Prudential Leaves Relocation and Real Estate Business

by Ryan Carrell

Last week, Brookfield Residential Property Services purchased Prudential Real Estate and Relocation Services from its parent, Prudential Financial. Brookfield is a current player in the relocation industry and will inherit the operations center of Prudential, with its US headquarters in Phoenix, AZ. You can read the Brookfield press release on the Wall Street Journal’s site here.

On the real estate operations side, Brookfield indicated that the current Prudential franchise members will be able to continue using the Prudential name under the terms of their existing franchise agreements. Brookfield currently owns a number of real estate franchise brands including Royal LePage in Canada and Real Living here in the US. It will be interesting to see what strategy they deploy with their newly acquired franchisees. We saw something similar to this when Carpenter was a long standing member of the Better Homes and Gardens franchise that was purchased by GMAC. Within a few years, our brand identity had to change – no small undertaking. Ultimately it worked out, as it was a catalyst to take control of our own local brand image and we became an independent member of the Leading Real Estate Companies of the World. Change is always interesting…

Posted by: Ryan Carrell