Real Estate: Firms Eye $1 Million-Plus Homes In Coastal North County
The San Diego and Orange County offices of Dyson & Dyson Real Estate Associates has merged with Coldwell Banker Residential Brokerage.
Bob Dyson, co-owner of Dyson & Dyson, is now president of Coldwell Banker Residential Brokerage San Diego. His wife and co-owner, Loraine Dyson, is vice president of marketing. Dyson & Dyson has seven offices in San Diego County and two in Orange County. The deal closed Oct. 8.
Coldwell Banker Residential Brokerage, a Coldwell Banker franchise, is a division of NRT Inc., a residential real estate brokerage company with corporate offices in Parsippany, N.J., and Mission Viejo.
“We saw this new relationship as an opportunity to give our company and our sales associates the kind of financial strength only a company with NRT’s depth of resources can provide,” Bob Dyson said. “NRT’s national resources and commitment to the real estate industry will enable us to grow in this market at a faster pace than we could have on our own.”
According to Mike Good, executive vice president of NRT, the acquisition of Dyson & Dyson allows for NRT to create a new operating unit , Coldwell Banker Residential Brokerage San Diego. Previously, the offices in San Diego were part of a Southern California operating unit based in Mission Viejo.
Good said NRT originally approached Dyson & Dyson about the merger because, “As we’ve grown our operations so dramatically in California, we were looking to provide intense, hands-on service in San Diego.”
He said Dyson & Dyson’s operations closely matched Coldwell Banker Residential.
The new operating unit will have 21 offices and 900 sales associates in San Diego County, including the addition of Dyson & Dyson’s 300 associates. In San Diego and Orange counties, the total closed sales volume for both companies in 2000 was $7.4 billion on more than 15,000 transactions.
Bob Dyson gave examples of the combined company’s market share. For homes priced at $1 million and above, the brokerage will have a 37.4 percent market share. He said the market share is 60.1 percent in Carlsbad, 30 percent in Del Mar, and 34.7 percent in Encinitas.
Dyson & Dyson’s offices in San Diego County cover Rancho Santa Fe and Del Mar, north to Carlsbad. Coldwell Banker Residential has offices throughout the county and anticipates a stronger North County presence through the merger with Dyson & Dyson, according to Good.
“We’re very, very excited with this merging of the two companies. It signals a new and renewed focus on the growth of our organization in San Diego,” Good said.
Bob and Loraine Dyson founded Dyson & Dyson in 1988. The company’s offices in Las Vegas and Palm Springs were not included in the NRT transaction. Effective Oct. 22, Dyson & Dyson’s seven Palm Springs area offices will join forces with Coldwell Banker Eadie Adams and operate as Coldwell Banker Dyson & Dyson.
NRT Inc. is a joint venture of New York City-based Cendant, a provider of travel, real estate, vehicle and financial services, and New York-based Apollo Management LP, a private equity investment firm.
