Daniel Gale Sotheby’s International Realty has added its first office on the South Shore of Suffolk County with the acquisition of Meg Smith and Associates Real Estate in Bay Shore.
In recent years, the Huntington-based brokerage has expanded to the South Shore with offices in Long Beach and Westhampton Beach. He now has offices on Long Island and in Queens and Brooklyn.
“We had this big gap,” said Deirdre O’Connell, CEO of Daniel Gale Sotheby’s International Realty. “We had talked about this area, especially Bay Shore and Brightwaters, because in my mind it’s kind of underserved by a big brand.”
The median sale price for homes on the South Shore of Suffolk County, excluding the Hamptons, was $475,000 from more than 1,500 sales in the fourth quarter of 2021, according to data from broker Douglas Elliman and the firm of Miller Samuel assessment. Although this is lower than prices in other parts of the island, the median sale price increased by 11.8% compared to the fourth quarter of 2020.
O’Connell and Smith declined to disclose terms of the agreement. In addition to its strategic location, O’Connell said the new office fits well with Sotheby’s culture in how Smith works with clients and the 25 agents in his office.
“We believe that our owners and sellers should do the right thing. It’s more important than closing the deal, it’s doing it right and Meg totally believes in that,” O’Connell said.
Meg Smith started her own brokerage in 2010 after working for several real estate agencies and Century 21 Real Estate. She previously ran a kindergarten in Babylon and was inspired to work in real estate after a frustrating experience looking for a new space for the school in which her real estate agent tried to show her a restaurant as a new location. plausible.
She remembers thinking, “I’m going to get my real estate license because it was crazy.”
Smith said joining Daniel Gale Sotheby’s would allow him to focus on real estate sales rather than the administrative duties of owning the brokerage.
She said joining the larger company would give her agents access to technology and marketing expertise that she couldn’t offer on her own. They will also be able to work with Sotheby’s agents to help customers looking to leave Suffolk County. “As a freelancer, you don’t have the time or the resources or the staff to be able to focus on that,” Smith said of developing a referral network outside of the region. .
The Bay Shore office is the latest expansion for Daniel Gale Sotheby’s, which added offices in Cobble Hill, Park Slope and Williamsburg through its acquisition of Avenue Sotheby’s International Realty in Brooklyn late last year. The brokerage has approximately 950 agents in the region who work as independent contractors.
O’Connell said the company isn’t interested in adding agents and offices just to expand, and in some cases it may combine offices if it can better serve its markets. In one instance a few years ago, Daniel Gale Sotheby’s combined two offices in Roslyn and Old Westbury into one location at Wheatley Plaza in Greenvale.
“We took two good offices and made a fabulous office,” O’Connell said. “That’s the kind of thing you’ll see. It could be a little more square footage, if you bring in some desks, or maybe less square footage to have a more prime location.”