Real Living Classic, GMAC Real Estate announce merger

Real Living Network Services, a subsidiary of Real Living, Inc. (www.realliving.com), the real estate industry's first consumer lifestyle brand franchisor, and GMAC Real Estate (www.gmacrealestate.com) today announced they are merging to become one of America's leading residential real estate franchises with more than $20 billion in annual home sales.

Locally, Real Living HER (central Ohio market) and Real Living Realty Services (Dayton, Cincinnati, and Louisville) will continue to be independently owned and operated franchisees. Chris Derrow, who was executive vice president of Real Living, will become president of the holding company that has ownership interests in Real Living HER and Real Living Realty Services as well as Real Living Title, Real Living Mortgage, and Real Living HomeGard (warranty). Clyde Corle, president of Real Living Realty Services, and Pat Law will continue their leadership of Realty services. RLHER and RLRS will remain, as they are today, franchisees of the new Real Living real estate franchisors.

"I eagerly anticipate working with an expanded network of real estate professionals, enhanced technology platforms, and a thriving relocation program," said Derrow. "This merger for Real Living Network Services will further strengthen our award-winning franchises - providing new opportunities for our real estate agents and an enhanced consumer experience."

The move was set in motion late last year when Brookfield Residential Property Services (Brookfield RPS), a division of Brookfield Asset Management Inc. (Brookfield), acquired GMAC Real Estate. Earlier this month, Brookfield RPS acquired Real Living Network Services, a subsidiary of Real Living Inc., and as a result will now rebrand GMAC Real Estate as Real Living.

Columbus, Ohio-based Real Living is a national award-winning brand known for its innovation, customer service, and track record of attracting results-driven brokers and sales professionals, along with a culture of partnership and collaboration within its network.

"In Real Living, we found the ideal partner and brand for what we are hoping to accomplish with our real estate operations, which we are committed to building even further," said Graham Badun, Managing Partner & CEO of Brookfield Residential Property Services. "We explored a number of options, including creating an entirely new brand from the ground up, but our customer feedback and research kept leading us back to Real Living. Both companies share many of the same core values and combined will be part of a bigger, stronger network of brokers and sales professionals."

Badun added, "We are thrilled to have Real Living as our flagship U.S. real estate brand and welcome Real Living's 2,000 brokers and sales associates into Brookfield RPS' North American real estate network of almost 30,000 real estate professionals. We look forward to further expanding the size of our network by adding new franchisees that are truly looking for something fresh and different, and we are excited about the opportunity to take the brand to new markets internationally. Adopting and expanding an already established and respected brand will benefit the entire GMAC Real Estate network of brokers and sales professionals from day one," he said.

Badun also announced the appointment of Real Living's Harley E. Rouda, Jr., a longtime real estate industry broker, owner, operator, and franchisor, as President of the newly combined operations.

Real Living was founded in 2002 and the company has grown to become one of the nation's premier real estate companies and brands. Its technology platform has been recognized by Inman News as one of the best in the industry, the company has been named "Most Promising New National Brand" by the Swanepoel TRENDS Report, and Entrepeneur magazine listed Real Living as one of the top 50 new franchises.

"We brought a truly fresh approach to the industry earlier this decade when we launched Real Living as the first-ever consumer lifestyle real estate brand, and we will continue to do so by bringing new programs, services, support, training and technology to our brokers and sales professionals," Rouda, Jr. said.

"There is an incredible need for a broker and agent-centric brand that is consumer-focused, yet managed by an experienced team that understands real estate. Combined, Real Living and GMAC Real Estate have that team as well as a truly differentiated brand," he said.