William Raveis Real Estate, Mortgage & Insurance continues its East Coast expansion with the acquisition of luxury and family-owned brokerage Fenton & Lang, marking WRRE’s entry into Florida’s Jupiter Island and Hobe Sound market.
“Jupiter Island further connects the dots between our strength in the Northeast to the luxury communities in South Florida,” Founder, CEO and Chairman William Raveis said in a press release. “Slowly but surely, we’re conquering the luxury market, one luxury community at a time.”
Fenton & Lang’s two Treasure Coast offices are now part of the WRRE brand, along with brother-sister duo and co-owners Adrian Reed and Lia Reed Bohannon, who have a long family history on Jupiter Island. According to the release, their grandparents were integral in the preservation of Jupiter Island, one of the most unique communities in the country, according to the press release.
“As a family-owned and run company, they make decisions like Lia and I do: we come together as a family, talk it through and make the best possible choices,” Adrian Reed said in the release. “We share a supportive culture, and we look forward to building on that within the Raveis’ footprint.”
The acquisition brings the total number of William Raveis offices in Florida to 16. Since opening its Naples office in 2016 and expanding to Palm Beach in 2018, the company is on track to close more than $3 billion in sales in the Sunshine State. The acquisition continues to broaden the firm’s network from areas in the Northeast, including Nantucket, Wellesley, Greenwich, Westchester and Manhattan to Naples, Palm Beach and now Jupiter Island.
Raveis said his strategy for entering these markets is to look for “independently owned, boutique companies, which are usually family run or a partnership.”
“Unlike our competitors, who just look at size, we are seeking out small brokerages with large impacts on the community and that command the luxury market,” he said.