Sotheby's creates further changes in local market

LAKEVILLE — Sotheby’s International Realty increased its size and sway over the local real estate scene this week, as two agents from the nearby Robinson Leech agency moved to the larger firm.

Sotheby’s moved to Main Street in February, giving up its former site on Route 41/44 next to the National Iron Bank main office. To make the move, Sotheby’s, under the direction of Vice President Alan Distasio, had purchased John Borden’s agency (Borden has  owned the Main Street location since 1954).

John Borden, who took over the agency from his father, Albert, is now a broker associate with Sotheby’s.

The international agency also has offices in Kent (the company purchased Todd Cole’s agency; Cole remains on staff there but is making plans to move to New Mexico) and Washington Depot. Distasio is vice president and manager of the Litchfield County offices and splits his time between the three locations.

Bob Selby and Mimi Harson will work primarily out of the Main Street Lakeville Sotheby’s office now. Both said they decided to make the move from Robinson Leech, which is located just a few doors down from their new Sotheby’s office, because they feel that the larger agency offers more opportunities.

“It’s a strong brand and they have significant marketing capabilities and support for buyers and sellers,� Harson said, adding that, “I was at Robinson Leech for 12 years; change is good.�

Selby, who had been with Leech for five years, cited his new employer’s “far-reaching Web presence,� and also said that he felt it was time for a change.

“It was a great fit,� Distasio said. “They’re both very experienced long-time agents and they’re comfortable working with most types of properties, from cottages to estates.�

Robin Leech conceded that many homebuyers are using the Internet to help them in their search for properties, but said that ultimately people will continue to do business with agents whom they know and are comfortable with. Both Harson and Selby, he theorized, “were feeling the heat of a slow real estate market and are hoping  there will be more activity at a larger office.â€�

The Lakeville office of Sotheby’s now has eight Realtors, Distasio said. There are 24 in the larger Washington Depot office and eight in Kent. Sotheby’s is not looking to further expand any of those locations, he said, but “If people come to us looking for an affiliation, and if it’s a good fit, we’ll consider it.�

At Leech’s office, Carol Staats, Cindy Conklin and Susan Vreeland are still listed as sellers. Denise Rueger is the full-time office manager. The prime agent for the time being will be Leech himself. In a slow market, he noted, it doesn’t actually make sense to have multiple agents in one office competing for a limited number of buyers.

Leech is an old hand at Northwest Corner real estate. He joined his father, also named Robinson Leech, in 1971; his father had opened the agency in 1955, “at the same time as Al Borden and Bill Kelsey, Frank Cole and Orpha Robinson, David Minton, Robert Valentine, and of course Lucille Singleton Fish.� In other words, it was a boom time in Northwest Corner real estate, the moment when the region began to attract weekend residents.

“I got into the business in the summer of 1971,� Leech recalled, “right out of college, when I was in my early 20s.�

He found the real estate trade appealing, he said, because “it allowed me to live in a beautiful part of the world and I didn’t have to be behind a desk from 9 to 5. I figured I’d be able to go out, walk around, enjoy the area. The result being that I discovered this is a 24-hour, seven-day-a-week business if you want to do it right.�

The elder Robinson Leech retired in the early 1980s and his son took over the business, and the small, white Colonial-style building on Main Street that has been the agency’s home since the 1970s.

“The strength of my business is the name and the heritage that we’ve built up over time,� Leech said. “I try to be accurate and straightforward in all aspects of representing real estate in the area, which includes Massachusetts, New York and Connecticut.�

Both Leech and Distasio noted that the market is indeed quite slow right now. And both said that there is  often a disconnect at this moment between sellers, who want to keep their prices high despite the downward trend; and buyers, who are sitting back and waiting for the market to hit bottom.

“When you try to time the market,� Distasio warned, “usually what happens is that by the time you realize it’s bottomed out, it’s already going back up. What we’re suggesting to buyers is that they keep an eye on interest rates, which are the lowest they’ve been in a long time. And we’re telling our sellers there has to be some flexibility. There are some very good opportunities and mutually good deals have been struck.�

Most of the activity at this moment is in the under-$1 million range, he said.

“There is also a great opportunity now with the first-time-buyer tax credit,� he advised. “People need to keep in mind that they can still qualify even if they previously owned a home, as long as it wasn’t in the past couple years.�

“The recession isn’t going to keep the Northwest Corner from being a desirable place to come and relax,� Leech said. “It transcends the current economic situation.�