A RE/MAX residential real estate franchise with offices in Glastonbury and South Windsor has acquired three offices of a competitor, expanding the franchise into the Farmington Valley.
RE/MAX Edge has acquired RE/MAX East of River in Manchester and Mansfield and RE/MAX West of the River in Farmington. Terms of the transaction weren’t disclosed.
Barbara Weinberg, former co-broker and owner of RE/MAX East and West of River, said the decision to sell came as she and her husband, Stanley, approached retirement age.
RE/MAX Edge was founded about two years ago by Kurt Potter and Cheryl Kebalo. Potter had worked at RE/MAX East of the River for 15 years, and Kebalo also had worked at RE/MAX.
Potter said his long association with RE/MAX East of the River was integral in reaching the purchase agreement.
The acquisition will increase the number of agents at RE/MAX Edge from 10 to 39, and all offices will remain open, Potter said. Weinberg, the former mayor of Manchester, will remain an agent with the combined franchise.
Potter said RE/MAX Edge hopes to capitalize on the improving real estate market and plans further expansion, especially south to the Middletown area. Both the Manchester and Mansfield offices have top market share in those towns, Potter said.