When Phil Reid got his real estate license in 1989 and opened the doors of Westbound Real Estate, he had a vision to sell land in Warren County, as much of his youth was spent working with his father …
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When Phil Reid got his real estate license in 1989 and opened the doors of Westbound Real Estate, he had a vision to sell land in Warren County, as much of his youth was spent working with his father who developed land in the area. Sure enough, 30 years later, he is still doing just that.
This month Westbound Real Estate, located at 21 N. Stringtown Road in Wright City, is celebrating its 30 year anniversary.
It was a very roundabout way that Westbound got its start. Raised in Bridgeton as one of eight children, Reid spent much of his time in Warren County, grass-whip in hand, cleaning up various properties with his father. It wasn’t until after a four-year stint in Japan that he decided to actually open his first real estate office.
During a study abroad with Mizzou, Reid extended his stay and ended up working for Nittei Group, a Japanese real estate firm that specialized in building condominiums in Tokyo. At that time, real estate in Japan had skyrocketed, as expensive as $4,000 a square foot or more.
After a few years working in Tokyo, Reid decided to come home and open his own real estate office, naming it Westbound Real Estate to coincide with westward flow of newcomers to the market. At first, land sales were the majority of Westbound Real Estate’s business, with a large demand from urbanites wanting to get out of the city and suburbs.
Thirty years ago, the average 3- to 5-acre lot in Warren County ran from $6,000 to $15,000. Today it is about four times that amount, at $25,000 to $60,000. Phil’s first month’s sales in the business were a $29,000 home in New Florence and a $17,000 lake lot in Warrenton.
According to Reid, the nature of operating a real estate office has changed dramatically.
“Back then an office might be 500-1,000 square feet with a couple of desks, two phone lines, a few typewriters and plenty of whiteout,” Reid recalled. “There was no internet listing platforms and you had to wait for these big bulky catalogues to come weekly in the mail with updates on what came on the market.”
Reid said the internet revolution changed the industry, offering listing and advertising through online channels and providing immediate information for buyers.
“One of the biggest changes I have seen is that buyers are more equipped with search tools at their fingertips and often contact an agent after they already know which property they want to view,” Reid commented.
The contracts and paperwork involved in real estate have become more extensive as well, which Reid said is for the better with fewer legal disputes.
One thing that has been consistent is that Westbound is still known for offering land for sale. In addition to farms, acreage and building lots, Reid has also grown the business to offer commercial and residential listings. And longtime employee, Pam Brown, who was there when the doors opened, is still there today handling all contracts and accounting.
“Pam has been priceless and wears a lot of different hats in the office. I really don’t know where I would be today without her,” praised Reid.