Ruhl&Ruhl celebrates second best year ever

Ruhl&Ruhl Realtors celebrated 2022 at its annual awards event on Friday, Jan. 27.

More than 300 agents, staff and affiliated business partners attended the celebration at Rhythm City Casino Resort, Davenport, at which Ruhl&Ruhl President Chris Beason and CEO Caroline Ruhl honored 205 award winners for their 2022 achievements.  

Chris Beason
Chris Beason

“The real estate market is in the spotlight right now. And even though the year-over-year market comparisons will appear negative, we have a lot of reasons to celebrate some long-lost normalcy returning to the market,” Mr. Beason told the crowd. 

“With longer days on the market, fewer bidding wars, and more competition, clients will place a higher value on caring, competent, and skilled agents,” he added. “We have the opportunity to show our local knowledge and expertise, and do what we do best – serve as the proactive, trusted, real estate advisors our clients need.” 

Company leaders shared these 2022 sales highlights at the event: 

  • Residential sales volume in 2022 was $1,157,223,540, down 2.4% from 2021.
  • Ruhl&Ruhl Realtors sold 5,257 properties in 2022, as either listing agent or selling agent. This was 9.9% fewer transactions than in 2021.
  • Revenue, which is measured primarily as gross commission income (GCI), was $33,543,387 – down 2.4% from 2021.
  • The company listed 2,765 properties for sale.
  • On average, its agents closed 16.8 transactions in 2022 – more than double the national average.
  • Ruhl&Ruhl ended 2022 with 313 residential agents and 63 employees. Midwest Referral, an affiliated company, has 74 agents.
  • Ruhl Property Management manages 405 properties (492 units) and three homeowner associations (HOA) (91 units). It acquired 145 new properties in 2022: 91 for property management and 54 for tenant placement and executed 113 lease agreements.
  • Ruhl Mortgage closed $151,162,863 in loan volume, which was generated by 729 loans. It employs 20 including loan officers, loan officer assistants, in-house underwriters and processors, plus other management and staff. 
  • Ruhl&Ruhl agents referred clients resulting in 511 policies being sold by the Nelson Brothers Agency, a Ruhl&Ruhl Realtors’ affiliated insurance company with 20 sales agents and 18 staff members.
  • NAI Ruhl Commercial Company, a joint venture with Ruhl&Ruhl Realtors, sold $105 million in commercial real estate in 2022. It employs 16 commercial agents and 15 staff members. NAI Ruhl Property Management manages 1.748 million square feet of space, 330 HOA units, and 80 acres of land.

During the event, Ruhl&Ruhl presented these top awards: Excellence in Service Award, Laura Custis – Muscatine office; Associate of the Year, Kurt Johnson, Bettendorf office; Team of the Year, The Healey Group, Dubuque office; New Associate of the Year, Melissa Zell, Muscatine office; Associate of the Year: Farm & Land, Dennis Stolk, Davenport office, and Mortgage, Ray McDevitt, Bettendorf office; Top Nelson Brothers Associate of the Year: Ray McDevitt, Bettendorf office; Community Involvement of the Year, Kendra Mulcahy, Davenport office;  Referral Staff Member, Alyssa Condit, Customer Service, corporate office; and Employee of the Year, Lynn Heiar, MLS administrator, DeWitt office.

Find the complete list of award winners here

In discussing the forecast for 2023 for the regional market, Ms. Ruhl said the company began 2023 with 12% more active listings than a year ago. She predicted inventory will grow, buyers will return to the market, and home appreciation will continue over the long run.  

Caroline Ruhl

“The increase in active listings is due in part to homes taking longer to sell. There is considerable pent-up seller demand to sell their properties and make a move. The frenzied conditions of last year with multiple offers and confusing escalation clauses have abated,” she said. 

“Most sellers will be pleasantly surprised at the amount of equity they have in their homes, as properties have appreciated significantly over the past five years,” Ms. Ruhl added.           

The Quad Cities-based real estate firm said it is optimistic that 2023’s spring selling season will be a bright spot as inflation gets more under control. And demographics are spurring demand. Citing a recent survey, the company said 84% of Gen Z, 79% of millennials, and 61% of survey respondents 77 or older plan to buy a house or condo in the next few years.

Ms. Ruhl added that mortgage rates may trend down slightly but will be volatile. “As home values continue to increase, a mortgage now between 5% and 6.30% would be a smart investment,” she said. 

A family-owned company since 1862, Ruhl&Ruhl Realtors has grown to 318 sales associates, 63 employees, and eleven offices, selling more than 5,200 homes in eastern Iowa, northwest Illinois, and southwest Wisconsin. It has residential sales offices in Iowa in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City and Muscatine; as well as offices in Galena and Moline, Illinois.

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