PLAN TO MERGE TO CREATE THE THIRD LARGEST GROUP IN THE NATION
This would be one of the Largest Realtor® Association Mergers in History Creating the Third Largest Association in America
May, 11, 2017 – Two of the nation’s largest Realtor® associations announced today that they plan to merge to form the third largest local Realtor® association in the nation. The Greater Fort Lauderdale REALTORS® (GFLR) and Realtors® Association of the Palm Beaches (RAPB) would become the Realtors® of the Palm Beaches and Greater Fort Lauderdale, serving more than 30,000 real estate professionals.
This anticipated merger creates a rare opportunity for the Realtors® in Palm Beach, Broward, and St. Lucie Counties to have the best in class representing over 25,000 Association members and 30,000 MLS subscribers. The merged association’s multiple listing services will carry more than 40,000 On-Market listings, totaling over $21 billion in inventory and will create a single source for home buyers and greater exposure for seller properties throughout the Southeast coast of Florida.
The merger will produce an even more powerful effort at the local, state and national level when advocating for homeownership and private property rights. For brokers and agents, the merger creates a new, much larger territory for expansion and growth without the need for joining multiple MLSs. The merged association and combined MLS expects to create economies of scale and opportunities to invest in new, user-friendly technologies and increase services to members and consumers. The merged associations will synchronize their technologies and create seamless service for brokers and consumers. Members may choose between Matrix and FlexMLS for the MLS system of choice.
When the idea of a merger developed, Richard Barkett, the CEO of GFLR since 2001, threw his full support behind it and the benefits it will bring to South Florida Realtors®, stating:
“In today’s hyper-connected consumer world, Realtors® need every advantage possible. By combining our Associations, increasing our size, creating regional boards that understand the unique needs of localized markets, offering greater resources, investing in the newest technology– we are quite literally giving our members every advantage possible.” Last year, Mr. Barkett, announced his plans to retire. He plans to move forward with his retirement once the merger process is complete.
“Our reimagined association will bring localized service to our members while harnessing our strength and size to provide cutting edge technology and influential advocacy. The organization will place even more emphasis on integrating key technologies,” said Dionna Hall, current CEO of RAPB. Hall will be installed as the CEO of the merged Association and MLS.
“With the combined strengths of RAPB and GFLR, we will be able to help our members better leverage the tools we offer and ensure that we are helping them learn how to best serve the needs of their clients with our training, technologies and education about industry & consumer trends”, stated GFLR President Ron Lennen. Lennen will be the President Elect of the merged Realtors® of the Palm Beaches and Greater Fort Lauderdale.
Realtors® of the Palm Beaches and Greater Fort Lauderdale will maintain all six of the local service centers run by the two predecessor associations.
“The partnership will create significant opportunities for our members. First, expanding the geographic territory of our association, as well as the number of members, dramatically amplifies the amount of listing exposure and number of targeted leads they can generate. Second, we can save hundreds of dollars for our members that currently belong to both associations. Ideally, they can redeploy this money for marketing programs and other methods to grow their business”, said current RAPB President John Slivon who will be the President of the merged entity.
The merger is expected to be completed in 30 to 60 days.