Brokerage Beat: News from Jack Conway, Christie's, Corcoran, more
Massachusetts indie acquires South Shore firm; Christie's Real Estate adds Trusts & Estates arm; Corcoran grows in NC; Real, The Agency gain high-value teams.
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. and globally.
Massachusetts indie adds family firm
Jack Conway, an independent brokerage with nearly 700 agents across eastern Massachusetts, has acquired Weymouth, Mass.-based Constantino Realty Group.
Constantino Realty Group was founded by broker/owner Joe Constantino in 2014. It is a family operation, with a 7-agent team that includes Constantino's son and brother, and serves the South Shore region of the state. The team will operate out of Jack Conway's Hanover office.
"It's been a pleasure getting to know Joe and the members of his company, and we are thrilled he has decided to join forces with Jack Conway," said Jack Conway CEO Carol Bulman. "His expertise and commitment to the consumer and his community is inspiring, and we are pleased he has chosen Jack Conway for this next stage of his real estate journey."
Constantino cited Jack Conway's reputation and similar culture as a family company as factors in making the move. "I am excited to continue to offer our clients the Jack Conway principles of honesty, integrity and hard work that have become the foundation of the Costantino Realty Group," he said.
The addition of the Constantino Group represents the fourth acquisition by Jack Conway since the beginning of 2023.
Christie's Real Estate launches Trusts & Estates division
In an effort to assist clients with all facets of estate sales, Christie's International Real Estate has established a Trusts and Estates division aimed at providing attorneys, executors, trustees and individuals with the valuation and sale of trust-owned properties and goods, the company announced this week.
The new division will be based in New York and led by veteran agents Howard Morrel and Leslie Hirsch.
Morrel has been a real estate broker for more than 30 years and earned his law degree in 2001. Hirsch joined Morrel Realty in 2003, and the pair later co-founded Morrel Hirsch & Advisors, which has facilitated more than $3.5 billion in transactions, according to a news release.
"The real estate market is on the precipice of the greatest generational wealth transfer in history," said Morrel.
"Attorneys and their clients are swamped with complex issues, new demands, and stunning new valuations. This launch is strategically timed to be at the forefront of this moment. No other real estate firm is focused on being the single point of contact for high-asset trusts and estates across multiple properties and valuable goods," he added.
Hirsch called the new division "a natural extension of Christie's unmatched work in both fine art and luxury real estate — and a necessary response to this unique moment."
Corcoran grows in North Carolina
A large Corcoran affiliate has gained ground on the Carolina coast. Corcoran HM Properties, which has served the greater Charlotte area since 2006, has acquired The Property Shop International Realty based in Wilmington, North Carolina.
Prior to the acquisition, Corcoran HM Properties supported four offices in North and South Carolina; the addition of The Property Shop gives the firm two more offices along the coast and boosts HM Properties' agent count to more than 160.
Founded 15 years ago, The Property Shop is led by broker/owner Tony Harrington, who is also currently the 2024 president of NC Realtors, an association serving around 56,000 members.
"Joining Corcoran HM Properties allows our brokerage to leverage a prestigious brand known for its exceptional service and extensive market reach, enhancing our ability to serve our clients more effectively," said Harrington.
Valerie Mitchener, broker/owner of Corcoran HM Properties, said the acquisition represented "a significant and strategic step" in the firm's growth. "We are not only expanding our physical presence, but also expanding our avenues of continued achievement in driving successful transactions and delivering exceptional service for our valued clients," Mitchener added.
High-producing teams move to Real
The Real Brokerage has been going through a growth spurt, increasing agent count by 70% in the past year. The company announced this week that in July, it added eight teams whose combined 2023 sales volume exceeded half a billion dollars.
"This year is proving to be a significant one for Real. Just last month, we surpassed the 20,000-agent milestone, and we're steadily adding top-producing teams and independent brokerages who are positioning themselves in an evolving real estate market," said Sharran Srivatsaa, president of Real.
The company highlighted the following additions:
Legacy Group, an 8-agent team led by Corilyn Tessier and Kara Chase which serves New Hampshire, Southern Maine and Northern Massachusetts.
L34 Group, a 7-agent team led by Deirdre Salomone and Terry Saltzman based in Southern California.
NUEVA Real Estate, a 50-agent team led by Jose Perez serving the Los Angeles area.
RAZR Group, a 7-agent team led by MJ Frazier which serves the D.C. metro
Addison Real Estate, a 21-agent family-owned team led by Kellene Addison based in New Jersey.
Own It Northwest, an 8-agent team led by Ross Seligman serving the Portland, Oregon, region.
Utah's Finest, a 3-agent team led by Paige Steckling based in Utah.
SL Home Group, a 7-agent team led by Stephen Lonnen which serves the greater Charlotte, N.C., metro.
The Agency boosts SoCal presence
Building on its base in the luxury coastal markets of Long Beach, La Jolla and Corona del Mar, The Agency has added four teams from the region in recent months.
The newly joined agents and teams have achieved roughly $1 billion in lifetime sales volume, and include several teams which came to The Agency in the second quarter:
The Snyder-Wolfley Team, a 12-agent team led by Spencer Snyder and Evangelina Wolfley which will operate out of The Agency's Long Beach office.
Tulane Joseph and her 3-agent team, which is based in La Jolla.
Melissa Esnal and her 2-agent team, which joined the firm's Corona del Mar office.
The latest addition to the firm's SoCal contingent is The Jeff Davidson Group, an award-winning 5-agent team led by Jeff Davidson with more than $750 million in combined sales. The group serves clients across sports and entertainment, academia, resort development and the corporate sector.