Carolwood Partners takes steps toward launch

New boutique brokerage Carolwood Partners has inched closer to an official debut.

A couple of months after Hilton & Hyland star agent Drew Fenton and veteran broker Nick Segal filed registration papers for Carolwood Partners with the California Secretary of State, the fledgling company has listed three salespersons on its profile on the Department of Real Estate website.

The new salespeople are Richard Joel Maslan, a real estate agent who had been affiliated with Hilton & Hyland; Hilary Rose Markus, who had been affiliated with Douglas Elliman and Rodeo Realty; and Mary Shane McCoy Fermelia, also formerly affiliated with Douglas Elliman and Rodeo Realty.

Veteran broker Segal is listed as Carolwood Partners’ designated officer. Segal also serves as a broker associate for Avenue 8.

Listing salespeople is a significant step. Until recently, Carolwood Partners seemed to be a stealth business that existed only on paper. The company listed a business address, 9440 Santa Monica Boulevard #800, in Beverly Hills, but the office had no sign.

But that changed recently. Carolwood Partners’ name was listed on the building directory of 9440 Santa Monica. Earlier in the fall, the company also changed its classification from a limited liability company to a corporation. It’s an important switch because state regulations allow corporations and individuals to apply for broker licenses, but not LLCs.

Despite the softening of the real estate market, it is a good time to start a real estate business said Stephen Shapiro, cofounder of Westside Estate Agency, a luxe, boutique real estate firm in Beverly Hills and Malibu. “In a down market, agents are more likely to move,” Shapiro explained.

Shapiro also looked forward to some friendly competition. “I’m happy to see someone open a new boutique. There are only a few boutiques left: Westside Estate Agency, The Beverly Hills Estates, Nourmand & Associates, and there will be Carolwood Partners. We are a small community. These are local businesses who are paying attention to their local clients.”

However, there are unanswered questions about what’s next for Carolwood Partners. The Department of Real Estate still lists Fenton as affiliated with Hilton & Hyland. Fenton did not reply to an email requesting comment. Segal did not reply to a voicemail and an email.

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