Dyson and Dyson closes offices

Economy, personal health and financial struggles cited by luxury home Realtor

Erica Solvig
The Desert Sun

Dyson and Dyson, a premier luxury real estate firm in the Coachella Valley for 10 years, announced Wednesday that it is shutting its desert offices amid financial struggles.

Owner Bob Dyson blamed the struggling economy, personal and business finances county records show his Bighorn home is in the early stages of foreclosure and personal health reasons for his decision.

This economy has done a number on everybody. We're not excluded, Dyson told The Desert Sun on Wednesday.

It's just time for me.

As first reported Wednesday on mydesert.com, Dyson sent an e-mail to agents saying, We are experiencing unprecedented change and turbulence financially, economically, socially and in our personal and business stability.

Dyson encouraged his agents who are independent contractors able to swap their license to another agency to merge with the Indian Wells-based Windermere Real Estate Company.

Other troubling concerns revolving around our departure from the Sotheby's network, our real estate holdings and a new personal health matter that has surfaced over the past two weeks have all led to this personal and difficult decision, Dyson wrote in an e-mail to employees he called the best of the best.

I have decided that this is no time for me to continue to be in the real estate brokerage business in the desert.

Dyson and Dyson is the valley's first major real estate agency to close in the current market downturn, in which the bulk of sales are entry-level homes priced well under $500,000.

The California Association of Realtors does not have numbers tracking when firms close.

We have seen in all markets large real estate firms consolidating multiple offices into fewer offices, but we have seen very few firms of Dyson's prominence in the market simply walk away from the marketplace entirely, said Pat Veling, president and founder of Real Data Strategies, which has tracked real estate trends nationwide for 17 years.

Windermere officials could not be reached Wednesday.