Two of Northwest Arkansas’ most recognizable real estate companies are joining forces.
Clark Long & Associates and The Griffin Company have merged to form Weichert Realtors, members of both entities announced Thursday.
Financial terms of the merger were not disclosed.
Gary Griffin will serve as the new company’s principal broker, while Brandon Long, Carter Clark and Philip Taldo will work as executive brokers. All four men are listed as owners of the new enterprise.
“The Griffin Company has been in business for 31 years. We’ve been in business for six,” Long said. “I think some of our weaknesses are The Griffin Company’s strengths, and I think some of our strengths might be some of The Griffin Company’s weaknesses.
“The merger between the two companies is great in that respect.”
It also brings together two of the area’s most successful companies. According to the Northwest Arkansas Business Journal’s most recent list of largest real estate firms, Griffin Company ranked eighth with $94.66 million in 2008 sales. Clark Long ranked No. 10 with $47.12 million.
Their combined total of $141.78 million would’ve trailed only Lindsey & Associates ($348.35 million), Coldwell Banker Faucette ($220.94 million) and Harris McHaney Realtors ($200 million). Weichert Realtors — The Griffin Company will have a combined 112 agents.
“The biggest thing I see coming out of this deal is the utilization of the talents of both companies,” Griffin said. “Our associates are our biggest assets.”
The move also means the consolidation of workspace. Clark Long will close its offices in Fayetteville, Lowell and Bentonville, and move into Griffin’s offices in Rogers and Springdale, effectively creating a separate bureau for both Benton and Washington counties.
Despite the appearance, the merger could intensify competition in the area as members of both companies said their primary objectives have nothing to do with challenging other organizations with higher sales totals.
“The main things we’re looking at are, ‘How can we grow and how can we give our customers good service?'” Griffin said. “What happens, happens.
“We don’t have any agenda to take over the world.”