Profitability in Today's Market
Community Archives helps Customers with Profitability in a Softening Market
Tucson, AZ – As reported in news articles in Fortune Magazine (November 2007) the housing market continues to fall in many parts of the country. The average drop for all surveyed for the article was 28% with the most seriously affected areas being Miami, Tampa, Orlando, Sacramento and Walnut Creek.
Homes that sold for $600,000 in 2000 climbed to an astounding $1.5 million dollars during the height the housing boom and have now dropped to mere $1.1 million. Although still now where they started from, the drop is significant. According to experts the trend will continue for some time yet and the worst is not yet behind us.
This trend obviously has also affected community associations and the management companies that serve them. A drop in sales also means a drop in document delivery, set up and other fees for management companies.
Few in the general populous know that these resale fees are the mainstay of community association management companies, not the management fees charged to associations. These fees usually barely cover costs of managing a community.
How then is it that Community Archives customers are continuing to enjoy increased or holding profitability in this declining market? Community Archives offers its clients versatility, customization and flexibility that helps generate new income streams not accessible through an electronic vehicle previously.
Through the Community Archives system clients are able to offer a varied menu of specialized products to their clients that not only provide the standard resale packages but also additional items such as Realtor Reports, Appraiser Reports, Covenant Compliance Inspection with Resale Package and other specialized items they have not been able to offer in the past.
These new items open up additional revenue streams increasing Community Archives’ customers’ bottom line and making them more successful in the market place.
One may ask “what do these new documents mean to the industry?” Management companies generally spend 40% of their time answering questions through the resale department that are either repetitive or asked by the wrong person. This takes up precious time that could be utilized in a different way. And then there are the questions management company clients may not know to ask.
As such, the specialized products such as Realtor and Appraiser reports help these individuals get the information they need to complete their job without giving them information that would bog them down or are unnecessary for their client while delivering information that is pertinent to their position.
Another benefit of the Community Archives system is that all fees related to expediting documents is solely earned by the Community Archives’ client. Competitors generally keep those fees for themselves, at Community Archives those fees are earned by the client.
And of course all this is done with the management company in mind. From the way the products are offered through the company’s website to the way it is marketed to their clients. It is Community Archives philosophy to be simply the tool not the service provider allowing management companies to provide a service to their client that is superior of anything else in the marketplace today.
What the market will do in the next few years is unpredictable but one thing is for certain, Community Archives’ customers will continue to enjoy increased profitability as long as they provided a varied menu of products though their website. Experts predict that the decline is not yet over and will continue to sink for at least another six months to a year. It is good news that there are companies out there that continue to look out for the best interest of association management companies and helping them increase the bottom line while making their job easier. After all, Community Archives’ slogan is, “Makin’ It Easy”