As the unsold housing glut bulges and mortgage money becomes more challenging to obtain, Realtors are merging to save on costs and up efficiency.
One example: Key Properties of the Hudson Valley has merged with Holmes Real Estate, both located in Newburgh. They joined forces two weeks ago.
“In a consistently changing market, this move makes so much sense,” said Bob and Theresa Holmes in a prepared statement. “It gives us a chance to get more involved with the needs of individuals and businesses that can benefit from both of our companies”™ combined strengths in technology, marketing strategies and many years of experience.”
Rich Pasuit, owner/broker of Key Properties, expressed excitement over the merger. “We have 10 salespeople and associate brokers working out of my office, and Bob and Theresa Holmes have a staff of 10. I think together we”™ll make a pretty dynamic team of brokers and salespeople.”
The entire group will merge into Pasuit”™s Newburgh waterfront office, with Holmes”™ office phasing out its North Plank Road office over the next few months.
For Pisault, who has only owned his realty company for a year, it”™s an exciting time to be in the real estate business, despite the market”™s downturn and simmering recession.
“Residential customers need to have good credit scores and a good credit history. We do a lot of commercial real estate, and I”™m just in the process of putting together two $500 million deals. A lot of large companies are in foreclosure and right now, the market can be a boon to people who are in the right place at the right time.”
Pisault didn”™t always picture himself brokering real estate deals. “I was in corporate America as an executive, then bought a marina in Greenwood Lake, which soon grew to nine marinas. I got tired of working what seemed like a 500-hour work week. This is a much better fit for me.”
In another marriage, a pair of Orange County real estate agencies ”“ Century 21 Anarumo-ZOAR Realty and Century 21 Grand ”“ also have joined forces, combining into six offices with more than 150 agents under the Century 21 Grand name.
