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MIDFLORIDA Acquires Real Estate Company

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Special to Highlands Today

Published: December 7, 2008

LAKELAND - MIDFLORIDA Federal Credit Union announces the acquisition of A. H. Realty.

On Dec. 3, A.H. Realty became part of MIDFLORIDA and has been renamed MIDFLORIDA Real Estate Sales LLC. Andy Hernandez, principal of A. H. Realty, has been named the president of MIDFLORIDA Real Estate Sales LLC, which will be a wholly owned subsidiary of MIDFLORIDA.

Kevin Jones, president and CEO of MIDFLORIDA, said, "While recently there have been trying times for the real estate industry, MIDFLORIDA intends to use its financial strength, its branding power and the expertise of the newly acquired agency to build a significant real estate agency to serve central Florida. Our goal is to increase agency sales to over 500 units in the first year of operation and to continue to build sales until MIDFLORIDA Real Estate Sales LLC is one of the top providers in the market."

"We know how to sell houses," added Andy Hernandez, the 29-year real estate veteran, "but we have not had the capital to build our business. Becoming part of MIDFLORIDA will allow us to create a unique real estate agency that offers a superior experience for both the customer and the Realtor."
MIDFLORIDA Real Estate Sales LLC will offer the customer one company for the entire home buying experience, including sales, mortgage lending, title work and homeowners insurance - from listing to closing - all under one roof.

"While the customer will enjoy this one-stop shop real estate concept, the Realtors will also enjoy greater benefits including a unique compensation package with access to group healthcare insurance, pool cars for showing properties and a 'no fee' environment where the Realtors only pay their license and Association of Realtors fees," Jones added.

Essentially, MIDFLORIDA Real Estate Sales LLC will be a traditional agency where the Realtors earn proportionately more as their sales increase, but won't be penalized by franchise, desk or monthly fees.

Hernandez added, "We think this environment will allow us the option to acquire local agencies, immediately increasing the number of Realtors and listings to the new agency."
MIDFLORIDA Real Estate Sales, LLC will continue to operate temporarily at the existing A.H. Realty sites at 2510 S. Florida Ave. in Lakeland and at 5628 Cypress Gardens Blvd. in Winter Haven.

However, by the end of 2009, big changes are planned. The main real estate office will relocate to the area adjacent to MIDFLORIDA's Hollingsworth Branch located at 3008 South Florida Avenue (currently AutoZone). The 8,000-square-foot site, which is owned by MIDFLORIDA, will be remodeled and become the regional headquarters of MIDFLORIDA Real Estate Sales LLC and MIDFLORIDA Real Estate Experts.

Two additional offices will open in existing MIDFLORIDA branches. The second floor of the MIDFLORIDA branch located at Duff Road and U.S. 98 N. in Lakeland will be transformed into a real estate area, as well as space that is available within the MIDFLORIDA Southern Counties Corporate Office at 5805 U.S. 27 N. in Sebring.

A site in East Polk County, which has yet to be determined, will round out the expansion resulting in five offices by the end of next year.

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