BrokerageIndustry News

John L. Scott plans to expand in downturn

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Looking to grow during the downturn, John L. Scott Real Estate has hired a former RE/MAX International Inc. franchise sales consultant, Tim Wynne, to scout the Northwest for brokerages to acquire.As John L. Scott's new director of franchise development, Wynne's main responsibility will be to find opportunities to acquire companies in Washington, Oregon and Idaho, the company said. "The main reason for hiring Tim is the sheer fact that there are a lot of companies looking for exit strategies right now," said Joe Spencer, president and chief operating officer of John L. Scott. "We did not have enough personnel to handle the inquiries we are getting." As the market becomes more challenging, a lot of companies are also looking to realign their affiliation, Spencer said.Although Seattle-based John L. Scott is having discussions with real estate brokerages that want to affiliate themselves as company franchises rather than put themselves up for sale, the main goal is &quo...