Equus Resources Acquires Real Estate Company
July 27, 2005 · By Bill Austin
Equus Resources Acquires Real Estate Company
ATLANTA, July 27, 2005
Equus Resources, Inc. (Pink Sheets:EQUR) (”Equus”) announced today it has acquired REALPROS(TM) Real Estate, Inc. (”REALPROS(TM)”), in connection with its acquisition of American Career Training Institute, Inc. (”ACTI”), an Atlanta-based financial services and real estate training institute.
REALPROS(TM) is a licensed full-service real estate broker which has operated in the Atlanta metropolitan area for the past six years. REALPROS(TM) charges its experienced agents an annual fee and a flat per transaction fee per transaction which allows its agents to significantly increase their share of commissions earned per transaction. This model has made the company successful in recruiting agents from larger local brokers as well as the national firms.
REALPROS(TM) provides its agents initial and ongoing training programs and also offers an apprenticeship program for new agents. Equus plans to rapidly increase the agent base of REALPROS(TM) by aggressively marketing the business model and by expanding operations throughout the Southeast.
Randy Harris, President of Equus, in commenting on the acquisition, stated: “This acquisition fits in perfectly with our one-stop financial shop concept by adding home sales to our growing stable of consumer services. In this same vein, we are very excited about the ability of REALPROS(TM) to generate additional business opportunities for our related financial services operations. The business model at REALPROS(TM) has significant competitive advantages over other real estate brokers that will enable us to replicate it regionally and ultimately nationally.”
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