Two independent resi brokerages merging, with lofty goals to become “Top 5” team


Vesta Preferred Realty and Newman Realty and merging to form RNP Realty Group


Chicago /
Oct.October 10, 2018 02:00 PM

From left to right: Grigory Pekarsky, Scott Newman, Brad Robbins

Two independent residential brokerages in Chicago are merging in an effort to diversify their business and compete with the biggest brokerages in the city.

Vesta Preferred Realty is merging with Newman Realty to form RNP Realty Group, named after founders Brad Robbins, Scott Newman and Grigory Pekarsky. With the new group, the partners have goals of becoming one of the biggest brokerages in the city, Pekarsky said.

“Now we can compete with the biggest players in the city,” said Pekarsky, who along with Robbins was a partner at Vesta. “Together we’re going to be top five.”

Merging the two brokerages will allow the new group to have a more diverse business, Pekarsky said. Vesta was rental-heavy and represented a lot of home buyers, while Newman was listings-heavy with a luxury and sports division, he said.

“It hits a lot of new territory for us that we probably wouldn’t have access to without bringing them on board,” Pekarsky said. The new team will consolidate into Vesta’s current offices in Wicker Park.

Vesta did $52 million in sales last year with about 135 transactions and Newman did $79 million with 200 transactions. RNP Realty Group will have 35 agents, Pekarsky said.

The move comes as the real estate industry sees increased competition from technology-focused brokerages like Compass and Redfin.

Scott Newman, the broker-owner of Newman Realty, said he wants the new brokerage to retain the “boutique” feel of a small firm while having the technology and customer service to compete with the new players.

The Vesta-Newman merger is the latest large personnel move on Chicago’s resi broker scene.

Last week, John Lawrence moved his Nickel Group to Berkshire Hathaway Home Services Koenig Rubloff. Earlier this year was Compass’s took over Conlon Real Estate in a blockbuster deal.


Related Articles

arrow_forward_ios
Fritz Kaegi, Cook County assessor (Getty Images, iStock/Illustration by Steven Dilakian for The Real Deal)
Cook County assessor Kaegi’s office collects $15M of ineligible tax exemptions
Cook County assessor Kaegi’s office collects $15M of ineligible tax exemptions
(iStock)
Strong Chicago homes sales in December set stage for a robust 2022
Strong Chicago homes sales in December set stage for a robust 2022
(iStock)
Chicago’s minority communities are billed far more for less water
Chicago’s minority communities are billed far more for less water
Compass poaches eight-agent @properties team
Compass poaches eight-agent @properties team
Compass poaches eight-agent @properties team
4559 S Prairie Ave (Zillow)
Why Bronzeville’s gentrification may become a model for other Chicago neighborhoods
Why Bronzeville’s gentrification may become a model for other Chicago neighborhoods
ESG Kullen's Eric Granowsky (principal an
d co-founder) and Tom DelPonti (founding principal) (ESG Kullen, The Oliver on LaSalle)
New York investor wants to cash out on condo-to-apartment converted building
New York investor wants to cash out on condo-to-apartment converted building
Chicago suburbs will be another sellers’ market this year: Coldwell Banker’s Dawn McKenna
Chicago suburbs will be another sellers’ market this year: Coldwell Banker’s Dawn McKenna
Chicago suburbs will be another sellers’ market this year: Coldwell Banker’s Dawn McKenna
Former NBA player Alec Peters selling condo at Chicago’s Three Sixty West (Compass, iStock, Illustration by Kevin Cifuentes for The Real Deal)
Former NBA player Alec Peters selling condo at Chicago’s Three Sixty West
Former NBA player Alec Peters selling condo at Chicago’s Three Sixty West
arrow_forward_ios

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

Loading...