Century 21 NorthBay Alliance is acquiring the Prudential California Realty offices in Santa Rosa and Rohnert Park, the companies announced Monday.
The combined company will be the third-largest real estate firm in Sonoma County, based on agents and sales volume.
Prudential California’s four partners — Ross Liscum, Tom Torgerson and Tim and Pat Miller — will relinquish ownership in the firm. All four will move to Century 21 and continue to sell properties.
“After 28 years of ownership, we felt this was a good opportunity for us as well as all our agents,” Liscum said. “We came to the point where we felt it was time to move on from ownership and concentrate on real estate sales.”
The acquisition takes effect Wednesday. Financial terms were not disclosed.
Liscum and Torgerson together own the Santa Rosa office and for the past 14 years have held a half-interest in the Rohnert Park office. The Millers own the other half of that business.
The combined company will have about 180 agents and broker associates in eight offices in Sonoma, Lake and Marin counties. Slightly more than 40 of Prudential’s agents and broker associates will make the move, as well as a handful of office staff, Liscum said.
The owners of the local Century 21 business are Pat Provost, Glenn Gephart, Greg Cornelius and Jeff Collaso.
Provost said the owners were pleased to add the Prudential California partners and agents, which she called “great competitors” with well-run offices.
As for clients, Collaso said the larger company will increase its share of the market and “our sellers will have more visibility.”
— Robert Digitale