Spire’s Kevin Kurland sells stake in 100% commission firm

Co-founder Bianka Yankov steps up as CEO

TRD New York /
May.May 24, 2017 08:00 AM

Kevin Kurland, a co-founder of the residential brokerage Spire Group TRData LogoTINY, has sold his stake in the 100 percent commission firm.

Kurland, who previously ran Kurland Realty before launching Spire in 2011, told The Real Deal that he’d been looking to exit the company. “I ran two brokerages consecutively for about 18 years,” he said. “An opportunity presented itself for me to get a nice payout. I was on board with selling my shares.”

Terms of the deal, which closed March 31, were not disclosed. Spire co-founder Bianka Yankov is stepping into the CEO role.

Kurland will be a full-time agent for at least a year, focusing on selling luxury real estate until that time. But he’s also plotting his next move, hopefully working in-house for a developer or property management company. “I can grind,” Kurland said, ‘[But] I want to do something different with more of a marketing focus.”

As one of the city’s few firms that pay agents 100 percent commission, Spire ranked No. 11 on The Real Deal’s list of mid-sized firms in 2015 with $21 million in listings at that time. The firm, which has 135 agents, fell off of last year’s list with $19.9 million in listings, according to TRD data. Kurland said 40 percent of Spire’s deals are sales; the other 60 percent are rentals.

He said he’s still bullish on Spire and the 100 percent commission model, which is shared by companies like Charles Rutenberg and Kian Realty.

“We think the industry is heading in that direction,” he said. “We attracted a lot of good agents so I think the future is bright at Spire.”


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Public Advocate Jumaane Williams (Getty; iStock)

“It’s compliance warfare”: Industry slams landlord accountability bills

“It’s compliance warfare”: Industry slams landlord accountability bills
Stephen Ross and Time Warner Center (Getty)

Stephen Ross slashes price of Time Warner Center penthouse

Stephen Ross slashes price of Time Warner Center penthouse
AMC’s financial woes have left the movie theater chain strapped for cash and facing in-court restructuring of its liabilities. (iStock; Getty)

AMC faces serious cash crunch despite theaters reopening

AMC faces serious cash crunch despite theaters reopening
Pretium CEO Don Mullen and Ares Management CEO Michael Arougheti (Photos via Pretium; Getty)

Pretium, Ares agree to buy Front Yard Residential

Pretium, Ares agree to buy Front Yard Residential
Brooklyn’s home sales dipped in Q3, but the median home price was above $900K (iStock)

Brooklyn home sales drop by 57%, but prices rise

Brooklyn home sales drop by 57%, but prices rise
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...