Beasley Real Estate, previously the 14th largest real estate firm in Washington with sales up to $302 million, is closing its doors permanently, according to an article by Andy Medici for Washington Business Journal.

The close happened after many top real estate agents left the company to go with Compass Realty, according to the article, something Bell said he didn't even see coming.

From the article:

“You want to go out on top when you are in a position like I am. I started Beasley the right way and I needed to wrap it up the right way,” owner Jim Bell said. "It has been tough for me to make the decision to close. But there is a time for everything"

Now Bell will become the executive vice president and global adviser of TTR Sotheby's International Realty. He said he intends to quickly bring in up to $100 million in additional sales and sink his teeth into the fierce competition between the company and Washington Fine Properties, the No. 4 residential real estate company by metro-area sales volume.