With California housing markets having decidedly shifted since the summer, the looming question is what comes next. Since 2014, Pacific Union has partnered with John Burns Real Estate Consulting to forecast the market for the upcoming three years. At our November 2017 forecast, we suggested that...
A dominant player has emerged on the West Coast real estate scene with the merger of LA-based John Aaroe Group and the Bay Area’s Pacific Union International. It marks the joining of Northern California’s premier luxury real estate brokerage and our leading Los Angeles-based firm, enabling us to share each other’s most valuable resources, connections and expertise across our combined markets.
Our company now ranks in the top ten among the nation’s leading firms with annual sales of $10.5 billion based on combined 2015 production.* We have 1,100 real estate professionals in 38 offices. Our new Northern California markets, led by CEO Mark McLaughlin, include San Francisco, Silicon Valley and Wine Country.
Here’s what John Aaroe had to say about the merger.
Why did John Aaroe Group make this move?
Creating this dominant California-based regional company gives us the perfect combination of large-company resources and locally-focused management and strategy. Pacific Union’s exclusive real estate technology tools, fueled by Silicon Valley innovation, are unsurpassed in the industry. We will tap into the firm’s proprietary economic forecasting models, along with the analysis of our new in-house Chief Economist, Selma Hepp.
These constantly evolving and growing resources dramatically enhance our agents’ ability to get rewarding results for clients. The move also vastly expands our connections with relocating Northern California buyers looking for homes in our desirable LA markets.
Will your name change?
No. The John Aaroe Group brand has invaluable equity in the LA market, as Pacific Union’s does in theirs.
Will decisions on LA issues still be made here?
Yes. As Founder and President of John Aaroe Group, I’ll continue to make timely decisions at the local level to benefit our agents and clients.
What are your plans going forward?
In the coming year, our initiatives will include the launch of a Property Management Division; collaboration with the Pacific Union firm The Mark Company, one of the nation’s premier urban residential marketing and sales firms; and active alignment with the company’s China Concierge program in Beijing.
Going forward, we’ll also be looking at opportunities to expand into Southern California markets that interest our clients.
*REAL Trends 500 by Volume
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All of us at Pacific Union and Compass would like to extend our sincere condolences to everyone affected by the Camp Fire in Northern California and the Woolsey Fire in Southern California. As these powerful wildfires continue to burn throughout our state, we have received reports that at least...