By William Jason - Staff ReporterMorgan Lane opens office in KentfieldMarin County - Luxury residential real estate brokerage Morgan Lane continued its expansion in Marin County recently with a new, 2,400-square foot office in Kentfield, the third of up to six locations planned for the county. Napa based Morgan Lane first entered Marin County last July in a joint venture with top-selling agent Tracy McLaughlin and her husband, broker and spec home developer Mark McLaughlin. The McLaughlin's, who hold a 75 percent interest in Morgan Lane's Marin County offices, plan to open a new Mill Valley location soon. Mr. McLaughlin said they are exploring other possible locations in Sausalito, San Rafael and Novato. Morgan Lane currently has 11 Marin County agents in Ross, Belvedere, and now Kentfield. Mr. McLaughlin said he hopes to grow that number to about 25 but does not see a need to expand much beyond that. He said the company's focus on the high end of the home market calls for a "small group of very specialized, highly trained agents." "We're focused on establishing a luxury brand," Mr. McLaughlin said. According to Mr. McLaughlin, the average transaction for Morgan lanešs Marin County offices in $2.9 million. In addition to traditional brokerage services, the company offers what it calls a "concierge" service. It advises seller on making improvements to their homes and connects them with vendors and contractors. Sellers "expect our agent to be able to walk in and say, 'Here's a list of 10 to 15 things we think you should do before you sell your home,'" Mr. McLaughlin said. Companywide, Morgan Lane has 12 offices and about 85 agents, most of them in Napa, Sonoma and Marin counties. The company has one office in Fairfield, which serves the Green Valley region of northwestern Solano County, and an office in Carmel. President and CEO Mike Silvas owns all of the offices except for Marin County and Carmel, which is also a joint venture. He said that, like Mr. McLaughlin, he is cautious about adding new offices or entering new markets because he wants to maintain Morgan Lane's luxury identity. He initially resisted an offer for Morgan Lane, finally agreeing after months of persuasion. "The corner of the market that we want to serve doesnšt require a lot of agents," Mr. Silva said. "We don't want to be a generic brand." Morgan Lane is the North Bay's seventh largest residential brokerage based on total sales dollars of locally brokered transactions in 2006. Among the 10 largest brokerages, Morgan Lane has the second highest average sales price, $1.1 million. Back to main Press page |