Press Room

REAL LIVING, THE NATION'S FIRST CONSUMER LIFESTYLE REAL ESTATE BRAND, IS ABOUT TO GET BIGGER - MUCH BIGGER

Oak Brook, Ill. and Columbus, Ohio (November 11, 2009) – Real Living (http://www.realliving.com), the real estate industry’s first consumer lifestyle brand, and GMAC Real Estate (http://www.gmacrealestate.com) today announced they are merging to become one of America’s leading residential real estate franchises with more than $20 billion in annual home sales.

The move was set in motion late last year when Brookfield Residential Property Services (Brookfield RPS), a division of Brookfield Asset Management Inc. (Brookfield), acquired GMAC Real Estate.  Earlier this month, Brookfield RPS acquired Real Living Network Services, a subsidiary of Real Living Inc., and as a result will now rebrand GMAC Real Estate as Real Living. 

Columbus, Ohio-based Real Living is a national award-winning brand known for its innovation, customer service and track record of attracting results-driven brokers and sales professionals, along with a culture of partnership and collaboration within its network. 

“In Real Living, we found the ideal partner and brand for what we are hoping to accomplish with our real estate operations, which we are committed to building even further,” said Graham Badun, Managing Partner & CEO of Brookfield Residential Property Services.  “We explored a number of options, including creating an entirely new brand from the ground up, but our customer feedback and research kept leading us back to Real Living.  Both companies share many of the same core values and combined will be part of a bigger, stronger network of brokers and sales professionals.” 

Badun added, “We are thrilled to have Real Living as our flagship U.S. real estate brand, and welcome Real Living’s 2,000 brokers and sales associates into Brookfield RPS’ North American real estate network of almost 30,000 real estate professionals.  We look forward to further expanding the size of our network by adding new franchisees that are truly looking for something fresh and different, and we are excited about the opportunity to take the brand to new markets internationally.  Adopting and expanding an already established and respected brand will benefit the entire GMAC Real Estate network of brokers and sales professionals from day one,” he said.

Badun also announced the appointment of Real Living’s Harley E. Rouda, Jr., a longtime real estate industry broker, owner, operator and franchisor, as President of the newly combined operations.

Real Living was founded in 2002 and the company has grown to become one of the nation’s premier real estate companies and brands.  Its technology platform has been recognized by Inman News as one of the best in the industry, the company has been named “Most Promising New National Brand” by The Swanepoel TRENDS Report, and Entrepreneur Magazine listed Real Living as one of the Top 50 New Franchises.

“We brought a truly fresh approach to the industry earlier this decade when we launched Real Living as the first-ever consumer lifestyle real estate brand, and we will continue to do so by bringing new programs, services, support, training and technology, to our brokers and sales professionals,” Rouda, Jr. said. 

“There is an incredible need for a broker and agent-centric brand that is consumer-focused, yet managed by an experienced team that understands real estate.  Combined, Real Living and GMAC Real Estate have that team as well as a truly differentiated brand,” he said.

Brokers and sales professionals looking for more information on the launch and rollout of the Real Living brand can click www.realliving.com for more about the announcement.  Company executives will also be available at this week’s annual NATIONAL ASSOCIATION OF REALTORS® Conference & Expo in San Diego.

About Real Living
Real Living is a full-service real estate company with a comprehensive and integrated suite of resources and services for franchisees, sales professionals, and consumers. Real Living was named one of the best new franchisors by Entrepreneur magazine. The firm also won the Inman Innovator Award and was named the most promising new national brand by the Swanepoel TRENDS Report. For more information, visit http://www.realliving.com

About GMAC Real Estate
GMAC Real Estate is one of the industry’s leading real estate firms with offices throughout the United States, Canada and Portugal.  The company’s unique service delivery model, Premier Service®, has earned it a national Customer Satisfaction Rating of 95% since its inception in 2002 – the best in the industry.  For more information, visit http://www.gmacrealestate.com

About Brookfield Residential Property Services
Brookfield Residential Property Services is a division of Brookfield Asset Management Inc., a global asset manager focused on property, power and infrastructure assets.  Brookfield has approximately USD $90 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and on NYSE Euronext under the symbol BAMA.  Brookfield Residential Property Services was named in the 2009 Swanepoel TRENDS Report as the number one real estate trendsetter in 2008.  For more information, visit http://www.brookfieldrps.com