Both firms have forged similar partnerships in the past: Warburg works with Saunders & Associates in the Hamptons, while Fortune has agreements with firms in various cities in Latin America and Europe that CEO Edgardo Defortuna described as “feeder markets.” Fortune previously had a similar relationship in New York with Andrew Heiberger’s now-defunct Town Residential.
An employee who used to work at Town initiated the conversation between the two firms in February, according to Peters, and the partnership officially kicked off last week.
Peters said he’d been looking to partner with a South Florida firm for years, but was looking for one that was ideologically aligned. That shared philosophy includes agent welfare and, Peters said, a willingness to “leave a little money on the table and do the right thing. The latter seems increasingly rare.”
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