Prudential merges with Home Source, ending real estate era

Logos for HomeSource and Prudential Georgia.

It’s the end of a real estate era in Peachtree City and Fayette County.

The Home Source Realtors, which has long been the home sales arm of Pathway Communities, the developer of Peachtree City, is merging with Prudential Georgia Realty, both companies announced late Tuesday.

Prudential — the successor company — is the top agency for transactions, buyers and listings in metro Atlanta, north Georgia, the Southern Crescent and west Georgia, said company President and CEO Dan Forsman.

Forsman, speaking of the more than 60 real estate agents of The Home Source in Fayette and Coweta counties, said Prudential Georgia is “excited to add such a fine group of professionals to our company.”

“Our size and scale allows us to implement innovations at a faster pace than smaller companies,” Forsman said. “While other companies were forced to cut their costs in recent years, we made significant investments in marketing, technology, training and support resources. The best agents flourish with our advanced capabilities. That is why we are so excited to add the talented agents from The Home Source to our team.”

Mitchell said The Home Source did extensive research on the leadership and capabilities of all the top-tier real estate companies before selecting Prudential Georgia.

“In considering our options to join forces with other companies, Prudential Georgia Realty became the obvious choice,” said Doug Mitchell, founder and chairman of The Home Source and also Pathway Communities. “They have a tremendous edge in marketing, technology, resources and international networks. They also have the largest corporate relocation business in the metro area.”

Mitchell said The Home Source also had “great respect” for Prudential Georgia’s leadership team.

“This merger is about making the best even better,” Mitchell said. “The talented agents from The Home Source will thrive in this new environment.”

The Home Source, in business for more than 25 years, has over 60 real estate agents and offices in Peachtree City and Newnan.

The Home Source Peachtree City office will be combined with Prudential Georgia Realty’s existing office at The Avenue Peachtree City and the Prudential Georgia Realty office in Newnan will move to The Home Source current location on Lower Fayetteville Road in Newnan.

Pathway Communities, responsible for the lion’s share of development of Peachtree City under its old moniker, Peachtree City Development Corp., will retain its operations here, according to the news release.

Although Peachtree City is bordering a full build-out, Pathways has expanded its horizon to creating developments in Coweta, Henry and Forsyth counties in addition to a new subdivision in LaGrange.

mudcat
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Joined: 10/26/2005
Awwwwwwwww, so sad

End of an era? Bit of a stretch there.

Robert W. Morgan
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Joined: 10/26/2005
What's so sad about that?

Looks like John used a press release for his article. Real reporting would have included interviews with some of the displaced divas at Home Source and some mention of the reason Pathways dumped their real estate company - like the highest agent desk cost in 5 counties and the dependance on the development company feeding their agents business, which of course ended when the new home market went south.