A pair of RE/MAX franchises in Massachusetts announced this week that they have joined forces in a merger that creates the second-largest RE/MAX brokerage in New England.
The merger combines the forces of RE/MAX Executive Realty and RE/MAX Best Choice, both of which hail from the Greater Boston metro area. The new brokerage, which will carry on under the RE/MAX Executive Realty banner, is now the “the second largest RE/MAX brokerage by volume in New England,” according to a company statement.
The newly combined brokerage’s more than 140 agents will work out of nine offices in communities that are clustered roughly an hour west of Boston.
The financial details of the merger were not publicly disclosed.
Annette Norton, who was the owner of RE/MAX Best Choice, will now serve as an agent at RE/MAX Executive Realty. In a statement, Norton said that her “excitement for this union runs deep, and I’ve personally been thrilled with how smooth and seamless the transaction had been.”
RE/MAX Executive Realty is also bringing Chris Arienti onboard to join the brokerage’s leadership team. Arienti previously worked as a team leader at a Keller Williams brokerage in the Greater Boston area. In a statement he described it as an “honor” to join RE/MAX Executive Realty.
“With so many opportunities to continue our leadership and credibility throughout this region — especially when it comes to serving the unique needs of buyers and sellers in the MetroWest marketplace — the union between RE/MAX Executive Realty and RE/MAX Best Choice will allow us to better arm all agents with the tools, training and management support needed to up-level their business,” Arienti added in the statement.
The merger comes at a time of great consolidation within the real estate industry. A few notable recent examples include Compass’ acquisitions of Pacific Union, Paragon and other companies, as well as Howard Hanna’s acquisition of Allen Tate Companies. Indie brokerages have been joining forces as well, with last month seeing for example the merger between Realty Austin and Reilly Realtors, both based in Texas’ capital city.
Along with Arienti, existing RE/MAX Executive Realty owner Bill Wright and manager Chuck Joseph will continue to lead the newly merged brokerage. In a joint statement, the two men said combining the two RE/MAX brokerages “is a tremendous opportunity to expand our market appeal and impact in the MetroWest region.”
“We have always held RE/MAX Best Choice and their agents in the highest regard,” the statement added, “and look forward to working directly with them to achieve even greater success in the region.”