We projected 2017 would be a “good, but not great year” for merger and acquisition (M&A) activity in the real estate space, and what unfolded was quite significant, including the biggest brokerage acquisition in decades, an ongoing fight for California market share and a busy stint for large regional independent firms. HomeServices of America makes largest brokerage acquisition in 40 years In September, HomeServices of America made waves with its purchase of mid-Atlantic giant Long & Foster, the nation’s largest private residential real estate company boasting $29 billion in sales volume. President of Real Trends Steve Murray, who was working behind the scenes on the Long & Foster deal as he often does with brokerage M&A, explained that “it was the largest acquisition in history going back 40 years and the multiple, to the best of our knowledge, was the highest ever paid.” At the beginning of the year HomeServices of America also also bought Houlihan Lawre…
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