REED BROS.

REALTY

2010 COMPANY PROFILEAND 2009 YEAR IN REVIEW

291 West Cascade Avenue, Sisters, Oregon 97759 – 541-549-6000

COMPANY HISTORY

The History of Coldwell Banker

CORPORATE HISTORY:

In 1906, Colbert Coldwell, a young real estate agent, observed families trying to piece their lives

together following the San Francisco earthquake. Disapproving of agents who acquired their

properties from vulnerable sellers and resold them at huge profits, and seeing a tremendous need

for honest, knowledgeable real estate people, Colbert Coldwell founded his company with a

revolutionary philosophy: the customer’s best interest above all. In 1914, Benjamin Arthur

Banker joined Colbert Coldwell as a full partner. Together Coldwell and Banker forged a

tradition of integrity, exceptional service and customer satisfaction that became our company’s

trademark.

Today the Coldwell Banker brand has a global reach, with offices on six continents, 47 countries

and territories. There are 3,965 offices around the world and over 126,000 sales associates. In

2007, Coldwell Banker Offices in Canada and the United States had a closed sales volume of

$265 billion.

INDEPENDENT HISTORY:

Coldwell Banker Reed Bros. Realty is celebrating their 35th anniversary in Sisters this year. In

1974 Bill Reed established the office under the name the General Land Office. It was located in

a converted residence on Cascade Street across from The Gallery Restaurant. Bill’s brother Mike

joined the company in 1976 and the name was changed to Reed’s General Land Office and was

relocated to another converted residence next door to our existing location. Mike became a full

partner in 1979 and the name was changed to Reed Bros. Realty. They quickly outgrew that

location and built an office building on the corner of Cascade and Oak in 1982, where the office

is located today. The company was expanded in 1992 when a branch office was opened after the

company was selected to be the Exclusive On-Site Realtor at Black Butte Ranch. Bill and Mike

joined the Coldwell Banker team in 1993 and the name was changed to Coldwell Banker Reed

Bros. Realty.

The company is proud to have achieved the Coldwell Banker Premier Office designation in 1994

and has continued to earn that designation every year since. The company was awarded the

Chairman’s Award of Honor in 1996, 1997 and 1998. Coldwell Banker Reed Bros. Realty was

the # 3 Coldwell Banker office in the nation in 2005 and 2006, based on size and production.

COMPANY OFFICERS and OWNERS

Mike Reed…………………………....President / Owner

Ashley, Ryan and Brittany Reed……..Owners

MANAGEMENT

Mike Reed, CRB, CRS, ABR….…...…Principal Broker

Lori Ketchum……………………….…Principal Broker

ADMINSTRATIVE STAFF

Lori Ketchum…………………Admin Assistant/Accounting

Joni McCreery………..……….Office Administrator/Receptionist

Vicki Cudek…………………..Weekend Receptionist

BROKERS / SALES AGENTS

Annie Andreson, Broker

Susan Bird, Broker, GRI

Linda Brooksby, Broker, GRI, ABR

Linda Brunanchon, Broker, GRI, ABR

Carole “CB” Davis, Broker, GRI, CRS, ABR

Jackie Herring, Broker

Jeff Jones, Broker, GRI

Lana Labuda, Broker, GRI

Jon McCumsey, Broker

Mike Mansker, Broker, GRI, e-Pro

Connie Mitchell, Broker, GRI

Steve Post, Broker

Ryan Reed, Broker

Doug Roberts, Broker, GRI, CRB

Forrest Smith, Broker

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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Annual Sales

Dollar Volume Number of Sales

Annual Property Sales

Home and Land Sales

BBR and Sisters Area Home and Land Sales

Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.

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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Average Selling Price Median Selling Price Number of Sales

BBR and Sisters Area Home and Land Sales

Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.

Average Selling Price

Home and Land Sales

CLOSED SALES COMPARISONS

BBR and Sisters Area Home and Land Sales

HOME AND LAND SALES

2009 Percentage of Increase

Volume……………............. -30.5%Sales……………................. -2.7%Average Sales Price……… -28.6%

Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.

Sisters Area Transactions2008 / 2009

2008 2009

Volume $71,208,494 $49,487,581

Number of Sales 153 149

Average Sales Price $465,415 $332,131

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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Annual Sales

Dollar Volume Number of Sales

Annual Property Sales

Home Sales

BBR and Sisters Area Home and Land Sales

Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.

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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Average Selling Price Median Selling Price Number of Sales

BBR and Sisters Area Home and Land Sales

Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.

Average Selling Price

Home Sales

CLOSED SALES COMPARISONS

BBR and Sisters Area Home and Land Sales

HOME SALES

2009 Percentage of Increase

Volume……………............. -31.8%Sales……………................. -13.7%Average Sales Price……… -21.0%

Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.

Sisters Area Transactions2008 / 2009

2008 2009

Volume $59,533,695 $40,593,645

Number of Sales 131 113

Average Sales Price $454,456 $359,236

2009 CLOSED SALES PRODUCTION

TOP 10 COMPANIES

Home and Land Sales

BBR and Sisters Area Home and Land Sales

Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.

OFFICE UNITS VOLUME# OF

AGENTS

AGENT

AVERAGE

1Coldwell Banker

Reed Bros. Realty89 $35,948,800 17 $2,114,635

2 Ponderosa Properties 52 $14,163,425 10 $1,416,343

3 Re/Max Town & Country 41 $13,420,402 15 $894,694

4 R.A. Dick Howells Co. 8 $5,588,000 3 $1,862,666

5 H&H Preferred Real Estate 14 $3,249,500 8 $406,188

6 Steve Scott Realtors 3 $2,855,700 25 $114,288

7 CB Morris Real Estate 10 $2,199,000 70 $31,414

8 Hasson Company Realtors 11 $2,181,250 40 $54,331

9 Sisters Hometown Realty 7 $2,155,000 4 $538,750

10 John L Scott – Bend 7 $2,082,000 80 $26,025

Coldwell Banker

Reed Bros. Realty36.3%

Ponderosa Properties

14.3%

Re/Max Town & Country13.6%

R.A. Dick Howells Co.

5.7%

Hayden Enterprises

Realty3.3%

Steve Scott Realtors

2.9%

CB Morris Real Estate2.2%

Hasson Company Realtors

2.2%

Sisters Hometown

Realty2.2%

John L Scott -Bend2.1%

All Other Offices15.3%

2009 CLOSED SALES VOLUME

Home and Land Sales - Market Share

BBR and Sisters Area Home and Land Sales

Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/15/10.

CLOSED VOLUME IN MILLIONS

TOP FOUR COMPANIESJanuary 1, 2009 through December 31, 2009

BBR and Sisters Area Home and Land Sales

$35.9m

$14.2m$13.4m

$5.6mReed Bros.

Realty

Re/Max Town & Country

Ponderosa Properties

R.A. DickHowells

Home and Land

Sales

Source: Central Oregon Multiple Listing Service for the Period 1/1/2009 to12/31/2009 as reported on1/15/10.

CLOSED VOLUME IN MILLIONS

TOP FOUR COMPANIESJanuary 1, 2009 through December 31, 2009

BBR and Sisters Area Home and Land Sales

$25.4m

$12.8m $12.3m

$5.9m

Reed Bros.

Realty

Re/Max Town & Country

Ponderosa Properties

R.A. DickHowells

Home

Sales

Source: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/2009 as reported on1/15/10.

Million Dollar + Sales

Market Share – Sisters AreaJanuary 1, 2005 through December 31, 2009

BBR and Sisters Area Home and Land Sales

48.7%

11.5% 10.3%Reed Bros.

Realty Re/MaxTown & Country

PonderosaProperties

Home and Land

Sales

Source: Central Oregon Multiple Listing Service for the Period 1/1/2009 to12/31/2009 as reported on1/15/10.

INTERNATIONAL OFFICES

COMLS MEMBER OFFICESProduction includes all areas and all property types

BBR and Sisters Area Home and Land Sales

OFFICE OFFICES AGENTS UNITS 2009 PRODUCTION

1 Coldwell Banker 6 132 1,239 $282,334,065

2Sotheby’s

International2 66 278 $98,599,727

3 Re/Max 3 36 220 $50,450,146

Sources: Central Oregon Multiple Listing Service for the Period 1/1/09 to12/31/09 as reported on 1/14/10, www.coldwellbanker.com, www.remax.com, www.sothebyrealty.com. *2008 figures, 2009 figures are not published.

WORLD WIDE OFFICESOFFICE ESTABLISHED COUNTRIES OFFICES AGENTS

1 Coldwell Banker 1906 46 3,300 100,000

2 Re/Max 1973 70 6,800 96,000

3Sotheby’s

International1976 38* 500* 10,500*

2009 Per Person Productivity

OFFICE AGENTS UNITS VOLUME

1 Coldwell Banker 132 9.4 $2,138,894

2Sotheby’s

International66 4.2 $1,493,935

3 Re/Max 36 6.1 $1,401,393