Mergers and acquisitions involving regional brokerages are on the rise, and ERA Real Estate expects to be part of the continuing consolidation. During the first quarter of this year, the real estate firm added two new franchises and completed a local acquisition. Moving forward two markets where ERA expects to expand its market share are San Francisco's East/South Bay and Houston. Growth via affiliation In San Francisco, ERA's primary growth will stem from the actions of affiliate brokerage Legacy Real Estate & Associates ERA Powered, a Fremont-based brokerage with a focus on San Jose, Fremont, Pleasanton and Livermore. According to Charlie Young, president and CEO of ERA, Legacy recently acquired a predominantly Korean-based group. Legacy has five offices and 250 independent agents. Three of those agents sold 59 or more property last year, with one agent ranking as the 89th top performer in California. According to Real Trends, eight Legacy agents closed more than $...
- ERA establishes affiliations with regional brokerages that are established producers.
- Nearly all of ERA's affiliates are on the "Zap" platform.
- ERA will expand in San Francisco via mergers and acquisitions by Legacy Real Estate & Associates.