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PRODUCTIVITY GAINS BOOST SALES AT PRUDENTIAL FLORIDA REALTY

 CLEARWATER, Fla., July 28 /PRNewswire/ -- Second quarter sales increases at The Prudential Florida Realty indicates that more of the state's real estate buyers and sellers are attracted to the company's comprehensive services, including mortgage origination for residential property, and asset management for income-producing properties.
 For the second quarter of 1993, ended June 30, gross sales volume was $997.2 million, up 18 percent from $846.7 million for the same quarter of 1992. The number of units sold increased by 20 percent, to 6,911 from 5,751. Listings secured were down slightly, an indication that excess inventories are being sold.
 "We've been operating with a balanced real estate market that favors neither buyers nor sellers," said Richard W. Cope, chairman and chief executive officer of The Prudential Florida Realty, the state's largest independent real estate services company, and the seventh largest in the nation. "Buyers recognize the value of Florida real estate, and property that is priced right is selling."
 That balanced market favors companies with the best service, Cope said. The Prudential Florida Realty acquired real estate brokerages in Orlando, Palm Beach County and Pinellas County during the second quarter, and has successfully opened its mortgage orientation joint venture to all of its offices statewide.
 "We're providing consistently better services to buyers and sellers of Florida real estate, and that continues to be an attraction for other real estate brokers and sales associates to join us," Cope said.
 Through the first half of 1993, the company is on a record-breaking pace. Gross sales volume is $1.86 billion, up 11 percent from last year, while the number of units sold has increased by more than percent, to 12,985. Listings secured is down by almost 5 percent.
 The Prudential Florida Realty is Florida's largest independent real estate brokerage, with 65 offices throughout the state. More than 2,650 licensed sales associates generated $3.11 billion in sales in 1992. The company has more than 300 employees.
 -0- 7/28/93
 /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-JB -- FL006 -- 6703 07/28/93 10:12 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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