Top independent brokerage Madden Real Estate in Fairbanks, Alaska, owned by Wes Madden, has been sold to Ed and Dar Walden, heads of The Walden Team, a division and mega agent team of Keller Williams Alaska Group.
Madden Real Estate has been the top real estate team in Alaska since 2009 and in the top 50 producing teams in Real Trends and in
the Wall Street Journal for the same amount of time.
Madden will retain a minority shareholding in his company, which has 13 agents and 10 administrative staff members, for several years to ensure the successful transition.
“It’s important to me that the company is successful and our legacy is carried on,” he said.
“It’s a great company with amazing people and culture; I would put it up against any in the country in terms of systems and processes,” he added.
Madden formed the Madden Team under his first brokerage, Coldwell Banker Gold Country in 2007 then went independent in 2009 as Madden Real Estate.
They have completed almost 4,000 transactions and $850 million in sales as Madden Real Estate since 2009.
Last year, the company’s agents did 606 transactions, totaling $137.5 million in sales volume.
Covering the interior and South Central Alaska real estate markets, the newly formed organization will continue to operate under Madden Real Estate with its headquarters remaining in its current home in Fairbanks and with Madden as CEO.
Mega team best fit for independent brokerage
Madden said his business ran like a mega team, so although he spoke to other traditional brokerages, he thought the best fit was with the Keller Williams mega team, based in Anchorage.
Fairbanks will be a mega agent expansion office in the new arrangement.
The independent brokerage owner was aided in the sale by Steve Murray, president of Real Trends, who valued the business and looked at suitors.
“The fact of the matter is, as a mega team as we basically were, Dar and Ed are best able to understand and provide the leadership and run the company,” said Madden. “I was not super confident that selling to a traditional broker would have been successful.”
Ed and Dar Walden, co-owners of The Dar Walden Team at Keller Williams Anchorage, Eagle River and the Valley real estate agencies, said they were looking forward to introducing their franchise to the Fairbanks area.
“We have worked with Wes over the years, referring business from the Anchorage area as well as partnering in many professional marketing and business relationships,” said Dar.
“This is the first true all-Alaskan real estate team; it’s never been done before, ” said Madden.
Next step for Wes Madden
In the next three to six months, meanwhile, Madden and his family are heading to Florida where the broker will be COO and sales manager at Scenic Sotheby’s International Realty. Madden shared a real estate coach, Bob Corcoran with Blake Morar, broker and co-owner of SSIR with Chris Abbott, who persuaded Madden to try Florida.
“It’s a unique opportunity. I couldn’t ask for better business partners or a better real estate market,” said Madden.
Madden, who is ex-military, said he will always have a connection with Fairbanks, Alaska, where he was deeply involved in local charities and instrumental in lobbying and working with the military to stay in the town.
“It’s not just a place that I ran a real estate brokerage; I fought for a large part of the community, ” he said.