VEGAS INC archives
Prudential Americana Group announced today it has acquired one of its largest competitors in the market, elevating it to the No. 1 brokerage in Las Vegas.
The acquisition of Century 21 MoneyWorld by Prudential Americana moves it ahead of Realty One Group as the largest brokerage in Las Vegas in terms of sales volume.
Between July 2010 and June 2010, Realty One Group had 8,876 sales with a sales volume of $1.31 billion, or 11.1 percent of the market. Prudential Americana had 7,006 sales and $1.14 billion in sales volume for a 9.7 percent market share.
But the addition of Century 21 MoneyWorld, the No. 5 brokerage in the market in that period, had 1,748 sales with a sales volume of $238.7 million, or 2 percent. Prudential takes over the 150 real estate executives that were part of MoneyWorld. Prudential has 1,150 agents.
Prudential Americana has bounced back strongly since it entered Chapter 11 bankruptcy protection in November 2007 and exited in 2008.
Prudential Americana also owns Prudential Arizona Properties, the largest Prudential franchise in Arizona. The company houses nearly 1,900 real estate professionals in 15 offices between the two states.
“This was a great opportunity to work with a company that has built a stellar reputation in the 27 years it has been in business in Las Vegas,” said Prudential American Chief Executive Officer Mark Stark. “Century 21 MoneyWorld has consistently been ranked in Century 21’s Top Ten in the nation.”
Mike West, managing broker of Century 21 MoneyWorld, will continue working with Prudential Americana Group in management and business development roles.
“I have been fortunate to develop a great team of professionals over the years,” West said. “I’m looking forward to working with Prudential Americana Group on new ventures and building new relationships with their organization.”
Prudential Americana Group and Century 21 MoneyWorld are long-time staples in the Southern Nevada real estate industry. Stark has been with Prudential Americana Group since 1985 and Century 21 MoneyWorld was founded the same year. Stark said the acquisition is an extension of his efforts to build the Prudential brand despite market fluctuations.
Earl Lee, president of Prudential Real Estate and Relocation Services, participated in today’s announcement to Century 21 MoneyWorld employees.
“A strong, Prudential Americana Group team just became stronger with the addition of top professionals from Century 21 MoneyWorld,” Lee said. “The transaction enables Prudential Americana Group to extend its reach and influence and Las Vegas real estate consumers will benefit.”