Archive for Friday, November 30, 2007
Real estate agencies to merge
McGrew, Lawrence Realty agreement takes effect Saturday
November 30, 2007
Advertisement
McGrew Real Estate is growing through a merger with Lawrence Realty Associates. Leaders of the agency will be, from left, Gary Nuzum, Mike McGrew, Dennis Snodgrass, Pat Flavin and John Bush.
The city's largest real estate agency is gaining a partner just as it drops its national franchise affiliation.
Coldwell Banker McGrew Real Estate - already set to end its 10-year relationship with Coldwell Banker, effective Saturday - is merging with Lawrence Realty Associates.
The merger, which also takes effect Saturday, will give the combined McGrew Real Estate a total of 95 agents and about 17 support staffers, plus another office in Lawrence: the Lawrence Realty headquarters at 4321 W. Sixth St., which will be added to the existing McGrew locations at 1501 Kasold Drive and 4100 W. Sixth St.; McGrew also has an office at 1402 Church St. in Eudora.
Judging by last year's sales numbers, the combined agency accounts for about 43 percent of the market share in Lawrence, officials said.
Lawrence Realty's leaders, Pat Flavin and John Bush, also will become vice presidents and members of the McGrew management team, joining McGrew leaders Mike McGrew, chairman and chief executive officer; Gary Nuzum, president; and Dennis Snodgrass, vice president and sales manager.
"We've admired the way they do business for some time," McGrew said. "They've been great, innovative competitors, and we're excited to be able to bring some of their processes into our larger company."
Pat Flavin, Lawrence Realty's president and managing broker, said that the merger would build on the combined strengths of the agencies.
"All business models are changing," he said. "We have to stay relevant. We have to do things that people feel good about. : You can't just do what you've always done."
Lawrence Realty formed in 2000, when Flavin, Bush and agents split from CEK Insurance. CEK Real Estate had traced its roots to 1931.
Buyers and sellers won't notice many immediate changes, other than new signs going up outside listings beginning Saturday, officials said. The buyers and sellers have been signing new agreements with agents to reflect the combined company.
Stephens Real Estate - the community's second-largest agency with 50 agents, seven support staffers and offices in Lawrence and Baldwin City - doesn't plan on making any changes to respond to McGrew's move back into independence or agreement to merge with Lawrence Realty, said Mark Buhler, broker and manager for Stephens.
But McGrew obviously has decided to spend money to grow during lean market times, Buhler said.
"Like all things in business, nothing's an easy deal," Buhler said. "They're taking some risk. They feel that's the way they need to go in this marketplace. We'll know more in a year, actually."
More like this
- 6News video: Lawrence's largest real estate agency is getting bigger November 30, 2007
- MCGREW UNITES WITH COLDWELL BANKER November 21, 1997
- Coldwell Banker McGrew Real Estate is merging with Lawrence Realty Associates. November 30, 2007
- McGrew agency to stand alone 7 comments / November 23, 2007
- McGrew names leader as broker becomes VP 1 comment / March 7, 2008
Top ads RSS
- Grant Monitor Higuchi Biosciences Center, KU Duties include coordination of ...
- NOW HIRING ALL POSITIONS Come by the store and fill ...
- 5 Assistants Needed Help schedule + set appointments for our ...
- Now Hiring at our Kansas City Speedway location! Tired of ...
- Factory Outlet $1800/Mo. Starting Pay Its the holidays and we ...
- City hopes to get grant money to make safer path between KU campus and downtown November 9, 2009 · 19 comments
- Thanks to Moore November 10, 2009 · 13 comments
- Blog: Dillons, Hyvee, And Checkers — I'Ve Shopped And Compared. See The Results. November 8, 2009 · 191 comments
- Blog: Song Titles And Lyrics: Nonsensical Non Word Songs! November 9, 2009 · 98 comments
- On the street: Did you watch 'Sesame Street' when you were a child? November 10, 2009 · 9 comments
- 'White Owl' held in jail in connection with protective order case November 9, 2009 · 57 comments
- Crumbling of Berlin Wall still worth celebrating November 8, 2009 · 56 comments
- Poll: Have you read Truman Capote’s book, “In Cold Blood”? November 9, 2009 · 3 comments
- Killing daughter can’t be matter of honor November 8, 2009 · 61 comments
- On the street: How do you like your peanut butter sandwiches? November 9, 2009 · 65 comments
- 'White Owl' held in jail in connection with protective order case November 9, 2009
- Five downtown Lawrence businesses report burglaries over the weekend November 9, 2009
- 50th anniversary of slayings memorialized by 'In Cold Blood' approaches November 9, 2009
- KU grad student who accidentally ingested chemical is released from LMH November 9, 2009
- Season's greetings: Photographer’s book explores Kansas nature November 10, 2009
- Reed re-injures right ankle but still might play against Pitt State Tuesday November 9, 2009
- Topeka man in serious condition after accident west of Baldwin City November 9, 2009
- Marine Corps to celebrate 234th birthday at Dole Institute November 9, 2009
- Algae’s energy potential blooms November 9, 2009
- That’s better November 9, 2009
Post a comment
Requires free LJWorld.com registration. Register or log in below.
Read our full policy. Also, read about banned accounts and harassing comments.
Post a blog entry
You have to be logged in to blog on LJWorld.com. Please log in or sign up.
Learn more about blogging on LJWorld.com.