September 2, 2009

Shorewest buys Savaglio and Cape; What does it mean?

Shorewest dropped a bomb on the local real estate market when it announced Tuesday it had acquired Savaglio and Cape real estate. It's the biggest local merger since First Weber absorbed N. Christensen and Son three years ago, and will undoubtedly change Racine's real estate playing field.

But how?

The biggest change may be Realtors shifting companies rather than going along with the merger, according to one long-time Realtor who works for a competitor of Shorewest and Savaglio and Cape.

While it's unlikely many people will lose their job in the merger, they said, some Realtors may see an opportunity to jump ship. "If they have to learn a new system, they might as well look around," said the Realtor, noting his company likely will talk to some employees caught up in the merger. "It'll be a new animal for people who work for Savaglio Cape."

The Realtor added any merger is "traumatic" for companies involved. But over time any initially hard feelings are worked out. "It's a major adjustment," they said, "but you can come through it."

8 comments:

  1. My guess is that Friz will retire very soon.

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  2. Screwed on Sixth9/02/2009 1:43 PM

    Fritz has more time to devote to his alcohol license review and approval business?

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  3. I wonder how Dickert is going try and find a profit in this for himself. You know, the mayor with no ethics?

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  4. This comment has been removed by a blog administrator.

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  5. A natural blending of a couple of real estate offices combining their 100 year old business models with mostly mediocre agents into one mediocre office to create the illusion of being the biggest guy on the block.

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  6. It means lost benefits to the employee's just like the N. Christianson Weber deal.

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  7. John Barry Stutt9/03/2009 10:44 AM

    Whenever a local company is bought out by an outside company, it generallly means that out of the community owners take the profits of the enterprise and are less willing to participate in the Racine's volunteer organizations or donate to community causes.

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  8. I agree, John, and I would assume it to be no exception for Shorewest who is more worried about being "Wisconsin's largest home seller" than being a respectable home seller.

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