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LOCAL REAL ESTATE BROKER BUYS ALL FOUR COLDWELL BANKER OFFICES IN MONTGOMERY COUNTY

 Toby Rhodes' Purchase of County's Coldwell Banker Attracts
 No. 1, No. 3 and Other Top-Producing Agents
 with Over $100 Million in Combined Sales
 Coldwell Banker Aims for Top Market Share in County
 With Rhodes' New `Hands-On, Locally-Owned' Realty Pros., Ltd.
 BETHESDA, Md., July 23 /PRNewswire/ -- Long-time Montgomery County real estate broker Toby K. Rhodes today announced his purchase of all four Coldwell Banker real estate offices in Montgomery County.
 Earlier this week, Rhodes resigned from Weichert-Shannon & Luchs where he was vice president and district manager while overseeing six sales offices in Montgomery County and one in Northwest Washington.
 Rhodes has bought all four of Coldwell Banker's sites in Montgomery County located in Bethesda, Potomac Village, Gaithersburg and Wheaton/Silver Spring, Md. Rhodes will serve as president of the re-named Coldwell Banker Realty Pros., Ltd.
 The local purchase of the Coldwell Banker offices drew swift reaction in the county's real estate business community as numerous top- producing agents with between $100-$150 million in combined sales this year left their current companies this week to join Rhodes.
 For instance, following Rhodes to Coldwell Banker are the number one and number three real estate agents in Montgomery County in 1992, Marsha Schuman and Jane Fairweather, both formerly with Weichert-Shannon & Luchs.
 Schuman, who has been the top county sales agent over the past three years, sold $27 million in 1992 while Fairweather was number three with $17 million in sales last year. The number one agent in Bethesda, Fairweather has already sold $15 million this year. Schuman will join the Potomac Village staff, and Fairweather will be based out of the Bethesda office.
 Rhodes said that his ability to attract experienced and successful sales agents to Coldwell Banker has brought an immediate dividend of more than $60 million in sales transferred to his Potomac Village office and another $50 million to the Bethesda branch.
 Coldwell Banker had only 2 percent of the share of home sales in Montgomery County at the time of Rhodes' purchase. Rhodes' goal for the next month is to boost the share to 6 percent while aiming for 10 percent of the county's market in one year.
 "My mission is to make Coldwell Banker number one in Montgomery County by creating a work environment that will attract and keep the most experienced and the best and brightest sales talent," Rhodes said. "I am going to spend the next 90 days on the street recruiting the very best sales talent in the area."
 Rhodes originally started in local real estate in 1977 with Panarama Real Estate where he first gained a reputation as an energetic and effective property manager and seller before moving to Shannon & Luchs in 1982.
 "I come from the grassroots of the real estate business in Montgomery County, so I am especially sensitive to the needs of sales agents," Rhodes said. "I want to bring fun back into real estate because the happier the agent, the more productive the agent. And, the happier the agent, the happier the consumer."
 In recognition of his desire to foster a work atmosphere that encourages and rewards professionalism and productivity, Rhodes officials established the business as Coldwell Banker Reality Pros., Ltd.
 "There's a leadership vacuum that has alienated many in real estate sales and has hurt our market in general," Rhodes said. "Real estate agents prefer to work for a locally owned and operated company that is run with responsive, hands-on leadership. As professionals, they want to thrive and grow in a work environment that promotes a `can-do' attitude. That's what I have already begun to do at the new Coldwell Banker," Rhodes added.
 -0- 7/23/93
 /CONTACT: Bill Bronrott, 301-652-6016, or Toby Rhodes or Pam Lubel, 301-654-3222, all for Coldwell Banker Reality Pros., Ltd./


CO: Coldwell Banker Reality Pros., Ltd. ST: Maryland IN: FIN SU:

DC-TW -- DC025 -- 5200 07/23/93 13:53 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
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