Summary
GMAC Real Estate was a real estate franchised broker. It had 13,000 agents.[1] In 2008, it was acquired by Brookfield Asset Management and in 2012, it merged into HomeServices of America.
 | |
| Industry | Real estate |
|---|---|
| Founded | 1998 |
| Fate | Acquired by Brookfield Asset Management |
| Successor | Real Living |
History edit
GMAC Real Estate was founded in 1998, when GMAC (now Ally Financial) bought the Better Homes and Gardens Real Estate brand from Meredith Corporation.[2]
In 2001, John Bearden was named president and CEO of GMAC Home Services, the parent company of GMAC Real Estate.[3]
In 2002, the company ranked 6th in transaction volume among U.S. real estate companies.[4]
In 2006, the company awarded franchises in the St. Louis area[5] and in the Denver area.[6]
In 2008, GMAC Home Services LLC was acquired by Brookfield Asset Management.[7]
In 2009, Brookfield merged the company into its Real Living division.[8]
In 2012, HomeServices of America, an affiliate of Berkshire Hathaway, acquired Real Living.[9]
References edit
- ^ "Real Living joins GMAC realty unit in merger". The Columbus Dispatch. November 11, 2009.
- ^ "GMAC buys 'BH&G' real estate". Advertising Age. June 30, 1998.
- ^ "John Bearden to lead GMAC Home Services". American City Business Journals. October 2, 2001.
- ^ "Top 100 Ranked By Sales Volume". National Association of Realtors. July 1, 2002.
- ^ "GMAC Real Estate Awards Newest Franchise to St. Louis Area Real Estate Veterans" (Press release). Business Wire. September 28, 2006.
- ^ "GMAC Real Estate issues Cherry Creek franchise". American City Business Journals. January 11, 2006.
- ^ Witkowski, Wallace (September 23, 2008). "Brookfield Residential to acquire GMAC Home Services". MarketWatch.
- ^ "GMAC Real Estate to be renamed". Chicago Tribune. November 12, 2009.
- ^ Funk, Josh (October 30, 2012). "Buffett's firm buys Prudential real estate network". San Diego Union Tribune. Associated Press.