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Three new companies arise in struggling Provincetown real estate market
(WICKED LOCAL) - It’s arguably the worst real estate market in decades. The number of property sales on the Outer Cape reportedly fell 60 percent in the first eight months of this year compared to the same period a year ago.
So what would possess not one but three groups of people to open new local real estate companies in this market? Is it insanity or crazy like a fox?
The latter option is the unsurprising answer, according to the owners of 3 Harbors, Robert Paul Properties and Camuso Real Estate. But they all acknowledge that opening for business in an industry with little business is risky. The helpful part is that all the brokers are familiar with the Provincetown to Eastham market, having worked with different local brokerage firms before.
At Robert Paul, the owners are Paul Grover and Robert Kinlin, who sold their eponymous brokerage to GMAC 10 years ago. Both men worked with Kinlin Grover GMAC for 10 years, well past their five-year non-compete clause. But when the agency changed hands several times between corporate owners in a relatively short period of time, the two men decided to go back out on their own. Robert Paul Properties opened in February in the same office the Provincetown branch of Kinlin Grover used to occupy at 162 Commercial St. and has two other offices in Osterville and Marion.
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