BY ROY ALBERT ANDRADE, K1LLER, Inc.
SAN FRANCISCO & LOS ANGELES, CALIFORNIA - Competition leads to lower prices, and more choices for consumers. A current National Association of Realtors study reveals that 84% of home owners work with real estate brokers to sell their properties, and that nine out of ten home buyers work with real estate agents to find a house on the market. Right now, real estate professionals are using multiple listing services, an electronic tool that finds cooperative brokers working with buyers to help sell their clients' homes, to match home buyers and sellers. There are roughly 135 million housing units, and over 150,000 real estate sales agents in the United States.
San Francisco-based Pacific Union International, Inc., the eighth-largest real estate brokerage in the U.S. has disseminated its aim to unite brands with Los Angeles-based Gibson International, Inc. in 2018 to take an alligator-size bite out of the market. Gibson International is an independent boutique luxury brokerage with 160 real estate professionals in four offices in Brentwood, Marina del Rey, Pacific Palisades, and Santa Monica. Gibson International is expected to deliver a sales volume of $1 billion by the end of the year. Gibson International will assume the Pacific Union International brand in the first quarter of 2018.
Gibson International concentrates in marketing sensational homes and matching buyers with properties throughout Los Angeles' most private neighborhoods. "When Pat and I made the decision to look for an additional investment partner we knew we wanted to find a group that shares our same values," Gibson says. "We are a people-centric firm with a culture that provides great value to our real estate professionals. Pacific Union shares this same commitment to its team, and we're excited to build upon that shared value."
"In truly an unprecedented way, the residential real estate landscape in Los Angeles will change starting Jan. 5, 2018, when Gibson International, John Aaroe Group, and Partners Trust -- along with Empire Realty Associates in Northern California -- will rebrand to Pacific Union," Pacific Union CEO Mark A. McLaughlin says. "Our real estate professionals and their clients will benefit from the unified brands. We have a strong belief in Scott's exceptional leadership and team," McLaughlin continues. "His brokerage's strong position on the Westside of Los Angeles makes it an ideal partner for Pacific Unionas we realize our vision to become the ultimate California real estate company."
Shawn W. Anderson