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PRUDENTIAL FLORIDA REALTY EXPANDS STATE POSITION; EIGHTH LARGEST NATIONWIDE

 PRUDENTIAL FLORIDA REALTY EXPANDS STATE POSITION;
 EIGHTH LARGEST NATIONWIDE
 CLEARWATER, Fla., June 11 /PRNewswire/ -- The Prudential Florida Realty has been ranked the eighth largest real estate services firm in the nation by trade industry newsletter REAL Trends.
 The REAL Trends ranking is based on transaction activity during 1991. The Prudential Florida Realty handled 19,988 transactions during 1991, up 2 percent from 1990. Gross sales volume increased by 5 percent to $2.90 billion, from $2.75 billion.
 The company continues to be Florida's largest independent real estate services company with more than two-and-one-half times the number of transactions as its nearest Florida competitor.
 Jacksonville-based Watson Realty Corp. was the next largest Florida competitor. It placed 24th on the national rankings. Watson handled 7,614 transactions in 1991, a reduction of 24 percent from the previous year.
 The Keyes Company, which was Florida's second-largest brokerage, and the nation's 22nd largest in 1990, was not included on the new list.
 The Prudential Florida Realty increased its market position during 1991 by making aggressive acquisitions and building market share in each of the eight major Florida metropolitan markets it serves.
 "The residential real estate market in Florida is not growing as fast as other parts of the nation and our growth is the result of increased market share," said Richard W. Cope, chairman of The Prudential Florida Realty. "We see slow growth for the remainder of this year, but homeowners are turning to those companies, like us, that have the ability to move properties in this type of market."
 The company's national ranking was down two places from 1990. The REAL Trends list was expanded to include the activities of Coldwell Banker's owned and operated offices, which placed that company at the top of the list. Also, competitors from other regions saw rapid growth during 1991. Burnet Realty, of Minnesota, and Realty Executives of Phoenix, each jumped five places, from ninth and 11th to fourth and sixth, respectively. And The Prudential Preferred Properties, in Maryland, which moved from 13th to seventh, handled only 70 transactions more than The Prudential Florida Realty.
 The Prudential Florida Realty is Florida's largest independent real estate brokerage, with 65 offices throughout the state. More than 2,600 licensed sales associates generated $2.90 billion in sales in 1991. The company has more than 300 employees.
 THE NATION'S 10 LARGEST REAL ESTATE BROKERS
 BASED ON TRANSACTIONS
 Brokerage Company Transactions
 1. Coldwell Banker Residential Brokerage 130,631
 2. Weichert, Realtors 42,883
 3. Long & Foster Real Estate, Inc. 33,307
 4. Burnet Realty Inc. 22,932
 5. Edina Realty 22,069
 6. Realty Executives of Phoenix 20,890
 7. The Prudential Preferred Properties 20,058
 8. The Prudential Florida Realty 19,988
 9. Windmere Real Estate 19,712
 10. Realty One, Inc. 19,662
 FLORIDA'S LARGEST REAL ESTATE BROKERS
 BASED ON TRANSACTIONS
 Brokerage Company Transactions
 1. The Prudential Florida Realty 19,988
 2. Watson Realty Corp. 7,614
 3. Marie Powell & Associates, Inc./BH&G 4,286
 4. Gimelstob Realty, Inc./BH&G 3,875
 5. The Prudential Network Realty 1,256
 6. Century 21 AAIM Realty Group, Inc. 1,091
 7. RE/MAX Realty Group 1,010
 Source: REAL Trends, May 1992
 -0- 6/11/92
 /CONTACT: Linda Burger of The Prudential Florida Realty, 813-442-4111; or Robert Kneeley of Robert Kneeley & Co., 305-493-8220, for The Prudential Florida Realty/ CO: The Prudential Florida Realty ST: Florida IN: SU:


JJ-AW -- FL012 -- 9335 06/11/92 15:07 EDT
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Date:Jun 11, 1992
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