From the Wires
Coldwell Banker Schmidt, Sunstar And Morris Merge
By: PR Newswire
Feb. 20, 2013 08:00 PM
PORT CHARLOTTE, ENGLEWOOD and PUNTA GORDA, Fla., Feb. 20, 2013 /PRNewswire/ -- Coldwell Banker Schmidt Realtors (CBSR) of Traverse City, MI, announced today that they have reached an agreement with Coldwell Banker Sunstar Realty, Inc. and Coldwell Banker Morris Realty, Inc. of Englewood, Port Charlotte and Punta Gorda, FL, (Sunstar/Morris) to merge operations.
The merger brings the number of CBSR sales associates and support staff from 700 to over 800 with the addition of the four offices in Florida. The combined annual sales are now $1,500,000,000+, closing over 10,000 transactions with their customers and clients. "Sunstar/Morris is a successful company we're proud to have on board," said Ken Schmidt, CEO of CBSR. "Don and I have had a working relationship since he consulted with me 25 years ago on growing my company in Michigan."
Don Randolph, broker and local president, will remain at the helm. "This is all part of the natural cycle of owning a real estate brokerage," said Randolph about the deal. "This is a great opportunity that allows me to bring more value to our agents in Florida." Don's wife Susie will also continue to manage the Kings Highway and Murdock Offices.
Michigan is the #1 feeder market in the nation for 2nd homes in the Florida market, 2nd only to Canada globally. "The natural synergy of that fact can only mean good things for our agents," stated Mike Schmidt, President of CBSR. "Operationally, the combined companies will benefit from integrated systems we've been developing for years. Agents will have a natural pipeline between the two markets enabling them to assist their clients in finding the perfect 2nd or retirement home."
Sunstar/Morris will continue to operate as Coldwell Banker Sunstar Realty, Inc. and Coldwell Banker Morris Realty, Inc.
CBSR was founded in 1927 and is family owned by Ken and Mike Schmidt, father and son. The company is ranked #3 of 1,500 Coldwell Banker companies nationally and #1 in Michigan in both residential and commercial. The company website is CBGreatLakes.com.
SOURCE Coldwell Banker Schmidt Realtors
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