HomeLife Chief Acquires Realty World in U.S.

The chairman of HomeLife Inc., a Newport Beach real estate franchiser with 220 offices nationwide, has acquired the U.S. operations of Realty World Corp. in Irvine, a larger but struggling competitor. Andrew Cimerman said he has purchased the U.S. licensing rights to Realty World and its network of about 400 offices for an undisclosed price from its owner, Brian MacDonald. Cimerman said he will operate the company separately from the publicly traded HomeLife, of which he is majority owner. He created a new entity, Realty World America, as a holding company for the U.S. franchise. Cimerman said MacDonald will continue to head Realty World and focus on developing the brand abroad. He said Realty World’s small staff has been offered jobs with the new company. HomeLife shares were unchanged at $2.89 in over-the-counter trading.