LAS VEGAS, June 21, 2016 /PRNewswire/ -- ERA Brokers Consolidated, one of Utah's leading real estate companies, has merged with Realty Executives of Nevada. The newly combined entity will do business as ERA Brokers Consolidated, which is now comprised of 11 offices and 300 affiliated sales associates. Last year, the newly combined operations were responsible for nearly $1 billion in sales volume and 3,400 transactions.
This merger connects ERA Brokers Consolidated along a 425-mile stretch of Interstate 15 from Salt Lake City to Las Vegas, positioning the firm to capitalize on the tremendous growth in the region.
Broker/owners Fafie and Jeff Moore, who will continue to provide local leadership for the firm, guided Realty Executives of Nevada's five offices and 175 independent sales associates to nearly half a billion dollars in sales volume in 2015. With this newly added affiliate in the Las Vegas market, the ERA brand's network has more than 37,000 affiliated brokers and independent sales associates in 2,350 offices throughout the world.
"With nearly 40 years in the ERA® system, ERA Brokers Consolidated has consistently pursued bold avenues for growth, from the unprecedented merger of five competitors in the early 1980s that led to its creation, to today's expansion into Las Vegas with the addition of one of the region's most respected firms," said Charlie Young, president and CEO of ERA Real Estate. "Our relentless focus on fueling growth for the ERA brand and our affiliated brokers is reflected in ERA Brokers Consolidated's strengthened presence as a powerful regional player spanning multiple states and markets."
"ERA Brokers Consolidated's growth plan has always targeted the multi-faceted, international city of Las Vegas and aligning with the right firm was crucial," said Neil Walter, CEO of ERA Brokers Consolidated, who represents the firm's second generation of leadership. "As leaders in both the local and the national real estate community, Fafie and Jeff Moore's company represents a 27-year commitment to the industry, their agents and their clients. Combining our firms represented a premier opportunity for us to enter the Las Vegas market."
"As we looked to take our firm to the next level and secure a successful path for the future, we sought a solution that included access to proprietary technology and robust marketing platforms in a network with both domestic and international reach in order to fuel growth for our independent sales associates," said Fafie Moore, former president and broker/owner of Realty Executives of Nevada. "Joining forces with ERA Brokers Consolidated opened the door to leverage across more markets and deliver enhanced value by tapping into industry-leading technology and professional development platforms."
"This transaction creates a complementary dynamic that will excite our independent sales associates and clients equally," said Jeff Moore, former broker/owner of Realty Executives Nevada. "Las Vegas is an international city and we are now connected to an international brand widely known around the world. In addition, the proven, forward-thinking management team of ERA Brokers Consolidated will carry forward our commitment to the community and our clients while leveraging growth opportunities in the region."
About ERA Brokers Consolidated
ERA Brokers Consolidated is a brokerage infused with proprietary real estate technology. The organization operates commercial and residential brokerages in Utah, Nevada, Arizona, and Idaho. With over 300 agents and staff, ERA Brokers Consolidated closed over 3,400 transactions worth nearly $1 billion in value in 2015, and it manages more than 1,200 property management units for its clients.
About ERA Real Estate
ERA Real Estate is an innovative franchising leader in the residential real estate industry with more than 40 years of experience in developing consumer-oriented products and services. The ERA network includes approximately 37,000 affiliated brokers and independent sales associates and 2,350 offices throughout the United States and 33 countries and territories. Each office is independently owned and operated. ERA Real Estate is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global provider of real estate services. ERA Real Estate information is available at: ERA.com.
Contact: Melissa Drake, 973-407-7904
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SOURCE ERA Real Estate