When buyers contact the Koch Team at Corcoran about the Palm Beach market, the mother-son duo of Paulette and Dana Koch share their unparalleled knowledge of the local real estate market and what it’s like to live on the idyllic island.
“We listen carefully and get to know our buyers and their goals,” says Paulette Koch. “We take them around and educate them not only about real estate values but also the lifestyle and culture in Palm Beach, so when they are ready to make a commitment, they will feel comfortable doing it.”
A top-performing, visionary broker who has been the go-to expert on Palm Beach real estate for four decades, Paulette Koch’s 25-agent company was purchased by The Corcoran Group in 2003.
“I have always been very progressive in how I approach business, and I was looking to the future of real estate,” Paulette Koch says. “When Corcoran approached me to sell my company, I knew it would be a great match, in large part because of the synergy between the Palm Beach, New York City and Hamptons markets.”
When the Corcoran deal immediately produced a substantial uptick in business, Paulette approached her son, Dana, about teaming up with her.
At the time, Dana Koch was working in real estate in New York, and he quickly got on board with the idea.
“I was about to get married, and we decided to move down to Palm Beach, and I joined my mom in the business,” Dana says. “The rest is history. We were able to build off of my mom’s foundation and reputation, and we continue to get better and better. We complement each other very well.” Dana, who transitioned to real estate after beginning his career in finance, holds an MBA from George Washington University.
“We perform financial analyses of the marketplace, so my background in finance is helpful,” he says. “I have also always had an affinity for architecture. So I have been able to apply my background and love of architecture to real estate, and I’m passionate about what I do.”
Paulette and Dana bring the perspective of two generations to appeal to a wide clientele while providing a full range of services that includes cutting-edge technology, robust social media marketing, and acting as a concierge for their clients.
Over the years, the Koch Team has consistently ranked among the nation’s top 1 percent of high-performing real estate brokers. In 2020 and 2021, they posted more than $1 billion in sales in the Palm Beach market.
“We are backed by a major national brand, and we have our own brand within a brand that has an impeccable reputation not only for getting our clients results, but also for our integrity and the way we do business,” Dana says.
“We pride ourselves on being a broker’s broker. People like doing deals with us because they know we will get it over the finish line. Successful brokers who retire often hire us to market their own properties, and that’s the ultimate compliment. It’s not only about making a sale; it’s really important that it be the right match, and facilitated smoothly with intelligence, so all parties are satisfied.”
The Koch team pride themselves on attaining their clients’ real estate goals and apply their considerable market knowledge and expertise to guide them.
“We have been doing this for a very long time, and whether we have our buyer’s hat or our seller’s hat on, we are able to give our clients insightful advice,” Paulette says.
At no point in time has that special expertise been more important than now, when demand for Palm Beach real estate is through the roof and inventory is historically low.
“We have been involved in many multiple bid situations over the last few months, and we have been able to come out on top for our buyers even when they are up against eight, nine or 10 bids,” Dana says. “For our sellers, we are able to finesse the process to ensure they get the highest and best number. Our long-time experience in the business is key.”
The island of Palm Beach only has 2,200 homes. Currently, there are 39 single-family homes and 60 condos on the market. Entry into the market is about $6 million, with homes selling for as high as $150 million or more. This week, the Koch Team has listed three penthouses in three separate buildings and a nearly new house in the sought-after Estate section.
“A perfect storm” has created unprecedented demand for Palm Beach, Paulette says.
“People are looking for a certain lifestyle and the ability to be outdoors, whether to play golf, tennis or ride bicycles, for the majority of the year,” Dana says. “We have culture, which includes museums, the Kravis Center for Performing Arts, and a burgeoning art scene with many galleries from around the world popping up, following their clientele.”
The restaurant scene is bustling, with restaurateurs from New York City, the Hamptons and other locales opening second and third outposts, while hedge funds, private equity firms and other employers have been establishing headquarters in the region to take advantage of the lifestyle and the lack of state income tax.
Further, with the telecommuting trend accelerated by the pandemic, many people no longer need to work in the same city where their office is based, giving them freedom to move to a desirable community like Palm Beach.
“People are looking to move here not only from the Hamptons and New York City, but Connecticut, New Jersey, Chicago, Michigan and even California,” Paulette says. “COVID has made people prioritize their quality of life over everything else.”
This article appeared in the February 2022 issue of Behind The Hedges magazine. The digital edition is available here.