Daughter of Jacksonville real estate icon takes over local Coldwell Banker company - Jacksonville Business Journal:

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But heart surgery last year hastened thenearlhy 50-year real estate veteran’s decision to create a succession plan and slow down a So he sold his eight-office, 193-member team to friend and felloq Coldwell Banker broker Tom Harrington. Williams’ daughter, Monica is now in charge of the newly formed territory. “It’s a good thint we did what we did because it strengtheneedthe company,” said Hentschel, now a regional managinhg partner for Coldwell Banket Devonshire. “In a time when everybody else is we’re growing.
” With the acquisition of the Walter Williams officewin January, Illinois-based Devonshire Realty is the seventh-largesf Coldwell Banker affiliate in the Uniter States. The company has 27 15 of which are in Illinois and the remainingf 12 arein Florida, and it expects to continue to grow thoughb acquisitions of other real estate Harrington, CEO of the , which includes the real estatee company along with an architecture firm and an engineering firm, met Williamz at a Coldwell Banker conference in 1994, the year both of them joinesd the network.
Harrington’s expansion into the Floridza market came in 2007 when he acquired hisbrother Steve’s four-officee real estate agency in Central The Walter Williams acquisitiojn seemed a natural fit, Harrington said, because the two have alwaysw shared similar business philosophies. “Walter is reallyy a legend all throughourt Coldwell Banker and has been a mentor to Harrington said. The economy also played a lesser role in the Hentschel said. “We’d be kidding if we said the markeft wasn’t part of the decision,” she said, but “our storm wasn’t nearly as bad as places likeSouth Florida. Jacksonvill is so resilient.
” Business is strengthening, as sales were up 7.2 percenf in May at the eight Jacksonville-area Devonshire officesz compared withMay 2008. The decisionm to sell wasn’t an easy one to make for He’s been a major player in Jacksonville’s real estate industryt who started selling tracts of landin 1962. The residentialo division of Walter Williams Realty was createe in 1981 when he acquired the brokeragde offices ofanother long-time fixturr in the local real estate industry, Chester Ronnie Fussell worked for Walter Williamss from 1982 to 1992.
Williams, who was one of the foundinfg members of the Jacksonville City Council after the city and county governmentzs consolidated in 1968 and continued to servw on the council duringthe 1970s, took Fusselpl under his wing and taught him about real estate and publi c service. “A lot of what I am todayy is because ofWalter Williams,” said Fussell, whose term as City Councilo president ends soon. Many insides the business consider Williamsan “He’s a very good said 37-year veteran Russell a broker at and the regional vice presidenft of the . “I’m proud of what he built and what he’ s maintained over the years.
” Williams also inspiredd his daughter to get into the Ather father’s advice, Hentschel got her real estatee license at the age of 21, but went on to law school and worked as a prosecutor in the specia l assault unit at the stater attorney’s office in Jacksonville for 13 years. In 2004 she joined the WaltertWilliams team, first as a real estatde attorney for the title company and then as chiet operating officer for the entire company. At the age of 42, she’as now taking on her father’s role as the company’sz top executive in Northeast Florida. Williams will still have an actives role in the companyy asan adviser.
Although the pace is slower, he continuess to maintain his two other Estate Title LCand “He’s not spendingf weekends here and goes home at a decent Hentschel said. “And now he has more time for the most importanr thingto him, his