As economy reels, Prudential realty office expands

By James Thorner, Times Staff Writer
Posted: Apr 30, 2008 07:04 PM

Story Tools E-mail this story Contact the editor Print this story Comment on this story Social Bookmarking [+] Digg Facebook Stumbleupon Reddit Del.icio.us Newsvine

ADVERTISEMENT

How does a realty company ride out one of Florida's worst housing slumps? If you're Prudential Tropical Realty, you bulk up. After gobbling up five other agencies over the past six months — including downtown St. Petersburg's Prudential Gower Realty — Prudential Tropical is hot for other acquisitions. "We're really looking at south Pinellas as a wide-open market," vice president Rob Hilliker said Wednesday. The Trinity-based company typically seeks out agencies hurting from the slump in markets it wants to penetrate. Since October, it has also absorbed St. Petersburg's Premier Group Realty, Marie Powell Realty in Port Richey, First Choice Realty in New Port Richey and Murphy-Matthews and Associates in north Tampa. Hilliker said about 90 percent of the nearly 175 agents inherited through the deals have stayed on. "The old owners are usually concerned about their agents having a good home," he said.