Industry News

South Florida discounter makes mark in first year

Expert Realty offers 2.5% commission to consumers

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South Florida's real estate consumers are ready for broker commission discounts if the first year of a newly launched company from industry pioneer Glenn Cohen is any indicator. Deerfield Beach, Fla.-based Expert Realty, which launched a full-service real estate business offering 2.5 percent real estate commissions in May 2005, says in its first year it has achieved substantial growth and market penetration in South Florida's Broward and Palm Beach counties. "We've made a large investment in advertising and marketing and it's really paid off for us," said Cohen, founder and CEO of Expert Realty who also launched the low-commission real estate business model now known as Foxtons. Many real estate companies have expanded their sales force, number of offices and market share in recent years to keep up with booming sales activity and brokerage franchises have also swelled. In addition, the number of real estate licensees who are Realtors has skyrocketed to an unprecedented 1.2 million, ac...