Press Release
January 11, 2001
TUCSON, AZ -- Long Realty Company announced yesterday that Tucson Realty & Trust Company's Residential Division
will be combined into Long Realty.
``Long Realty has joined forces with one of the most prestigious real estate companies in Tucson,'' said Stephen Quinlan, president and chief executive officer of Long Realty. ``We are very honored to form an alliance with Tucson Realty's elite team of residential real estate professionals.''
Under the agreement, Long Realty will operate Tucson Realty's Residential Division with no changes in management, offices or relationships with the 180 sales associates. Terms of the agreement were not disclosed.
``For years, Long Realty and Tucson Realty have set the standard for quality in Tucson and Southern Arizona,'' said George ``Hank'' Amos III, the former owner and chief executive officer of Tucson Realty's Residential Division. ``This partnership will enhance Long Realty's ability to provide homebuyers and sellers the most innovative real estate services available in the marketplace.''
Amos will serve in a consulting role to Long Realty during the transition and continue as the chief executive officer of Tucson Realty & Trust Company Management Services, LLC and Tucson Realty's Commercial Brokerage Division. The acquisition expands Long Realty's management, staff and sales associates to approximately 1,000 with more than $2 billion in annual sales volume and a 40-percent share of the Tucson residential real estate marketplace.
Long Realty, founded in 1926, is Southern Arizona's largest, full-service real estate company with 15 offices in Tucson, Green Valley, Sierra Vista, Bisbee and Benson. Its sales associates specialize in providing innovative residential, commercial and relocation real estate services. The company has affiliations with Cendant Mobility, Sotheby's International Real Estate Brokerage, Long Title Agency, Cendant Mortgage and other firms that provide home services such as home warranty, utility connection, and home-contractor programs.
Long Realty is part of HomeServices.com. HomeServices.com (Nasdaq: HMSV), based in Minneapolis, is the second-largest, full-service independent residential real estate brokerage firm in the United States based on closed transaction sides. The HomeServices.com system offers integrated real estate services, including mortgage, title and closing services, and various related e-commerce services. HomeServices.com operates primarily under the Edina Realty ( www.edinarealty.com ), Iowa Realty ( www.iowarealty.com ), CBSHOME Real Estate ( www.cbshome.com ), J.C. Nichols Residential ( www.jcnichols.com ), Long Realty ( www.longrealty.com ), Paul Semonin Realtors ( www.semonin.com ), Carol Jones Realty ( www.caroljones.com ), First Realty/GMAC ( www.firstrealtyhomes.com ), and Champion Realty ( www.championrealty.com ) brand names in 12 states: Minnesota, Iowa, Nebraska, Kansas, Missouri, Arizona, Kentucky, Wisconsin, Indiana, North Dakota, South Dakota and Maryland. HomeServices.com ranks first or second in market share in each of its major markets, operates 160 branch offices, has more than 6,700 sales associates and has an average 50-year operating history in its major markets. Information about HomeServices.com and its principal subsidiary companies is available on the Internet at www.homeservices.com .