Expecting to add five real estate brokers this year, a residential real estate firm has staked out new office space in Cherry Creek.
Berkshire Hathaway HomeServices, Rocky Mountain Realtors set up shop last month at Sixth Avenue and Columbine Street, a 1,100-square-foot storefront that had stood vacant since Pearl Street Fitness shut down its studio in June.
“We wanted to be in the Cherry Creek area, it has great frontage on Sixth Avenue and, most importantly, it has parking,” said Robert Shearman, co-owner and managing broker of the Cherry Creek office.
Berkshire Hathaway’s Cherry Creek office, which Shearman opened with co-owner Cheryl Guzofsky in April 2014, was previously based in a temporary Regus office in Cherry Creek.
Shearman said the Cherry Creek office has 18 real estate agents, and expects it will grow by 30 percent in the next six months. He said one draw for brokers to join the Cherry Creek office is a lower annual brokerage fee, which comes out to about $8,400 plus fees.
“We can save (brokers) probably $30,000 a year over a leading competitor,” said Shearman.
Additionally, like many brokerages, BHH Rocky Mountain Realtors brokers pay a 6 percent franchise fee to the affiliate out of commissions.
Last year, the Cherry Creek average sales price was $496,000, Shearman said, $100,000 more than the average sale price in the Denver metro area’s multiple listing service. Last year, Berkshire Hathaway’s 10 active brokers combined to sell 200 homes, Shearman said.
Besides Cherry Creek, BHH Rocky Mountain Realtors also has offices in Fort Collins, Boulder, Greeley, Loveland and Colorado Springs, and has 180 real estate brokers in Colorado.
There are other BHH affiliates in Colorado, including Berkshire Hathaway HomeServices Colorado Properties, whose offices include Vail and Beaver Creek.