By Victoria Hurley-Schubert, Staff Writer
Henderson Sotheby’s International Realty and N.T. Callaway Real Estate have merged to create Callaway Henderson Sotheby’s International Realty, a partnership between the two agencies.
The merger was finalized on Jan. 9.
There will be six offices in the Princeton area, with two in Princeton and others in Pennington, Lambertville, Montgomery and Cranbury.
More than 200 agents are in the combined in the company. All the signs, yard signs and stationery have been updated to reflect the name change and new logo.
Norman “Pete” Callaway started N.T. Callaway Real Estate in 1973. Now his children, Norman T. Callaway Jr. and Karen Urisko, are co-owners and run the business with their father. Mr. Callaway will be the managing broker for the company.
His agency has a long history with Sotheby’s.
”I was the first affiliate when they started back in 1976 and founded Sotheby’s International Realty,” said Mr. Callaway. “(The merger is) the joining of two companies.”
N.T. Callaway left the Sotheby’s partnership about five years ago to keep his businesses identity, said Mr. Callaway.
The merger has been in the works for many months.
”Sotheby’s called last year and said ‘we miss you,’” he said. “We would have to merge with Henderson because they have the affiliation in our area.”
Mr. Callaway revisited the idea of affiliating with Sotheby’s again because of the growing strength the agency has developed with its marketing and online strategies.
”I think it became very apparent that in these last five years Sotheby’s has been working very hard in this difficult market and their marketing and website was very good,” said Mr. Callaway. “Their international capabilities are strong.”
Many sales to European buyers in recent years has made this niche an aspect of the business Mr. Callaway was looking to expand.
”It’s been going on for 10 years and it’s gotten stronger and stronger,” he said. “We are a college town and it’s very attractive to Europeans. Sotheby’s has a very good presence in the international market.”
The two companies came together in a 50-50-partnership between Mr. Callaway’s family and the two Henderson brothers.
”It’s two companies that came together to work under the Sotheby’s International brand,” said Mr. Callaway.
”We think it is a very positive thing, it’s two family companies that worked opposed to each other, and we have now come together to try and sell some of the houses that have been having trouble in this difficult market,” he said. “It is a benefit to the homeowners and to both companies now working together.”
Both companies sell all types of real estate, both residential and commercial and real estate management.
”Our bread and butter is houses that sell between $400,000 and $1.2 million,” said Mr. Callaway.
According to the agency’s website, John T. Henderson Sr. founded Henderson Sotheby’s International Realty with its first location at 116 Alexander Street in 1953. Three generations of Henderson’s have managed the family-owned businesses.
