Press Release! Prudential Sells Relocation and Real Estate Division

Press Release! Prudential Sells Relocation and Real Estate Division

On December the 6th, 2011, Prudential Real Estate and Relocation Services (PRERS) was purchased by Brookfield Residential Property Services-a Canadian based company. The addition of PRERS to Brookfield establishes Brookfield as the second largest employee relocation services provider and the third largest residential real estate franchising business in the world.

According to the president of Prudential: “Today, Prudential’s real estate and relocation services businesses join a global company with a track record of over 100 years of success,” said Earl Lee, President of Prudential Real Estate and Relocation Services. “We’re excited to become part of a company that is focused on and deeply immersed in the real estate sector and is in the business for the long‐term.”

Brookfield Global Relocation Services helps nearly 85,000 US families move in and out of over 125 countries around the world every year. Brookfield has more than one‐third of Fortune 100 companies as its clients. Brookfield is now the largest provider of relocation services to government in both the US and Canada.

What does this mean for those of us who work for a Prudential franchise? So far not too much. We have been told it will be business as usual. The franchise names will allowed for the remainder of the agreed upon contracts. I hope this acquisition has a positive affect on the business.

Prudential Select Properties was not sold, we are still locally owned and operated with the same owners, President, managers, and staff. Brookfield has the license to use the name Prudential through 2019 and we will remain Prudential Real Estate. The leadership of the Prudential Real Estate Company is not changing they are all staying with the Prudential Company.

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All rights reserved and may not be reproduced or reprinted without express written permission of Ann Hayden, real estate agent with Prudential Select Properties Chesterfield, Ballwin, Wildwood Office. Information deemed reliable but not guaranteed