The luxury real estate brokerage business in Dallas just got even more competitive.
Last week, super-producing agent Gaynelle Henger, who had been powering the newly branded Coldwell Banker Global Luxury Preston Center office of 12 high-performing agents, turned in her resignation. Shocked, we all wondered where she would go next.
Yesterday, we found out: Gaynelle has joined The Collective Residential.
Gaynelle approached Collective founding partner Christy Berry, inked a deal, and she is now a Collective agent.
“The Collective Residential is a locally owned and operated boutique firm with a strong marketing program and a fresh, new brand. I really like what they are doing, where they are going, ” says Gaynelle.
“They understand what it takes to compete in this market,” she added. “Real estate is two things, marketing and customer service, anything else is distracting from that. And a local firm just really knows the market.”
Will she be recruiting agents over to the Collective? Not actively at this point, says Gaynelle, who brought nine super agents to Coldwell Banker after leaving Dave Perry-Miller, the luxury division of Ebby Halliday Realtors: Gianna Cerullo, Jonathan Thayer, Gayl Bramer, Dawn Rejebian, Kindred Roach, Marla Sewell, April Jolas, Shannon Blount, and Dana Rigg.
The brokerage business in Texas is more challenging than ever, as agents demand higher commission percentages, traditionally that 6 percent split between the buying and selling agents. Half of the 6 percent (3 percent) is divided between the sponsoring broker and the agent, and therein lies the rub: the real estate business model is changing, and with technology, the broker doesn’t bring as much to the table as they once did. Agents want their money’s worth, trying to keep a larger portion of that 3 percent, with more agents demanding —and getting — higher split shares. With brokers taking smaller splits to keep top producers on staff, they are making up revenue with ancillary services (mortgage, insurance, etc). The “100 percent commission” concept is gaining ground, while traditional brick-and-mortar brokerage offices struggle to keep high producers on board, recruit, and keep up with overhead.
I had lunch with Gaynelle just a few weeks ago, and I have never seen anyone as pumped and positive about Coldwell Banker residential as she was. She was selling it strongly. Of course, Gaynelle does her job very, very well.
Gaynelle joined Coldwell Banker Residential last April, 2017, after leaving Dave Perry-Miller. The firm made plans to open a luxurious new office in Dallas’ Preston Center, all part of the re-branding process. Construction at 5950 Sherry Lane has not been finished and in fact, has not even started. But the Coldwell Banker Global Luxury brand is huge, strong, and offering lucrative incentives to agents. Nationally, Coldwell Banker claims $130 million in luxury real estate sales every day. Last year, Coldwell Banker Realtors sold more than 25,000 luxury homes, each totaling more than $1 million.
In North Texas, Coldwell Banker Residential once ruled the Dallas roost as broker to one of the highest producing husband and wife real estate teams in the nation, Nicky and Eleanor Mowery Sheets, when the office was located on Lovers Lane at Preston. In November 2008, the Wall Street Journal listed Eleanor and her team No. 17 in the nation, with sales of $171 million. For 12 straight years Eleanor was Coldwell Banker’s top Texas agent, and reigned as the company’s highest-producing agent worldwide at least twice.
When she left DPM for CB, Henger was very bullish about the new Preston Center office:
“The luxury market in Dallas is extremely dynamic and agents who serve these markets need to have particular skills and knowledge,” said Henger, the new branch manager for Coldwell Banker Residential Brokerage Preston Center luxury office, in a statement.
“The Preston Center office will enable our affiliate luxury property specialists to focus on what they do best, providing superior support for today’s growing international real estate space,” she added.
“I really hope Coldwell Banker continues to thrive, it’s a fantastic brand” says Gaynelle, “I hope the new office works for them, and wish all the agents involved the very best.”
Of note: Gaynelle’s business background includes two decades of corporate advertising and marketing, and she once worked for Dallas Mayor Mike Rawlings at DDB Needham.
THE COLLECTIVE RESIDENTIAL WELCOMES GAYNELLE HENGER TO THE TEAM DALLAS – October 30, 2017 – The Collective Residential, a boutique residential real estate brokerage firm specializing in luxury properties, is pleased to announce that top- producing agent Gaynelle Henger has joined the firm.
“We are thrilled to welcome Gaynelle to our team. She is a true market leader and strategic thinker who brings a wealth of expertise to our integrated team of top agents. Gaynelle has extensive industry, management and marketing experience combined with a specialized understanding of luxury properties,” said Christy Berry, broker and co-founder of The Collective Residential.
With more than 14 years of experience in residential real estate, Gaynelle is an agent’s agent. Not only has she had a successful real estate career herself; she’s helped launch the careers of many others.
Gaynelle began her professional life with two decades of corporate marketing and advertising. That experience provided a great launch pad for her years in real estate, where she was subsequently awarded “2004 Rookie of the Year” by Ebby Halliday Realtors. She later joined the Perry-Miller-Streiff Group of Ebby subsidiary Dave Perry-Miller Real Estate, but not before serving 86 agents as sales manager of the Preston Center office from 2014-2016. Gaynelle’s leadership and dedication produced outstanding results there, including more than $1 billion in real estate volume and more than 1,000 new customer relationships. Most recently, Gaynelle served as office manager for Coldwell Banker Residential Brokerage’s Global Luxury sales office in Dallas.
Dedicated to supporting the community, Gaynelle served as the 2016 Chair of the Steering Committee of the United Way’s Women of Tocqueville, has served as a mentor to adolescents at Nexus Recovery Center, and is a past board member of the Winston School.
D Magazine has recognized Gaynelle with the Best Real Estate Agent Award in multiple years, Honor Roll for Top Individual Production at Ebby Halliday Realtors and Top Ten Production at Dave Perry-Miller Real Estate several years.
“I am thrilled to be joining a locally owned and operated boutique real estate firm, especially one that has such strong marketing and branding efforts. The Collective’s fresh approach to collaboration and branding makes them a market leader, and I am very excited to become part of this team,” Gaynelle said. “My recent experience in management allowed me the opportunity to learn how to problem solve and to work with many kinds of people in a variety of situations. However, this is the perfect time for me to focus my efforts on working with directly with clients again.”