A seller's market combined with economic problems hindering potential home buyers would not seem like the perfect time to start a new real estate company.

But it did to 26-year-old Justin Bolin, who held a grand opening last week of his new company, VanderMorgan Real Estate, on Professional Parkway in west Augusta.

"The best time to capitalize on people's mistake is when the market is down," Mr. Bolin said.

He spent the last three years working for the area's two Century 21 agencies, Jeff Keller and Larry Miller, before deciding to go off on his own.

By law, he needed to spend three years under a broker to become a broker.

Other than a desire to work for himself, Mr. Bolin said he started his own real estate brokerage because there is little young blood among real estate brokers in the region.

Mr. Bolin is a former Burke County firefighter who chose to go into real estate after two years in the military.

VanderMorgan Real Estate has three employees and two more agents in training. He is leasing the space at 2910 Professional Parkway.

The name VanderMorgan was selected from two of the country's well-known business barons, J.P. Morgan and Cornelius Vanderbilt. He said he is setting up his company so that the name can be franchised.

Mr. Bolin is also a partner in a company called VanderMorgan Group, which currently owns three independent insurance companies.