Scottsdale-based Platinum Living Realty has joined Engel & Völkers 15 years after launching as a boutique firm.
The company's founder, Jay Macklin, said the move will give its agents a leg up in Arizona's competitive luxury market.
"Engel & Völkers fit us really well because it was the same type of culture with amazing people," Macklin told Homes.com in an interview. "I think we just found a really kindred spirit in how they do business. But ultimately the national and international exposure" will help set the firm apart, he added.
The move to Engel & Völkers coincides with the residential market becoming more crowded with industry professionals, Macklin added, noting the bigger brokerage will help Platinum's agents leverage technology to market properties.
"Competition is stiffer than ever, and buyers and sellers are making decisions on the smallest distinction," he said.
Macklin launched the company alongside his wife, Michelle Macklin, in 2010 as Desert Platinum Properties, which later became Platinum Living Realty. The duo will remain involved in the business, focusing on sales and agent mentorship to support the transition. Day-to-day management of the office will be led by Michael Bianchi, who serves as president of Engel & Völkers' Gestalt Group.
Capitalizing on 'astounding' luxury demand
Platinum Living Realty has about 80 agents across three offices: Scottsdale, Wickenburg and Newport Beach, California. All agents have transferred over to Engel & Völkers, Macklin said.
“Platinum Living Realty has always prioritized quality, collaboration and agent support, which aligns closely with the Engel & Völkers brand,” said Paul Benson, license partner of more than 40 Engel & Völkers shops, in a statement.
German-based Engel & Völkers has a network of about 6,000 agents in the Americas. Globally, Engel & Völkers comprises over 16,000 real estate professionals in more than 30 countries, according to a news release.
The Engel & Völkers platform "allows advisers to deliver highly personalized service while accessing world-class marketing and referral opportunities," Benson said.
"That combination was a strong draw for Jay and Michelle’s team and makes this partnership a strong fit for the Scottsdale and greater Phoenix market," Benson added.
Platinum Living Realty is the latest example of Arizona firms joining larger brokerages. Earlier this summer, Flagstaff-based JBRE & Co. — a nine-agent real estate team — joined Miami-based The Real Brokerage.
"The money that's out there to still buy and trade homes at $5 million-plus is astounding," Macklin said.