Onstead & Black Real Estate Group to expand Coldwell Banker development services business
Coldwell Banker Residential Brokerage, the leading real estate services company in the Sacramento-Tahoe area, announced today that two of Sacramento’s most successful and influential Realtors and their team of nine other agents are moving to the company from Lyon Real Estate.
Annette Black, Lyon’s top producing agent in downtown Sacramento and one of the top five Realtors in the company, and Michael Onstead, director of real estate developer sales and services for Lyon and the area’s top listing agent, will join Coldwell Banker Residential Brokerage. Accompanying them will be nine other agents from Lyon, and the team of agents will join forces as the Onstead & Black Real Estate Group in Coldwell Banker’s Sacramento Metro office.
In his new role, Onstead will head up Coldwell Banker Residential Brokerage’s Development Services unit in the Sacramento market. Black will also work with developers, as well as continue to serve the needs of existing home buyers and sellers as she has throughout her award-winning 25-year career.
“Having Michael, Annette and their talented team of agents make this move is arguably one of the most significant events in Sacramento real estate in years in terms of the caliber and quality of the agents,” said Kris Vogt, president of Coldwell Banker Residential Brokerage. “The additional business and regional exposure that Coldwell Banker immediately gets from these highly successful veterans is immeasurable.”
Black and Onstead were responsible for more than 70 home sales last year totaling more than $25 million in sales volume. Additionally, Onstead has been responsible for managing more than $100 million in new construction property listings, making him the largest listing agents in the Sacramento region.
Joining the two Realtors are former Lyon sales associates Diane Berry, Renee Liddie, Ludwig Malek, Wanda Noack, Dianna Novela, Kathy Pardun, James Pardun, Katie Trekur and Patricia Yochum.
The addition of 11 new agents to the Sacramento Metro office is just the latest in a rapid expansion by Coldwell Banker Residential Brokerage over the past eight months. The company had added more 150 real estate professionals to its Sacramento-Tahoe area offices since last year, including a number of the top agents from competing local brokerages.
In all, the new agents were responsible for more than $250 million in sales volume at their previous companies over the past year.
Vogt said the agent growth has been critical as Coldwell Banker Residential Brokerage works to meet growing customer demand for its homebuyer and home sales services in the Sacramento area. During the first three months of 2011, the company’s sales volume has soared 19 percent from a year ago – during a period when the overall market saw a drop in sales volume.
“We’ve had a great deal of momentum in the past eight months with new business and with some of the most successful agents in the Sacramento area moving their practice over to Coldwell Banker,” Vogt said. “It’s no secret that the housing market is challenging right now, so I think veteran agents are realizing that it’s more important than ever to get the resources, professional services and business network of the top brand in the industry.”
Onstead and Black said they made the decision to join Coldwell Banker Residential Brokerage for a number of reasons, including the extensive marketing support, advanced technology, national network of referrals and other broker resources that Coldwell Banker offers.
“Moving to Coldwell Banker was an important business decision to move my team forward with Michael’s team, to expand our reach and grow our new home sales business,” Black said. “We really thought being with Coldwell Banker was best for our team and our customers.”
For Onstead, the opportunity to tap into Coldwell Banker’s experience and resources in the real estate development arena was a powerful attraction. Coldwell Banker Development Services is a major player in other parts of the country, and the company wants to expand the business locally.
“The more I learned about Coldwell Banker and the wealth of resources available to us, the more convinced I was of the tremendous potential to expand the real estate development services business here in Sacramento,” Onstead said. “They really have the systems and processes in place from other parts of the country and the management commitment to do this on a really big scale.”
Throughout her quarter-century career, Black has consistently been among Lyon Real Estate’s top agents. For the past decade she has been the number one agent in the downtown Sacramento office and among the top one percent of all agents in the company. She specializes in the downtown area, as well as East Sacramento and Sierra Oaks.
Onstead has been a Realtor with Lyon for the past 14 years and has among the Sacramento area’s top agents throughout that period, including being named a life member of the Masters Club. In 2005 he helped launch Lyon’s new home marketing division and helped grow the unit into a leader in Sacramento market.
The Onstead-Black team can be now be reached at Coldwell Banker Residential Brokerage’s Sacramento Metro office located at 730 Alhambra Blvd. Annette Black can be reached directly at 916.826.6902 or via e-mail at firstname.lastname@example.org. Michael Onstead can be reached directly at 916.601.5699 or via email at email@example.com.