San Ramon, Calif.-based Prudential California Realty Pearson Properties has established itself in a new Northern California market, Merced County, by acquiring two real estate brokerages with more than 20 agents.
Both brokerages — Prudential California Realty, owned by Charlene Sloan, and RE/Max Central Valley Realty, owned by Tammie Miller — will now operate under the Prudential California Realty Pearson Properties banner.
Sloan will continue to serve as a real estate agent for Prudential California Realty Pearson Properties. Miller, who closed nearly 100 transactions in 2011 with her team, said the merger "offers my team and our agents an opportunity to provide an increased level of professionalism utilizing the company’s tools to market our listings, and expands our access to services and training that were previously unavailable to us."
Since affiliating with Prudential Real Estate in September 2010, Pearson has doubled the size of the company, making 13 acquisitions in the past 24 months. Pearson Properties Inc., which does business as Prudential California Realty, now has more than 500 agents and 20 offices in located in the San Francisco Bay Area, Sacramento and the Central Valley.
"The Merced County real estate market has had a lot of hard knocks and as a result, has created a very loose service environment," Pearson said in a statement. "We plan to go into the market and give full service to all clients, not just some."
In addition to attracting corporations that provide local jobs, Merced County is a bedroom community for some Silicon Valley workers, she said.
Franchisor Prudential Real Estate and Relocation Services was acquired last year by Canadian-based Brookfield Residential Property Services for $110 million.
The network’s biggest franchisee is Prudential California Realty, which provides services from 58 offices in Southern California from San Diego to Santa Maria.