MADISON, N.J. - March 10, 2014 // PRNewswire // - ERA Real Estate, a global franchising leader, today announced that LBH National Corp., owned by Roger Herman, has acquired Shorewood Realtors, a market leader in Los Angeles County's South Bay region. The firm will continue to serve Manhattan Beach, Hermosa Beach Palos Verdes, El Segundo and Redondo Beach. Herman is also the owner of ERA Herman Group Real Estate, which operates in Boulder, Colorado Springs and Denver, Colo.; Miami, Fort Lauderdale and Palm Beach, Fla.; and Las Vegas.
With nine offices and 250 agents, Shorewood Realtors accounted for $1.7 billion in sales volume in 2013. The company was ranked among the top 100 companies nationwide in the 2013 REAL Trends 500 report, which was based on 2012 sales data.
"The affiliation of Shorewood Realtors as an ERA Powered company significantly expands ERA Real Estate's presence in the Los Angeles market and the prestigious South Bay region," said Charlie Young, president and CEO of ERA Real Estate. "Roger Herman's commitment to growth aligns perfectly with our brand's vision for the future as we provide strong corporate support for brokers to build their business through unique business solutions such as the ERA Powered® program, which provides prominent regional firms that have leading market share with access to the resources of a global brand while retaining their strong local identity."
"As an ERA Powered® company, we will continue to leverage our own strong local name recognition and brand cachet while tapping into the tools, technology and expanded broker community of the global ERA brand to drive growth and expansion," said Herman, who will serve as CEO while Shorewood founder Arnold Goldstein has been named chairman emeritus. "Understanding that real estate is local, ERA Real Estate's unique broker-first approach allows brokers the flexibility and support to build their business in a way best suited for their individual market."
This acquisition is the largest ever for an ERA Real Estate affiliated broker and was facilitated by the ERA Real Estate franchise sales team, which identified the transaction as an opportunity that would benefit both firms. With the addition of the South Bay firm, Herman has tripled the size of his real estate brokerage-related operations, which include presence in Colorado, Florida and Las Vegas.
Herman's proven ability to expertly manage brokerage operations in multiple markets has helped fuel growth for ERA Real Estate and its affiliated broker community by building strong relocation corridors and creating a robust pipeline of referrals.
ERA Real Estate is an innovative franchising leader in the residential real estate industry with 40 years of experience in developing consumer-oriented products and services. The ERA network includes approximately 31,000 brokers and sales associates and approximately 2,300 offices throughout the United States and 33 countries and territories. Each office is independently owned and operated. ERA Real Estate is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.
SOURCE ERA Real Estate