Windermere Merges with Prudential Americana Group
It appears, Windermere Summerlin has merged with Purdential Americana Group recently. I believe this is going to be a trend over the next year as many struggling Las Vegas real estate companies try to keep their heads above water. Larger companies like Prudential Americana Group will continue to grow their market share by merging with smaller and struggling real estate brokerages in and around the Las Vegas Valley. Unfortunately, I don’t think this is good for the Las Vegas Real Estate Market as it could have a negative effect for Las Vegas Real Estate Agents.
With larger real estate brokerages merging with smaller and struggling real estate brokerages, it could decrease competition, potentially increasing desk fees and costs for Las Vegas Real Estate Agents. Just recently, Liberty Realty was acquired by Century 21 Aadvantage Gold another large real estate brokerage. Many of these large brokerages not only charge desk fees but they also require a franchise fee on every transaction that closes. The Liberty real estate agents that chose to stay with Century 21 Aadvantage Gold were most likely losing 6%, a fee I was paying only a few years ago when I hung my license with them, on every transaction they closed due to the Century 21 Franchise Fee. In my opinion, the 6% franchise fee is not worth it just to hang your license with a Century 21 Franchise.
It’s obvious good business for real estate brokerages to buy up their competition but it’s not necessarily great for the real estate agents. With the struggling economy, Las Vegas Real Estate Agents need to increase their business and reduce their operating expenses. Let’s just hope companies like Prudential Americana Group don’t increase the cost of doing business for Las Vegas Real Estate Agents.
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