Princeton Realty has a satellite office inside the new Walmart that opened last Friday in Princeton.
Princeton Realty owner Wendi Wicktor was pleased with the results of that move when the walk-in office had its debut during the Walmart store opening. Daniel Frydrych, vice president of franchise development with WW Franchise, the company that set up the walk-in, said the Princeton Realty walk-in office had received 100 leads as of 1 p.m. last Friday.
“This is the hottest real estate concept in the country,” said Frydrych, referring to a real estate company having a satellite office in a second location to take advantage of customer traffic.
“I think it’s a wonderful opportunity,” said Wicktor, who noted that Princeton Realty will be keeping its downtown Princeton office location.
Frydrych said the Princeton Realty walk-in is the first for a real estate company in Minnesota. He explained that real estate walk-in offices had already existed in Arizona and California.
“We could do transactions there (at the walk-in office),” Wicktor said. “We’re competent of doing it.” But the idea of having that second office is to generate leads, to help people think of buying and selling real estate, she said. What the real estate industry consultants are calling this is “convenience,” Wicktor added.
The decision to do this happened “very quickly,” Wicktor continued. She was first contacted by WW Franchise a couple months ago, and at that time had never heard of a realty business located inside a Walmart, she explained.
Wicktor expects to have a couple real estate agents working at the walk-in office and predicted that the majority of Princeton Realty’s leads will be generated at the walk-in.
The real estate business has been “tough the last 5-6 years,” but has been improving lately, Wicktor said. The years 2007-08 were the worst, with 2009 being a “little better,” and right now Princeton Realty needs more listings of properties to sell, Wicktor said.