Sarasota Waterfront Luxury Real Estate

The Upper End: Win, Place, or Show?

2010-04-27T15:21:00.000-04:00

Luxury Real Estate in Sarasota Selling in 1st Quarter

2010-04-05T11:15:00.003-04:00

I am so happy to report that the first quarter of 2010 for luxury real estate in Sarasota sales looks nothing like it did a year ago! This year at the end of the quarter, 82 properties with list prices over $1,000,000 are under contract while 55 ($1m+) properties have actually sold and closed!

While many of these contracted properties are short sales and foreclosures (at least 1/3 in both categories), inventory is finally being moved and buyer's choices are rapidly dwindling.

SalkinSoublis have just listed a gem of a home poised on a deepwater basin on North Siesta Key at 930 Siesta Key Place. It's been totally and tastefully redone and we have it listed at a very reasonable $1,495,000. Take a tour, Sunday April 11 from 1 to 4 p.m.

2010-The Year of Waterfront Living in Sarasota

2010-03-11T14:11:00.004-05:00

The tides are turning....

In the first 60 days of 2010, 46 waterfront homes with list prices over $1 million have either closed or under contract in Sarasota.

We still have some great properties in our inventory...but, showings are way up over last year and people are buying their dream homes on Sarasota's waterfront!

Baby Boomers Get Connected with Social Media - eMarketer

2010-01-28T12:21:00.001-05:00

We are all connected! Read this great article showing the embrace of social media by the Baby Boomers! SalkinSoublis are connected. Join us on Linked In, Twitter and Facebook!

Baby Boomers Get Connected with Social Media - eMarketer

Today's Hottest Home Trends

2010-01-27T14:31:00.002-05:00

The February edition of REALTOR magazine featured 12 Hot Home Ideas....

1. INDUCTION COOKING-Why trendworthy: 30% more efficient than gas or electric.
2. ENVIRONMENTALLY FRIENDLY CABINETRY-Why trendworthy: Popular with green movement.
3. ENERGY-SIPPING REFRIGERATORS-Why trendworthy: Pares the electricity consumption of a standard guzzler
4. INTEGRATED STONE COMPOSITE SINKS-Why trendworthy: They blend seamlessly into a countertop for a cleaner look, plus they are more durable and easier to clean.
5. WHITE AND BEIGE COLOR PALETTES, SOME GRAYS AND PINKS, BOLD ACCENTS-
Why trendworthy: Less intense colors to calm jittery nerves.
6. CONDO HOME OFFICES- Why trendworthy: To help home owners maximize small spaces-and obtain a tax deduction.
7. INTERIOR WALL TREATMENTS BESIDES PAINT-Why trendworthy: Easier to install; more personalized patterns, colors, textures
8. DO-IT YOURSELF PROJECTS-Why trendworthy: Less costly, more personal.
9. OUTDOOR CURTAINS-Why trendworthy: Even backyard "rooms" require some privacy
10. DUAL-FLUSH, ENVIRONMENTALLY EFFICIENT TOILETS, PLUS MORE HEALTHFUL DESIGNS-Why trendworthy: Greater recognition that liquid and solid waste have different flush requirments.
11. 3-D HDTV-Why trendworthy: Images are becoming more lifelike.
12. RELAXATION RETREATS-Why trendworthy: Increased need to unwind.

$2 Million Price Reduction on Sarasota's Bird Key Most Gorgeous Bayfront Residence

2010-01-08T10:54:00.022-05:00

It takes a very special property to cause seasoned Realtors participating in Sarasota Luxury Real Estate to "ooh and aah" and pull out their Blackberry contact list. They recognize that we have now arrived at "sweet spot" pricing on our listing at 467 Meadow Lark Drive on ultra-convenient Bird Key located minutes between Lido Beach and Downtown
Sarasota.

Very few properties in the area rival the beauty of La CasaBella on Sarasota Bay with old-world Italian detailing and craftsmanship and the magnificent vision of Addison Mizner's iconic Florida design. Vast, open interior spaces with its multitude of columns and archways gracefully transitioning to courtyards, loggias and the coral stone pool deck.

And the views? Only the best in Sarasota, stretching 143' across Sarasota Bay with a lighted boat dock with both boat and kayak lifts.

Hopefully, you have received your Realtor phone call...if not, feel free to contact us at our Longboat Key Office (941) 376-6121 for a personal tour.

Sarasota's 2009 Luxury Real Estate Sales

2010-01-06T15:53:00.005-05:00

Fifty-three residential properties with a sales price of over $2,000,000 SOLD in Sarasota and on her barrier islands in 2009. Out of these 53 sales, 50 of these luxury properties were either on the beach or on boating water. Paulene and I have said for years ...if you can...BUY on the water!

There were 35 single family homes sold...32 were on the waterfront. 18 luxury condos sold and they were either on the Beach or Downtown.

Here's a quick look at what lifestyles and where buyer's choose to live last year

Single Family Homes

11 Sarasota Mainland

4 Longboat Key

10 Bird Key/Lido Key

6 Siesta Key

4 Casey Key

Condominiums

2 Sarasota Mainland

5 Longboat Key

8 Bird Key/Lido Key

3 Siesta Key

With only six days into the new year, we are already seeing lots of interest and multiple showings on our high-end luxury listings. If you have been waiting on the sidelines, it may be time to jump into the game before all the prime inventory is gobbled up this season.

LARGEST RESIDENTIAL SALE IN 2009

2009-12-08T16:14:00.004-05:00

With great glee, I am proud to announce the sale of 1588 N. Casey Key Road. An unbelievably gorgeous gulf-to-bay manse with all the "bells and whistles". List price: $11,500,000. Sale Price: $9,900,000.

As we forecast 2010 sales, we undoubtedly include the one-of-a-kind SalkinSoublis listing at 3410 Flamingo Avenue on the north end of Siesta Key. With nearly 500 feet of waterfrontage and a double vessel boathouse, this 2-acre gated estate named "Snook Inn" features the most beautifully balanced 6 bedroom waterfront residence, guest house and resort-like pool and magical water views overlooking Downtown's city lights.

NEW WATERFRONT HOMES..."an endangered species"

2009-12-04T13:02:00.016-05:00

Finding a never lived-in home on Sarasota's waterfront is becoming increasingly difficult in today's marketplace.

Paulene and I are very proud to be representing 3 exceptional residences in 3 different areas of town that have never been lived-in and surpass the current flood regulations.

HARBOR ACRES- 1204 Hillview Drive

"The Best Address in Town" with forever bay views! Classic six bedroom estate with perfect proportions and exquisite finishes spanning across 170' of unobstructed bay frontage, resort-like pool and boat dock.

Was: $11,400,000 Now: $8,500,000

NOKOMIS- 457 Anchorage Drive

In the small gated community of Enchanted Isles, this 6,000 square foot home will exceed all your expectations. Furniture grade cabinetry, a master suite "that will knock your socks off", intricate light and sound sytems, poolside living room and boat dock.

Was: $4,750,000 $2,975,000

LONGBOAT KEY- 521 Ranger Lane

On sailboat water with a new dock and seawall, this richly detailed four bedroom pool home features wood-trimmed ceilings, fireplace, bonus room and beach access.

Was: $1,695,000 Now: $1,580,000

EVEN PARADISE NEEDS A BOOST

2009-10-09T13:23:00.001-04:00

Longboat Key, a picture-perfect island off the coast of the ever evolving city of Sarasota, has a onetime only opportunity to roll out the red carpet and embrace change. The world famous Longboat Key Club & Resort wants to enhance its facilities with private funding which will, in turn, benefit all of us living and working on Longboat Key.

The well thought out Islandside Redevelopment Plan includes a much needed new 5-star hotel and a new meeting center, 176 new residences, a brand new Rees Jones designed 18-hole golf course, a new clubhouse and restaurant and a new Wellness Center including spa, fitness facility and a Mind & Motion Studio.

The Club's redevelopment will continue to bring affluent visitors to our community as tourists or meeting attendees. They will "discover" our beautiful beaches and island lifestyle and eventually buy our real estate and become our neighbors. They will eat at our restaurants, buy at our shops and become the ambassadors for Longboat Key, St. Armand's Circle and Sarasota.

In this economic climate, we applaud the Longboat Key Club for its vision and its belief in our beautiful island paradise. If you believe the Club's proposal is positive, join the Club's rapidly growing list of supporters: supporter@longboatkeyclub.com.

Sarasota...Hottest Real Estate Market in the Country!

2009-10-06T11:33:00.001-04:00

Visit msnbc.com for Breaking News, World News, and News about the Economy

The Hottest Real Estate Market in the Country!

2009-10-06T11:29:00.000-04:00

Those Were The Days My Friend

2009-09-30T15:21:00.002-04:00

"We thought they'd never end
We'd sing and dance forever and a day
We'd live the life we choose
We'd fight and never lose
For we were young and sure to have our way"

Five years ago (9/28/04), Paulene and I sold our waterfront home listing at 1345 Westway Drive… a gorgeous Lido Shores home with all the bells and whistles directly on New Pass… sale price of $5,300,000.

Just a few days ago (9/23/09), all the realtors in town heralded the sale of this same home, same location, same bells and whistles (although, we are sure not in the same pristine condition)…multiple offers… sale price of $3,250,000.

THERE ARE TREMENDOUS VALUES TODAY IN THE SARASOTA LUXURY WATERFRONT HOME MARKET. Someone just got a fabulous deal, where were you?

THESE ARE THE DAYS MY FRIEND…please, do not miss them!

Please call SalkinSoublis at 941-376-6121 or email us at salkinsoublis@michaelsaunders.com.

Summer is Sizzlin' for Sarasota Luxury Real Estate

2009-07-22T09:52:00.011-04:00

It's heating up in Sarasota...and, I'm not just talking about the temperature.

The Realtors in Sarasota (especially the Michael Saunders agents) have been very busy this year- not so much with the actual selling of property but more with understanding and advising our sellers to re-price their homes for today's marketplace.

Buyers were on the fence not making reasonable offers and sellers were not budging in price still clinging to 2005 dream prices of days gone by. There was a standstill in the marketplace-especially in the upper end.

Today, we see a new trend bubbling up. Gorgeous high end homes that have lingered on the market for years are now being sold! For example, after almost three long years on the market 1301 Westway Drive closed last week for $7,423,500.

According to Sarsota's MLS, since June 1, 2009, we have put 16 residential properties priced over $2 million under contract. And, even better, 10 luxury homes have closed since the beginning of June.

We are experiencing a market shift.

It is our time and we are ready, willing and able!

REAL ESTATE MARKETING….. ”The Times They are A-Changin”

2009-07-16T16:23:00.006-04:00

Did full page color ads in the Robb Report ever sell a house in Sarasota? After 27 years in the real estate business and always doing whatever it takes to market and sell our listings, I'm not sure I can answer "yes" to that question.

There was a time when our coveted customers would leisurely flip through a magazine, jot down our phone number and maybe call us, but, not now. Our phones no longer ring with someone on the other line inquiring about a home that he saw on Page 57. Now, we get an e-mail.

Today, that same coveted customer will go on-line where he/she can get in-depth knowledge of the neighborhood, take a virtual tour of the home, check the comps and then, e-mail us "armed and ready" for the one-on-one interaction.

If print advertising is no longer bringing the same results that it once did; then, we as an industry, as a company and we as individual agents need to make some changes. So, Michael Saunders & Company and Paulene and I are tweaking our ways and adapting our marketing strategies to reach today's customer.

Yes, we will continue promoting our properties in print but we are expanding our on-line presence in order to reach the world-wide attention that our properties deserve.

And, please don't forget we are only a phone call away…or better yet, e-mail us, text us, read our Blogs, Friend us on Facebook, Tweet us, or get Linked-In with us!

Celebrating Freedom in Sarasota

2009-07-04T14:40:00.005-04:00

Throughout my 6-mile walk today from Marina Jack over the Ringling Bridge and around St. Armand’s Circle, I kept thinking how lucky I am to live and work in Sarasota. At a young age (24), I made a rather gutsy choice to move here by myself and start my “adult” life. Almost everyone here has relocated from somewhere else, each making their own choice to live their life in Sarasota.

So, on this 4th of July, I celebrate the FREEDOM OF CHOICE. That we have the ability, the right, to choose wherever we want to live and to work. As long term Realtors, Paulene and I are not happy right now with the Real Estate market. We find no delight in telling Sellers that their property value has gone down from the year before or, working with buyers panting to jump into the market and not a lender around willing to fund their dream. It’s tough talk, but we are choosing to have the conversations with our Clients and we will help guide them through this challenging time.

Because, we have the FREEDOM TO BELIEVE. Paulene and I believe that Sarasota is the Best place to live. This Independence Day morning , I saw so many people laughing, fishing, boating, cycling and groovin’ to their I-pods…there were coolers and grills, families and lovers and like every other day, so many gathering around our Bayfront’s "Unconditional Surrender" statue with camera in hand believing that today is good and tomorrow will be even better.

LUXURY SARASOTA HOMES SELLING

2009-06-19T10:37:00.005-04:00

This week, two ultra-luxury homes went under contract! Both on water, both incurred dramatic price reductions and both had been on the market for quite some time. We have said it many times before, we never know when the buyer will come and " it only takes one"...one buyer who has to have it!

One buyer is swooping up 1538 N. Casey Key Road listed at $8,295,000. This Gulf-to-bay stone manse was originally listed with a smaller property next door for $20,035,000 in March 2007. The second home to go under contract is a lovely $8,999,000 Lido Shores residence directly on New Pass originally listed for $11,000,000 in October 2006.

There are some terrific opportunities in the luxury waterfront home selections in Sarasota. The SalkinSoublis listing at 1204 Hillview Drive is a perfect example of a gorgeous home with a great address and awe-inspiring water views. This never lived-in Bayfront six bedroom home in exclusive Harbor Acres is on the market for $8,500,000 (reduced from $11,400,000).

For more information on this property and more luxury waterfront homes, please visit our website at http://www.sarasotabestproperties.com/.

ART DECO MASTERPIECE IN SOUTHWEST FLORIDA

2009-06-18T09:04:00.003-04:00

From the moment you open the solid glass and bronze front doors, you instinctively know that this is "no ordinary home". You are about to discover a newly built Art Deco treasure warmed by precious woods and magnificient stones.

Custom built for sophisticated world travelers, the light-filled residence becomes a museum-like backdrop for prized possessions and walls of art. Accented by the Calacatta Gold marble floors and original 1930's Art Deco pendants and fixtures, the home speaks to you as "any great piece of art" should...inviting you to relax, have a glass of wine and unwind in the privacy of your own home.

And, private, it is. There are no other homes in sight. Instead, you gaze upon the magnificent sunsets over the bird-filled nature preserve and enjoy the water views from the roof top terrace and master suite sanctuary.

Inspired by nature, experience the art of luxury living at 162 Osprey Point Drive in the exclusive Bayside community of The Oaks Golf and Country Club.

SARASOTA LUXURY REAL ESTATE

2009-06-18T07:32:00.003-04:00

Thursday 6-18-2009

SRQ DAILY (info@srqmagazine.com)

[Real Estate] Is Luxury Real Estate Back on Track?Jacob Ogles, jacob.ogles@srqmediagroup.com
Realtors specializing in high-priced homes say stability seems more elusive on high-end properties, but that sales are happening in greater numbers. So far this year, 83 homes have sold for more than $1 million in Sarasota County and 49 sales are pending for homes of that value or higher, according to the Sarasota Association of Realtors. Judy Kepecz-Hays, a Realtor with Coldwell Banker, made headlines this year when she sold a home on Spoonbill Drive on Bird Key for $4.75 million. Along with a couple major sales by Michael Saunders and Company this year, optimism seems to again be returning to the local market. Marcia Salkin, who helps run the website sarasotabestproperties.com, says there is even renewed interest in the uber-luxury homes. She has showings scheduled for a $15 million Flamingo Drive property, an $8.5 million property of Hillview Drive and $6.8-million home on MeadowLark Drive. “We are showing our ulta-luxury homes once again,” she said. But it could still be a couple months before Realtors know they are in a real market again, Salkin said.

DOES ANYONE KNOW TIM McGRAW AND FAITH HILL? If so, let them know that we have the perfect home for them!

2009-06-12T12:14:00.013-04:00

Sometimes, you just can't shake a feeling...something that you know is "just right" deep down into your core. That's the feeling that I have had ever since we first put Snook Inn on the market. I remember laughingly brainstorming with the owners that Tim McGraw and Faith Hill would be the perfect buyers for their special property. Refined yet comfortable where "it's all about the water".

Not that I profess to be an expert on the likes and dislikes of the McGraw/Hill family clan, I can only imagine that Faith Hill would be "at home" in this wonderfully balanced, exquisitly detailed Coastal home while Tim McGraw would be one happy man with the one-of-a-kind deepwater boat house on 500' of the most beautiful waterfront on the West Coast of Florida.

Located on the North end of Siesta Key overlooking the bright blue waters of Big Pass and the skyline of Downtown Sarasota, this gated, nearly two-acre estate was fashioned after the Old Florida Inns of yesterday with six en-suites, resort-like pool, covered shuffleboard court and oversized watefront verandahs. In my mind's eye, I can see them, their family and friends living, playing and loving the property. (There's even a perfect spot for a recording studio!)

Now, I am not going to stalk the couple and this will probably be my one and only outreach to the mega-stars. I've said what's on my mind but I willl ask one more time "if any knows Tim McGraw and Faith Hill", please let them know we have a home for them in Sarasota, Florida.

To view the virtual tour of this great property, click on 3410 Flamingo Avenue, Sarasota, FL

ALOHA FROM SUNNY SARASOTA

2009-06-09T16:00:00.004-04:00

Sited high above the waves with forever bright blue waters, our value priced GULF FRONT property in The Sanderling Club on the south end of Siesta Key is reminiscent of the panoramic scenes in From Here to Eternity.

Picture point property jutting out into the Gulf of Mexico giving you magnificent crescent coastal views as you look north and south. There are no other houses in sight, only your very own fishing cabana feet away from our area's only natural reef. Known as "Tarpon Point", an angler's delight as you catch Snook, Cobia and, of course, Tarpon right in your own backyard.

The inspirational setting beckons the book writers in all of us. It's been 50 years since Michener's Hawaii was written and surely this property is suited for the sequel. On nearly two acres this one-of-a-kind estate off the coast of Sarasota is fine as it is, although a new, luxury home would truly enhance a property of this magnitude....An unrivaled waterfront estate in paradise.

REALTORS CAN MAKE A DIFFERENCE

2009-06-08T13:13:00.003-04:00

In a recent and very insightful Michael Saunders & Company Conference titled "ReInvent Yourself", real estate trend guru Steve Harney was one of the featured speakers. Putting political persuasions aside, he spoke candidly about the economy and the important role that we Realtors have in today's economic recovery.

"The World is counting on the U.S. economy to solve the global economic crisis.
The U.S. economy will not recover until the housing industry recovers".

This CALL TO ACTION reverberating in many of our hearts and souls as his words echoed

"If not us, who"?

Our jobs as Realtors is tougher than ever...we are battling daily with a rapidly changing market compounded by more stringent insurance, appraisal and mortgage guidelines. The "order-taking" Realtor of yesterday is dead and those of us still standing should applaud ourselves, go out, and change the world...by selling one house at a time.

LIFE’S A BEACH and We’re Proud of It

2009-05-30T09:59:00.013-04:00

The powdery, white sands of Siesta Key beach has been recognized as the Number 2 beach in America (number 1 on US mainland) by “Dr. Beach”. In analyzing the country’s finest beaches, Dr. Stephen P. Leatherman, Director of Florida International University for Coast research, uses 50+ point criteria including water quality and temperature, weather, sand, safety and facilities.

AMERICA'S BEST BEACHES 2009
1.Hanalei Bay , Kauai, Hawaii
2.Siesta Beach, Sarasota, Florida
3.Coopers Beach , Southampton, New York
4.Coronado Beach , San Diego, California
5.Hamoa Beach , Maui, Hawaii
6.Main Beach , East Hampton, New York
7.Cape Hatteras ,Outer Banks, North Carolina
8.Cape Florida State Park , Key Biscayne, Florida
9.Coast Guard Beach ,Cape Cod, Massachusetts
10. Beachwalker Park ,Kiawah Island, South Carolina

Two exciting examples of "living on Siesta beach at its best" are our listings at 220 Tenacity Lane, quality-built four-bedroom beachfront home, and the four bedroom Penthouse unit at Crescent Royal.

220 Tenacity Lane
Sarasota, Florida 34242
$5,450,000.00
See the full listing, photos and virtual tour
of this Siesta Key Home for Sale

777 Beach Road #7A
Sarasota, Florida 34242
$1,875,000.00
See the full listing, and photos of this
Siesta Key Penthouse Condo at Crescent Royale for Sale

There’s No Place Like Home

2009-05-26T12:16:00.001-04:00

Sometimes you have to leave home to appreciate what you have...

After almost 20 years in the original office of Michael Saunders & Company, my business partner, Paulene Soublis, and I decide to leave our comfortable nest, spread our wings and fly off when we heard that the “Michael Saunders of Naples” was opening a brand new office in Downtown Sarasota. Being well-established real estate agents focused on the upper end market, theoretically, it was a perfect fit.

We were going to be a blended family successfully working and living in Sarasota and referring back and forth along the Gulf Coast. Along with our clients, we enjoyed the impressive January 2008 Grand Opening, the attention of the Sarasota press and community leaders and the Naples based leaders were all smiles reveling in the Naples to Sarasota mantra. And, as we have for the last 25 years, Paulene and I went to work promoting our listings and selling properties. We had a record breaking $6.9 million sale on Bird Key and soared to the top of the Sarasota Association of Realtors.

The market began changing and those new to the area and/or the real estate business in general began closing their doors. In less than two short years, “The Michael Saunders of Naples” went back to their homeland and Paulene and I ran as fast as we could to the open doors and open arms to the one and only “Michael Saunders of Sarasota.”

We are back home with Michael Saunders & Company and just as Paulene and I sell real estate one home at a time, Michael has built a family-based company one person at a time.

At Michael Saunders & Company, we have LOCAL leadership with tons of support. We have an entire interactive marketing department; we have ongoing and up-to-the minute education, leading- edge technology, offices in every part of town, worldwide first class affiliations and the best sales agents in the industry. We share, we care and we have long-term relationships with each other.

Our roots are grounded again and we are ready to soar.

Top Premier agents leave on news of sale

2009-01-07T10:03:00.002-05:00

By Aaron Kessler
Published: Saturday, December 13, 2008 at 1:00 a.m. Last Modified: Friday, December 12, 2008 at 11:45 p.m.
Sarasota Herald Tribune

SARASOTA - One day after Signature Sotheby's International Realty announced it was acquiring Premier Properties of Southwest Florida's Sarasota office, Premier's two top agents made the decision to leave.

The veteran team of Marcia Salkin and Paulene Soublis decamped Thursday to Michael Saunders & Co., bringing along more than $85 million in listings.

Salkin said that the abrupt purchase of Premier was "shocking," but that she kept an open mind while Signature and the Sotheby's corporate officials made their case.

"We listened to everything Sotheby's had to offer, listened to their presentations," Salkin said. "But we decided with Michael. This is where we feel comfortable. Sotheby's is a good brand, but when it came down to it, there was really no comparison for us."

The move returns Salkin and Soublis to familiar territory: The pair worked for Saunders for nearly two decades prior to joining Premier. As of Friday, they had moved into their new offices at Saunders' Longboat Key South site.

Salkin and Soublis have consistently ranked in the top tier of Sarasota area agents. So far this year, they have closed more than $22 million in sales, despite the struggling housing market.
When Signature announced its takeover of Premier on Wednesday, there was some question about whether the company would try to keep for itself the listings of agents who wanted to leave. But Salkin said she so far has not had any problems taking her clients to Saunders, and does not expect a fight.

"The brokers have to work out all the details, but I think it's just semantics at this point," she said. "All of our sellers want to come with us."

She said that in the ultra-high-end market, sellers really choose an individual agent more than they do a company, and that those intentions should be respected.

"Our sellers signed up with us; they didn't really sign up to be part of a franchise environment," Salkin said.

As of Friday, a number of other former Premier agents contacted by the Herald-Tribune were weighing their options, and had yet to reach decisions on whether to stay or go. Signature is doing its best to get people on board as quickly as possible, asking all former Premier agents to formally sign an agreement to join the Sotheby's affiliate.

Signature's managing partner, Judy Green, did not return phone calls on Friday.

One thing seems to be clear: There is a growing movement within the ranks of the former Premier agents to control the fate of their listings. If Signature Sotheby's attempts to force the issue, the company could be in for a lengthy fight.

Signature and Sotheby's have a strong interest in keeping the sellers with the company.
While the terms of the Premier acquisition have not been made public, it is not uncommon for such deals to involve little money changing hands, and instead for the proceeds to come out of future commissions. If the agents and their listings go elsewhere, so too does that money.

Using Salkin and Soublis as an example, and to demonstrate the magnitude of their departure: Their $85 million in listings could potentially translate someday to roughly $300,000 in franchise fees to Sotheby's and nearly $1.2 million for Signature itself, based on the firm's 75/25 commission structure and the 6 percent franchise fee charged off the top of each sale.

This story appeared in print on page D1