In a surprise move, Sotheby’s International Realty acquired the nine Dalton, Brown & Long Realtors offices last Thursday. The Palisades DBL office, located in the business building at 15308 Sunset, will now operate as Sotheby’s International Realty. Alan Long, formerly president of DBL Realtors and one of its founders, has been named president of the Southern California region. ‘The opportunity to become part of the Sotheby’s organization will provide our sales associates with tremendous potential to grow their businesses,’ said Long, who also told the Palisadian-Post that the Palisades office and its 45 agents would continue to serve the community ‘exactly as it does now. We are very pleased to have access to Sotheby’s client base.’ Last year, DBL Realtors was the fourth-largest real estate brokerage firm in L.A. County, posting $3.3 billion in sales. The acquisition nearly triples Sotheby’s presence in Southern California, adding more than 600 sales associates working out of DBL’s offices located in the Palisades, Santa Monica, Beverly Hills, Brentwood, Los Feliz, the Sunset Strip, Pasadena, Palm Desert and Palm Springs. Now, more than 750 agents will be affiliated with Sotheby’s. ‘Under Alan Long’s leadership, DBL Realtors has established an outstanding reputation for professionalism and enjoyed great success, as evidenced by the company’s sizable growth in this market,’ said Stuart Siegel, president of Sotheby’s International Realty, Inc. ‘We were attracted to this company because it shares many key attributes’savvy marketing, community involvement, and first-class service to their sales associates and clients.’ Asked how the acquisition came about, Long told the Post that he ‘received a call four or five weeks ago from Stuart [Siegel] suggesting we have dinner. It was that simple.’ Long said that given the continuing trend towards consolidation in the real estate industry, he had recently received several offers to buy his firm but turned them all down because ‘they all wanted me out. Sotheby’s offer provided the best opportunity for me and my associates to expand. It’s a big market out there.’ Thrilled by the news is local agent Betty-Jo Tilley, who joined DBL a year ago. ‘Sotheby’s has always had a cachet, an image of sophistication, so I think it’s an ideal match for us.’ Sotheby’s International Realty was founded in 1976 primarily to service clients of Sotheby’s auction house, which has been in operation for over 250 years and is known worldwide. In addition to Southern California, the company operates brokerage offices in key metropolitan and resort markets, including Manhattan, the Hamptons, Connecticut, Palm Beach, San Francisco, and Jackson Hole, Wyoming. The DBL acquisition by Sotheby’s is its first since the company was itself acquired in February by NRT Inc., the largest residential real estate brokerage firm in the United States. NRT also owns several other real estate franchises and brokerages, including Coldwell Banker, which has three offices in the Palisades (Sunset West, Sunset East and the Highlands). ‘We will continue to be what we have always been’friendly competitors,’ Long said. ‘While we are all now owned by the same company, we are operating under different names, different brands.’ Asked how clients will be able to differentiate one company from the other, Long said: ‘It will come down to the individual service they receive from our agents, as it always has.’ NRT is a subsidiary of Cendant Corporation, which provides consumer services worldwide. Besides real estate, its companies (including Cheap Tickets, Ramada Inn International, Travelodge, Avis and Budget Rent-a-Car) provide various travel services. Now, the only two remaining independent real estate firms in the Palisades are A.M. Realty and Palisades Realty. Prudential California Realty, located at 881 Alma Real, is owned by the country’s second-largest real estate company: Home Services of America Inc, a Berkshire Hathaway affiliate.
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