Mel Foster Co. held its annual awards reception last night at the Rhythm City Casino Resort in Davenport, Iowa. Rob Fick, President and CEO, Lynsey Engels, President Real Estate Brokerage and Marc Engels, President of Mel Foster Insurance, presented awards to 125 agents who were recognized for achieving membership in the company’s different sales club levels including Chairman, Executive, President and Honor.
Mel Foster Co. had a positive economic impact on the Quad Cities and surrounding areas it served through its hiring activity and charitable endeavors in 2016. Overall, the company welcomed 32 new agents and staff members among its eleven offices.
The company attributes its success in recruiting new agents to its team with offering the newest technology and the staff support needed to make agents successful in their buying and selling transactions. Homebuyers and sellers noticed new technology rolled out by Mel Foster Co. in 2016. The website’s new search features allow property search by drawing boundaries to help locate homes for sale in a desired location. Agent websites were converted to a responsive design that is mobile friendly and easier to use. Also, agents improved response time by utilizing instant notifications for leads by e-mail or text message.
On the residential side of the business, numbers remained consistent with 2015, despite the economic uncertainty. Clinton and Galesburg Mel Foster Co. offices had record-breaking years with the Clinton office sales volume up 63% while Galesburg skyrocketed to nearly 150% of an increase compared to 2015 volume. Companywide, residential agents averaged 16 transactions in 2016, and in the local Quad City market, average home sales price remained relatively unchanged compared to 2015. Nine Mel Foster Co. agents were in the top 10 of their respective MLS. Last year, the company finished its 3rd and 4###sup
New home construction and land development continues to be a growth area for Mel Foster Co. More than 50 lots were sold in subdivisions the company developed in 2016 and there are plans to develop more than 150 new lots in 2017.
Mel Foster Co.’s commercial real estate sales volume continued to reach record-breaking levels in 2016. Three of the company’s commercial brokers ranked in the top 10 in the Commercial MLS, and Mel Foster Commercial Real Estate Services ranked #1 in the CMLS with over 36% of the market.
Mel Foster Insurance continued to grow its footprint in the Quad Cities as a trusted Independent Insurance Agency. In 2016 results remained strong as premiums grew 9.4 percent and policy count was up over 5 percent. Marc Engels commented, “We are proud of adding nearly 800 new clients in 2016. We have a 93% client retention rate which is a testament to the exceptional service we provide to our personal and business clients. This new growth and strong retention helped us achieve the best fourth quarter on record for the insurance division.”
In addition to another strong year, Mel Foster Co. is equally proud of the tremendous impact that agents and staff had on their community as they reflected upon the fourth and final Mel Foster Color the Quads. The event introduced and led by Mel Foster Co. raised an impressive quarter of a million dollars over four years to support 24 local charities. Lynsey Engels, the event’s co-chair, explains the importance of Color the Quads on the community, “One hundred percent of the proceeds were donated and stayed in the local community to bolster a wide range of non-profit organizations. The financial support generated through the event filled a significant funding gap that many non-profits face as they worked to provide services to children, families and those needing a hand. We are so grateful for the support we received from local businesses, volunteers, participants and most importantly our agents and staff as a whole through this event and are extremely proud of the impact for our community.”
Coming off a year with some global uncertainty, the local market remains strong and well positioned for growth in 2017. Rob Fick said, “Mel Foster Co. embraces this year that is full of opportunity. We will continue adding jobs to the local economy, developing subdivisions that in turn support the local trades and championing charitable causes that make this area such a great place to buy, sell, build or insure a home or building.”
About Mel Foster Co.
Mel Foster Co. is a recognized leader for real estate and insurance. Mel Foster Co. Real Estate specializes in residential and commercial sales and offers services for a broader spectrum of property transactions including farm and land, land development and management, relocation and new construction. Founded in 1921, it is one of Iowa’s largest independently owned real estate companies. Mel Foster Insurance was founded in 1932 and represents over 25 insurance carriers and offers coverage for residential and commercial clients. Visit www.melfosterco.com for more information.