They worked longer hours. They accepted a greater number of small transactions. Senior brokers who had not placed a "cold call" in years returned to making 20 such solicitations a day.
It all paid off in the end.
In 1991, the Newport Beach office of Lee & Associates Commercial Real Estate Services chalked up its best year in its seven-year history, posting a 12% gain in gross income over 1990. And nowadays, as most anyone could tell you, that's practically a miracle.
John Bodenburg, managing partner, said the office's 34 brokers have a knack for "going with the trend."
"Brokers who did business in 1991 the same way they did it three years ago are starving," Bodenburg said. "Luckily, we were able to adjust."
That adjustment meant going after many sales and leases in the $1-million range, in contrast with the multimillion-dollar deals Lee & Associate brokers commonly landed during better economic times.