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Industry News
Real Estate Industry NewsReal estate downturn forces industry cooperationSouthern Nevada's once robust market has gone bust, with rising foreclosures and a glut of available space. Vacancies have shot up and prices have gone down. But the industry downturn has one happy upside: It has forced more cooperation and camaraderie among local brokers.The real estate profession is known for its cutthroat competitiveness. Traditionally, brokers covet clients and safeguard tips. Today's market, however, has many professionals rethinking their business approaches. "I think the downturn has brought people together, with a more free exchange of ideas and industry information," Commercial Alliance Las Vegas President Robin Civish said. "I have co-brokered deals with other firms. I would rather take half a commission today than a 100 percent commission two years from now."Necessity has resulted in greater interaction in real estate dealings. Many firms are now willing to partner with rivals or refer clients back and forth; it was something that was infrequently done during real estate's heyday.
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