Sotheby's acquires Todd Cole Realty

KENT — Sotheby’s International Realty Inc. has acquired the assets of Todd Cole Realty LLC and will now be managed by Alan DiStasio.

Todd Cole and five of his agents will stay on as sales associates.

The local Sotheby’s affiliate, which started out of Washington Depot five and a half years ago, has had an eye on establishing a strong presence in Litchfield County.  With the addition of Cole’s firm, the company now has four locations here.

“Todd Cole is a well-known and respected real estate expert in Litchfield County, who has built his firm on the same quality standards that Sotheby’s International Realty upholds,� stated Sotheby’s C.E.O. and President Kathy Korte in a press release. “We are excited to be acquiring a firm that has such in-depth local expertise and ties, and that will mirror our commitment to exceptional client service.�

Cole was enthusiastic about the changeover.

“I am feeling a high level of excitement. Sotheby’s brings resources that we wouldn’t have had on our own. This changeover adds a whole new dimension and expands our horizons immensely.�

He added, “This will also give us better access to markets where we weren’t as effective as we will be now.�

Sotheby’s lists its clients in publications that are distributed both nationally and internationally.

The acquisition of Cole’s company took about five months of planning, according to DiStasio, who is vice president and manager of the the other three Sotheby’s offices in Litchfield County.

After DiStasio and Cole first discussed the idea and Cole agreed it would be a good match, planning began for the move.

Cole and DiStasio started in the real estate business together, which contributed a certain ease to their working relationship as the acquisition was being planned.

Both men felt the deal was a win-win situation for both sides. Sotheby’s will acquire another office and increase its strength in this market.  

Cole will gain access to wider markets and his resources will expand significantly.

According to DiStasio, Sotheby’s also brings a solid track record with its agents, the majority of whom have stayed and grown with the company.

The company has a low rate of employee turnover, he said, adding, “I think it speaks to what the brand brings in terms of their career development.�

This was something that was important to Cole as well.

“All this is happening without losing the feeling of operating the business with a familial sense. All of my agents have stayed on and we even expect to add an additional two or three as a result of the changeover.�

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