Hall & Nixon merges with Long & Foster -
[Cached Version]
Published on: 1/24/2006
Last Visited: 1/25/2006
Terms of the deal were not released, but Hall & Nixon founder-broker Phyllis Bosomworth said very little about the company's daily operations will change.The real estate company, which changed its name to Hall & Nixon/Long & Foster Real Estate of Elizabeth City when it became a Long & Foster franchisee in 2002, will keep that name, she said.
With the exception of a few personnel moves , real estate agent Gary Hobbs will replace Bosomworth as sales manager in the Elizabeth City office , customers shouldn't notice any changes, Bosomworth said.
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Bosomworth will remain as broker-in-charge in the company's Elizabeth City office that employs 25 real estate professionals.
One change that is coming is the company's location.Hall & Nixon/Long & Foster will be moving from its current site at 706 Ehringhaus Street to new offices in the 1000 block of Ehringhaus Street in the next year, Bosomworth said.
Hall & Nixon Real Estate became a licensed franchisee of Long & Foster in 2002 as a way of tapping into the larger company's Internet presence, training programs and marketing strategies.The completion of the merger with the Fairfax, Va.-based firm should continue that process, Bosomworth said.
"The benefits I see, we will be able to be a part of the Hampton Roads and Chesapeake (Virginia) market," said Bosomworth, an Elizabeth City native who is married to a retired Coast Guard captain."There are a lot of people moving here from that area, and we are becoming more a part of that area."
Bosomworth says northeastern North Carolina has a bright future.
"Prices are still good," she said.
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Top executives from Long & Foster's corporate headquarters will visit with Bosomworth and her sales staff today to discuss the 38-year-old company's latest acquisition.
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Bosomworth said she had been approached by other large real estate companies interested in merging with Hall & Nixon.But she decided that Long & Foster was the best fit.
"They have a family-oriented company," she said."I like the values of the executives , integrity and honesty.They listen to the agents.They appreciate the agents who make the money (for the company).And they reward and pay attention to the agent."
Bosomworth said the merger will allow her to stay active in real estate, while also giving her more time for her family.Her son Will is a local certified public accountant and his wife Erin works with Hall & Nixon/Long & Foster.Her daughter Molly and husband William Hamilton live in Asheville.
Bosomworth, a graduate of Elizabeth City High School, earned a degree in political science at the University of North Carolina at Chapel Hill and taught school in Camden County before entering the real estate business in 1978.She started Hall & Nixon Real Estate in 1986.