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South Florida

Kevin Leonard now vice president of luxury at Keyes

Kevin Leonard and Mike Pappas
Kevin Leonard and Mike Pappas

The Keyes Company has promoted Kevin Leonard to vice president of its luxury division in a newly created position for the brokerage. 

Leonard, previously a director of luxury real estate at Keyes, said the firm closed $650 million in luxury homes last year, and plans to hit $1 billion in sales of $1 million and more.

Keyes merged with Palm Beach Gardens -based Illustrated Properties earlier this year, and Leonard said the firm has about 250 agents in its luxury division.

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Keyes and Illustrated initially nnounced their merger in July, saying it would create the largest independently owned firm in Florida. Together, the firms generate more than $6 billion in annual revenue and will likely dominate the residential market in South Florida based on sales volume alone.

In Palm Beach, the company’s closest competitor controls 6 percent of the luxury market, while Keyes has up to 20 percent in northern Palm Beach County, Leonard told The Real Deal. He declined to disclose which competitor.

Leonard joined Keyes in 2011, bringing his firm Valore Real Estate with him. He plans to target wealthy millennial buyers over the next three to five years.

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Keyes Company