Barre's BCK buys Potvin Real Estate
Toolbox
By David Delcore TIMES ARGUS STAFF - Published: March 10, 2009
BARRE – One of central Vermont's premier real estate firms just got a little bit bigger – again.
In a move that will expand BCK Real Estate's four-year-old experiment with property management, the company has acquired a former crosstown competitor with expertise in that very area.
John Biondolillo, president and CEO of BCK, said that was a big reason behind his recent decision to acquire Potvin Real Estate and bring broker/owner Scott Gagnon and his team of agents on board.
Gagnon has been named president of BCK Property Services, according to Biondolillo, who said Potvin has a long history of property management and leasing success which Gagnon now brings to BCK. In addition to property management and leasing, BCK will offer an array of real estate-related services to buyers, sellers, homeowners, banks and investors, he said.
Biondolillo said BCK's four-year-old foray into property management has been limited by brisk real estate business – a problem that will be solved by Gagnon's presence.
"We've wanted to diversify, but we've never had the time to develop it," he said of the property management arm of his company. "We've been turning business down."
Potvin has been a player in central Vermont's real estate market since 1968, but Gagnon, the company's newest owner, said the BCK alliance made a lot of sense.
"This is the right time for our company to align with the best real estate company in central Vermont," he said.
Biondolillo said the merger was an example of the latest trend in real estate.
"I think you're going to see fewer traders doing more volume," he said, noting Gagnon has been in real estate for several years and his team would be a welcome addition to both BCK and its customers.
"The experience and knowledge of the (Potvin) agents, coupled with the BCK's tools and technology, will be a great asset to buyers and sellers in the central Vermont area," he said.
The acquisition of Potvin marks the latest in a string of moves Biondolillo has made since buying BCK in 2003. The following year he opened an office in Montpelier, and in 2005 he decided to diversify, adding property management to the company's list of offerings.
In 2006 he acquired the assets of a Waterbury realtor and opened an office there. In December 2007 he opened a fourth office in Rochester and just last year he opened a fifth office in Northfield.
Although acquiring Potvin doesn't put BCK in a new market, it will allow it to expand the services it provides while maximizing space at the companies flagship office in Barre.
"It just seemed like a good fit with some economies of scale," Biondolillo said.
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