Better Homes and Gardens Real Estate Gary Greene Announces Merger With Heritage Texas Properties to Create One of the Nation's Largest Real Estate Firms
Combined Company Now Almost Doubles Productivity of Nearest Houston Competitor
Merged Company Stakes Its Place in the Luxury Market
HOUSTON, Aug. 27, 2019 /PRNewswire/ -- Better Home and Gardens Real Estate Gary Greene ("Gary Greene" or the "Company"), Houston's number one residential real estate firm, today announced the completion of a merger with Heritage Properties Texas ("Heritage"), Houston's fifth largest independent firm. The merger brings together two firms with rich histories and a combined century of residential real estate service in Houston, with established reputations for fostering innovation and empowering agents to reach their full potential.
Key Points:
- The merged company takes a nearly 6% market share in the Greater Houston Metropolitan area MLS
- The combined company now leads its nearest Houston competitor by 90% sales volume and 75% in transaction sides, respectively, according to the Houston Business Journal
- When considering the recent REAL Trends 500, the combined brokerages would have ranked 46th nationally in sales volume and 42nd in transaction sides with a collective $3.65 billion in 2018 sales volume and 11,839 transaction sides in 2018.
- The merged company increases its luxury real estate presence with more than 200 properties currently listed at more than $750,000, the third highest of any area firm according to the local Houston area MLS
This merger creates a powerful force in the Houston real estate market with the newly combined Company taking a nearly 6% market share, and signals to the residential real estate industry that locally owned, agent-centric brokerages with forward-thinking technology will continue to lead from a position of strength by prioritizing their agents and customers.
For consumers, the combination of these two brokerages delivers a new powerful real estate company with expanded international resources and reach, deeper local roots and stronger bonds in the communities we serve. The new brokerage firm will retain the iconic, regionally and nationally recognized brand of Better Homes and Gardens Real Estate Gary Greene.
"Gary Greene has been and continues to be recognized as a vibrant and integral part of the Greater Houston Metropolitan area. This is an exciting day as we announce the joining of two of Houston's most distinguished locally-owned real estate companies. As a leading real estate firm throughout the region, expanding and increasing our footprint just made natural sense," said Mark Woodroof, Managing Partner of Gary Greene. "And, as members of the combined leadership team worked together, it was abundantly clear how similar we are in terms of culture, support and family — it only made sense to join forces and grow that family."
The combined company, with 24 offices, will host just over 1,300 agents and serve Houston, Memorial, Cypress, Katy, Galveston, the Bay Area, Lake Conroe, Kingwood, The Woodlands, Sugar Land and Pearland — and the communities in between. Gary Greene will also leverage seasoned leaders from both organizations, industry-leading agent tools and the knowledge of their combined agent base.
The Company will continue to be headquartered at the Decorative Center on Woodway Dr. and is pleased to announce the Post Oak and Memorial Green offices of Heritage will become boutique locations for Gary Greene's "Distinctive Collection" luxury brand.
"This is an important transaction for Gary Greene and we are incredibly proud to have Heritage join the Gary Greene family. Our core values are closely aligned as both companies have a team-oriented culture made up of very productive and collaborative agents," said Marilyn Eiland, Co-Managing Partner of Gary Greene. "This merger allows us to continue to support the communities in which we live and call home."
For nearly 57 years, Gary Greene has served as Houston's longest-standing brokerage, which started with one office in southwest Houston, and continues to execute a real estate vision that prioritizes service, local expertise and careful stewardship of our local communities. Today, Gary Greene has listed and sold more property than any other real estate firm in the area and maintains the leading market share in most neighborhoods. In 2018, the Company was the No. 1 real estate firm with over 8,300 transactions totaling $2.5 billion in sales volume.
Heritage, founded in 1976, is known for delivering an exceptional, customized real estate experience. The firm's mission -- to be trusted advisors for clients who love the area, want to become part of the community and partake in the incredible lifestyle. In 2018, Heritage was the No. 5 real estate firm with over 3,400 transactions totaling $1.3 billion in sales volume.
Robin Mueck, CEO of Heritage said, "Mark, Marilyn and I have known each other for over 25 years. We were among the first companies in Houston real estate to successfully pioneer emerging technologies for our agents, and over the years we've had many conversations around real estate and innovation. So, when opportunity presented itself to join forces, it made perfect sense. My most important priority in this move is making sure our agents and staff have a place where they can continue to grow and thrive -- and most importantly call home. We know Gary Greene is that place and that 'Together We're Better'."
This merger takes the Company far beyond the reach of its competition based on 2018 combined market results of $3.8 billion in sales volume and over 12,000 transactions, which is far greater than Gary Greene's nearest competitor. The Company also strengthens its position in the luxury market rising to number three in listings taken in homes over $750,000.
About Better Homes and Gardens Real Estate Gary Greene
Better Homes and Gardens Real Estate Gary Greene has represented buyers and sellers of residential properties since 1963. Today, with 24 offices, and over 1,300 agents covering 10 counties across the Houston metropolitan area, Gary Greene lists and sells more homes and generates higher sales volumes than any other Houston broker. To learn more about the company visit www.GaryGreene.com.
The company also specializes in the relocation of buyers and sellers nationally and internationally as a principal broker in the Cartus Network, the industry leader in global mobility. Gary Greene offers the convenience of an in-house residential mortgage loan originator, insurance and title services, preferred electricity rates with Reliant Energy and home warranty protection plans.
For More Information Contact:
Better Homes and Garden Real Estate Gary Greene
Shari L. Mattern, Director of Marketing and Communications
Tel: 1713.702.4621
Email: [email protected]
SOURCE Better Homes and Gardens Real Estate Gary Greene
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