High-end residential real estate broker HÔM Group will become an affiliated member of the Sotheby’s International Realty network as of Oct. 1, and the offices and agents of Coast Sotheby’s International Realty will become part of HÔM Group.
“We’re very excited by this opportunity,” said HÔM Group chairman Mike Shapiro.
Shapiro said HÔM Group will have an exclusive trade area from Manhattan Beach south to Torrey Pines, as well as Sotheby’s international brand to market to potential clients worldwide.
He stressed that HÔM Group remains independent and will retain its name and brand identity, adding, “Its exciting to grow in this market.”
Shapiro said that since 2007, HÔM Group’s sales have grown from $200 million to an estimated $1 billion for 2011. He projects sales of $1.5-2 billion for the expanded HÔM Group in 2012.
HÔM Group has five offices in Southern California now and will add Coast Sotheby’s Laguna Beach and Rancho Santa Fe offices on Saturday. Shapiro said he is planning new offices in Del Mar, Manhattan Beach and Palm Springs within 18 months. He also expects HÔM Group’s agent count to rise from the current 187 to about 300.
“With the economy in disarray, we needed to do something to solidify our leadership in the market area,” Shapiro said, adding that with buyers increasingly coming from overseas, he was trying to find a way to establish an international brand, as well.
The Sotheby’s affiliation addresses both goals, he said.
“It’s an incredibly strong company,” Shapiro said. “This gives us a whole other array of tools to market our properties.”