Red Oak Realty, the East Bay’s innovative independent brokerage with over 100 local agents and staff, is acquiring fellow East Bay independent brokerage Marvin Gardens Real Estate.
With the addition of Marvin Gardens’ 60 agents, Red Oak will serve more East Bay real estate consumers as the region’s largest independent real estate brokerage.* It will also become the largest brokerage overall in Berkeley, Albany, El Cerrito, Richmond and Kensington, Calif.
Not all brokerages have local roots or local brands like Red Oak Realty and Marvin Gardens. Increasingly, real estate is becoming a national business with ownership far from operations. As an independent brokerage, Red Oak has local ownership, which gives it the unique, high-quality, East Bay-tailored structure that we as locals know makes the East Bay special.
With this acquisition, Red Oak will grow by over 50 percent, and have six East Bay locations. In total, 160 agents will generate over $1.2 billion in annual sales volume and over 1,200 annual transactions.
The company will continue to exclusively focus on the East Bay and grow an independent, locally-owned brokerage focused on providing outstanding professional service to the local community.
“Ultimately, Marvin Gardens is changing its name, not its philosophy,” says Red Oak Realty Owner Vanessa Bergmark. “The company has built something that the agents and staff can be proud of, and it is important to preserve that success.”
Marvin Gardens Owners Todd Hodson and Marion Henan are joining Red Oak as sales managers. Bergmark will continue to serve as CEO.
“This was truly a decision from the heart,” Henan says. “Both companies have shared the same values for decades, and rather than work as separate factions or submit to a giant corporate takeover, we’ll be stronger together with this decision.”
*Transaction sides, Jan.-Jun. 2019. Single unit dwellings, 2-4 unit dwellings and lots/land in Alameda, Albany, Berkeley, El Cerrito, Kensington, Oakland, Piedmont, Richmond and San Leandro.
For more information, please visit www.redoakrealty.com.