Select Sotheby’s International Realty will double its listings and the number of agents serving in the Lake Placid, New York region following a merger with Century 21 High Peaks Realty.
Select Sotheby’s will add nine agents from Century 21, giving the brokerage 18 in the Lake Placid area and 60 total.
John Burke bought the Select Sotheby’s franchise rights in 2007 and opened his first office in Saratoga Springs. Since then, Burke has been working to expand the franchise’s footprint to luxury and resort areas around the state, opening offices in Lake Placid and Bolton Landing near Lake George. Burke said Select Sotheby’s now is tapping into high-end real estate markets in the Finger Lakes, the Catskills, Rochester and Buffalo.
The franchise had $120 million in overall sales last year, as volume grew about 35 percent over the previous year.
Burke said he began talking with Century 21 High Peaks about three months ago about a potential merger. Terms of the deal were not disclosed, but Burke said all of the agents will join Select Sotheby’s, including Century 21 High Peaks broker and owner Mike Damp.
Burke said the agreement will give Damp and his agents access to a big referral network and more marketing resources. Select Sotheby’s meanwhile is gaining access to agents who have strong ties and relationships in the Lake Placid area, Burke said.
Burke said he expects the total number of agents at Select Sotheby’s will grow another 30 percent or more this year.