The Keyes Company acquired a boutique brokerage in Boca Raton, expanding its presence in Palm Beach County.
Keyes closed on the acquisition of Zeuner Realty, a 15-agent office that specializes in the Boca Pointe neighborhood, according to a press release. The firm will keep its office at 6909 Southwest 18th Street, unit 116.
The firm is led by the Zeuner Team, which consists of Doris and Stuart Zeuner, Shari Zeuner Schwamm, Craig Zeuner, Marci Burkin and 10 other agents. The office closed on about $35 million in sales volume last year, according to the release.
Steve Reibel, senior vice president of Keyes, said in the release that the company continues to grow via acquisitions. “Profit margins are tightening in the brokerage industry, so we’re seeing more and more consolidation of firms,” he said.
In February, Keyes’ Illustrated Properties closed on the acquisition of Jupiter Hills Village Realty, a 10-agent firm in Tequesta, just north of Palm Beach County.
Last year, Keyes brought on the Fort Lauderdale-based Coloney Group, a 30-agent group. And in 2018, Keyes acquired Rickenback Realty in Key Biscayne, the Palm Beach County Realty Group of Boynton Beach and the Realty Pros, also in Boynton Beach.
Keyes has 58 offices and more than 3,000 agents in six counties in Florida: Miami-Dade, Broward, Palm Beach, Martin, St. Lucie and Volusia.