Offices are closing because the number of sales are way down….something like 24 months in a row vs. the same month the previous year. So, the market has been slowing for 2 years and only now are the newspapers reporting it as a fact. (Because they were always sidetracked by the median price.) Therefore, income from the offices is also down. In this case…the company had nearby offices and could simply relocate the agents and reduce the overall company expenses.
Also, maybe it was time to either re-new their leases…or vacate?
