William Raveis Real Estate (WRRE), the top family-owned real estate company in the Northeast and Florida, is pleased to announce it has acquired Niantic-based Heritage Properties, a leading agency in New London County with more than $150 million in sales volume and close to 60 real estate professionals, effective today.
This acquisition strengthens Raveis’ position on the Connecticut shoreline with the combined firms obtaining number one market share in New London County, based on both 2017 closed volume and closed units, which is approximately 40 percent higher than the nearest competitor. Raveis will also acquire Heritage’s real estate training school, The Academy of Professional Education, in Niantic, where aspiring agents will learn from the best in the business.
WRRE continues to grow in Connecticut, despite the state’s economy staying stagnant, further proving the family-owned leadership’s strength in the industry. According to Chairman and CEO Bill Raveis, who founded the company 44 years ago, the company looks forward to growing even more in the state as they plan for future acquisitions.
“We are thrilled to welcome these talented Heritage agents led by co-owners Ann Carpenter, Bill Heenan, David Saindon and Mary Poola, who are reputable experts in their market and region, to our growing Raveis family,” said Bill Raveis. “This is a natural fit: our business cultures and philosophies are very much aligned. We are excited to work together and further build a real estate powerhouse in Connecticut.”
“We’re proud to join such a successful, outstanding team,” said Mary Poola, one of the four co-owners of Heritage, “Our strong talent will be armed with the best-in-the-business marketing tools and technology that Raveis offers. The synergies with the Raveis family culture make this a compelling next step for our company.”
Raveis has long been recognized as being on the cutting edge of marketing and technology with tools for agents that include Raveis 365, CRM – Moxi Works, and Adwerx.
“At Raveis, we give our agents all the opportunities to succeed and grow their business,” said Chris Raveis, President of Residential Sales for William Raveis Real Estate and Affiliates. “We will also soon unveil a new transaction management system that will make the home buying and selling process even more efficient. We know this will be a seamless transition and look forward to bringing all our tools to the Heritage agent base.”
Over the past 44 years, WRRE has grown from a single office over a grocery store in Connecticut to a family enterprise with over 4,000 highly trained sales professionals in 130 offices across nine states resulting in $10.2 billion in real estate sales in 2017. William Raveis Mortgage Company has financed almost $11 billion of residential mortgages since its inception, and the insurance company represents approximately 8,200 clients consisting of approximately 13,000 current policies with 26 major carriers. WRRE is the only privately held firm offering mortgage and insurance services under one roof to its clients, thereby creating a seamless end-to-end customer experience.