Tomlinson Black North buys Century 21 Advanta

Journal of Business, Mar 6, 2008 by Proffitt, Emily

Tomlinson Black North Inc., of Spokane, has bought the assets of Century 21 Advanta, another real estate agency on the North Side.

Mike Hume, broker and co-owner of Tomlinson Black North, says that brokerage bought Century 21 Advanta last month from longtime Spokane real estate broker Ron Hansen. Hume declines to disclose the terms of the agreement.

Hansen, who owned an independent real estate agency here for 21 years before starting Century 21 Advanta in 1998, sayshe sold the operation because he was nearing the end of his decade-long franchise agreement with Century 21 and was "looking at making a change," Hansen says he sold Century 21 Advanta's assets to Tomlinson Black North partly because it presented the best overall training support and compensation packages for his real estate agents. His agreement with Tomlinson Black also enables him to stay on and manage the office to ensure a smooth transition, he says. The office has 17 agents and will add another three agents soon, he says.

Hume says Tomlinson Black North bought the agency partly because it's advantageous for real estate agencies to operate larger offices.

"From a general operating perspective, it's easier if you can get economies ofscale because it cuts the overhead expenses, which are fairly significant in a real estate office," Hume says.

Tomlinson Black North, which has 125 agents and is located in a 12,000-square-foot office building at 8205 N. Division, will operate the former Century 21 Advanta office, located in a 1,500-square-foot leased space at 7407 N. Division, as a branch office, Hume says.

The signage at the Century 21 Advanta office will change to Tomlinson Advanta sometime before April 1, Hansen says, adding that his franchise agreement with Century 21 expires at the end of March.

While Tomlinson Advanta will operate as a branch office of Tomlinson Black North for the time being, plans call for a consolidation of the two operations into one building by the end of 2009, Hansen says.

In addition to its main office and Tomlinson Advanta, Tomlinson Black North also has a branch office in Cheney, called Tomlinson Black West Plains.