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Home Sales Palm Beach (HSPB), a 48-agent brokerage based in Jupiter, Florida, will merge into Atlantic Shores Realty Expertise ERA Powered, part of Anywhere’s ERA Real Estate division, The Real Deal reported on Monday.
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The announcement of the merger came from HSPB founder Gregg Amaral, whose decision to partner with ERA Real Estate was driven by its commission structure, which closely aligned with HSPB’s existing model.
Gregg Amaral
Amaral founded HSPB in 2018, leading the firm to success across Jupiter, Palm Beach Gardens and Stuart, Florida. The group has consistently closed about $120 million in annual sales, primarily in the Jupiter and Palm Beach Gardens markets, Amaral shared with The Real Deal.
HSPB will continue to operate out of its Jupiter office at 2562 West Indiantown Road and its Stuart office at 4836 Southeast Railway Avenue, with Amaral staying on as managing broker.
Amaral sees the move as a growth opportunity. Although the company had approached him earlier this year, he revealed that multiple brokerages had shown interest in acquiring HSPB over the past couple of years.
“We’re really going to try to recruit more, train more,” Amaral said. “I really think we’re going to grow substantially.”
Jupiter and Palm Beach Gardens’ luxury markets, especially within gated communities like Admirals Cove, Bear’s Club and Old Palm Golf Club, have remained strong over the past year.
Amaral said that he anticipates that the Federal Reserve’s recent rate cut will further stimulate the market, particularly in the $1 million price range. This adjustment follows a period of high interest rates — the highest in two decades — implemented to combat inflation.
“We think we’re going to see some buyers coming off the sidelines here,” he said.
The booming real estate market in Jupiter and Palm Beach Gardens has attracted major South Florida brokerages, many of which have expanded their presence in the area. The Corcoran Group, a brand owned by a subsidiary of Anywhere, opened an office in Palm Beach Gardens in 2022, while Compass followed suit last year.
