The new Cambridge office of Gibson Sotheby's International Realty has performed better than expected exceeding the audacious goals set by the top brass in the midst of historic inventory crunch.
"It was a market for which the Sotheby's brand is a natural fit; it's a prestigious community with an average sale price that is on the rise. But, we were going to have to do something that we hadn't really done before," said Larry Rideout, CEO and Owner of Gibson Sotheby's International Realty. "There just wasn't the opportunity for an acquisition in Cambridge. The market was entrenched with firms who had been operating in the same way for a very long time. So, we had to build from the ground up."
According to the press release of Gibson in Business Wire, Rideout together with his business partner Paul McGann set out their office in Cambridge on a space they have secured on the edge of Harvard Square. Then they began their journey on finding out the key players in the market. Not soon after, real estate veterans in the area with 10, 20, and 30 years of experience joined the new office space, creating a virtual tidal shift in the market.
"We were bowled over by the response from the agents in Cambridge," said McGann. "Our original goal was to have six agents in that office by the end of the year. Our amazing team grew to 20 in only seven months! We couldn't be more thrilled."
The newly formed team with the existing Gibson Sotheby's International Realty agents is comprised of The Lauren Holleran Team, The Dino Confalone Team, Anne Fantasia, Laura Palumbo Hanson, Lisa Godwin, the Lisa May and Lindsay Allison Team, Judy Carlough, Grace Liao Tannenbaum, Lizzy Flanagan, Susan Condrick, Laura Segal, John O'Neil, Max Dublin, and Lara Gordon.
The Cambridge office of Gibson Sotheby's International Realty topped $175 million of total sales in 2015.
"The inventory has been so low in these areas that the pressure is on for our agents and their clients. Our Cambridge team brings with them decades of experience. They are trusted names in their markets. The company's job is to do all that we can to support them and their clients in new ways," said Rideout. His leadership team has been working hand-in-hand with many of the agents, including directors of the Marketing, International Initiatives, Relocation and Productivity departments. "These agents are so very successful. I feel like, all the while we are working hard to get them to the next level, they are making us better as a firm," said Colleen Barry, Director of Productivity. "I am inspired by them -- it is a pleasure and honor to work with them every day."
