Re/Max Alliance, one of Colorado’s largest residential real estate brokerage groups, has acquired one of Oregon’s largest residential brokerage groups, Re/Max Equity Group.
Alliance’s father-son owners, Chuck and Chad Ochsner, have 21 offices along the Front Range and now own 12 additional offices in Portland, Ore., and Vancouver, Wash., which they acquired for an undisclosed price.
“We feel that we know how to run a successful multiple-office Re/Max organization,” Chad Ochsner said. “The opportunity presented itself.”
Re/Max Equity Group was one of three company-owned brokerages that Denver-based Re/Max Holding, through subsidiary Re/Max LLC, was trying to sell after it became a public company.
Ochsner said Denver and Portland have two of the most robust housing markets in the country.
Those two metro areas, along with San Francisco, tied for first for home price appreciation in October with a 10.9 percent gain, according to the S&P/Case-Shiller Home Price Indices.
Metro Denver ended last year with a record $20.2 billion in home sales.
That robust activity has in turn boosted the cash broker-owners have to work with.
Alliance and Equity Group will have a combined sales force of 1,400 agents, but they operate independently under their own brands.
Ochsner said one of the motivation behind the purchase was to try to find cost savings and to share best practices.
Ochsner, who has family in Oregon, plans to visit Portland quarterly. He and his father will remain based in the Denver area.
Aldo Svaldi: 303-954-1410, asvaldi@denverpost.com or @aldosvaldi
