Sperry Van Ness Enters into 10-Year Area Development Agreement with Coast Real Estate Services

By Erika Schnitzer, Associate EditorSeattle–Sperry Van Ness has signed a 10-year area development agreement with Tom and Shawn Hoban, the owners of Coast Real Estate Services, an Everett, Wash.-based real estate company.“We have chosen to co-brand in this market to make sure people are aware that both the strength of the local company at Coast and the strength and brand name of the national company (Sperry Van Ness) are immediately recognized,” explains Tom Hoban (pictured), CEO of Coast Real Estate Services and managing director of the newly formed Coast Sperry Van Ness.“This is very appealing model for the way commercial real estate sales and leasing are done throughout the country and how regional firms that choose to retain ownership find an affiliation with a national firm, which is sometimes a better arrangement than selling to a large corporation,” he adds.The market of the new brokerage and leasing firm will focus on western Washington, though Hoban says the company expects to expand to other major cities throughout the state.“Each of our brokers is contractually duty-bound to cooperate with any and all brokerage firms and advisors, regardless of whether they are in Sperry Van Ness or Coast,” says Hoban. “That’s meaningful because when we list a property on the marketplace, those buyers and tenants represented by brokers know that the day we list it to them is the day we list it internally.”In addition to Coast Real Estate Services and Coast Sperry Van Ness, The Coast Group of companies comprises Coast Equity Partners and Commercial Property Maintenance (CPM).