An eight-person residential sales team formerly with Side is heading to Coldwell Banker with plans to split its time between the agency’s Los Gatos and Oakland-Piedmont offices.
Onyx Wealth Realty broke away from Side-affiliated Real Estate Experts in Campbell in 2021. After two years, the group was attracted to Coldwell’s referral opportunities, agent support and “strong brand name,” resulting in a new partnership, co-founder Nneka Jenkins said in a press release.
The team closed more than $120 million in sales last year, with an average price point around $1 million. The group works throughout the Bay Area and is particularly well set to assist non-English-speaking clients since between the eight agents they are fluent in Arabic, Farsi, French, Georgian, Russian, Spanish, Turkish and Vietnamese.
They also have a focus on assisting first-time homebuyers as they’ve “seen and experienced the racial wealth gap firsthand and know one of the best ways to close it is to educate and assist those disadvantaged groups by becoming luxury property owners and investors,” Jenkins said in the release.
More agents are looking to make moves this year than last year, according to a recent national Coldwell survey of 1,500 Coldwell and non-Coldwell agents. Only 61 percent planned to stick with their company this year, compared to 75 percent who said the same in 2023.
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Top agents are looking for leadership, enhancements to their clients’ experiences and opportunities to collaborate with other agents in a “changing market environment,” said Alan Scearce, Coldwell’s regional vice president, who oversees the Peninsula and Silicon Valley.
“Talent attraction is all about identifying positive, productive and client-focused agents, forming a personal relationship and focusing on how we can best support them to grow their business,” he said.
Nneka Jenkins has been in real estate for six years, while her husband and Onyx co-founder Calvin Jenkins Jr. is a U.S. Air Force veteran who became an agent in 2019.