Local developer Dean Welsh of Vertical Infill has affiliated with Harcourts USA to form Harcourts Prime Properties Carmel Valley.
Harcourts is a 125-year-old international real estate company with 800-plus offices in 10 countries.
The new office, located at 12671 High Bluff Drive, Suite 35, is the fifth Harcourts office to open in San Diego County. Welsh said the office, which will open with seven agents on March 1, should grow to 25 to 30 agents within the next year.
The other Harcourt offices include two in Carlsbad, one in downtown San Diego and another in La Jolla.
Welsh and his partners established Vertical Infill to assemble urban infill properties for development. Focusing on the North County market, Welsh placed developments totaling 800 units under contract.
Additionally, Welsh purchased, rehabbed and sold 35 residences in 2012. Previously, he was associated with O’Donnell/Atkins, a land brokerage and consulting company. He began his career in the financial services industry, working for Smith Barney and Merrill Lynch.
“Harcourts offers agents and business owners an extraordinary level of education, business planning and systems integration that is unavailable anywhere else in the industry,” said Welsh in a statement. “It’s no wonder that Harcourts is one of the top three producers in all of the other nine countries in which it operates. It’s only a matter of time that it reaches equal status in the United States.”
Harcourt’s 2012 numbers have yet be released, but the company reportedly handled a record $20.9 billion in sales for the 2011 financial year internationally.