The formerly independent Massachusetts team The Pinnacle Group has relinquished its status as an indie to sign with Douglas Elliman, the company exclusively told Inman.
The eight-person team, established by agent Elaine Bannigan, will now work out of Douglas Elliman’s new office in Wellesley, Massachusetts, in the Boston area.
“We could not be more thrilled to welcome The Pinnacle Group,” says Scott Durkin, president and CEO of Douglas Elliman Realty. “Elaine has grown to become a pillar of the Wellesley community. We applaud her success and look forward to driving the team’s business to the next level at Elliman.”
Bannigan has worked in Massachusetts real estate for 37 years and has been presented with several awards, including the Better Business Bureau 2006 Torch Award for Ethics and Excellence, Business Professional of the Year from the Wellesley Chamber of Commerce and the Leadership Award from Wellesley Chamber of Commerce.
The Pinnacle Group is comprised of agents Cece Yan, Elyse Marsh, Jane Neilson, Susan Bevilacqua, Danielle Comella, Maureen McCaffrey and Susan Lyman. In 2022, the team logged $164,643,000 in total sales volume, according to a Douglas Elliman news release.
“Douglas Elliman has welcomed our team with open arms,” said Bannigan, founder of Pinnacle Residential Properties. “We are so impressed by the firm’s first-class resources in public relations, technology and marketing and look forward to helping Elliman expand its presence and reputation as a full-service, luxury brokerage throughout Massachusetts.”
The Pinnacle Group specializes in the Boston neighborhoods of Wellesley, Dover, Needham, Weston and Natick. Bannigan is the author of “The Pinnacle Report” a yearly data-driven report on the state of the Wellesley real estate market.
“The Pinnacle Group is a perfect fit for us,” Richard Ferrari, president and CEO of Brokerage NYC and Northeast at Douglas Elliman, said in a statement. “As a former owner of a top brokerage firm, Elaine brings an intelligent perspective on the real estate market to Elliman. We are proud to bring her and her hard-working team into the fold and better serve the communities throughout the western suburbs of Boston.”
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