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MERGER MAKES REALTY EXECUTIVES SANTA CLARITA VALLEY'S LARGEST BROKER

MERGER MAKES REALTY EXECUTIVES SANTA CLARITA VALLEY'S LARGEST BROKER
 NEWHALL, Calif., Jan. 31 /PRNewswire/ -- Richard Grommon and Jim Tanner, owners of Realty Executives-Santa Clarita Valley, today announced their merger with two former Century 21 real estate offices in the Newhall area to create the Santa Clarita Valley's largest real estate operation. Financial aspects of the merger were not disclosed.
 The company will operate as a Realty Executives franchised firm, with its main office in Valencia, Calif., and branches in Canyon Country, Calif. The firm's 120 licensed agents last year listed $375 million and sold $280 million of residential and commercial real estate throughout the Santa Clarita Valley, making it the area's largest brokerage organization.
 Realty Executives was named by Inc. magazine as one of the 500 fastest growing private U.S. firms in each of the last two years. It operates throughout the United States and Canada. California offices currently employ 700 agents.
 Grommon, president of Realty Executives-Pacific Group Inc., stated, "The Santa Clarita Valley is home base for Realty Executives in California, so we are particularly pleased to have achieved the No. 1 market position here at home. We look forward to continued expansion here and throughout California."
 Realty Executives was the nation's first real estate firm to professionalize the relationship between agent and broker. The managing broker reviews an agent's transactions and provides office support services for a monthly professional fee paid by the agent. The broker does not share in the commissions earned by the agent. Founded in 1965, the firm has been credited with attracting highly-educated professionals into real estate careers. The firm's controversial move into professional office locations and away from retail storefronts, and its early use of computers for property searches and marketing established trends in the U.S. realty industry.
 -0- 1/31/92
 /CONTACT: Richard Grommon of Realty Executives, 805-286-8600, ext. 620/ CO: Realty Executives ST: California IN: FIN SU: TNM


KJ-CH -- LA022 -- 5758 01/31/92 16:09 EST
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Publication:PR Newswire
Date:Jan 31, 1992
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