"A lack of buzz about the latest twist at Hilton & Hyland calls into question the brokerage's relevance in the market, and it comes off of what could be viewed as a particularly tough stretch for the business. That includes agent and executive departures, a lawsuit from what is now Hilton & Hyland's former landlord over alleged unpaid rent, and a move to smaller offices on Maple Drive in Beverly Hills's Golden Triangle."
"Interestingly, the Maple Drive address is the same building where Hilton Hilton the brokerage led by Hilton & Hyland co-founder Rick Hilton has set up shop. That business also seems to be at its own inflection point. The Real Deal reported earlier this month The Agency poached Justin Alexander and two of his team members from Hilton Hilton. That's left the brokerage with an agent headcount of four, according to records pulled from the California Department of Real Estate on Friday."
Steve Katz exited Hilton & Hyland shortly after New Year's Day and was succeeded by Felix Pena. Industry reaction to the leadership change was muted. The brokerage experienced agent and executive departures, faced a lawsuit from a former landlord alleging unpaid rent, and moved to smaller offices on Maple Drive in Beverly Hills's Golden Triangle. The Maple Drive building also houses Hilton Hilton, led by co-founder Rick Hilton. The Agency poached Justin Alexander and two team members from Hilton Hilton, leaving that brokerage with four agents according to California Department of Real Estate records. L.A. mayoral candidate Nithya Raman proposed Measure United to House L.A. carveouts mainly affecting commercial developers, but residential real estate showed little visible concern.
Read at therealdeal.com
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