BrokerageIndustry News

Get ready for real estate consolidation

News analysis: Following in the footsteps of the financial sector
Published on Oct 1, 2008

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by CareyBot

Last week, it was announced that Brookfield Residential Property Services, based in Toronto, Canada, would purchase GMAC Home Services LLC, which operates one of the largest real estate brokerage companies in the United States (see Inman News article). Brookfield owns the Royal LePage, La Capitale, Johnston & Daniel, and Centract real estate brands.

Like the banking sector, other industries are expected to consolidate in response to tough economic times. And experts say this is just the beginning of a major marrying of unlikely bedfellows in the real estate industry.

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