Real Estate Agency Gets New Partners

Dave Fulton, owner of Century 21 Dave Fulton Realtors in Fayetteville, has two new partners.

Bert Cupit and his brother, Michael Cupit, bought a portion of the real estate agency in a deal that closed Dec. 31. The terms of the purchase weren’t disclosed. Bert Cupit says that he and his brother have equal ownership in the company.

Bert Cupit is a former institutional broker with The Llama Co. and Dean Witter Reynolds Inc. Michael Cupit is a partner in a Ford dealership in Franklinton, La. Both men left their jobs to join the real estate agency.

Cupit says he plans to add about 20 agents to the 50 agents already working for the company. He also plans to double the company’s commercial real estate division. Currently, commercial real estate sales account for less than 15 percent of the company’s $60 million annual revenue.

Cupit says he expects the company to continue growing by 10 percent each year.

Fulton says he will spend more time working on obtaining listings and leave the administration of the agency to his new partners.

Neither of the brothers has ever sold real estate. They plan to obtain their real estate licenses by end of the January. Fulton says he is teaching them the business.