About a week ago, five real estate agents became owner/ partners of “Century 21 - A Better Way” after overcoming obstacles that delayed settlement for a month.

In October, Vincent Mellott, Bev Lehman, Les Welsh, Jack Maddox and Walter “Biff” Bond had arrived at “Century 21 Associates Coon & Co.” at 398 E. High St., Carlisle, expecting to close their deal at the end of October.

Getting into compliance with recently enacted state real estate legislation, however, slowed down that plan.

“We had to have an escrow account,” says Maddox. “How can we have an escrow account when we have no money to put into escrow? We had to do that.”

The agents encountered other unanticipated — yet surmountable delays — as well.

Because of the corporate name change, the state viewed “Century 21 - A Better Way” as a new legal entity, so an inspection by the Pennsylvania Real Estate Commission had to be scheduled. Licenses had to be properly displayed. The inspector also needed to see office space consistent with state standards for real estate, including a private conference room.

In addition to complying with state regulations, Mellott notes, “We had to bring the business into compliance as a franchise with Century 21, too. We had to be issued a new franchise agreement.”

With all the obstacles resolved, “Century 21 - A Better Way” opened its doors for business on Dec.
1.Mutual trust

The energy that gives the group its cohesiveness in the face of bureaucratic adversity appears to be a positive attitude based on mutual trust. These are not just five people of diverse background who sell houses: They are a functioning corporate unit whose human assets include “different abilities that we can draw on.”

This pooling of interests came about through working with each other and observing each other’s levels of honesty, work ethic and willingness to help both themselves and others.

Speaking of their formative years in an independent local real estate company, Lehman says, “When I had questions, it was one of these four that I could go to, and I could trust to do it correctly.”

Maddox recalls, “Whenever one of us was out, the other would cover and you could be sure that business was going to be the way you left it.”

He says the five came to experience sort of a “synergistic relationship.”

Welsh agrees. “Trust is probably the most important thing,” he says of the group.

Mellott is the one of the five whose background is primarily connected with real estate. He brings a broker’s license to the company.

The other four have professional backgrounds that are people-oriented.

Lehman is very good with the public that she has been dealing with in her beauty salon for 19 years. “I wanted to be able to help the (people I talk to in my beauty salon) with their homes, also.”

She also knows certain business aspects of the company, like how to keep books.

Bond will be the office manager. “Some of my strength comes from being in industry for 29 years … working in purchasing and negotiating contracts with a Fortune 500 company in Mount Holly.”

Welsh has been in construction and construction sales for about 25 years. He offers several strong advantages to the company. His construction contacts will be of use for renovation in real estate investment deals. His opinion is invaluable, says one of his partners, “when it comes to getting an opinion on how a house is put together.”

Maddox taught business education in Carlisle High School for 20 years, and has another 13 in with a public school district.

Advantages

There is more incentive than the human factor for the five becoming a group. In becoming an independently owned franchise, “Century 21 - A Better way” has the contacts of an international real estate company at its disposal. Century 21 offers other advantages as well, such as sales training.

“We were thrilled to find out upon inquiring that this particular office might be for sale,” says Mellott.

Maddox wrote the first commission check Tuesday, adding this is not particularly significant for the new company. “All the deals take a long period of time to work through from signing the contract to closing. This is a deal that was written probably before we came over here.”

Dick Coon, the previous owner who also has a broker’s license, and about 10 licensed real estate agents of the former company are staying on as part of the new entity.

“Century 21 n A Better Way” deals in houses, land, farms, commercial properties, mobile homes, and real estate investment.

For more information, call 243-4929.

Source:

http://www.cumberlink.com/articles/2006/12/07/business/busi974.txt