November 30th, 2015 2:10 PM by Nour Ailan
Beach’s biggest firms have significantly less agents than those in
Miami-Dade and Broward counties, their hooks remain the same:
competitive commission splits, technology and in-house tools and
The Real Deal ranked real estate firms in Palm Beach
County by the number of actively licensed agents and spoke to executives
about recruiting strategies, commissions and top sales for the year.
Here are the top five:
#1 Keyes Company | 526 agents
has 11 offices and four satellites in Palm Beach County, president Mike
Pappas said.The family-owned and operated firm targets a mix of newly
licensed and experienced agents. Keyes is on track to reach $4.3 billion
in sales this year, and hires more than 1,100 agents a year statewide.
most of its agents are in Miami-Dade and Broward counties, Keyes leads
the ranking in Palm Beach. The brokerage also has an in-house corporate
relocation program, based in West Palm Beach.
Keyes has recently
refinished or relocated up to eight offices in Palm Beach County. “We
think facilities still matter,” Pappas said.
Steve Reibel, vice
president of recruiting, previously said that commission splits between
the agent and company vary from 60 percent to nearly 90 percent,
“pending the level of production.”
Pappas has said the firm is “very aggression on splits.”
#2 Coldwell Banker | 466 agents
Banker has 10 offices in Palm Beach County, including Boca
Raton, Delray Beach, Jupiter Beach, Wellington, Palm Beach Gardens, West
Palm Beach and Boynton Beach.
Duff Rubin, regional senior vice
president, would not disclose the company’s commission split policy but
said, “We as a company try to be more of a value-proposition brokerage,”
including Coldwell Banker’s tools, management and support. “Commission
splits are typically based on production. You’re only as good as your
production,” he said.
The top sale in Palm Beach County was a
single-family home at 600 Northeast Fifith Avenue in Boca Raton.
Jonathan Postma had the listing for the property, which sold for $8.3
Rich Fleischer, regional vice president of Coldwell
Banker east central region of Florida, said sales are split evenly
between condos and single-family homes. “We do not focus solely on one
type of property or one specific price point. Our overall goal is to
ensure that the customer has the best real estate experience possible,
regardless of property type,”Fleischer said.
The company hires about 225 agents, a mix of experienced and newly licensed, in the county on an annual basis.
#3 Illustrated Properties | 435 agents
Properties has 23 offices in Florida. The firm offers online marketing
tools, a lead generation program, training classes and mentoring
programs, according to its website.
The company also provides in-house marketing.
Debbie Zuloaga, director of recruiting, could not be reached for comment.
#4 ERA Home Run Real Estate | 373 agents
Run Real Estate hires about 50 agents a year, owner Debbie Smith said.
The company has three offices in Palm Beach, including Palm Beach
Gardens, Royal Palm Beach and Lake Worth.
Smith said she doesn’t
pay for recruiting, and that ERA’s technology brings the majority of her
agents. Home Run offers services like a seller security program, a Palm
Beach County auction department and a Zap platform for its
agents.Smith also provides a real estate boot camp, which takes agents
from contract to closing.
Home Run, which was founded in 2003 and
affiliated with ERA in July, does not charge its agents monthly fees.
Smith would not disclose its commission split policy. It’s closed about
$200 million in transactions this year, Smith said.
#5 United Realty Group | 356 agents
Realty Group offers 100 percent commissions with a flat per-transaction
fee. The firm has four branches in Palm Beach County, according to
Melanie Brownell, director of recruitment. It hires on average 20 agents
The majority of sales in the county come from single-family homes, she said.
Realty, which is in the tri-county area and Orlando, doesn’t charge its
agents desk or franchise fees or provide training. It offers a 100
percent commission with a $299 transaction fee.
United Realty has $810.3 million in sales. The firm has 13 offices with
two additional locations opening early next year. Top sales this year
include a commercial sale in West Palm Beach in August for $4.8 million.