Illustrated Properties Real Estate has announced the merger of its Palm Beach-based office with Valore Group Real Estate.
Following the unification, the companies now operate under the Illustrated brand and are based in Illustrated’s iconic office within the famous Paramount Theatre Building at 139 North County Road. That office will be expanded to accommodate the unified brands, with buildout expected to be completed in late 2017.
Florida Realtors Vice President Eric Sain will serve as District Sales Manager for the Palm Beach office. He has nearly two decades of Palm Beach real estate sales experience and is responsible for production, management, coaching and agent accountability. Additionally, his leadership in the real estate marketplace includes Florida Realtors Associate of the Year in 2010 and National Association of Realtors Leadership Academy graduate in 2012.
Illustrated has been a luxury leader in northern Palm Beach for 45 years. The strength of the Illustrated and Valore sales forces, which both operate as part of The Keyes Company’s Luxury Division, undoubtedly puts them in a class of their own in the prestigious Palm Beach market. The combined brands have 50 Sales Associates and sell one out of five luxury homes in northern Palm Beach County.
“Both Valore and Illustrated have seen consistent growth in luxury sales thanks to the dedication, work ethic and creativity of the incredible Sales Associates at both brands,” said Keyes CEO Mike Pappas. “Our position in the luxury market will only strengthen with the team operating under one roof – especially in a one-of-a-kind office location like the Paramount Theatre Building.”
Valore Group was started by Keyes’ Vice President of Luxury Kevin Leonard at the height of the recession. In 2011, Valore and Keyes joined forces. Valore has enjoyed double-digit luxury sales growth each year since its launch.
Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate. In 2016, Keyes listed more than $1 billion in luxury homes priced at $1 million or more.
Keyes is a Founding Member and Shareholder of Leading Real Estate Companies of the World®, a global network of more than 550 premier real estate firms encompassing 4,000 offices and more than 128,000 Sales Associates in 55 countries.
In July 2016, Keyes and Illustrated Properties announced the completion of a merger between the two companies, which continue to operate under their existing brands. Overall, Keyes and Illustrated generate more than $6 billion in annual revenue from their real estate service lines.
Following the merger, Keyes and Illustrated are, together, the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. In Palm Beach County alone, the companies have in excess of 1,100 Sales Associates and produce double the volume of their closest competitor.
Keyes and Illustrated control more than 20 percent of the $1 million-plus market in northern Palm Beach County.
To learn more about Keyes and Illustrated's luxury listings, check out CBS 12's "Mansion of the Week" real estate listings segment here.