Two Los Banos real estate brokerages have been bought out by a Bay Area company.
San Ramon-based Prudential California Realty Pearson Properties announced Tuesday that it purchased Prudential California Realty, formerly owned by Charlene Sloan, and Re/Max Central Valley Realty, which was led by Tammie Miller.
Gretchen Pearson, president of Prudential California Realty Pearson Properties, said she plans to increase service in Merced County and be part of what she believes will be a comeback for the housing market.
"The Merced County real estate market has had a lot of hard knocks and, as a result, has created a very loose service environment. We plan to go into the market and give full service to all clients, not just some," Pearson said. "Another reason we liked this market was that we are bullish on a comeback, as are many corporations, evident in the increase in commercial real estate development happening now. The other positive trends we see are in the investor market, which is very active, and that the area is becoming more and more a commute path for people working in the South Bay."
The addition of the two brokerages brings the total number of offices in the company's Northern California network to 20. The merger marks the 13th acquisition Prudential California Realty has made in two years.
The Prudential California Realty office was owned and operated by Sloan for nearly 30 years. She will continue as a real estate agent for the company.
"We're pleased to be keeping the strong Prudential California Realty brand and are happy it is under the guidance of Gretchen Pearson, whom I've known personally for years as a strong leader and innovator in the industry," Sloan said.
As owner of Re/Max Central Valley Realty, Miller worked with her team to close nearly 100 transactions in 2011.
"Merging with Prudential California Realty offers my team and our agents an opportunity to provide an increased level of professionalism utilizing the company's tools to market our listings, and expands our access to services and training that were previously unavailable to us," Miller said.
The acquisition allows Prudential California Realty to have more than 20 agents serving Merced County.