{"id":2772,"date":"2022-01-19T22:18:10","date_gmt":"2022-01-19T22:18:10","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2022\/01\/19\/fast-growing-brokerage-side-enters-nyc\/"},"modified":"2025-03-13T02:40:00","modified_gmt":"2025-03-13T02:40:00","slug":"fast-growing-brokerage-side-enters-nyc","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2022\/01\/19\/fast-growing-brokerage-side-enters-nyc\/","title":{"rendered":"Fast-growing brokerage Side enters NYC"},"content":{"rendered":"\n<p>San Francisco-based <strong>Side<\/strong> has taken the side entrance into New York. The real estate brokerage has not announced agent hires, but it has tapped a managing broker for the state in John Wollberg.<\/p>\n\n\n\n<p>\u201cWollberg will support and guide Side agent partners as the company expands its unique brokerage-as-a-service model into New York,\u201d reads a <a href=\"http:\/\/www.prweb.com\/releases\/industry_leader_john_wollberg_joins_side_to_champion_agent_centered_brokerage_as_a_service_model_in_new_york_state\/prweb18439632.htm\" target=\"_blank\" rel=\"noreferrer noopener\">Side press release<\/a> Tuesday, which also notes: \u201cWollberg brings to the role over 35 years of experience in residential real estate and expansive knowledge of the Manhattan market.\u201d<\/p>\n\n\n\n<p>Wollberg was most recently the executive vice president and managing director of sales and operations at <strong>Brown Harris Stevens<\/strong>, a Manhattan-based brokerage headquartered on Park Avenue. <\/p>\n\n\n\n<p>Prior to that, Wollberg spent 12 years as managing director of another Park Avenue-located brokerage, <strong>Halstead Real Estate<\/strong>, according to his <strong>LinkedIn <\/strong>page. And Wollberg was once managing director with <strong>Atco Residential Group<\/strong>, a Manhattan brokerage.<\/p>\n\n\n\n<p>The hire recalls Side plucking <a href=\"https:\/\/preprod.housingwire.com\/podcast\/sides-spencer-krull-on-brokerages-los-angeles-real-estate\/\">Spencer Krull<\/a> to be the managing director of its Southern California region in 2020. Krull brought his own resume of managing high-end Los Angeles brokerages, and a good reputation among the who\u2019s who of L.A. real estate. Wollberg, a longtime active member on the <strong>Real Estate Board of New York<\/strong>, enjoys similar esteem.<\/p>\n\n\n\n<p>\u201cJohn is one of my favorite people in the business,\u201d said <a href=\"https:\/\/preprod.housingwire.com\/podcast\/manhattan-merger-mystery-a-conversation-with-frederick-peters\/\">Frederick Warburg Peters<\/a>, CEO of <strong>Coldwell Banker Warburg<\/strong>. \u201cHe is smart, ethical and generous of spirit. Any organization which hires John has hit a home run.\u201d<\/p>\n\n\n\n<p>But unlike Krull in Los Angeles, who came in after Side recruited agents such as Ben Bacal and Anthony Margules, Wollberg is a managing broker with no one to manage.<\/p>\n\n\n\n<p>Side CEO Guy Gal addressed the company\u2019s New York strategy over email.<\/p>\n\n\n\n<p>\u201cWhen we started partnering with agents in Los Angeles, we already had a presence in California \u2013 it was a new market, but not a brand-new state,\u201d Gal wrote. \u201cAs we expand into new states like New York, we\u2019ve prioritized hiring exceptional managing brokers, like John, who can be our boots on the ground.\u201d<\/p>\n\n\n\n<p>Gal declined to say what agents Side is targeting, but stated, \u201cWhen we launch our first partnership in New York, John will be there from day one.\u201d<\/p>\n\n\n\n<p>Fueled by venture capital money, Gal started Side in 2017 as a white label brokerage that would recruit well-established, high performing agents.<\/p>\n\n\n\n<p>Those agents \u2013 like Bacal\u2019s <strong>Revel Real Estate<\/strong> and Marguleas\u2019 <strong>Amalfi Estates<\/strong> \u2013 create their own consumer-facing brand (what the company calls partnerships) and tend to bring on a team of agents from their prior brokerage. Side, in turn, provides administrative and back-end support. Side collects 10% of each sales commission with the agent keeping the rest.<\/p>\n\n\n\n<p>Besides California and now New York, Side is a registered brokerage in Texas, Florida, and, starting last month, Oregon, Washington state, Washington, D.C., Maryland, and Virginia.<\/p>\n\n\n\n<p>Nearly a dozen &#8220;partners&#8221; made the <a href=\"https:\/\/www1.realtrends.com\/rankings\/real-trends-1000-mega-volume-2021\" target=\"_blank\" rel=\"noreferrer noopener\">RealTrends 1000 list<\/a> in 2021, headed by Brett Jennings&#8217; Real Estate Experts in Campbell, California, which tallied $462.2 million worth of real estate, good for #30 on RealTrends&#8217; list of mega teams.<\/p>\n\n\n\n<p>Still, the company is not growing quite as fast as once planned.<\/p>\n\n\n\n<p>In June, Side <a href=\"https:\/\/www.prnewswire.com\/news-releases\/side-real-estate-technology-company-raises-another-50m-more-than-doubling-valuation-to-2-5-billion-three-months-after-becoming-unicorn-301321203.html\" target=\"_blank\" rel=\"noreferrer noopener\">announced<\/a> that it had \u201craised over $200 million in just three months\u201d from venture capital investors and claimed a valuation of $2.5 billion. \u201cRaising over three $200 million in just three months, Side prepares to enter 15 new states by 2022, paving way for IPO,\u201d declared a press release.<\/p>\n\n\n\n<p>Besides being in nine states, counting D.C., and not 15, Side has given no further plans for an initial public offering of company stock.<\/p>\n\n\n\n<p>\u201cWe don\u2019t have any particular timetable,\u201d Gal emailed, regarding the IPO. \u201cIt\u2019s not something we think about very much. We are singularly focused on helping our partners grow their businesses and provide extraordinary services to their clients.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>San Francisco-based Side has taken the side entrance into New York. The real estate brokerage has not announced agent hires, but it has tapped a managing broker for the state in John Wollberg.<\/p>\n","protected":false},"author":16592,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[736],"class_list":["post-2772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fast-growing brokerage Side enters NYC - RealTrends - Blog<\/title>\n<meta name=\"description\" content=\"San Francisco-based Side has taken the side entrance into New York. 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