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Closing Doors Opens New Opportunities

As many of you may know, earlier this week I moved my real estate broker's license from Coldwell Banker Hunt Kennedy aka Coldwell Banker Previews International to The Corcoran Group.

I often thought my next move would be to open my own shop one day. I was not looking to be associated with another brokerage, I was quite happy at Coldwell Banker Hunt Kennedy.

The move came quite suddenly. About two weeks ago the owner of the firm JoAnne Kennedy announced at our sales meeting that Coldwell Banker Hunt Kennedy will be closing after 21 years in business.

While I decided to go to The Corcoran Group for several reasons, I would like to thank the many fine brokers and firms in Manhattan that reached out to me when the news broke. I sincerely appreciate all the offers.

While I am saddened by the closing of Coldwell Banker Hunt Kennedy, I am excited and looking forward to many new opportunities at The Corcoran Group.

Coldwell Banker Hunt Kennedy was the 6th largest broker in Manhattan with 214 agents. The firm was founded by two former Stribling brokers JoAnne Kennedy and Will Hunt. The firm began from humble beginnings with its first office above a pizza parlor on Upper Broadway, specializing in high-end upper west and upper east side properties.

In 1996 the company became associated as a franchise of Coldwell Banker, the first national brand to enter the Manhattan market. CBHK had an impact on the way business is conducted in Manhattan. CBHK along with four smaller firms brought NAR, NYSAR and MANAR (Manhattan Association of REALTORS®) to Manhattan and started the Manhattan MLS.

Today MANAR has 48 member firms. Unfortunately they are all small sized firms. CBHK was the largest broker member. However, the presence of MANAR, a real MLS in Manhattan helped compel REBNY (Real Estate Board of NY) the dominant Manhattan real estate board to change many of its policies and add ethics requirements and rules including implementing the "24 hour" co broke listing rule.

To all my colleagues and friends from CBHK, I wish you all well at your new brokerages and look forward to doing deals together very soon.

Posted by Mitchell Hall - Manhattan Real Estate on 06/06/2009 10:41 AM

Comments (12)

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12 Comments on Closing Doors Opens New Opportunities

JUN

Mitch, having been through a bunch of ownership changes, it's always nice to land on one's feet. And you have surely done that! Still, it's hard to see a place you loved to work break up. I'm still missing Pardoe, and it's been a bunch of years!

Mitch - I wish you continued success in this exciting chapter of your career.

I'm sure you know I'm a big proponent of Independent Brokerages ..... so don't ever give up the thought being your own Broker.

It's the most liberating feeling imaginable.

Best wishes in your new company...you sound very proactive and also thoughtful/caring, all recipes for success.

Best Wishes! This is the first I heard that Coldwell Banker Hunt Kenndy is closing. Sad.

good luck and congrats on your move. I am sure it was a tough decision . But once made never look back !!

Hello Mitchell, I am sure you will do just fine in Corcoran Group. I think for others that are not in Manhattan New York Real Estate market it is hard for them to imagine that we do not belong to NAR nor have MLS. Good luck to your new venture!

Sorry to see your company close. Glad you landed on your feet.

I was with a local brokerage when they were "acquired" during the night by Weichert. It was a rough transition.

By all accounts, the Corcoran Group is a stable company. Of couse, one never knows in this market what will happen.

Pat, Right before I went into real estate I worked for an internet company that closed. Remember the dot com bubble? I was supposed to be a billionaire by now. They were planning on going public and I would just excersise my stock options.

Stewart, Thank you. The industry is changing, I won't give up the thought. The timing wasn't right. In Manhattan the big firms still get all the listings.

Li, Thank you. I appreciate your comment.

Maureen, It hasn't made the news in Ohio yet?

Charlie, Thanks. I agree its time to move on.

Eileen, Thank you. The Manhattan NY real estate market is very different than the rest of the country. It is hard for agents outside NY to imagine.

Lenn, Thank you. It's been a pretty smooth transition so far.

Mitchell, I wish you nothing but the best in your new "home." I'm sure it was a difficult decision but I know you feel confident you made the best choice.

JUN

Hi Mitchell... I am sorry to hear of CBHK's closing. As you know, CBHK was the brokerage that handled my co-op transaction when I moved to NYC for a few years in 2002. Best of luck to you with your new broker!

JUN

Thanks Mitchell, you said it well. I just did it with a few pictures.

As sad as it was leaving CBHK, I think great opportunities are ahead of us

SEP

Best of luck Mitchell.

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