by BRAD ROLLINS
Randall Morris & Associates has bought the exclusive Century 21 franchises in San Marcos and New Braunfels, reinforcing the company’s strength in Central Texas real estate brokerage.
Under the arrangement finalized last week, Morris’ San Marcos and New Braunfels companies will operate under the national brand. In New Braunfels, the change re-establishes Century 21’s physical presence in the Comal County market. In San Marcos, Morris’s company will merge with Century 21-The Excell Team under a new name, Century 21-Randall Morris & Associates.
Over the years, Randall Morris & Associates and the Excell outfit, formerly owned by Mark Mayhew, have traded places as the best and second-best producing brokerages in San Marcos.
“This puts us in a position to become one of the largest and most productive real estate companies in the Austin-San Antonio corridor and propels our growth like never before,” said Carter Morris, who is assuming day-to-day management of the Century 21 San Marcos and Century 21 New Braunfels offices.
Morris’ Wimberley Land Company will continue to operate independently.
The deal is expected to be formally announced early next year in San Marcos at an event headlined by Richard W. Davidson, Century 21 Real Estate’s president and chief executive officer. Morris did not disclose financial details of the arrangement.
In 2012, Morris’ and Mayhew’s agents facilitated a combined $50 million in sales, accounting for 50 percent of the market share in San Marcos and 25 percent in Hays County as a whole, according to an analysis of Central Texas MLS listings by the research firm Navica. The remainder of the San Marcos pie is divided among a host of smaller real estate companies, none of which hold more than 3 percent market share.
Randall Morris said he was cautious in his deliberations with Century 21 after more than 30 years as an independent realtor in Central Texas. But, he said, the timing for major change was ideal as his son, Carter, takes a lead role in the company.
“This affiliation allows us to provide even better customer service to our clients because of the vast new resources available to us. Additionally, we know that the quickest and best way to grow the company is to be an integral part of the No. 1 franchise in the United States,” Randall Morris said.Email | Print