Coldwell Banker Premier Properties announced Thursday that it’s joining the Schmidt Family of Companies, a massive real estate firm consisting of more than 90 Coldwell Banker offices and more than 2,000 agents.
The Florida-baesd Coldwell Banker Premier Properties, founded by Steve Cupolo, is ranked one of the top 50 Coldwell Banker franchises nationally, according to the Real Trends 500. The brokerage closed 1,323 transactions for more than $400 million in sales volume in 2019.
“The Schmidt Family of Companies is the largest company in the Coldwell Banker network based on the number of offices,” Cupolo said. “The level of sales and marketing resources and support will allow us to further solidify our already strong regional presence and enhance the outstanding customer service we provide to our agents and our clients.”
“We are most excited about leveraging the luxury home marketing program that the Schmidt Family of Companies has perfected and help expose our high-end listings,” Cupolo added. “We now have access to a dynamic, innovative and world-class in-house marketing group, complete with graphic designers, digital marketers, digital media and technology experts.”
Coldwell Banker Premier Properties, which will retain its name, has 11 offices and 250 agents serving eastern Florida from St. Augustine and northern St. John’s County down through Daytona Beach.
The Schmidt Family of Companies, meanwhile, operates on both coasts of Florida, western and northern Michigan, northeast Ohio and the U.S. Virgin Islands.
“As we have grown from our roots in northern Michigan and into the Cleveland area, we strategically chose to expand further with a concentration in Florida,” Ken Schmidt, CEO of the Schmidt Family of Companies, said in a statement. “Coldwell Banker Premier Properties is another that affords us the opportunity to focus on waterfront, resort and luxury markets where our experiences can assist in growth.”
The move follows a recent trend of brokerage consolidation in the wake of COVID-19, something a number of real estate leaders have predicted. However, this isn’t the first acquisition for the Schmidt Family of Companies; last year, the brokerage acquired Coldwell Banker Paradise, another Florida franchise.
COVID-19 has not dramatically alter the region’s housing market. Both the number of sales and average home price are up roughly 5 percent, year-over-year, according to Cupolo, while the luxury market is up 16 percent in sales and 13 percent in volume.