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March 10, 2014 /PRNewswire/ -- ERA Real Estate, a global franchising leader, today announced that LBH National Corp., owned by
Roger Herman, has acquired Shorewood Realtors, a market leader in
Los Angeles County'sSouth Bay region. The firm will continue to serve
Hermosa Beach Palos Verdes,
El Segundo and
Redondo Beach. Herman is also the owner of ERA Herman Group Real Estate, which operates in
Boulder, Colorado Springs and
Fort Lauderdale and
Palm Beach, Fla.; and
With nine offices and 250 agents, Shorewood Realtors accounted for
$1.7 billion in sales volume in 2013. The company was ranked among the top 100 companies nationwide in the 2013 REAL Trends 500 report, which was based on 2012 sales data.
"The affiliation of Shorewood Realtors as an ERA Powered company significantly expands ERA Real Estate's presence in the
Los Angeles market and the prestigious
South Bay region," said
Charlie Young, president and CEO of ERA Real Estate. "
Roger Herman's commitment to growth aligns perfectly with our brand's vision for the future as we provide strong corporate support for brokers to build their business through unique business solutions such as the ERA Powered
® program, which provides prominent regional firms that have leading market share with access to the resources of a global brand while retaining their strong local identity."
"As an ERA Powered
® company, we will continue to leverage our own strong local name recognition and brand cachet while tapping into the tools, technology and expanded broker community of the global ERA brand to drive growth and expansion," said Herman, who will serve as CEO while Shorewood founder
Arnold Goldstein has been named chairman emeritus. "Understanding that real estate is local, ERA Real Estate's unique broker-first approach allows brokers the flexibility and support to build their business in a way best suited for their individual market."
This acquisition is the largest ever for an ERA Real Estate affiliated broker and was facilitated by the ERA Real Estate franchise sales team, which identified the transaction as an opportunity that would benefit both firms. With the addition of the
South Bay firm, Herman has tripled the size of his real estate brokerage-related operations, which include presence in
Herman's proven ability to expertly manage brokerage operations in multiple markets has helped fuel growth for ERA Real Estate and its affiliated broker community by building strong relocation corridors and creating a robust pipeline of referrals.