Hoover revamps sales strategy; COO Hoover says down market presents opportunity

By Ric Swats

River Cities Business Journal

MOHAVE VALLEY - The Hoover Companies are taking steps to adjust to a changing market with their El Rio properties in Mohave Valley.

The slowdown in residential property sales has hit real estate agents and developers hard throughout the county, but it just creates new challenges in marketing, according to Hoover Quality Homes Chief Operating Officer Brad Hoover.

“In the changing real estate business you have to adjust to market conditions,” Hoover said. “There used to be 1.6 million homes sold every year in the country. Now there are a million homes being sold a year.

“We believe energy creates energy. Even though home sales are being slow, homes are still being sold. We just want to be the ones selling them.”

Hoover is making adjustments and changing course to thrive in the market. Unfortunately, one of those adjustments included some layoffs.

“We have had some layoffs. They've all been at the upper end,” Hoover said. “We have laid off maybe a tenth of the workforce.”

Almost all the layoffs were in management positions, Hoover said, emphasizing that none of the layoffs will affect the general public's contacts at Hoover properties.

El Rio Country Club was closed for reseeding through September and early October.

“The golf course opens Saturday and it opens to a full house,” Hoover said. “The tee times are sold out. You can't get one.”

As far as residential development at El Rio, sales are satisfactory, Hoover said.

“There are only 42 home sites of the original 161 left,” Hoover said. “So that's doing really well.”

In another development, The Villas, an adult gated community on Reyes Adobe Drive, in Fort Mohave, there was a Grand Re-Opening Event on Oct. 16 as Hoover unveiled Phase II of the development that offers new models of homes. The Re-Opening will featured cocktails, model tours, dinner and drawings.

On the commercial property side Hoover is developing El Rio Professional Business Plaza and the company is looking to innovation to aid in marketing.

“We do have a lot of commercial development and we're moving forward on that,” Hoover said. “We're going to jump start that with a good deal on the 15th (Monday) of this month.”

Hoover said a business has to look at the fact that we're in a down market and has to adjust to it and that may mean lowering some prices. It also means reaching out for business rather than waiting for it to walk in the door.

On Nov. 15, El Rio will reach out to the community by hosting a mixer.

“They will come to our model complex,” Hoover said. “We have eight different builders who will display their models.”

Creative thinking is a key to the revamped marketing program. To best take advantage of the mixer the company has invited the members of all the chambers in the region.

“In the real estate game we believe down markets are the time of greatest opportunity,” Hoover said.