The Lake Tahoe offices of Dickson Realty, including those in South Lake Tahoe, Zephyr Cove, Tahoe Keys, Incline Village and King’s Beach, will become Coldwell Banker offices effective March 11, according to a joint announcement from Nancy Fennell, CEO of Dickson Realty, and Daniel Jacuzzi, President and CEO of Select Group Real Estate Services.
With the addition of Dickson’s offices, Coldwell will consolidate their three Incline Village offices into two and the two Zepher Cove offices into one. These, however, are the only consolidations and Dickson employees will be staying with the company, Jacuzzi said.
“Our country is in a severe economic contraction and most businesses are contracting accordingly. We at Dickson are no exception,” Fennell said in a statement announcing the merger. “The Lake Tahoe residential market sales activity is off almost 50 percent from 2005 and we had to take a hard look at whether Dickson could maintain the level of presence and devotion in this environment we desire for the markets we serve. It was a difficult decision, but we have chosen to refocus our efforts on our Reno and Sparks core markets.”
Dickson Realty is now the second company to merge with Jacuzzi’s Select Group in the past year. Coldwell Banker Incline Village Realty merged with the Select Group in late October, 2008.
“Challenging real estate markets create opportunity for strong companies to grow and we are pleased to be able to have that opportunity to strengthen our company in this market,” Jacuzzi said.
Dickson Realty is retaining its Reno/Sparks and Truckee office locations.
By Nick Cruit
BONANZA STAFF WRITER
Published in the North Lake Tahoe Bonanza
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