1st it was Sarasota. Now it’s the Panhandle.
Douglas Elliman, led by Government Chairman Howard Lorber, is opening its first workplace in northwest Florida, in accordance to a press release.
Brad Reese, formerly with Berkshire Hathaway HomeServices Seaside Attributes of Florida, is joining the brokerage and will be centered out of Elliman’s new Santa Rosa Beach front business, at 3124 West County Freeway. Reese has shut extra than $200 million in income because 2021.
Reese is in talks to recruit other best agents in the spot, he reported.
The shift is Elliman’s most recent foray into Florida’s West Coastline, pursuing an Oct growth into Sarasota with agent Lisa Rooks Morris. The Santa Rosa Seashore business office marks the firm’s 28th place of work in the condition.
The brokerage’s leaders have been eyeing a westward growth for a while, but Florida CEO Jay Parker couldn’t consider it when agents started off telling him about the Santa Rosa Beach sector.
“The Panhandle, who goes there?” he said. “Turns out, a whole lot of folks.”
Reese known as Lorber’s New York business office 5 years in the past to pitch him on his Panhandle market place, he claimed. It took decades of persistence and sending market place stories, but eventually Reese certain Lorber and Parker to trek down to Santa Rosa Seashore.
“We had a handshake offer ahead of they remaining,” Reese mentioned.
The current market appeals to wealthy 2nd property purchasers from Nashville, Atlanta and Texas, Parker claimed. The median sale value for residences in Santa Rosa Seaside is $1.2 million, and listings inquire as significantly as $25 million, Real estate agent.com demonstrates.
Parker reported the city has a incredibly lively rental current market, with a distinct seasonality than the relaxation of Florida.
“It’s extra of a summertime place, alternatively than a winter desired destination,” he mentioned.
Subsequent the pandemic increase, Reese mentioned he’s nonetheless viewing “healthy numbers” for his marketplace.
“We’re not seeing any pullback as much as prices,” he mentioned. “We are looking at a minimal bigger times on sector.”
In addition to its the latest westward progress, Elliman and Knight Frank released an affiliate department in the Bahamas past month. The brokerage is honed in on the Sunshine Point out, though.
“Overall, Florida is poised for continued advancement,” Parker claimed. “Howard’s opinion is pretty steady with wanting to concentration our expansion in Florida.”
