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PRUDENTIAL FLORIDA REALTY SETS RECORD WITH $3.1 BILLION GROSS SALES

 CLEARWATER, Fla., Jan. 20 /PRNewswire/ -- The state's largest independent real estate services company enjoyed a record year for home sales activity during 1992.
 The Prudential Florida Realty posted gross sales volume of $3.1 billion during 1992, its best year ever and an improvement of 10 percent over $2.8 billion for 1991.
 "We benefited from lower interest rates, which brought more buyers to the market, and also from our determination to make the process of buying and selling real estate in Florida easier for our clients," said Richard W. Cope, chairman and chief executive officer of The Prudential Florida Realty.
 During 1992, The Prudential Florida Realty handled 22,321 unit sales, an increase of 14.4 percent from 19,509 during 1991. During the year the company launched a mortgage origination joint venture that was rolled out statewide. The company's goal is to provide integrated real estate services to home buyers throughout the state.
 Most of the sales growth came from the existing network of sales associates, Cope said, rather than from acquisition. In total, the company acquired three real estate brokerage firms during 1992, compared with eight acquisitions during 1991.
 "We focused on increased productivity per sales associate, and attracting buyers from throughout the world to Florida properties," Cope said.
 An important sales emphasis for the company has been international buyers, which account for approximately 15 percent of the company's statewide sales. More than 260 sales associates -- 10 percent of the total force -- earned their International Marketing Specialist designation by completing a rigorous training program.
 Increased commercial activity, including the PFR Asset Management subsidiary, also boosted sales volume.
 The Prudential Florida Realty is Florida's largest independent real estate services company. More than 2,650 sales associates and 300 employees operate from 65 offices statewide.
 -0- 1/20/93
 /CONTACT: Linda Burger of The Prudential Florida Realty, 813-442-4111; or Robert Kneeley of Robert Kneeley & Co., 305-739-7121, or evenings, 305-583-9282, for The Prudential Florida Realty/


CO: The Prudential Florida Realty ST: Florida IN: SU:

AW -- FL001 -- 6746 01/20/93 09:12 EST
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Publication:PR Newswire
Date:Jan 20, 1993
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