Prudential sells real estate business

According to REALTOR® Magazine, Prudential is getting out of the real estate business, selling off its real estate brokerage and relocation services business to Brookfield Residential Property Services this week.

However, some Prudential real estate brokerage franchisees will be able to continue to use the Prudential brand, depending on the terms of their franchise agreements.

Brookfield residential real estate franchises will now operate in 50 U.S. states, 10 Canadian provinces, Mexico, and Portugal, along with plans to expand into Brazil, China, and India. It boasts a network of about 80,000 real estate agents and 2,800 real estate brokerage locations, according to the company.

“This transaction creates a global employee relocation services and real estate franchising leader,” Graham Badun, CEO of Toronto-based Brookfield Residential Property Services, said in a statement. “We have now increased the breadth and depth of our service offering, keeping pace with the evolving needs of our clients around the world.”

The terms of the sale were not released.

As others chose to leave the market, North Eastern Group  Realty is increasing it’s commitment to serving the needs of the Fort Wayne real estate market. North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.

At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale visit our website at NorthEasternGroup.com.