The Long & Foster Companies Inc., the third-largest brokerage in the U.S., has acquired the big Philadelphia-based firm Century 21 Alliance.
Already the second-largest firm in Philadelphia, Long & Foster will creep closer to market leader Berkshire Hathaway HomeServices Fox & Roach Realtors with the addition of Century 21 Alliance’s 14 offices and close to 800 agents.
According to Real Trends stats, Fox & Roach Realtors was the market leader in Philadelphia in 2013 with 27,700 transaction sides. Long & Foster came in at No. 2 with 6,083 sides, followed by Century 21 Alliance with 5,718 sides.
“We’re ready to take advantage of all that Long & Foster has to offer, including its exclusive affiliation with Christie’s International Real Estate in our market, and we’re certain our agents and their clients will benefit tremendously from the training, marketing and technology support we’ll gain through Long & Foster,” said Ron Clarke, former CEO of Century 21 Alliance, in a statement. Clark will serve in a leadership position to help guide Long & Foster’s presence in the Philadelphia region.
In August 2013, Fox & Roach Realtors was acquired by HomeServices of America Inc., the U.S.’s second-largest brokerage.
Earlier today, the nation’s largest brokerage, NRT LLC, announced the formation of a new company-owned firm in central Pennsylvania that will compete with Prudential HomeSale Services Group for top spot in the Harrisburg-York-Lancaster market. The new firm, Coldwell Banker Residential Brokerage in Central Pennsylvania, was forged by merging newly acquired Coldwell Banker Select Professionals with company-owned firm Jack Gaughen ERA Realtors.