How did that sales meeting go this morning at beleaguered Royce Builders? Just peachy, reports a reader:

John Speer was not in attendance, but Shawn and [Shonna Speer] were there. They will be running things. There are no project managers, only two construction managers, no VP of Sales, nothing. Corporate is down to 20 employees total. The sales staff was told not to listen to all the negative rumors, and most of the informaiton is all heresay and rumor. They were told they could sell from their assigned community and any other out there. Shawn assured them they would do their best to get the money form the banks when a home closed to pay the salesperson. (The HUD never shows commission due a salesperson, so I cannot imagine how they will get the salespeople paid.) He also addressed the question of Stewart [Title] not closing several deals in the past weeks due t new liens. Shawn again said that was rumor. He told them that was the case in only one closing, and it was for a $25.00 landscaper bill. That bill was also placed on the wrong home. (Yeah right!)

The salesperson I spoke with is currently looking for another job, as are everyone else I have either talked to or gotten word from. Why they would think that anoyone would give Royce a contract, and God forbid ernest money, is beyond me.

Meanwhile, over at the Houston Association of Realtors:

HAR discussed the Royce situation in their board meeting yesterday and decided to e-mail their Realtors. They basically informed the Realtors of the situation so they would not get caught in the middle of a huge problem.

• Royce Builders Death Spiral: Juicy Details! [Swamplot]
• We Have Layoffs: Heads Roll at Royce Builders [Swamplot]
• The Rumors Circling Around Royce Builders [Swamplot]

Photo of Royce Builders offices at 7850 N. Sam Houston Pkwy. West: Stewart Title