ERA Real Estate Announces Merger of Two Alabama Firms

ERA Real Estate Announces Merger of Two Alabama Firms

ERA King Real Estate and ERA Oxford Realty Combine to Strengthen the ERA Brand Network's Presence in Alabama

July 28, 2010 // // PARSIPPANY, N.J. and ANNISTON, Ala., -- ERA Franchise Systems LLC, a global franchising leader in the residential real estate industry, announced today a merger between two of its existing member firms in Alabama. Specifically, ERA King Real Estate Company, Inc. in Anniston, Ala., is growing its coverage area through the addition of ERA Oxford Realty Company, which serves the greater Birmingham market.

"The merger of these two firms creates a stronger overall company that will now rank as one of the Top 10 companies in our ERA Franchise system," said Charlie Young, president and chief executive officer of ERA Franchise Systems LLC. "It's a positive step forward in our strategy of helping strengthen our member brokerages in order to ultimately grow the ERA Real Estate network."

For the near future, each firm will continue to do business under their current names. The combined operations of five offices and 130 agents will be managed by Everett King, president/owner of ERA King Real Estate.

"Instead of waiting for change to come to us, we are making change happen by creating a company that is moving forward," said King. "Best of all, the real estate consumers in our respective markets will benefit from the combination of resources that we can now offer through our merger with ERA Oxford."

Jack King Realty was founded by Jack King in 1969. Everett King, Jack's son, took over the business in 1990 and joined the ERA network in 1994 as ERA King Real Estate Company. Headquartered in Anniston Ala., ERA King Real Estate also maintains offices in Gadsden and Lincoln, Ala. ERA King Real Estate is a full service firm with operational and support staff including relocation, marketing, property management, and agent support services. King's firm has been ranked among the Top 50 ERA companies in three of the past four years. Among the firm's achievements, it received the Gene Francis Memorial Award as Top All-Around Company in 2007, which is ERA Real Estate's highest honor. In 2009, Anna King was awarded Top All-Around Selling Broker, the highest honor that an ERA professional can receive.

Affiliated with ERA Franchise Systems since 2003, ERA Oxford Realty has two offices located in the Birmingham and Vestavia Hill, Ala. and has nearly 80 agents. The company is among Birmingham's top-producing real estate companies and also has been a top 50 ERA company.

"ERA Oxford Realty has been in business for over 30 years, and we are proud of our history and growth," said Jeff Newman, broker/owner. "We look forward to the additional prospects this merger will bring as we continue to provide outstanding service to our clients in the Birmingham area."

About ERA Franchise Systems LLC

ERA Franchise Systems LLC is a global franchising leader in the residential real estate industry with more than 35 years experience in developing consumer-oriented products and services. Since 1977, ERA Real Estate has teamed with the Muscular Dystrophy Association in its fight against neuromuscular diseases, raising more than $30 million. The ERA® network includes approximately 30,000 brokers and sales associates and approximately 2,600 offices throughout the United States and 45 other countries and territories. Each office is independently owned and operated. ERA Franchise Systems LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services.



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