As the luxury brokerage continues to expand its Midwestern presence, it has strategically moved into Kentucky with Managing Partner Jason Farabee leading the new office, according to the company.
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Luxury brokerage The Agency has made its first foray into the state of Kentucky with a new franchise office in Louisville, the brokerage informed Inman.
The Agency Louisville office is led by Jason Farabee who also serves as managing partner.
“We’re pleased to expand into the thriving market of Louisville,” Mauricio Umansky, founder and CEO of The Agency, said in a statement. “We have found a wonderful partner in Jason Farabee, who we know will represent The Agency well in the state of Kentucky as our midwestern expansion continues.”
As it continues its global expansion, The Agency has launched offices in markets such as The Hamptons, New York; Kelowna, British Columbia; Boise, Idaho; Charlotte, North Carolina; and Telluride, Colorado, among others. During the first and second quarters of 2023, the brokerage launched 15 new offices in total.
Louisville, which is situated on the Ohio River along the state border with Indiana, is known for its horse racing and history of hosting the Kentucky Derby at Churchill Downs. Kentucky is sometimes classified as a Midwestern state and sometimes as a Southern state because of its somewhat in-between location among traditionally classified Northern and Southern states.
“As Kentucky’s largest city, Louisville is a prime market for us to enter next as we expand our presence in the Midwest,” Jim Ramsay, executive vice president of Franchise Sales at The Agency, said in a statement. “This flourishing city and all that it offers aligns perfectly with our brand as we continue to feed the demand across the country for a global brokerage like The Agency.”
Farabee brings more than 26 years of real estate industry experience to The Agency, having worked with brands such as Realty One and Sotheby’s International Realty during the course of his career, which has spanned across Kentucky and Southern Indiana. Farabee has gained experience across several market sectors, including undeveloped land, new construction, apartments, condos, single-family homes and multifamily homes.
Consistently named as a top agent in Kentucky, Farabee was one of the top Louisville real estate agents by sales volume and the only Louisville agent ranked as one of Kentucky’s top five agents by individual sales volume in 2022, according to RealTrends.
“I am honored to be a part of The Agency’s expansion and introduce this innovative brand to Louisville and the surrounding area, including Southern Indiana,” Farabee said in a statement. “The Agency’s groundbreaking tools, technology and global reach are truly unmatched and I am excited for local buyers and sellers to experience the brand’s fresh perspective and personalized service.”
As of July 2023, Louisville home prices were up 6.1 percent year over year to a median price of $252,000, according to Redfin. The number of homes sold was down 16.6 percent year over year to 838 homes.
The Agency Louisville is located at 4940 U.S. Highway 42 in Louisville.