The Agency Development Group Launches New Suburban Home Sales & Marketing Division

The Agency Development Group
Photo by T M on Unsplash

The Agency Development Group has announced the addition of a new operating division that will principally focus on marketing and selling single-family subdivisions, suburban infill communities, multi-million dollar clusters of upscale custom homes and smaller master-planned communities for privately owned and operated homebuilders. The Agency is a full-service, luxury real estate brokerage and lifestyle company representing clients worldwide in a broad spectrum of classes, including residential, new development, resort real estate, residential leasing and luxury vacation rentals. Since its inception in 2011, the team has successfully launched or repositioned preeminent properties, including as The Ritz-Carlton Residences at L.A. Live, One&Only Mandarina Private Homes, among the first One&Only-branded residences in the world, Mandarina Oriental Private Residences – Beverly Hills, Mayakoba – Riviera Maya, MX, and more. 

The Agency Development Group, New Home Sales is led by Mike Leipart, Managing Partner of New Development, and Tom Reiser, Managing Director of New Home Sales.

Leipart

For The Agency, why the suburban new homes division, why now?

Adding a new homes division and operational group focused on suburban communities is a natural extension and expansion for The Agency Development Group. One of the things that the leadership team at The Agency recognized during the pandemic, and research we conducted in the past year supported it, is that people, families and especially professionals from all industries, particularly technology and the gig economy, can live and work anywhere – remotely, and they are making lifestyle choices to live in active, outdoors-oriented residential communities. People are nesting more, want more space, and not just for home offices. Residential building in the suburbs throughout the West has been on fire, as it has in other areas of the country, such as Nashville, Dallas, Austin, and Tampa.

What kind of suburban community builders are you targeting, and what is the range in number of homes they are building/selling per community?

We will be doing business with small and medium-sized, privately-held homebuilders that design and build suburban communities, just like we have at The Reiser Group since 1999. Essentially all of the non-national homebuilding companies that do not have in-house sales and marketing teams are prospective clients of ours. These could be infill communities with as few as a dozen high-end, custom homes or 40, 50 or 100+ homes in the respective communities.

Given The Agency’s brand in the residential real estate industry, which is high-end, luxury, is there a minimum price point for single-family homes and listings? 

We will be working with and supporting builders that sell their homes from the $500,000s into the more custom, multi-million dollar homes on larger lots and in residential submarkets that can support that price point. Demand is across the spectrum, for starter homes, move-up home buyers and luxury, custom homes.

Are you looking to serve and support townhome and suburban condo builders, or just single-family residences?

Of course. Including condo conversions. Over the years The Reiser Group has sold townhomes and suburban condo developments, and has also done many conversions from apartments to residential condominiums, and served those developers until the entire inventory was sold out.

Reiser

How do you plan to leverage The Agency’s lifestyle brand into new home sales?

The Agency is recognized as one of the fastest-growing boutique luxury real estate brokerages in the world. In 2021, the firm’s global expansion reached new heights with a record-breaking launch of 11 new franchises in one year. The New Homes division complements the existing platform. 

What are some advantages to hiring The Agency’s New Homes Division vs. builders just hiring local Realtors’ to list their homes? 

Our business model with new homes sales and selling entire communities from pre-sales of the first release to that final home built by the developer is served by a staff of trained professionals that are only assigned to the communities our builder clients hire us to market and sell. There is also a bigger marketing component to selling new home communities, and we work with our marketing partners to integrate the sales and marketing operations to maximize value and results for our clients. Our sales teams learn the products they are selling and are not looking at the broader market of resale homes for sale. There is greater focus and attention to the builders’ product. In addition, we have structured relationships with preferred lenders, which in turn have their own mortgage lending systems, and there are advantages to being both a builder and a buyer in these cases.

You’ve stated that the JV formed between The Reiser Group and The Agency Development Group will initially be focused on serving homebuilders in the Western U.S. and then expand into other markets throughout the country. Can you be more specific as to which markets you will be targeting initially?

The Reiser Group, which Tom Reiser founded in 1999, and has successfully completed the sellout of more than 150 communities and 7,000 homes throughout California, valued in excess of $5 billion. New home subdivision sales managed by Reiser and his team will operate and be branded as The Agency. For initial target markets, they include but are not limited to the following:

  • Northern California including the San Francisco Bay Area, Sacramento and Central Valley
  • Southern California
  • Reno
  • Las Vegas
  • Salt Lake City + Utah’s Mountain Resort Areas such as Park City
  • Denver, Boulder & Colorado Springs and Colorado’s Mountain Area Resorts
  • Boise
  • Phoenix

These are among the fastest-growing residential communities in the West and also have some of the greatest home-price appreciation in the last couple of years. They are attractive markets for homebuilders.

West Coast Commercial Real Estate News