Hendrix Seeks Steady Growth

Mike Doyle, principal broker for the fledgling Hendrix & Associates Real Estate in Fayetteville, said the goal of his company is quality, not quantity.
“We don’t want a bunch of agents, maybe 20 to 25 to keep us in that mid-sized range, but be really solid $2 million to $4 million producers,” Doyle said. “The ones we do have, we want to make them be the best agents they can be.”
Hendrix has 16 employees and is just getting its feet wet in the market after being founded in early 2006 by owner/president Joe D. Hendrix.
The company has 105 current and pending listings totaling about $29.6 million. Of that inventory, about 45 percent are residential, 45 percent are lots and the remaining 10 percent consists of commercial and lease property.
Doyle came to the company after spending three years as a Realtor for Lindsey & Associates in Fayetteville.
“I’ve brought in a couple of people I knew from there,” Doyle said. “But they mostly came from referrals, so they weren’t really recruited.”
Doyle said the real estate market has become much more competitive as belts are tightening on buyers’ budgets. He said the company had a solid summer, but then hit a downturn over the winter months like most companies in Northwest Arkansas experienced.
“It’s picking back up,” Doyle said. “We’re just going to continue working hard.”