GMAC Real Estate was a

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

franchised

broker A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be confu ...

. It had 13,000 agents. In 2008, it was acquired by

Brookfield Asset Management Brookfield Asset Management Inc. is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct contr ...

and in 2012, it merged into HomeServices of America.

History

GMAC Real Estate was founded in 1998, when GMAC (now

Ally Financial Ally Financial is a bank holding company organized in Delaware and headquartered in Detroit, Michigan. The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mor ...

) bought the Better Homes and Gardens Real Estate brand from

Meredith Corporation Meredith Corporation was an American media conglomerate based in Des Moines, Iowa, that owned magazines, television stations, websites, and radio stations. Its publications had a readership of more than 120 million and paid circulation of more ...

. In 2001, John Bearden was named president and CEO of GMAC Home Services, the parent company of GMAC Real Estate. In 2002, the company ranked 6th in transaction volume among U.S. real estate companies. In 2006, the company awarded franchises in the

St. Louis St. Louis () is the second-largest city in Missouri, United States. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which e ...

area and in the Denver area. In 2008, GMAC Home Services LLC was acquired by

. In 2009, Brookfield merged the company into its Real Living division. In 2012, HomeServices of America, an affiliate of

Berkshire Hathaway Berkshire Hathaway Inc. () is an American Multinational corporation, multinational conglomerate (company), conglomerate holding company headquartered in Omaha, Nebraska, United States. Its main business and source of capital is insurance, from ...

, acquired Real Living.

References

{{DEFAULTSORT:Gmac Real Estate Real estate companies established in 1998 Real estate services companies of the United States Franchises Ally Financial Former General Motors subsidiaries American companies established in 1998