In what is probably the biggest shake-up in local real estate since the Oman-Rattan split in 1988, Brian Arrington, owner and president of Pacific Sotheby’s Realty, and Carey Guthrie, original manager and recruiter, parted ways Sunday after seven-plus years of growth from a small office in La Mesa to an expanded La Mesa office and four other offices in San Diego County.
Guthrie was the local office manager of the Re-Max office on Jackson Drive near Grossmont Center when she was hired by Arrington, who had acquired a four-year franchise from Windermere Real Estate.
She started the little office with a few agents who came with her from Re-Max and guided its growth to become one of the leading real estate players in San Diego County.
The small office in the 8200 block of La Mesa Boulevard was quickly filled to capacity, so while also managing the new Point Loma office, Guthrie oversaw the renovation and move to the larger building at 8310 La Mesa Blvd.
Three other offices—Mission Hills, Coronado and La Jolla—all opened under her management and guidance in the following years. Most agents and brokers I have talked to credit Carey Guthrie with being the driving force behind the success of Arrington’s real estate company.
The Windermere franchise was dropped in November of 2010 when he changed over to the Sotheby’s association.
I talked to Guthrie on Monday morning and she said she was sad and disappointed. But knowing her, there is no doubt she will again land on her feet and go on to do great things in the real estate community.
When contacted via email, Brian Arrington graciously took time from his vacation in Hawaii to write back, “The decision to make a management change was a business decision based on the direction I wish to take the company.”
Rick Hagen, the Pacific Sotheby’s Realty broker of Record, has not responded to my request for a comment.
I expect there will be fallout from this story for weeks, if not months to come.
Outsourcing by Title Companies
When I wrote about the two large Title Companies who outsource their information to be processed and distributed by large companies in India, I was, in fact, only scratching the surface.
I have since learned that almost all aspects of real estate transactions and information—including Multiple Listing Service data management, property and tax Information, document and transaction management, membership management and property management software—are outsourced to CoreLogic – Cognizant India.
No Truth to Rumor about Transfer Tax
A recent rumor circulating on the various websites needs some explaining. There is not a new 3.8 percent transfer tax on real estate due to the health care reform law enacted two years ago.
According to the National Association of Realtors, it is a tax on a narrow band of investment income for households who earn $250,000 jointly or $200,000 individually that may apply with the sale of a house when the gain is more than $500,000 for a married couple or $250,000 for an individual.
A free brochure is available through the federal tax code website.
Charlotte Reed is a Realtor with Windermere SoCal Real Estate in La Mesa. She can be reached at CharlotteReed@Cox.net or 619-997-7333.