Bess Freedman, the Brown Harris Stevens executive vice president and second-in-command at the firm spoke with The Real Deal about the firm’s buying sprees in South Florida.
The New York-based residential brokerage has been busy expanding its offices here in South Florida. When comparing Miami’s market to New York, Freedman calls Miami’s “more challenging.”
“New Yorkers mostly live here, but it’s not heavy investor. So I think when the market is tight and things are not moving Miami’s impacted,” Freedman said.
Brown Harris Stevens entered the Miami market in June 2015 with the purchase of Mark Zilbert’s Zilbert International Realty, and then opened a second office in Miami Beach. The firm has come a long way since first establishing itself in Palm Beach in 1999.
When talking sales in South Florida Freedman told TRD about the firm’s new Miami Beach and Key Biscayne offices, led by sales and marketing executive Philip Gutman.
Freedman dished on the firm’s recent acquisition of Vivian Dimond’s Avatar Real Estate Services. The addition bumped up its number of agents to 78 in Coconut Grove and South Miami. The company also acquired a luxury brokerage in Lake Worth called Manatee Cove Realty in March 2015. And in June 2016, Brown Harris Stevens bought Ocean Club Realty, a boutique brokerage based in Key Biscayne.
When asked about expanding to other markets Freedman said “there’s money everywhere, but I think you get watered down when you spread out.”
Freedman also mentions commission splits and compare’s New York’s 75 percent to Florida’s 85 percent.
“It’s harder to make money when the margins are so thin,” Freedman said. “I think we offer the absolute best splits in the industry. It’s based on merit. Nobody gets offered the same deal.”
Watch the video above to see the conversation in full.
Produced by Alistair Gardiner and Kerry Barger. Interview conducted by Hiten Samtani
from The Real Deal Miami https://therealdeal.com/miami/2017/06/28/watch-bess-freedman-discusses-the-evolution-of-the-bhs-brand-in-south-florida-commission-splits-and-more/
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