The posh model’s billion-dollar development when it comes to agent enterprise got here largely from strategic recruitment by its Sereno and Orange County associates, in addition to the addition of star agent Aaron Kirman.
In these occasions, double down — in your abilities, in your data, on you. Be part of us Aug. 8-10 at Inman Join Las Vegas to lean into the shift and study from one of the best. Get your ticket now for the best price.
Following quite a lot of new partnerships, acquisitions and recruiting efforts performed within the final yr, Christie’s Worldwide Actual Property has seen substantial development in California markets over the course of 2022, a press launch from the brokerage reveals.
The posh community, which was acquired by @properties on the finish of 2021, now has three multi-billion-dollar associates in California, together with in Los Angeles, Orange County and the Bay Space. The agency pointed to its franchise mannequin as “an antidote to the company consolidation pattern” that has swept many unbiased brokerages throughout the state in roughly the final decade, and a way of success for associates which have joined the model.
Los Gatos-based Sereno, then the biggest indie brokerage by gross sales quantity in Northern California, joined Christie’s in February 2022, changing into Christie’s Worldwide Actual Property Sereno. Since becoming a member of Christie’s, the corporate has introduced in over $1 billion in new agent enterprise.
A number of the highlights embrace former Compass agent Phil Chen, who’s a prime 10 Bay Space actual property agent; Eric Chu, workforce chief of a $135-million workforce; and Lindsey Harn, the No. 1 agent in San Luis Obispo.
“The unbiased brokerage corporations that dominated California 10, 20 years in the past had been legendary, however few of them had been left standing when the business’s massive public firms completed writing checks,” Thad Wong, co-CEO of Christie’s, mentioned in a press release. “Now, we’re lastly beginning to see a response to that. If given the selection, brokers want native possession. They need that home-grown tradition. They need differentiation.”
The Orange County-based Christie’s affiliate FirstTeam Actual Property closed out 2022 by bringing in additional than $800 million in agent enterprise, a lot of which the agency mentioned was garnered by brokers leaving Corcoran International Residing, as Corcoran Group shuttered the franchise on the finish of the yr and launched Corcoran Icon Properties in its wake.
“Getting access to Christie’s Worldwide Actual Property’s international community, whereas nonetheless being a part of an unbiased, family-operated brokerage the place we will ship customized and attentive service to our purchasers, places FirstTeam in one of the best place for long-term success,” Michelle Harrington, chief working officer of FirstTeam, mentioned in a press release.
Christie’s additionally scored a significant win within the state with the recruitment of star-studded agent Aaron Kirman in November. Kirman left Compass to as an alternative launch his personal brokerage, AKG, underneath the Christie’s Worldwide Actual Property banner. Kirman has netted over $14 billion in profession gross sales and over $1.6 billion in 2022 alone. He was one of many itemizing brokers to signify mega mansion “The One,” which in the end bought for $126 million at public sale.
“Affiliating with Christie’s Worldwide Actual Property undoubtedly provides a layer of status to our model,” Kirman mentioned in a press release. “It’s a reputation that folks instantly affiliate with luxurious, and we profit from being a part of their international community, which is a big benefit when working with purchasers world wide.”
Corporations that affiliate with Christie’s acquire entry to the luxurious model, and its community, in addition to a connection to its public sale home. In addition they acquire the advantages of @properties’ proprietary know-how, together with its end-to-end platform, print and digital advertising packages and on-demand teaching and coaching.
“California has at all times been on the forefront of tendencies in our business,” Wong added, “and what’s occurred over the previous yr is the beginning of a bigger pattern again to the unbiased broker-owner.”
E mail Lillian Dickerson