GMAC Real Estate to get new name, CEO

Company-owned offices being sold to franchisees

The parent company of GMAC Real Estate is looking for a new executive to run the firm as it converts all of GMAC’s corporate-owned brokerage offices into independent franchisees.

Canadian-based Brookfield Residential Property Services, which acquired GMAC Home Services LLC last year, plans to drop the GMAC name and rebrand the company by the end of the year, said Graham Badun, Brookfield RPS’ managing partner and chief executive officer.