John Aaroe Group of Los Angeles has entered into a merger agreement with Pacific Union. The combination of the two firms will bring them in line with both Alain Pinel Realtors and RealtyONEGroup, two other California based firms in the National top 10 with sales in the $12 Billion range. John Aaroe Group will retain all of its branding and management. John Aaroe Group is one of the leading independent firms on the west side of Los Angeles with more then 400 agents across 9 offices in the communities of Pasadena, Downtown LA, Toluca Lake, Studio City, Sherman Oaks, Baldwin Hills, Sunset Strip, Brentwood, and the fabulous Rodeo Drive office in Beverly Hills. The firm does just under $2.5 Billion in transactions and currently has just under 200 listings ranging from a low of $840,000 to a high of $135 Million. Here is an overview of the combined entity. This is the second deal of this size completed by Pacific Union CEO Mark McLaughlin. No one is really sure what inspired McLaughlin in 2009 when he was operating his boutique Morgan Lane office. But inspired he was. That was the year that he purchased Pacific Union from Brookfield which was the same size as the John Aaroe Group. At the time, Pacific Union was doing about $2.2 Billion in transactions with 430 agents across 17 offices. Since that time, Pacific Union has grown to one of the 10 largest real estate firms in America with sales under $9 Billion. Pacific Union was grown by developing brokerage operation excellence, hard work and the development of great agents. The expectation is that similar growth projection are available for John Aaroe Group. The similarity of the transaction size is uncanny. The two firms have the same DNA, they are independent, strong brands, great agents, full service, offering luxury real estate services to the middle and upper price points of the market. Both firms work smart, agile, and 100% focused on the culture within their company. To be sure, a real estate agent has arrived in real estate when they are invited to join Pacific Union or John Aaroe group. Neither firm wants very many agents, but both seek to attract the industry’s best professionals and to support each one at cultivating a strong, successful book of business. Pacific Union has seen some remarkable growth through many of their technology innovations that John Aaroe […]
It is pretty well known that Google is now Alphabet – a re-imagined company that is comprised of a variety of businesses around the focus of organizing the world’s information to make it universally accessible and useful. Building a new brand on top of Google was an uncomfortable decision, but there is much to be learned from it. The Alphabet Companies (full list here) Google – Search Engine, Android, Gmail, and YouTube Calico – Healthcare company aimed at extending life Verily – Smart contact lenses X Labs – Research and Development Deep Mind – Artificial Intelligence Access – high-speed internet Jigsaw – think tank/tech incubator The company really did not change its structure, but the company did restate its structure differently and explained it. The uncomfortable re-imagination worked on Wall Street – as the company overtook Apple as the worlds most valuable company (albeit temporarily as today Google is worth $598.73 billion and Apple is worth $651.5 billion – what’s a $50B swing one way or another?) Real Estate could learn quite a bit from this. At the heart of Google is the vision to never become complacent. Great companies operate uncomfortably. Great companies take moon shots. Examples in Real Estate Brokerage – Pacific Union: Dissatisfied with listing presentation software, they built the Pacific Union DLP – Digital Listing Presentation. It is not only mobile enabled and beautiful, it is elegant and clearly born from the culture of a great brand. It was time consuming to develop. It cost five-times as much as anything they could have licensed. It could have been a disaster. It was an uncomfortable risk. It resulted contributing to one of the most remarkable growth spurts of any brokerage operating at enterprise scale – adding 20%+ growth year after year and becoming the 9th largest brokerage firm in America in the face of very strong competition. MLS – MRIS: For years, MRIS was atop the leaderboard as the largest MLS in the nation. They are among the only MLSs in the nation that do quarterly benchmarking for every department measured against user satisfaction. They measure their satisfaction goal on every calendar for departmental excellence. Internally, they hit on all cylinders. To become uncomfortable, they are working with TREND MLS to make the service offering even bigger, even better. This is not their first effort either. They also manage many of the nation’s largest MLS data sharing cooperatives. […]
In an email dated January 25, 2016, Pacific Union CEO Mark McLaughlin writes: “In a bold move within the residential real estate industry, Pacific Union names Selma Hepp to the newly created position of ‘Vice President, Business Intelligence’. Selma joins Pacific Union from her position as Chief Economist for Trulia. Prior to Trulia, Hepp was Senior Economist for the California Association of Realtors and Economist for the National Association of Realtors, both trade organizations dedicated to the advancement of professionalism in real estate. Selma’s Ph.D. in Urban Economics, complemented by her deep expertise in understanding market dynamics in the western U.S. will give our team of professionals’ insightful intelligence to help your clients make key decisions regarding how and where they will live. Selma will further monitor and write commentaries on housing markets, urban economics, international housing markets, and demographic trends. She earned her Master’s degree from SUNY at Buffalo and a Ph.D. from the University of Maryland. In 2016, Pacific Union will make significant investments in business intelligence and technology advancements. These investments are designed to gain thorough understanding from a quantitative perspective; client demographics and empirical market dynamics on a hyperlocal basis. Our investments will give Pacific Union Real Estate Professionals definitive buyer profiles and specific marketing tactics to access key buyer segments. We intend to raise the bar in the real estate industry for interactive technology – complete with market data. You and your clients demand and deserve real-time data delivered in an easily consumable and interactive manner. Selma is thrilled to join our team and offered this perspective. “Pacific Union’s vision and forward thinking uniquely positions this firm to become the leader in understanding California’s challenging housing market. The market is at a critical juncture that requires a close watch to anticipate its dynamic nature.” Congratulations to Selma and Pacific Union from all of us here at WAV Group! Best wishes for a very successful 2016!
WAV Group is leading an effort to help Pacific Union International (PUI) find a Vice President, Business & Digital Intelligence (VPBDI). The person in this position will lead PUI’s work in market dynamics based analytics, business and digital intelligence and client demographics. This strategic role will be responsible for business and digital intelligence programs and models to drive market share, client retention and decision support for our regional executives, real estate professionals and related business units throughout the San Francisco Bay Area. This key role will lead the industry and our company as the “go to” authority for new technical and digital initiatives around data mining, client demographics and analytics. Pacific Union International boasts one of the strongest brands in the real estate industry today. The company is a leader in the residential real estate industry as well as a formidable competitor in the San Francisco Bay Area. Commanding nearly twelve percent (12%) market share in the nine Bay Area counties, PUI has grown from $2.2 billion in sales volume in 2009 to nearly $7.5 billion in 2015. PUI’s relentless pursuit of Vision 2020 will drive strategic initiatives to further grow the business by increasing market share in the Bay Area and growing our geographic footprint throughout the Western USA. If you have demonstrated abilities to lead organizations by providing rich insights and new approaches to residential real estate and thrive in a fast-paced, team-oriented, technology-intensive environment, then this is a position for you. Responsibilities include rapidly building and overseeing business intelligence, internal and external communications and a willingness to be or become an industry spokesperson. Success will be dependent on collaborative and productive relationships with our Regional Executives, marketing, public relations, finance and technology leaders. To learn more about the position and Pacific Union, contact Marilyn@wavgroup.com or firstname.lastname@example.org.
Pacific Union is a company of proud heritage in the San Francisco bay area. They are among the premiere brokerages spanning from Napa, through San Francisco, around the East Bay, and down into Silicon Valley. They have about 600 sales associates and approach $7B in sales. Today, they made an announcement that they have entered into a definitive agreement to acquire The Mark Company. The Mark Company focuses on marketing and sales for new housing developments. The combined company expects to represent over 22,000 units and $12B in sales. WAV Group wishes to congratulate both of these extraordinary companies on their transaction and wish them increadible success as they grow together. Here are some of The Mark Company projects 300 Ivy – San Francisco http://300ivy.com/ Spire – Denver http://www.spiredenver.com/ Evo – Los Angeles The Martin – Las Vegas http://www.themartin.com/landing/ 181 Fremont – San Francisco – http://181fremont.com/offices/gallery/