News

By Christine Davis

In real estate it’s always been about location, but it’s also about positioning — as can be seen by the number of firms opening or consolidating offices in Palm Beach County’s coastal areas. Agents, too, who have changed offices, are settling in before the bustle of Florida’s winter season moves into full swing.
    A flurry of activity centers around Delray Beach. Lang Realty has opened a new office; Fite Shavell & Associates and The Keyes Company prepare to open offices; Scott Gordon has moved into a more visible office; and Gringle, Doherty and Wheat has merged with Illustrated Properties, which, in turn, has moved to a larger office.
    “Overall the real estate market in Palm Beach County is steadily improving and Delray Beach is an area positioned for growth,” said Bonnie Lazar, 2012 president of the Realtors Association of the Palm Beaches.
    Based on August numbers from the regional Multiple Listing Services for Delray Beach, the month’s supply of inventory is down 50 percent from August 2011 to 4.9 months and year-to-date, the median price has risen from $89,000 to $95,000.
    Joy Linet, manager of The Keyes Company, said she expects her firm’s new boutique 40-agent office at 610 E. Atlantic to be open by Dec. 1. “We’ve always felt that we needed to be in Delray Beach. We’ve grown our luxury portfolio division,  and Delray Beach is perfect for that.”
    Kay Steer, general manager of Lang Realty, said her company, too, wanted an office in Delray Beach for “obvious reasons.”
    “Delray Beach is one of the hottest areas around and it’s near Gulf Stream and Highland Beach. We are advancing in the $1 million-plus range, and the Delray market is prime right now.” Lang Realty is at 900 E. Atlantic Ave.
    Warren Heeg and Michael Mullen, a team specializing in Delray Beach and Gulf Stream with Premier Estate Properties, joined Lang Realty last year. “It was an exciting opportunity for us to get a fresh start at a new company,” Heeg said.  
    “Premier deals with properties $1 million and above, and with Lang, we can take properties at different values.”
    Concerning the Gringle, Doherty and Wheat merger with Illustrated Properties, Frank Wheat said, “We just put the Realtors together. Illustrated Properties had an office near ours and they needed more space. Illustrated took over the administrative services, and I stayed at the office as a Realtor.” Two other agents came with him. Currently with 23 agents, Illustrated Properties is at 700 E. Atlantic Ave.
Fite Shavell & Associates mourn the passing of co-founding principal Wade Shavell, 51, who died on Nov. 7, after suffering a brain hemorrhage after a fall in his Palm Beach home.
Previous plans for a Delray Beach office, though, are still underway.
    Fite Shavell & Associates has bought office space on an acre at 1010 NE Fifth Ave. in Delray Beach (north of George Bush Boulevard). After a complete renovation, he’s aiming for a February 2013 opening, said David Fite. “Delray Beach is a vibrant community with great Intracoastal and ocean properties. It’s within our strategy. We recently opened in North Palm Beach, and Delray Beach is the next logical location for us to be able to service our clients.”
    Val Coz, who has moved from Premier Estate Properties to Fite Shavell & Associates, will spearhead the opening and recruitment. “When I worked for them previously, I obtained great results for my buyers and sellers,” Coz said. “Fite Shavell with offices in Connecticut, New York City and the Hamptons has a great referral system, and the company’s services are the absolute best for my clients.”
    Other agents who are moving in new directions are Steve Presson and Diana Reed.
Presson, previously with the Corcoran Group, was hired by Douglas Elliman to be managing broker in its Palm Beach office — which covers the area from Delray Beach to Palm Beach — but, after seven weeks, returned to Corcoran.  He was to manage and build the Elliman team as well as continuing with his sales career. “Both are full-time jobs,  and selling real estate is my first priority,” he said.
Marisela Cotilla, managing broker of Elliman’s Boca Raton office, has kept her position there and taken over Presson’s position. “I think we needed a different kind of experience — a little more gray in that market — I have a little gray in my hair. We are looking to grow in a very big way,” she said.
Diana Reed, previously with Illustrated Properties, now works out of the Palm Beach office of the Corcoran Group. She will continue to focus on Hypoluxo Island, Manalapan and Ocean Ridge. “The Corcoran Group is a great resource,” she said. “I appreciate being able to use the company’s tools and network.”
    William F. Koch III of William F. Koch Jr. has formed an alliance with Premier Estate Properties. “Bill has already relocated to our Delray Beach office. Other agents (at William F. Koch Jr.) are closing up their transactions and will join us within the next 30 to 60 days,” said Joseph Liguori, broker and owner of Premier Estate Properties. “We will be able to offer Bill’s clients Internet exposure with the international affiliations we have, and his 38-year sterling reputation in Gulf Stream is an added benefit to us.”
    Scott Gordon Realty has had its office in Plaza del Mar for a number of years, but moved to more visible offices in the plaza in summer 2011. Manal Hammad, Liana Verkaden and Ada Verkaden have joined the firm recently. Hammad had been with the Corcoran Group and the Verkadens were with Hampton Real Estate Group. The three said that they appreciate Scott Gordon Realty’s location and exposure.