Coldwell Banker Acquires McGarvey Clark

In a move that mirrors a consolidation trend among real estate brokerages, Coldwell Banker Southern California said it has acquired McGarvey Clark Realtors, a major independent firm in North Orange County, for an undisclosed sum. Analysts said national firms are sweeping up local real estate businesses that find it more difficult to attract buyers who are relocating to Southern California and lack the resources to invest in Web sites that could help raise their profiles. The acquisition of McGarvey Clark will give Coldwell a foothold in Fullerton and Yorba Linda, areas that the smaller company dominated, analysts said. The move allows Mission Viejo-based Coldwell “to create an immediate position in these North Orange County markets without having to build new offices and compete head-to-head with a very strong local firm,” said Patrick Veling, a housing market analyst at Dynamic Marketing Resources Inc. in Fullerton. Coldwell is the largest real estate brokerage in Southern California.