The Long & Foster Companies expanded its East Coast footprint this week with the purchase of Raleigh, N.C.-based Fonville Morisey Realty, which includes 12 sales offices and 600 associates, the company announced this week.

The deal also includes the purchase of FM Lending Services, and the title insurance agency Guaranty Title.

Under the terms of the agreement, the Fonville Morisey Realty name and entire organization for all three entities will remain intact. John C. Morisey, president and founder of Fonville Morisey Realty, and his management team will continue to run the operations under the Fonville Morisey name.

Fonville Morisey Builder Marketing Group and Community Properties, a land development company, are not included in the transaction, the company said.

Fonville Morisey Realty in 2005 was ranked the 41st largest real estate company by Real Trends magazine, an industry publication. The company reported more than 10,000 closed transactions and $2.6 billion in sales volume in 2005.

The Long & Foster Companies entered the North Carolina market in 2002 with the addition of Hall & Nixon as a licensee in Elizabeth City, North Carolina. In January 2006, Hall & Nixon became a company-owned Long & Foster office.

With the acquisition of Fonville Morisey Realty, The Long & Foster Companies now has nearly 19,000 agents and employees.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×