Brokerage Beat: News from United, C21, The Agency, more
United's Charles Rutenberg grows with merger in S. Florida; Century 21 gains Colorado affiliate; The Agency opens in Nicaragua; Compass nabs $1B agent; more.
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.
South Florida firm merges with United company
United Real Estate is bringing 60 new agents into the fold in South Florida through a merger with Real Estate Authority.
The union with Charles Rutenberg Realty Fort Lauderdale (CRR), a 1,200-agent company that merged with United in 2019, will add "fuel" to ongoing regional expansion efforts, United President Rick Hasse said in a news release.
The move comes days after United announced a 900-agent addition in the West through an affiliation with the Oregon-based MORE Realty.
Michael Brownell, Real Estate Authority's founder, said his "top priority is to ensure that my agents have access to world-class education, coaching, technology and brokerage support so they can excel in their field."
Brownell, who has 18 years of experience as a licensed agent and brokerage leader, will be tasked with putting his "extensive recruiting experience, market knowledge and broad sphere of influence" to use as CRR's new talent attraction specialist, United said.
Brownell's "leadership and expertise will be invaluable assets as we continue to grow and strengthen our market position," CRR Managing Broker Michelle Sessor added.
Northeastern Colorado indie joins C21
Cornerstone Brokers LLC, an independent firm led by Adam and Mary Walter, is taking up the Century 21 banner as one of the global company's newest affiliates.
The Fort Morgan-based brokerage will now operate as Century 21 Cornerstone with a focus on properties in Logan, Morgan, Washington, Weld and Yuma counties.
The husband-and-wife duo entered the industry in the 2000s, with Adam now leading daily business operations as Mary works as the company's managing broker. The Walters have more than 40 years of combined experience handling residential, farm and ranch properties. They intend to use the tools now available through their C21 affiliation — resources Adam described in a news release as "game changers" — to expand operations into neighboring areas.
"We're always looking for ways to make our firm better and now the sky is the limit," Adam said. "Now with an international network and educational resources, we will be able to more effectively reach new clients, and help grow our firm into new markets, new offices, and pursue more new possibilities."
The Agency opens first office in Nicaragua
The Agency is expanding its footprint in Central America with its first-ever office in Nicaragua. The luxury brokerage initially entered the region in October 2023 with an office in Panama.
Joao Mucciolo, an agent with nearly 10 years of experience in Nicaragua, will lead the new office as its managing partner, according to a news release. Mucciolo said he anticipates "an exciting new era for real estate in the region" and looks "forward to using our market knowledge and strategic vision to help buyers and investors navigate the evolving opportunities ahead."
The Agency has more than 130 offices in 12 countries, with 30 new offices added last year. Nicaragua is "an ideal market for The Agency's next phase of expansion" due to its "growing international appeal," Executive Vice President of Franchise Sales James Ramsay said.
"With its excellent schools, strong community values, and promising real estate prospects, we look forward to offering our tailored services to those looking to invest in this thriving region."
More brokerage news
Compass has brought a billion-dollar agent into the fold in Florida. Pablo Alfaro has played a role in more than $1 billion in sales over the last quarter-century, with a focus on luxury markets in New York and Florida. Now based in Miami, Alfaro said his move to Compass was driven by a belief that "it is the ideal platform to navigate" the industry amid "major shifts" in the market.
Coldwell Banker Realty has added a two-agent team in Boston. Reig + Losordo co-founders Jillian Reig and Steve Losordo, who are leaving Compass to affiliate with Coldwell Banker, have handled over $600 million in sales since they started working together in 2010. The two have more than three decades of combined experience and share a focus on properties in Boston Proper.
Engel & Völkers continues expanding in the Pacific Northwest with a new shop in Cle Elum, Washington. Marcel Dolak, a broker and license partner with more than 25 years of experience who has been with the company since 2020, will lead Engel & Völkers North Cascades Cle Elum. Dolak owns another Washington shop in Kirkland and also co-owns Engel & Völkers' locations in Bend, Oregon, and Palm Desert, California.
Douglas Elliman has added two new agents to its Florida teams. Barbara Estela, a luxury real estate agent with more than 20 years of experience, is joining the company's Coral Gables office after spending the last five years at ONE Sotheby's. Tommy Puccio, a South Beach businessman who founded and owns Nikki Beach, joins Douglas Elliman's Miami office as an industry newcomer. The company also named Tracey Strube, formerly of Engel & Völkers, as the new managing broker of its St. Petersburg office.