Press Releases

CARMEL, Calif. - July 10, 2006 - The local branch of Prudential California Realty, with offices in Carmel and Monterey, has been sold to Real Estate Summit Group, Inc., by William L. Smith and Loretta Loop Smith. Diana Rubottom, president of Real Estate Summit Group, took over as broker/owner last week. Her partner and vice president is Stephen J. Ronan, MD. The company will continue to do business as Prudential California Realty.

William L. Smith will stay on with Prudential California Realty to mentor agents and list and sell properties as an associate broker, with expertise in residential, ranch, equestrian, and vineyard properties. This year Smith represented the buyer of the historic Marsh building in Monterey and brokered the sale of the Holman Ranch in Carmel Valley. The legendary, 392-acre former guest ranch to the stars went on the market in January 2006, with the sale closing last week.

Loretta Loop Smith will be retiring as managing broker. She joined Prudential California Realty after retiring from her real estate law practice five years ago. She ran the day-to-day operations of the company and was responsible for its significant growth.

William L. Smith founded Prudential California Realty in 1989, and has been one of the top 100 agents out of 58,000 Prudential agents nationwide for five of the last seven years. "At this point in my career I want to focus on growing relationships with my personal clients," said Smith, "so it makes sense to hand the keys to someone with extensive experience recruiting agents and opening new offices." That someone is Rubottom.

Rubottom has worked in real estate for the past 16 years. She is the founder and former president of Mt. Diablo Realty in the East Bay and has formerly held positions as vice president of Alain Pinel Realtors and manager for Coldwell Banker. As a mergers and acquisitions specialist for Prudential Real Estate Affiliates, she was instrumental in the Smiths' expansion and opening of the Prudential California Realty office in Carmel.

For more information about Prudential California Realty, please call 831-622-1500 or e-mail Diana Rubottom at Diana@PruCarmel.com.