Mergers and acquisitions is the name of the game — especially in real estate — for companies seeking quicker market share growth.
Whether times are slow, steady or strong, companies like Manor Township-based Homesale Realty Services Group Inc., which does business as Prudential Homesale Services Group, are on the hunt.
But it's not just brokerage growth anymore. Property management is a growing segment and one that brokers are pursuing, said Doug Rebert, the company's managing director and co-owner.
Over the last three months, Homesale's property management subsidiary — East Hempfield Township-based American Heritage Property Management — has acquired two other companies.
The deals pushed American Heritage's unit total to 2,355 from 1,550 rentals, Rebert said. The company has 22 employees.
"It's part of a plan to increase our market share," Rebert said. "We are looking to acquire other property management and rental agencies."
The company's property management subsidiary currently operates only in Pennsylvania, but that could change, given Homesale's expansion into Maryland. And organic growth also is expected to take on greater emphasis moving forward, Rebert said.
Demand for new agents is growing as the housing market continues its climb back up, he said.
Homesale is already trending ahead of last year's $2.1 billion in closed-sale volume — by far the most in Central Pennsylvania. Rebert has projected $2.4 billion to $2.8 billion in 2013. Through June, transactions were up 14.2 percent compared with 2012, he said.
And so the big keep on growing. What about the rest of the pack? If your real estate company has success stories to tell or news about expansions, let me know about it.
Jason Scott covers state government, real estate, media and marketing, and Dauphin County. Have a tip or question for him? Email him at firstname.lastname@example.org. You can also follow him on Twitter, @JScottJournal.
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