Byeku*, Greenwich Fine Properties

Could be worse: they might have have been made part of the BLT/Sotheyby's sandwich

Could be worse: they might have have been made part of the BLT/Sotheyby’s sandwich

The Mickster reports that Greenwich Fine Properties has gone over to Coldwell Banker. This is hardly a surprise; the husband – wife team that owned GFP split long ago and the firm has seemed a bit shaky since. Great agents, but rot starts at the head, and all that. A handful of agents departed last month for Houlihan Lawrence and now it seems, the rest will be serving under Coldwell’s corporate master,Realogy.

In my experience, none of this makes any difference to the agents involved, nor should it to their customers. Brokerages, unlike agents, are all the same.

* A creation, I believe, of James Taranto of Best of the Web, meaning a haiku for departing souls. Like this:

A tidy boutique

Dissension among partners

Sold to the banker


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22 responses to “Byeku*, Greenwich Fine Properties

  1. Mickster

    The reality in Greenwich is that we are slowly becoming a 2-firm real estate market – Sothebys and Coldwell Banker – both owned by NRT, the largest real estate brokerage in the nation. All the other firms are losing market share year over year. In the higher end of the market, you’ll see these 2 doing 90% of the sales. It remains to be seen how long the boutiques last.
    American believe in brands. Market results prove that time and again.

  2. Anonymous

    What about Prudential? Especially in Riverside/OG

    • Well that’s now Berkshire Hathaway, no?

      • Mickster

        Yeah, BH just launched a new RE franchise in about 7 states. Time will tell how it does. However, they’re a small player in town, especially after losing a couple of heavy hitters to HL last month.

      • Peter Helie sold to BH over a year ago. The signs have not changed yet; it depends when his franchise agreement ends with Pru. Berkshire had previously bought Pru franchises the past several years and they could keep the Prudential rock emblem, etc.
        BH just purchased the largest Pru broker, Fox & Roach in Philly. They are growing and spending, and picking up Pru franchises where they need to fill in the gaps.
        Do not discount Ogilvy for the high end homes in G-Town, or Raveis for the middle market. It will be interesting how Houlihan Lawrence fares in this town over the next few years…

  3. Mike

    being that the entire town moves when Warren Buffett does my bet is all the hedge guys, Wall St, finance etc… 80% of Greenwich proper list with BH . Sothebys will lose the big tickets soon.

    • I can’t imagine hedge funders being naive enough to believe that listing their home with a division of Berkshire Hathaway instead of, say, BLT or Realogy will make a speck of difference. BH also owns Sherwin Williams – will these people start specifying that brand to their painters?

  4. edgewater

    i don’t know anything about real estate [that’s why i read this blog], but it’s the buffet connection that has me going to dairy queen.

  5. ShedLessToolMan

    What of William Raveis?

  6. Mike

    lets see, I hardly think listing a 10 mil home at BH real estate is the same as a can of paint . I would assume that Buffett is not a moron and is planning on making his firm the most exclusive in town. Rumor has it that the services about to be offered to buyers and sellers at BH are going to rock the real estate tree ! in the near future going to any other firm with a 5 mil or more listing will seem uncivilized and not trendy. (isn’t that the Greenwich way?)

  7. Anonymous

    Why is there so much consolidation occurring now? Did the business become more attractive to the consolidators, or are the boutiques cashing out while there is still a bid for the business? It does seem like there has been a flurry of activity recently.

    Will Lockwood and Mead sell to Sothebys or Caldwell?

  8. FF

    Shameless plug – we Lockwood and Mead-ers provide service one-on-one instead of mass corporate internet plugging. There are only five of us, but in many respects we are the last of the old-fashioned realtors. A few, good close clients for whom Chris has more Democrats and I have more republicans, we put the clients needs above all that corporate gobbledygook.
    Realtors welcome to join if all those absurd rules drive you insane.