A local Century 21 franchise has grown to 13 offices from two in less than three years, earning an award from its parent company for being the fastest growing franchise in the firms nationwide system.
Because Century 21 Hometown Realty was a break-even company in 2008, said CEO and Grover Beach resident Jack Hardy, what we needed to do to survive was attack the market.
So Hometown Realty, which at the time had offices in Arroyo Grande and Pismo Beach, approached other distressed real estate companies with offers to buy them, pare down the operations and take advantage of economies of scale, Hardy said.
In the process, Hometown Realty acquired Re/Max Ocean West with offices in Pismo Beach and Santa Maria, and South County Realty with two offices in Arroyo Grande.
It also bought other Century 21 franchises, including San Luis Properties in San Luis Obispo and Los Osos; Advantage with an office in Lompoc and two in Santa Maria; and Your Professional Choice in Atascadero.
In 2011, it opened an office in Paso Robles.
Hometown Realty has grown revenue 100 percent and earnings by 200 percent since beginning acquisitions, and is looking at buying realty companies in Ventura and Bakersfield.
Hometown Realty is owned by five partners on the Central Coast and Bakersfield, and has 300 real estate agents.
Century 21 is an international company with more than 7,500 independently owned and operated franchised brokerages in 71 countries and territories.