SAN FRANCISCO & LOS ANGELES--(BUSINESS WIRE)--Avenue 8, the industry’s only mobile-first residential real estate brokerage, today announced the appointment of real estate luminary Nick Segal as the company’s first Managing Director, Southern California. In this role, Segal will be responsible for the continued development of Avenue 8’s West Coast presence, managing and growing the brokerage’s fast-growing team of Southern California agents, and helping to shape strategy, community engagement, and agent development for Avenue 8.
“Nick has long established himself as one of Southern California’s top real estate agents and executives, having personally sold well over a billion dollars of real estate and overseeing 20x that amount, while also setting the bar for professionalism and ethical practices in our industry,” said Justin Fichelson, co-founder, Avenue 8. “Not only is Nick celebrated by both clients and his peers as a top broker, his entrepreneurial success has demonstrated a keen understanding of what it takes to develop talent, serve his clients, and drive corporate growth, simultaneously. We are lucky to have a leader like Nick join us at the helm of Avenue 8.”
A nationally renowned entrepreneur, senior real estate executive, sought-after speaker and celebrated author, Segal has had an immeasurable impact in shaping the Southern California real estate market over his three-plus decades in the business. He founded and developed two of the most prominent real estate brokerages in the nation through both of their acquisitions and beyond: DBL Realtors, acquired by Sotheby's, and Partners Trust, acquired by Pacific Union International, after achieving more than $11 billion in sales in only eight years. While serving as CEO of Partners Trust and then Co-President of Compass after its acquisition, Segal received both the “Realtor of the Year” and “William May Garland” awards for industry excellence.
“Since day-one Avenue 8 has stood out by virtue of its tech-acumen, agility, and keen understanding of what it’s going to take to succeed in today’s market,” said Nick Segal, Managing Director, Southern California, Avenue 8. “Justin and co-founder Michael Martin get the new psychology of the modern agent and homeowner, and possess the digital savvy, creativity, and courage required to create something truly fantastic to benefit modern brokers and their clients. When I saw that Michael, Justin and the influential Investors of Avenue 8 shared that enthusiasm, I became inspired to join them. Avenue 8 is poised to be the brokerage of tomorrow, and I am thrilled to help the agency lead the charge into real estate’s next frontier.”
Avenue 8 was built expressly to make all residential real estate agents more mobile, nimble, and effective, while also allowing them to keep more of their income. Avenue 8 has seen rapid monthly agent growth and 95% customer retention since launching in March 2020, due in large part to the unique technology powering the Avenue 8 platform, which produces 4x more effective marketing ROI than industry benchmarks, while also saving agents hundreds of hours and unlocking millions of dollars in potential commissions. The company remains laser-focused on staying ahead of demand by bringing on top industry talent to lead key business functions, and consistently launches platform upgrades and new service offerings to the market.
“As the expectations of residential agents, buyers, and sellers evolve, we're observing technological advancement in the platforms serving these constituencies,” said Ryan Orley, Partner at Zigg Capital, an Avenue 8 investor. “The Avenue 8 team has an acute understanding for the needs of today’s successful brokers. Nick is a respected leader in the industry and has consistently demonstrated a forward-thinking approach throughout his career. Nick’s mindset perfectly aligns with that of Avenue 8, and we’re excited to see what he will bring to the table at a key inflection point for the brokerage and industry as a whole.”
With over 30 years in the real estate business, Segal brings deep expertise in real estate sales, property development, savvy negotiation, and corporate growth to Avenue 8. Prior to joining the brokerage, Partners Trust was one of the true thought leading and most successful real estate companies in Los Angeles. As CEO and President, Nick Segal championed early agent digital adoption strategies, agent empowerment programs, and was the chief architect of what has now become "Coming Soon," a marketing program adopted by brokerages across the country. As an industry innovator with an impeccable reputation, Segal's credibility and connectivity becomes one of Avenue 8's latest competitive advantages in the Los Angeles real estate market.
Segal has been recognized by multiple industry organizations and publications for his leadership in real estate. He is also a best-selling author of the definitive guide on success creation and negotiation, titled On Your Terms, co-written with his wife, Laura Segal, and is the host of “The Exchange'' podcast, where he talks with other entrepreneurs about their personal and professional playbooks, the power of partnerships, and more. Segal was raised in New York, relocating to Los Angeles in the 1980s before quickly establishing himself as a top Southern California real estate agent. Segal received his BA in Dramatic Arts from Vassar College.
Avenue 8 has seen unprecedented organic growth and agent demand since its launch and roll out in the greater Southern California market last year, with over 100 agents and nearly half a billion in home sales through its platform. The brokerage will continue its growth into additional national markets, including New York City and Miami, later this year.
About Avenue 8
Avenue 8 is a new kind of real estate brokerage — one that simplifies and elevates the experience for agents, buyers, and sellers. Through intuitive technology, integrated services and responsive human support, Avenue 8 provides the tools to manage real estate transactions with radical efficiency, giving agents the freedom to work how they want. For more information, visit: https://www.avenue8.com/.