Century 21 Scheetz is acquiring Century 21 Rasmussen Co. Both brokerages operate in Indiana.

A pair of Century 21 franchises in Indiana have joined forces, creating a company with hundreds of agents in nine different offices.

The deal involves Century 21 Scheetz acquiring Century 21 Rasmussen Co. According to a statement, Century 21 Scheetz was the brand’s largest company in Indiana, while Century 21 Rasmussen was “a leading brokerage” in the city of Carmel. Century 21 Rasmussen will bring roughly 20 agents to the company, which will now have a combined total of about 400 agents working out of offices in Indianapolis, Avon, Bloomington, Carmel and other cities.

The brokerages did not disclose financial details of the deal.

Larry Rasmussen

Larry Rasmussen has been the broker-owner of Century 21 Rasmussen since the early 1980s. In Tuesday’s statement, he said that he was excited to partner with the team at Century 21 Scheetz.

“From the first day I started my company, I created an office environment of independence and professionalism and held my team of agents accountable to going above and beyond and giving 121 percent to their clients,” he said. “Our plans are to build on the successes we’ve had over the years helping our clients get to the real estate outcomes they desired.”

Tracy Hutton, broker-owner of Century 21 Scheetz, similarly expressed excitement about the acquisition.

Tracy Hutton

“Larry (Rasmussen) and his wife Cathy are industry leaders, who for over 40 years have helped bring a higher-level of professionalism and goodwill to the market,” Hutton said in the statement. “For decades they and their outstanding affiliated agents have had a great reputation in our market area and have been community impact makers.”

The acquisition comes amid a broad period of consolidation in the real estate industry. Among other things, large firms have consistently been buying up smaller companies in recent years as they expand their service offerings. At the same time, local brokerages have gobbled up rivals while big brands compete for top teams.

In this most recent case, both brokerages involved in the acquisition are part of the Realogy family of companies.

Michael Miedler

In Tuesday’s statement, Century 21 President and CEO Michael Miedler praised Rasmussen for choosing to remain affiliated with the brand even while pursuing an acquisition.

“Our industry-leading focus on the consumer experience and delivering personalized outcomes are gaining in relevance,” Miedler added, “as industry professionals and consumers respond favorably to our growing momentum here in the U.S. and around the world.”

Email Jim Dalrymple II

Realogy
Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
The best event in real estate kicks off next week! Tickets are selling quickly.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription