ERA Real Estate expands following mergers and acquisitions

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Charlie Young, CEO of ERA® at IBC Orlando

ERA Real Estate to grow its presence in San Francisco and Houston

Note: A version of this article, written by Erik Pisor, originally appeared on Inman.com

  • 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.

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 $20 million in volume each last year.

In Houston, ERA will grow via the actions of Latter & Blum Inc. ERA Powered and its most recent area affiliate Realty Associates. The later has roughly 1,700 agents and was recently acquired by Latter & Blum, which is ERA’s long-time affiliate.

According to Young the franchise firm continues to attract affiliates because of the tools it provides. Roughly 90 percent of its affiliates are on the “Zap” platform, which if from ZipRealty and provides branded websites, a customer relationship management system, transaction management, digital marketing and “agent coaching” reports. Other tools include agent education programs and a broad marketing suite.

In the last five years ERA Real Estate has formed affiliations with a number of locally or regionally-focused brokerages and expanded into Denver, Louisville, Charlotte, Raleigh, Los Angeles and Nashville. The firm’s agent count is said to have grown by 21 percent year-over-year in 2015.

ERA’s parent company is Realogy Holdings.

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ERA Real Estate is an innovative franchising leader in the residential real estate industry with more than 40 years of experience in developing consumer-oriented products and services. The ERA network includes approximately 36,000 brokers and sales associates and approximately 2,350 offices throughout the United States and 33 countries and territories. Each office is independently owned and operated. ERA Real Estate is a subsidiary of Realogy Holdings Corp. (NYSE:RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.