While real estate agents chase leads and close deals on houses, there’s another level of deal-making that takes place within the real estate industry: mergers, acquisitions, integrations and partnerships.
We’ll be recapping every week’s noteworthy deals that didn’t make it into print (and some that did) for your perusal.
We missed you last week!
The Council of Residential Specialists (CRS) announced a partnership with Move For Hunger, a non-profit organization that works with real estate agents and moving companies to combat the growing hunger problem across the country. “CRS is proud to partner with Move For Hunger, “said Janelle Pfleiger, CRS President, in a statement. “As real estate agents, we can connect people who are moving to Move to Hunger’s relocation companies who will help pack and deliver their non-perishable food items to local food banks.”
This week’s deals
22 Capital Partners, a venture builder and private equity company, announced that it has selected FedBid, Inc. as a technology partner for its 22 CityLink platform, an ecosystem to build smart cities through technology, education and innovation. “Gramercy District will be the first ground-up smart city in the Washington D.C. area, located in Loudoun County,” said the company in a statement.
Re/Max, LLC, has signed an agreement to purchase the master franchise for the Georgia, Kentucky/Tennessee and Southern Ohio Regions, which have been owned and managed for many years by the independent Re/Max Regional Services group.
National real estate franchisor, NextHome, Inc., announced new partnership with SmartZip Analytics, a predictive marketing solutions for the real estate industry. “The companies join forces to help real estate professionals leverage their personal databases for new business opportunities,” they stated in a press release.
LoanDepot announced it has completed the acquisition of Closing USA (CUSA), a national title, escrow and settlement company and it has entered into a definitive agreement to acquire its affiliate, American Coast Title (ACT). Terms were not disclosed. “This move is part of loanDepot’s long-term growth strategy, which includes strategic acquisitions intended to expand our portfolio with like-minded companies that share our culture and allow us to leverage existing operations, our proprietary technology, and our capabilities to their fullest,” said loanDepot Chairman and CEO, Anthony Hsieh, in a statement.
Century 21 Redwood Realty has expanded its footprint into Reston, Virginia, and Gaithersburg, Maryland, with two new offices, as part of its acquisition of ERA Pro Realty. “I had the distinct pleasure of meeting with the owners of Century 21 Redwood Realty earlier this year and was immediately impressed with their sincerity and sense of comradery,” said Don Smith, the former broker and owner of ERA Pro Realty, in a statement. “My staff and I are truly excited to be joining the Century 21 Redwood Realty family.”
Becky Babcock’s Path & Post Team, formerly a no. 1 team for ERA Franchise Systems, opened up its own independent brokerage company. “We’re taking our Path & Post brand to the next level, while continuing to innovate and provide the most opportunity for our clients,” Babcock said in a statement. “To do this, we needed the freedom of an independent brokerage, without the inherent constraints of being co-branded with a corporate franchise.”
PlanetRE, an enterprise cloud vendor for online real estate, announced that Re/Max Escarpment, a 475+ agent franchise company under the Re/Max Integra Canadian brand, has signed up for Socialite Millennial Website Search and CRM platform. “We have long sensed a shift in consumer search with the entry of millennials that demand more sophistication and automation in the home buying process”, said Conrad Zurini, Broker of Record of Re/Max Escarpment, in a statement. “The new millennial search offers us unique competitive advantages in lead capture, agent recruitment and currently an instant success with our top agents.”
American Home Shield, the largest home warranty company in the nation and a business unit of ServiceMaster, announced the acquisition of Landmark Home Warranty. “Landmark has accomplished remarkable growth and success offering comprehensive and reputable home warranties,” said Tim Haynes, president of American Home Shield, in a statement. “This, along with its customer-focused mindset, strong employee culture and entrepreneurial drive, makes Landmark a perfect fit for American Home Shield and ServiceMaster.”
Indian real estate developer Embassy Group has partnered with Coldwell Banker India to manage sales and marketing for Embassy Group’s residential projects. “We are very glad about our partnership with Coldwell Banker India,” said Reeza Sebastian Karimpanal, vice president of residential sales and marketing for Embassy Group, in a statement. “With luxury residential projects gaining popularity, it is important to reach out to the right target groups.”
Better Homes and Gardens Real Estate announced the addition of Davenport Agents in North Alabama to its franchise network. It will do business as Better Homes and Gardens Real Estate Southern Branch. “Huntsville is an under-the-radar technology hub, and we are thrilled to be entering this market,” said Sherry Chris, BHGRE CEO, in a statement. “The team truly understands their local market and are adept at helping buyers find the lifestyle they seek.”
Engel & Völkers North America, the North American operations for the European-based premium real estate firm, announced the expansion of Engel & Völkers Lake Tahoe through its partnership with Elder Group Tahoe Real Estate, a boutique real estate company serving the Lake Tahoe area, which brings veteran real estate advisor Alison Elder to the new Engel & Völkers Lake Tahoe shop. “With over 25 years of experience and exceptional in-depth market knowledge, Alison will be an integral part in expanding the scope of our premier services in the Lake Tahoe region,” said Anthony Hitt, CEO of Engel & Völkers North America, in a statement. “Her talent in navigating client relationships and impressive business acumen will ideally partner with Engel & Völkers’ global network to provide the best level of real estate services for buyers and sellers in the area.”