One Sotheby’s International Realty strengthened its foothold in Brevard County with the acquisition of the boutique brokerage SunCoast Real Estate Group, The Real Deal has learned.
SunCoast, a 48-agent firm led by founder Reagan Jefferies, will close its Indian Harbour Beach office. The brokerage was involved in deals totaling $70 million last year.
Daniel de la Vega, president of One Sotheby’s, said the acquisition was “a long time coming.”
Miami-based One Sotheby’s, led also by founder Mayi de la Vega, has been expanding across Florida in recent years. It grew at least 25 percent last year as the brokerage expands its footing in the booming South Florida luxury markets, a spokesperson said in the fall.
This month, the O’Dare Boga Group in Vero Beach joined One Sotheby’s. In January, the brokerage bought a Sotheby’s affiliate in Jacksonville with 93 agents and five offices. In September, One Sotheby’s acquired another Brevard County firm with 76 agents and three offices.
De La Vega said the brokerage will continue to grow via acquisitions, even as mortgage rates rise and year-over-year sales slow in South Florida.
“We’re kind of waiting to see how things stabilize,” de la Vega said. “We are in acquisition mode and will be in acquisition mode in 2023.”