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Dick Calafato, owner of All State Real Estate in Roseburg, said he prides himself on the support he provides to All State agents, such as his training classes. The number of agents has grown considerably since he started in 1972. Earlier this year, Calafato took over Chosen Properties, merging it into All State.
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ENLARGE
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In July Prudential Real Estate Services of Roseburg merged with Prudential Real Estate Professionals, based in Salem. Now the merger puts all the agents under one roof says Jerry Chartier, principal broker of Prudential in Roseburg
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Real estate companies competing with each other one day have been partnering up the next.
Nationally, as well as locally, real estate mergers have been described by some brokers as a necessity to keep a competitive advantage.
In July, Prudential Real Estate Services of Roseburg merged with Prudential Real Estate Professionals, based in Salem.
“With today’s market being what it is, we wanted to gain that advantage,” said Jerry Chartier, principal broker of Prudential in Roseburg. “And, we certainly did.”
That advantage, Chartier said, includes more marketing platforms and a higher level of technology. His company, as a result of the merger, is now listed at www.PrudentialHomeFinder.com.
It’s an expensive system, Chartier said. Having access to it benefits the local Prudential brokers, he said, as well as buyers in the area.
“With today’s cost factor of running a successful real estate brokerage, we either needed to get larger or fall by the wayside,” Chartier said.
Chartier said getting larger hasn’t changed the way the business is run locally. He said the same local customers see the same local agents at the same local office.
“With far more tools at their disposal,” he said. “And far greater support.”
The Real Deal, a publication covering New York’s real estate market, last month reported on a flurry of major brokerage mergers and acquisitions.
It quoted officials who said that during slower market times, as 2006 has been across the country, firms start looking at making acquisitions.
It’s a “never buy high” mentality.
“Economics is going to play a big part in this,” said Neil Hummel, owner of Century 21 The Neil Company Real Estate in Roseburg. “As an owner-broker, you’re always concerned about your overhead.”
Four years ago, Hummel wasn’t part of the Century 21 team. He said the national company was planning to enter the Roseburg market and was either going to buy him out or start a new office locally.
Hummel said he decided to make his business a Century 21 office instead.
That transition of an independent brokerage into a national company created new opportunities, Hummel said, including Internet technology and training.
“These new brokers that we’re having, they’re on the fast track,” he said. “They expect a lot of services from their broker-owner.”
Hummel said he gets e-mails from around the country about local properties because of online exposure. That likely wouldn’t happen as often without the Century 21 Web presence.
Nationally, as well as locally, real estate mergers have been described by some brokers as a necessity to keep a competitive advantage.
In July, Prudential Real Estate Services of Roseburg merged with Prudential Real Estate Professionals, based in Salem.
“With today’s market being what it is, we wanted to gain that advantage,” said Jerry Chartier, principal broker of Prudential in Roseburg. “And, we certainly did.”
That advantage, Chartier said, includes more marketing platforms and a higher level of technology. His company, as a result of the merger, is now listed at www.PrudentialHomeFinder.com.
It’s an expensive system, Chartier said. Having access to it benefits the local Prudential brokers, he said, as well as buyers in the area.
“With today’s cost factor of running a successful real estate brokerage, we either needed to get larger or fall by the wayside,” Chartier said.
Chartier said getting larger hasn’t changed the way the business is run locally. He said the same local customers see the same local agents at the same local office.
“With far more tools at their disposal,” he said. “And far greater support.”
The Real Deal, a publication covering New York’s real estate market, last month reported on a flurry of major brokerage mergers and acquisitions.
It quoted officials who said that during slower market times, as 2006 has been across the country, firms start looking at making acquisitions.
It’s a “never buy high” mentality.
“Economics is going to play a big part in this,” said Neil Hummel, owner of Century 21 The Neil Company Real Estate in Roseburg. “As an owner-broker, you’re always concerned about your overhead.”
Four years ago, Hummel wasn’t part of the Century 21 team. He said the national company was planning to enter the Roseburg market and was either going to buy him out or start a new office locally.
Hummel said he decided to make his business a Century 21 office instead.
That transition of an independent brokerage into a national company created new opportunities, Hummel said, including Internet technology and training.
“These new brokers that we’re having, they’re on the fast track,” he said. “They expect a lot of services from their broker-owner.”
Hummel said he gets e-mails from around the country about local properties because of online exposure. That likely wouldn’t happen as often without the Century 21 Web presence.
Ten percent of buyers are exposed to properties, Hummel said, because of the Internet. He said that figure will continue to rise.
It’s part of “the generation of 20-somethings” getting involved in the market, both as agents and buyers, Hummel said. They have a built-in knowledge of technology and it’s up to the industry to stay current.
Hummel said merging and expanding companies can create the resources to do just that.
“You either stay up with your competitors or you’re going to be left in the dust,” he said.
Merging or franchising with a major name in real estate isn’t seen as vital to all area brokers. Dick Meyer, of Dick Meyer & Associates Realtors in Roseburg, said he has been presented with that opportunity many times over the years, but has always decided against it.
In business since 1982, Meyer said he believes the way he runs his business allows him to deal with people one-on-one and provide “user-friendly” service.
“I like my independence,” he said.
Dick Calafato, owner of All State Real Estate in Roseburg, said he prides himself on the support he provides to All State agents and customers.
The number of agents has grown considerably since he started in 1972. Earlier this year, Calafato purchased Chosen Properties. While not literally a merger, Calafato did merge the Chosen Properties staff into All State’s business.
“It’s more prudent to buy that type of company than to start from scratch,” Calafato said. “If you can find a company like Chosen was, it was a good company that has a good reputation.”
The principal broker of Chosen Properties was looking to sell and Calafato was looking to grow. Calafato currently has 17 All State offices, with an 18th on the way.
That includes a Cottage Grove agency he bought in the last year and branded with the All State name.
Moves like that can create excitement, he said. At the same time, when he’s purchasing a company, the result really has to work for everyone.
Calafato said he looks for a company that has “honest and ethical” people working for it.
“The major asset of a real estate company are the sales people,” he said. “If you only buy furniture, fixtures and equipment, you’re going to go broke pretty quick.”
Buying another company — furniture, fixtures and all — also has benefits over simply trying to attract a competing firms’ agents, Calafato said.
Agents often have a loyalty to a broker and their company.
“It makes a lot of sense if you can keep things the way they are and keep the team together,” he said.
• You can reach reporter Paul Craig at 957-4211 or by e-mail at pcraig@newsreview.info.
It’s part of “the generation of 20-somethings” getting involved in the market, both as agents and buyers, Hummel said. They have a built-in knowledge of technology and it’s up to the industry to stay current.
Hummel said merging and expanding companies can create the resources to do just that.
“You either stay up with your competitors or you’re going to be left in the dust,” he said.
Merging or franchising with a major name in real estate isn’t seen as vital to all area brokers. Dick Meyer, of Dick Meyer & Associates Realtors in Roseburg, said he has been presented with that opportunity many times over the years, but has always decided against it.
In business since 1982, Meyer said he believes the way he runs his business allows him to deal with people one-on-one and provide “user-friendly” service.
“I like my independence,” he said.
Dick Calafato, owner of All State Real Estate in Roseburg, said he prides himself on the support he provides to All State agents and customers.
The number of agents has grown considerably since he started in 1972. Earlier this year, Calafato purchased Chosen Properties. While not literally a merger, Calafato did merge the Chosen Properties staff into All State’s business.
“It’s more prudent to buy that type of company than to start from scratch,” Calafato said. “If you can find a company like Chosen was, it was a good company that has a good reputation.”
The principal broker of Chosen Properties was looking to sell and Calafato was looking to grow. Calafato currently has 17 All State offices, with an 18th on the way.
That includes a Cottage Grove agency he bought in the last year and branded with the All State name.
Moves like that can create excitement, he said. At the same time, when he’s purchasing a company, the result really has to work for everyone.
Calafato said he looks for a company that has “honest and ethical” people working for it.
“The major asset of a real estate company are the sales people,” he said. “If you only buy furniture, fixtures and equipment, you’re going to go broke pretty quick.”
Buying another company — furniture, fixtures and all — also has benefits over simply trying to attract a competing firms’ agents, Calafato said.
Agents often have a loyalty to a broker and their company.
“It makes a lot of sense if you can keep things the way they are and keep the team together,” he said.
• You can reach reporter Paul Craig at 957-4211 or by e-mail at pcraig@newsreview.info.
