RISMEDIA, April 28, 2010—Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. company, announced the merger of Affiliated Realty Group, independent real estate brokerage, with Prudential Utah Elite Real Estate. The transaction unites Utah County’s No. 1 and 2 brokerages based on volume, and doubles Prudential Utah Elite Real Estate’s market share.
The merged company operates four offices with nearly 250 sales professionals and staff members. Bruce Tucker, principal broker, said the transaction forms a “super company” from two market leaders. “Affiliated Realty Group was a true competitor of ours and we admired the company for the way it conducted business and served customers,” he said. “Our merger creates an elite company with highly experienced leadership and many of Utah’s most skilled sales professionals.”
Tucker will lead Prudential Utah Elite Real Estate’s management team as CEO. His ownership team will include Steve Cuillard, Brent DeMille, Dean Ingram and Steve Maddox.
“We are excited to join forces with Prudential Utah Elite Real Estate,” said Cuillard, principal broker of Affiliated Realty Group. “We now have access to the Prudential Real Estate Network’s suite of online resources and proprietary lead-generation tools. Of course, we gain the Prudential brand itself, a name known everywhere for strength, integrity and innovation.”
Tucker said the union brings to the company additional expertise and broadened services for customers. “Beyond traditional residential real estate, our new partners bring significant new-construction and REO expertise,” he said. “We now offer consumers a complete lineup of real estate services backed by the finest support and consultation for which our company is known.”
Earl Lee, president of Prudential Real Estate and Relocation Services, added: “Two fine organizations unite and Utah’s real estate consumers will benefit,” he said. “The companies share similar values based on excellence, integrity, innovation and customer care. We are thrilled to broaden our brand in this key market through this merger.”
Tucker said his immediate goals include increasing market share and attracting more top real estate talent. “We see significant opportunity in our market and want to expand when others may be pulling back,” he explained. “As always, we’re looking for leading real estate professionals who want to build their careers with a solid, growth-oriented company.”
For more information, visit www.prudential.com.
