GMAC Real Estate

GMAC Real Estate was a real estate franchised broker. It had 13,000 agents.[1] In 2008, it was acquired by Brookfield Asset Management and in 2012, it merged into HomeServices of America.

GMAC Real Estate
IndustryReal estate
FateAcquired by Brookfield Asset Management
SuccessorReal Living
Founded1998 (1998)

History

GMAC Real Estate was founded in 1998, when GMAC (now Ally Financial) bought the Better Homes and Gardens Real Estate brand from Meredith Corporation.[2]

In 2001, John Bearden was named president and CEO of GMAC Home Services, the parent company of GMAC Real Estate.[3]

In 2002, the company ranked 6th in transaction volume among U.S. real estate companies.[4]

In 2006, the company awarded franchises in the St. Louis area[5] and in the Denver area.[6]

In 2008, GMAC Home Services LLC was acquired by Brookfield Asset Management.[7]

In 2009, Brookfield merged the company into its Real Living division.[8]

In 2012, HomeServices of America, an affiliate of Berkshire Hathaway, acquired Real Living.[9]

References
  1. "Real Living joins GMAC realty unit in merger". The Columbus Dispatch. November 11, 2009.
  2. "GMAC buys 'BH&G' real estate". Advertising Age. June 30, 1998.
  3. "John Bearden to lead GMAC Home Services". American City Business Journals. October 2, 2001.
  4. "Top 100 Ranked By Sales Volume". National Association of Realtors. July 1, 2002.
  5. "GMAC Real Estate Awards Newest Franchise to St. Louis Area Real Estate Veterans" (Press release). Business Wire. September 28, 2006.
  6. "GMAC Real Estate issues Cherry Creek franchise". American City Business Journals. January 11, 2006.
  7. Witkowski, Wallace (September 23, 2008). "Brookfield Residential to acquire GMAC Home Services". MarketWatch.
  8. "GMAC Real Estate to be renamed". Chicago Tribune. November 12, 2009.
  9. Funk, Josh (October 30, 2012). "Buffett's firm buys Prudential real estate network". San Diego Union Tribune. Associated Press.
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