One Sotheby’s International Realty continues to expand on Florida’s east coast, The Real Deal has learned.
O’Dare Boga Group, a Vero Beach team with Premier Estate Properties, left the brokerage to join Miami-based One Sotheby’s, run by Mayi and Daniel de la Vega, de la Vega said. The group achieved sales totaling nearly $300 million last year.
Cindy O’Dare, Richard Boga and Kristin Dobson are moving to Premier Estate Properties after 15 years. The recruitment of the O’Dare Boga Group is part of a broader expansion strategy for One Sotheby’s, which plans to open an office in North Vero Beach, said Daniel de la Vega, president of the brokerage.
Other businesses developed in Vero Beach, which O’Dare compared to the “Hamptons” of Florida, including Douglas Elliman.
“We were approached by several other companies, but we didn’t seriously consider anyone else,” O’Dare said.
O’Dare’s daughter, Lily O’Dare, a One Sotheby’s agent, began her property career with the firm and will join her mother’s team. It also contributed to their decision to join One Sotheby’s.
De la Vega expects the luxury market in Vero Beach to remain strong. Home values have jumped more than 40% in the past year, according to Zillow. Similar to what is happening in Miami-Dade, Broward and Palm Beach counties, buyers have migrated from the Northeast and Midwest.
“Vero Beach is no longer a quiet retirement community,” de la Vega said.
According to O’Dare and Boga, the buyer demographics have become younger over the years.
Rising prices in South Florida are also pushing buyers north toward Vero Beach, where there is more value, agents and de la Vega said.
One Sotheby’s also followed this migration. He took over First Coast Sotheby’s International Realty in Jacksonville earlier this year, one of eight recent acquisitions for the company as it expands across the state.