2007 Press Releases
Oregon's Largest Real Estate Firm Expands into Southern Oregon
(Denver, Colo., April 5, 2007) - RE/MAX Equity Group, the largest real estate brokerage in Oregon, and one of the largest franchises in the RE/MAX International network, has acquired RE/MAX Ideal Properties, which has 97 brokers in three offices, one in Medford and two in Grants Pass.
RE/MAX Equity Group is owned by RE/MAX International, and now has more than 1,450 sales associates.
RE/MAX Ideal Properties was founded in 1984. It was purchased in 1998 by Bob Gervais, who will stay on as the southern Oregon manager of RE/MAX Equity Group.
Navigator Mortgage, RE/MAX Ideal Properties' mortgage company, was also acquired in the transaction and will be renamed Equity Home Mortgage.
In 2006, RE/MAX Ideal Properties sales associates sold 915 properties, valued at $246 million. This represents nearly 10 percent of all listings in the southern Oregon multiple listing service (SOMLS).
"We are excited about the synergy of this merger and the benefits it will provide to our agents and their clients," said Jim Homolka, president of RE/MAX Equity Group.
"RE/MAX Ideal Properties has been an outstanding company and Bob has done a great job of building market share. It's clear we share common goals and standards of service. This acquisition will strengthen RE/MAX presence within the I-5 corridor."
The expansion comes at a time when southern Oregon real estate values are rising sharply. The median price of a home in the SOMLS area has risen from $307,500 in February 2006 to $326,100 in February 2007.
RE/MAX Equity Group has been the number one real estate firm in Oregon and southwest Washington for the past 11 years.
RE/MAX International, founded in 1973, has more than 6,700 affiliated offices in more than 65 countries.
For further information, visit
equitygroup.com or remax.com.
