Brokerage Beat: News from The Agency, Coldwell Banker, C21, Sotheby's
The Agency opens 100th office; longtime Bermuda firm re-ups with Coldwell Banker; Century 21 adds affiliate in Mass.; Sotheby's grows in Upstate NY.
Editor's note: The brokerage business is a busy one, with frequent moves, mergers and milestones. Here we highlight some of the latest activity among brokerages across the U.S.
The Agency reaches an expansion milestone
Global luxury brokerage The Agency announced the opening of its 100th office this week.
The newest office is the first to open in Portland, the second-largest city in the Pacific Northwest, and will be led by Managing Partner Dirk Hmura and Managing Principal Broker Andrew Misk.
Hmura, a Portland native, brings more than two decades of experience and career sales topping $500 million to The Agency Portland, according to a news release. He was previously at a local, independent brokerage where he ranked as the top-selling agent for 12 straight years, and he has consistently been recognized as one of the top 10 real estate agents in Portland.
Misk is also a longtime Portland resident and was most recently a managing principal broker and VP of sales at a Sotheby's International Realty franchise office. In addition to real estate sales, he has a background in the mortgage industry.
"I'm grateful for the opportunity to bring The Agency to the vibrant city of Portland and demonstrate the strength of this innovative and forward-thinking brand," said Hmura. "We've long admired The Agency's unmatched collaborative environment, which sets it apart from other brokerages in the area," Hmura added.
Portland marks The Agency's 24th new office in 2023 and the second office in Oregon after the launch of The Agency Bend earlier this year.
Bermuda firm agrees to another 15 years with Coldwell Banker
Coldwell Banker Bermuda Realty, which has been with the brand for 25 years, announced that it will renew its franchise agreement with Coldwell Banker Island Affiliates.
The Bermuda firm, which was the first real estate company in the island nation to join a global real estate brand and also one of the first Coldwell Banker franchises outside the U.S., will now operate for another 15 years under the CBIA banner.
The company, led by President and CEO Brian Madeiros, was founded in 1953 and currently has 47 team members. Madeiros is a 30-year real estate veteran and has helmed the Bermuda firm since it joined the Coldwell Banker brand in 1998.
"We have had a strong presence in Bermuda for 70 years, and our strategic decision to partner with Coldwell Banker has proven to be a game-changer for our local real estate market," said Madeiros. "Over the years, we have seen the real estate industry change dramatically, and Bermuda now attracts clients from the U.S., Canada, Europe and around the world largely through our Global Luxury program. The Coldwell Banker brand is noted worldwide for its ethics and integrity, and we are thrilled to continue with the brand," he added.
Larry Burke, CEO of Coldwell Banker Island Affiliates, noted that Madeiros and his team have been "extremely complimentary" in the network's efforts to support franchisees with the "enhanced training, operational support and marketing offerings that are needed in today's competitive real estate industry."
Independent Massachusetts firm joins Century 21
Realty Network Associates, owned and operated by AJ Andrews, has announced its affiliation with Century 21.
The firm, based in Taunton, Massachusetts, opened in 2010 and serves buyers and sellers across the southeastern part of the state. Andrews has been in real estate for nearly three decades, and the firm's sales professionals have a combined 100 years of experience.
Now doing business as Century 21 Realty Network, the brokerage provides a variety of real estate services including commercial properties, first-time homebuyer assistance, second homes, foreclosures, short sales and land sales.
Andrews noted that the affiliation with the global brand will bolster his firm's reputation and help him expand its footprint.
"In my 30 years of real estate experience, I've always believed that honest hard work will produce desired results," Andrews said. "Anyone can just get a job done, but it's the extra effort and integrity that makes us stand out in our client interactions. People have already come to trust us based on these merits, but now with the broad recognition and strong reputation of the CENTURY 21® brand attached to our business, we'll be able to build even more confidence with prospective clients."
Sotheby's Realty expands in Upstate NY
Sotheby's International Realty has launched its first office in Rochester, New York, marking its 60th office in the state.
High Falls Sotheby's International Realty, owned and operated by Robert Piazza Palotto, is home to 23 real estate associates and serves Monroe County and the surrounding areas.
Piazza Palotto has more than two decades of real estate experience, and his team was the top-performing team in Monroe County for sales volume and transactions in 2021 and 2022.
"It was important for us to align with a company that not only elevates our operations but also enriches the experience for our clients, adding tangible value to their real estate endeavors," said Piazza Palotto. "Our mission is to enhance our clients' real estate journey to the fullest extent by offering a tailored approach with unparalleled service. This union allows us to utilize our expertise and local knowledge while leveraging the prestige of Sotheby's International Realty and its brand recognition, advanced marketing, and global access."