The local real estate agent opens a new agency
A local real estate agent recently launched his own business with an office that opened in downtown Wilmington in January.
Nicholas Newell, who had been part of Wilmington-based Coldwell Banker Sea Coast Advantage since 2018, said he wanted to go it alone. He started The Capstone Group LLC in an effort to recruit other agents, opening a Common Desk office at 226 N. Front St.
“Downtown is exploding with growth. It’s one of the biggest drivers for bringing people to this area,” Newell said, noting that many people moving to Wilmington have vacationed here first. , and that the city center is one of the main tourist attractions of the port city.
To capture this demographic, he said, “you’re seeing more and more real estate companies moving downtown.”
On top of that, Newell said, he thinks desks like those available in Common Desk are the wave of the future.
“If we go to other cities like San Francisco, New York, Houston, and any major metropolitan area in the country, those types of office environments thrive, and they thrive because the overhead is lower,” Newell said. “There are a myriad of benefits.”
Newell opened his business in a four-person suite, “but we can expand into a suite as large as 25 people,” he said.
To begin with, Capstone focuses on the sale of residential real estate and land. “I don’t want to grow faster than we’re able to maintain the level of customer service that I seek to maintain,” he said.
Newell said he is looking for brokers who are beyond the provisional broker stage.
“We also won’t hire someone who does real estate part-time. And that’s not to knock people who do real estate part-time or on the side… But if we talk general, usually someone who dedicates their entire schedule to real estate will be able to give you a better overall experience than someone who does it right next door,” Newell said. “And that’s mostly due to experience.”
A former candidate for Leland City Council and founder of the Saint Nicholas Christmas Foundation, Newell also earned a law enforcement certificate from Cape Fear Community College.
“Between COVID, the craziness across the country, and the success I started to see in real estate, I let my certificate expire,” Newell said. “That experience along with having family in law enforcement and many friends and neighbors led me to a business practice that I still practice today, which is that I give credit $1,000 closing loan to first responders at closing. I also work with lenders who match that.”