Brokerage Beat: News from Century 21, Real
Two multi-office Century 21 firms engage in a strategic sale; The Real Brokerage nabs large SoCal team.
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.
Two Century 21 firms in Florida strike a deal
A sale between Century 21 franchises aims to improve the market strength of each company.
Century 21 Edge, which serves Central and South Florida and the Tampa Bay region, has sold its Pembroke Pines office, located northwest of Miami, to Century 21 Integra. The sale will enable Edge to focus on Central Florida while giving Integra | North East, which has more than 40 offices across Florida and New England, a greater presence in the state, the companies said in a news release.
Kevin Johnson, president and CEO of Century 21 Edge, said the "sale is a forward-thinking move" for his firm that will allow them to "concentrate our energy and resources on enhancing the agent experience in our Central Florida operations."
Century 21 Integra | North East President and CEO Jim D'Amico said the addition of the new office "broadens our reach in the Florida market and brings a team of seasoned professionals into our fold."
That team includes Peggy Clemente Pistone and Giuseppe "Joe" Pistone, who lead the Pembroke Pines office. D'Amico said the duo share Century 21 Integra's core values of being "family-oriented, leading by example, and giving back to the community."
Peggy Pistone was previously the broker/owner of the Century 21 Edge Pembroke Pines office, and Joe Pistone was chief operating officer. The pair now both hold the title of sales and growth manager.
In announcing the move on LinkedIn, Joe Pistone, who has been with Century 21 for two decades, said his team "is brimming with enthusiasm for this new chapter" and "eager to continue supporting and developing real estate professionals at every stage of their career, from newcomers to seasoned veterans."
SoCal team joins Real
The Sunny Narang Group, based in the San Fernando Valley, has teamed up with The Real Brokerage.
The 64-agent team, led by Sunny Narang and Chris Fordinal, expects to close 300 transactions worth more than $275 million in 2023, according to a news release. In conjunction with the move to Real, the team is rebranding as The Rise Real Estate Group and plans to expand its coverage area beyond Los Angeles County.
Since its inception in 2021, the team — which began with four agents — has leaned into social media to connect with and recruit additional agents. "It's remarkable how much of a force The Rise Real Estate Group has become within just the past two years," said Real President Sharran Srivatsaa.
Narang and Fordinal said they chose Real because it's "the real estate company of the future," and "the industry is headed toward cloud-based platforms like Real." Fordinal added that the brokerage "provides a platform for large teams like ours to continue to grow while also receiving revenue sharing and stock awards to provide our team with additional earnings opportunities."