From a plugged-in tipster, Pacific Union Real Estate is being acquired by the principals of Morgan Lane Marin. The sale is expected to close in August and the Pacific Union brand will remain, but Mark McLaughlin of Morgan Lane will replace Avram Goldman as CEO.
With respect to the “Are any offices going to close?” question: “We are currently evaluating all options.”
more info here: http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090720006039&newsLang=en
What would Bill and Peter think!!
Frederick Allardyce
Nice to meet you finally.
Awesome ! Consolidation in the San Francisco Real Estate scene was long overdue…
There are too many incompetent and lazy Realtors who were simply sitting and counting their comissions because of the buyer frenzy here since 2003…
All these people need to be “weeded” out. Darwin’s theory as applied to San Francisco’s Realtors 🙂
Haven’t most of the top producing agents left PU? The office in the Presidio was a terrible move for business. But congrats to the owners for cashing out before all the top agents left….
Have to agree with Chad again.
What I think would be really useful would be an ongoing, Case-Shiller style index of currently operating Real Estate agents and mortgage brokers in the SF MSA. When that number bottoms, it’d be an almost more useful indicator of when the bubble was fully deflated than median housing prices or sales volume levels, because it would tell you when all the bottom feeders, hangers-on and carpetbaggers have been swept out of the marketplace.
From an econometrics perspective, this would probably be harder than it sounds, because although one could count the number of licensed agents, available via the California Department of Real Estate, a lot of agents who are currently licensed are probably not making commissions right now.
The owner was GM. Wonder how much Morgan Lane paid for PU. It’s a good fit, especially since PU’s Marin office defected, en masse, to Alain Pinel earlier this year.
If anyone can find out how much Morgan Lane paid for Pac Union please let us know, I’m so curious. I honestly didnt think Morgan Lane was even big enough to purchase a name like Pacific Union
Morgan Lane was basically given. Brookfield still controls.
Pacific Union will remain the same. Brookfield is a silent partner.