Hunt Real Estate Corp., the largest real estate brokerage based in Buffalo, is pushing into New England in a major way by acquiring another of the largest agencies in the national ERA brokerage network.
Hunt, which itself is the No. 2 ERA affiliate, said Wednesday that it had agreed to acquire ERA Key Realty Services of Northbridge, Mass., which is also ranked among the top 10 ERA agencies in the country.
The deal significantly expands Hunt's reach by adding markets in Massachusetts — north and west of Boston — as well as in Connecticut, New Hampshire and Rhode Island.
“Joining forces with ERA Key Realty Services creates an opportunity to provide home buyers and sellers access to a wider range of options," said Charles F. Hunt, executive vice president and chief operating officer of Hunt.
Hunt already operates 40 offices across upstate New York, with a major presence in the Buffalo, Rochester, Syracuse and Albany markets, as well as in Phoenix.
The company was founded in 1911 and was ranked 41st nationally for closed transactions in 2016 by RISMedia. It operates both a residential and a commercial agency, as well as a mortgage banking firm, an insurance agency, a title agency, a relocation division, a residential building company and a fee-for-service brokerage.
“We have brought together two powerful real estate companies, with shared values, but with distinct regional footprints," said Hunt CEO Peter F. Hunt. "Our family-owned companies share a focus on providing a great culture for agents, and a compelling attention to quality and trust for our customers.”
ERA Key, owned by the Taylor family, has 14 offices throughout central and eastern Massachusetts, and is ranked among the 10 largest residential brokerages in that state, based on the number of homes sold.
"We are thrilled to be partnering with another major family-owned brokerage, and we are proud to share a long partnership as part of the ERA family,"said Bruce Taylor, founder of ERA Key Realty Services.
The combined company will now have more than 50 offices and nearly 1,600 real estate agents across six states. The offices will continue operating under the existing names, with local management intact.
“This is an exciting day for the ERA brand network. Two of our oldest and largest brokerages coming together speaks to the strength and longevity of the ERA culture,” said Sue Yannaccone, president and CEO of ERA Real Estate, which has 2,400 agencies in its worldwide network. “We are especially pleased to see the Hunt and Taylor families join forces.”