Keller Williams on the hunt for mergers in down market

June 26th, 2009

South Florida’s real estate market is one of the hardest hit regions in the country, but bad times for brokerages also mean opportunities for consolidation as smaller, weakened players falter and seek deep-pocketed backing.

Keller Williams Pembroke Pines has added dozens of agents this year, including the just-completed acquisition of Lyon Company Realtors. In total, the Pembroke Pines office has 162 agents and saw $31,000 in May profits — its most profitable month ever — despite the local market challenges.

“We’re in talks with a few groups right now about mergers,” said Natascha Tello, broker and operating principal at the Pembroke Pines office. “It’s always about finding a win-win. With Mark Lyon, his core group was a match. Our two companies’ cultures are basically identical, placing God, family, and business at the forefront of our lives.”

Click here to read the rest of my story on The Real deal.

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