Royal LePage Real Estate Services announced Tuesday, July 21, that it has acquired the Coast Realty Group brokerage and property management business on Vancouver Island.
Coast Realty will, effective immediately, begin operating under the Royal LePage banner.
Barry Clark, broker owner of Royal LePage Nanaimo Realty with Travis Carmichael, will merge the brokerage with Coast Realty Group offices in Nanaimo, Ladysmith and on Gabriola Island.
Clark said it’s a positive move and will double the number of realtors, to 80 from 40, under Royal LePage Nanaimo Realty.
The merger triples the company’s regional market share.
“Nanaimo Realty’s been in business 68 years and Royal LePage has been in business 100 years,” Clark said. “It’s a good Canadian company and it’s very aggressive. The franchise is the fastest-growing franchise in Canada. We’re proud to be a part of it and moving forward.”
Phil Soper, Royal LePage president and CEO, said, in a press release, the company has made growth in British Columbia a strategic priority over the past year, adding 600 realtors through B.C. acquisitions.
The Coast Realty deal adds 150 realtors on the Island and in Powell River.
Royal LePage was formed in 1913 and has 600 offices and more than 16,000 real estate professionals across Canada.
Coast Realty Group was established in 1984 and operated from nine offices on the Island and one in Powell River.