Bill Coleman returns to Prudential
It would be hard to quantify the influence of Bill Coleman on the growth of Park City since he moved here in 1971. His Coleman Land Company became the area’s Prudential brokerage and had a in marketing some of the county’s most important developments.
In 2001, he sold his stake in Prudential and began pursuing other projects. This month Prudential Utah Real Estate announced his return to the company to head up its development advisory group.
Development sales and marketing has always been one of Coleman’s specialties. The new head of Prudential Utah Real Estate, Steve Roney, has expertise in nearly every other area.
Roney took over from Dougan Jones last November. He built his career in corporate relocation services everything involved in helping employees of a company relocate. After selling, he began a second career specializing in Multiple Listing Service technology platforms.
As an expert in real estate brokerage operations and technology, Roney said he realized before coming to Park City that he’d need to recruit someone for development sales expertise.
"I couldn’t be luckier to have someone like Bill helping me," he said. "He’s like ‘chairman emeritus’ of Prudential so many great agents started with him."
A brokerage like Prudential can’t do without that expertise, Roney explained.
When landowners decide to build something, they seek the advice of real estate agents on what will sell, he said. It isn’t uncommon for blueprints to be rolled out for agents to critique before anything is built.
That experience is invaluable to developers, he said.
Coleman added that good agents need to stay involved with developments through the entire life of the neighborhood. If a brokerage helps sell units when they’re brand new and then walks away, the neighborhood will begin to age.
Homes and condominiums in Deer Valley, for example, need to be kept viable and fresh in the minds of consumers, Coleman said. In addition to working with developers, Coleman’s advisory group will provide services to homeowner associations so keep existing units attractive to buyers.
Consumer tastes change, and expert agents know what features are most in demand. How many bedrooms new units should have, and what kinds of cupboards and countertops should be in renovated kitchens are things agents and sometimes only agents have a handle on.
"Whether it’s a new property or an existing one, what is its ‘separateness’?" Coleman said. "What makes it unique?"
Having this knowledge to share isn’t just important to the health of Prudential, it’s important to the health of Park City, Coleman added. Roney wants to make Prudential a leader in the economic recovery of the area.
Summit County businesses rely on the health of key industries like real estate and skiing. Often their interests are intertwined. For example, Deer Valley Resort couldn’t exist without the real estate developments, Coleman said. Effectively marketing real estate developments is crucial to the economic health of the entire area, he added.
Coleman and Roney both agreed the time is now to work toward recovery.
"We’ve made the final bounce off the bottom Buyers aren’t waiting anymore," he said. "We think the funeral is over and we need to get on with it."
Prudential holds half the market share in Park City, Roney said, and that only increased during the first quarter of 2010. But Prudential is working to expand its footprint throughout northern Utah. Offices are being opened or renovated from Ogden to Draper, and three new offices will open in Park City this summer alone: two on Main Street and one in Redstone, he said.
The company is investing in new technology to support agents’ research and marketing power, Roney added.
"We see Prudential being a stabilizing factor in the community because of the depth of knowledge," Coleman said.
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