Cape & Islands News

Atlantic Realty merges with Kinlin Grover Real Estate

Companies have two biggest market shares in Lower Cape
Both firms now a part of Randall Realtors & Brookfield Residential

Atlantic Realty, formerly affiliated with Coldwell Banker, is merging with Kinlin Grover to form a Lower Cape powerhouse with nearly four times greater market share than any other real estate company in the region.

"We remain very bullish about the Cape Cod housing market, and particularly the Lower Cape, where home sales and prices, have been very resilient." - Bett McCarthy

Together, the two companies historically account for 32 percent of all residential transactions across Orleans, Brewster, Eastham and Harwich. The next biggest company in terms of transactions and sales volume has six percent of the market.

Atlantic Realty, established more than 25 years ago and with offices in Orleans and Brewster, will become wholly owned by Kinlin Grover, with its founders, Lee Sullivan and Dick Eble, joining Cape Cod's largest real estate company. Eble is joining the Kinlin Grover management team and Sullivan will focus on marketing and sales. Its 22 agents are transferring to Kinlin Grover's Brewster and Orleans offices where they join the company's 250 other agents in 11 locations, located from Wellfleet to Falmouth.

The merger, announced Monday, comes only months after Kinlin Grover itself was acquired by Randall Realtors, a family-owned company with 150 agents and offices from Mystic, Connecticut to Charlestown, R.I.

Earlier, Kinlin Grover acquired Dream Homes in North Falmouth, formerly a Century 21 affiliate, solidifying its growing presence in the Upper Cape. Its owner, Doug Azarian, also joined Kinlin Grover at the time.

All this expansion is occurring despite the deepest housing downturn in decades. "We remain very bullish about the Cape Cod housing market, and particularly the Lower Cape, where home sales and prices, have been very resilient," said Bett McCarthy, executive vice president of Kinlin Grover, who oversees the entire Cape.

McCarthy reports improvement in the residential market during the last three months, compared with a year ago - with prices for homes under $500,000 actually rising slightly after more than two years of declines.

Randall says it was attracted by Atlantic Realty's family-oriented culture and the extensive community involvement over decades by Sullivan, Eble and their agents.

"It's all about relationships and credibility in the community," he said. "Lee and Dick have dedicated their lives not only to their business, but to their towns and many philanthropies."

Sullivan founded the Orleans Pops in the Park that raises tens of thousands of dollars for scholarships at Nauset Regional High School. She also has chaired the Town of Orleans Fourth of July Committee, while serving as president of the Orleans Chamber of Commerce, director of the Orleans Improvement Association, president of Nauset Rotary, director of Lower Cape Outreach and trustee of the Cape Cod Symphony.

Eble, who is married to Sullivan, has been past president of the Cape Cod & Islands Multiple Listing Service, director of the Cape & Islands Association of Realtors and director of the Orleans Chamber of Commerce.

"The timing to associate with Kinlin Grover is opportune," Eble said. "This preserves our local identity and connections to the community under family-owned leadership," he explained. "At the same time, we now have far more support - from technology to global marketing. That let's us focus on the most important priorities - our buyers and sellers."

Kinlin Grover and Randall Realtors are part of Brookfield Residential Property Services, which has acquired GMAC, and provides global marketing support to both companies.

Source: Ritt Communications.