless said. The current total is "well over 200," he said.

"We will probably be in six or seven more states by the end of 1989," Bayless said.

"Quite a few" real estate companies in Oklahoma City and Tulsa are candidates as Prudential franchisees, he said, following completion of a survey of the two markets. The exact number and names of those possible franchisees were not disclosed.

Prudential Real Estate Affiliates also used input from "quite a few" Oklahoma City and Tulsa area lending institutions.

"That is part of our survey process," he said.

Survey parameters for Oklahoma City were area real estate activity and market trends in the previous 18 months, interest rates and new business activity, input from the Oklahoma City Board of Realtors, Oklahoma City Chamber of Commerce data on economic growth, and home buying and building forecasts.

Bayless said each franchisee would bear the name Prudential, followed by the company name and wording identifying its real estate capacity. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Prudential to Enter City Real Estate Market
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.