One of the area's senior realtors and a force behind the growth of Stovroff & Potter Inc. is calling it quits. Stovroff & Potter president Thomas Doran retired last week after a career in real estate spanning more than 30 years.
Stovroff & Potter chairman Merle Whitehead has assumed the job of president at New York state's largest realty firm. Whitehead and Dolan are longtime colleagues. Both were officers at H. Potter Realtors Inc. before merging with Stovroff & Herman Realtors Inc. in 1996.
Judy Benjamin and Louise Amone, who were officers at Stovroff & Herman before the merger, remain executive vice presidents for Stovroff & Potter Inc.
Ms. Benjamin, Ms. Amone and Whitehead are partners in the corporation, which bought back Doran's shares as a result of his retirement, Whitehead said.
Doran's retirement is not expected to cause any changes in the organization's operations.
"Not much is going to change. All four of the partners have contributed to this organization in various aspects," Whitehead said.
Stovroff and Potter deals in some commercial real estate, but the Amherst-based company is primarily a residential home sales giant. The firm with 750 agents had a hand, as either selling or buying agent, in 7,362 transactions last year. The company has done more than $700 million in annual sales since its merger.
Doran was well known in the local real estate community for his work building H. Potter Realtors Inc. in the 1970s and 1980s.
"He took some bold moves and he was rewarded with success," said Thomas Hollander, president of the Greater Buffalo Association of Realtors.
Doran, 60, was traveling and could not be reached for comment.
Whitehead said his partner considered the decision over the course of several months and decided the timing was right.
"He's happy with the decision. I've seen him walking around here singing," Whitehead said.