On Tuesday, February 10th at 6:00 pm the paperwork was signed and Sudler Sotheby’s International Realty closed on its acquisition of Century21 Sussex & Reilly. This acquisition effectively doubles the size of Sudler Sotheby’s: it now has approximately 500 agents and 10 offices throughout Chicago.
As happens every time there are major acquisition rumors flying, brokerages from all over the city were calling agents trying to recruit them. Many Sudler Sotheby’s agents were called on Tuesday and even Wednesday and told that their brokerage was going under. The standard call went something like, “Do you know where you are going to go after your office shuts down?” Many Sudler Sotheby’s agents were certain they were going to see major change in their lives, only to find their company was the buyer, not the buy-ee.
Actually, all of the Sudler Sotheby’s agents I spoke with were thrilled with the prospect of Sulder Sotheby’s acquiring Sussex & Reilly’s highly regarded marketing department and very well respected agents. They also expressed optimism that having all the Sussex & Reilly For Sale signs converted over to Sudler Sotheby’s will result in more phone calls, more traffic to their web site, and simply more business for everyone.
Sussex & Reilly agents that I spoke with were a little more divided. One agent I spoke with commented that they were staying under the Realogy tent, so he thought not too much will change. I even spoke with one Sussex & Reilly agent who felt he would have even more opportunity at Sudler Sotheby’s.
The Agent Hunt Is On
I suspect Sussex & Reilly agents can expect their phones to be ringing off the hook for the next couple of weeks. Will it be new leads? No, it’s like to be every managing broker in the city trying to recruit them. Sudler Sotheby’s agents can probably expect far fewer calls, as this is being largely viewed as a positive turn of events for them.Email This Post To a Friend.