NEVADAN AT WORK: Realtors group boss helps home sellers manage fitful market

Irene Vogel would love to see the Las Vegas housing market turn around for the benefit of both consumers and the 11,500 members of the Greater Las Vegas Association of Realtors.

Vogel, the association's chief executive officer, said there's no logical explanation as to why Las Vegas home prices should plummet to below replacement costs.

"It's terrible," Vogel said in her GLVAR headquarters office filled with family pictures, awards and plaques recognizing more than 30 years of professional achievements. "At what point do we say, 'Enough is enough?' "

Vogel recently met with U.S. Treasury officials and major bank executives in Washington, D.C., to discuss the housing situation.

They're clueless about some of the problems facing Las Vegas, she said. Bankers said they don't have more than 70 to 80 short sales, or lender-approved sales for less than the mortgage owed, come across their desks every month while Realtors report that 23 percent of all sales, or about 1,000 per month, are short sales in Las Vegas.

"I wish I could say I see a light at the end of the tunnel, but when I go to a meeting where they want to eliminate the mortgage interest deduction ... why are they attacking that?" Vogel said.

Vogel had worked with a Realtors group in Southern California and was referred for a job interview with the Greater Las Vegas Association of Realtors when she and her husband, Allen, moved here in 1974. She was named executive vice president of the association in 1977, starting with a staff of three and 750 members. Membership had grown to 3,000 when she left in 1990 to pursue other career opportunities.

Vogel returned in 1999 and watched membership increase to 17,500 in 2006, the peak of the housing market. She now oversees a staff of about 40.

Question: What is your role as CEO of the Realtors association?

Answer: I basically run the association as far as multiple listings, overseeing education, overseeing our political advocacy. We've progressed to where we have different departments that do very well. I also oversee our standards and make sure members are living by the code of ethics. Part of my job is go get involved with the community. I helped start the Lied Institute (of Real Estate Studies). I'm on the Chamber of Commerce.

Question: Why did you leave the association in 1990?

Answer: I actually went on the other side and became an active Realtor and opened Country Club Hills (in master-planned Summerlin) for Christopher Homes. I went on the sales end and loved it. I got called back (to the association) in 1999 for six months to straighten out some problems and assist in some issues they had. Six months became 10 years.

Question: Why do real estate agents, in general, have such a bad image?

Answer: I don't how fair it is. I guess we like to separate ourselves as Realtors and I hope that we'd be looked upon differently with our education. I think people are generally unhappy and had a bad real estate deal and they lash out at Realtors. I don't think it's fair.

I think it's too easy to get into real estate and our people (association members) are not about that. If you get laid off, with our unemployment, where else can you go into business for yourself for $1,000? It's still a great way to generate income. We have many Realtors who are doing very well. Maybe where they had to sell five homes, now they sell 20 homes to do that well. But you have to change the way you do business. I came here when interest rates were double digits and they survived then.

I thought we'd progressed a little bit above the used car salesman. There's bad in every industry, but it's easy to attack Realtors. I do think we have many professionals to be proud of.

What business is as unique as real estate where you are friends with your competitors? You have a listing and selling side. You don't find that in any other business.

Question: Some people say Realtors are to blame for the run-up in Las Vegas home prices. How would you respond to that?

Answer: They're not alone. There were lots of others. Buyers were greedy, sellers were greedy. Mortgage companies, appraisers ... lenders had no criteria. They gave money to everyone. I don't think it's justified to blame Realtors. They were not alone.

Question: Your contract with the association expires this year. What are your retirement plans?

Answer: I don't know. I thought when I retired the first time, I didn't have a chance to think about it more than a week because they (Christopher Homes) called me in. Now it's a much more serious problem. I'm at the age I can't play tennis because of my knees, I can't see to play card games, I'm not the kind to baby-sit the grandkids. I don't know. If anybody ever needs me in the consulting business, that's probably what I'd do. I'll probably end up taking adult education courses at UNLV and CSN (the College of Southern Nevada.).

Question: Who would you like to see fill your position?

Answer: I want someone who has a strong personality, someone who has been a CEO. I would prefer someone coming from the real estate business. I don't think this is the time to bring in someone from outside because we have too many problems. It's too much of a learning curve. Someone strong, but personable. And someone whose community meant something to them.

Question: What advice would you give your successor?

Answer: Formulate your own opinions. Research each area. Don't listen to other people trying to ... it's a difficult situation because we have some troublemakers. I would rather that they evaluate it and make up their own mind on stuff. Start with a fresh slate because you're going to have people try to influence you and that becomes a real problem. I don't want to tell people to watch that person, but if the person has any smarts about them, they can come up with their own evaluation of situations and people.

Never discuss anything with anybody. When I go home, I leave it here. It's like family here.

Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.