By Logan B. Anderson

MILFORD — Coldwell Banker Resort Realty is in the final stages of a merger that will see its reach extend from the shore to the mountains.

Earlier this year, the Rehoboth Beach-based firm with offices in Lewes, Milford, Rehoboth Beach and Seaford, announced it was joining forces with another Coldwell Banker firm to become Coldwell Banker Premier.

In recent weeks, passersby may have noticed that the local offices have begun to update their signage and logos to the new company name.

“We are working on getting things finalized. The real estate commission has approved our offices. Now we just have to get everything switched through the (Multiple Listing Service), the local Sussex County Association of Realtors,” said Milford Coldwell Banker Premier broker-manager Joanne Milton.

Coldwell Banker Premier was established by Steve DuBrueler in 1994 and had eight offices serving Virginia, West Virginia, Maryland, Pennsylvania and D.C. The merger brings the company to 12 offices with more than 150 agents.

“It gives us from mountain to shore coverage” Ms. Milton said.
She added the new combined Coldwell Banker Premier will bring more resources to her office and opportunities for her customers.

In a statement released when the merger was announced, Mr. DuBrueler touted the connection to Delaware and what the resort area could mean to his customers in Pennsylvania, Maryland, West Virginia and Virginia.

“Our two companies have decades-long legacies of success … This move allows our clients along the I-81 corridor the opportunity to easily explore second-home ownership along the coast. Joining forces will also allow both groups to be stronger, more agile and better equipped to navigate the ever-changing landscape of the real estate industry.”

In Milford, Ms. Milton has been busy getting ready for the merger. She has upgraded and redecorated the office at 711 N. Dupont Blvd.

As broker-manager of the Milford location, Ms. Milton is responsible for the realtors who work from her office.

“Everyone that works in this office works under my license. I am responsible for the work they do. So, if there’s a question, if there’s a complaint on that agent, I am equally responsible for what they’ve provided. And the reason that is, it’s up to me to train them, to make sure that they get their continuing education, that I keep them abreast of all changes in our industry that come about whether it be representing the buyers, the sellers, or just conduct. I am the person that oversees all the transactions that go in and out of this office,” she said.

Ms. Milton has worked in the housing industry in one form or another since she was 15 years old. But it was her time in the military that really set her on the path of a career in real estate.
She’s worked in the flooring and lighting industry and she spent time working for Lowe’s Companies Inc. in its lighting, home décor and plumbing divisions.

“I’ve been in the business for 15 years. The reason I got in the business is we were active-duty Air Force. I traveled around the world. I set up 12 households, four of those households were sold while we were living there. And I found that I did a fabulous job promoting each and every one of those sales. I knew I could do this,” Ms. Milton said.

“It’s a natural fit. I love what I do. I like helping create community because I’ve had to do that over and over and over again and make it somewhere my family wanted to be. So, I try to do that for all my clients to answer the questions that I knew I had.”

In recent years, the housing market has been booming. Home prices have soared and many homeowners have taken advantage of the market. Through the COVID-19 pandemic, locally and nationally, people working from home have ventured out to new less congested locations like Delaware. Demand and a scarcity of inventory has made a sellers’ market, but that may change soon.

“The market is a little transitional. We’re seeing a slight slowing of traffic… Not enough inventory to meet demand, which drove the prices where they are. I don’t expect a huge drop in price through probably the end of the year,” she said.

For the past year, many sellers have seen quick sales, and that is starting to change. Though Ms. Milton predicts that there won’t be a large swing in the real estate market in 2022, she sees the writing on the wall.

“It’s taking a little bit longer. Where they were selling in three days, we’re now seeing fewer offers at one time and few more days on the market. So that’s a sign of the market correction,” she said.

While established homes have been selling consistently, new construction in the Milford area is still king for buyers. Recent supply chain slowdowns have impacted the new home construction industry. Ms. Milton said some buyers may have to wait upwards of two years before they can take possession of their new homes.

“There’s still supply chain issues with cabinetry or with appliances. Those things are still unavailable,” Ms. Milton said.
The Milford real estate broker’s best advice to prospective buyers is to use a professional realtor and make sure they have the money they need. Currently, many sellers are receiving multiple offers for their homes, some over the asking price, so they don’t have to make many concessions, like paying for closing costs, etc.

Her advice for sellers who may be on the fence about selling their home is to, “get off the fence soon.” She expects changes in interest rates and other factors may start to bring down home prices. She expects to see those changes in 2023.

For more information, call Milford Coldwell Banker Premier at 302-422-8200 or visit cbanker.com.