Inman.com:

A real estate veteran who previously sold his company to GMAC Home Services has bought it back as a franchise operation, according to a company announcement today.

Saul B. Cohen, who with Joseph Hare established Boston-based Hammond Residential Real Estate in 1991, sold that company in 2001.

Last year, Canada’s Brookfield Residential Property Services entered into a deal to buy GMAC Home Services LLC, including its real estate brokerage operations — GMAC Real Estate ranked fifth in transaction volume and 10th in total transaction sides in 2007 among U.S. real estate companies.

Hammond’s 12 offices will now operate as a GMAC Real Estate franchisee, according to the announcement today — the company had sales of about $1 billion in 2008.

Hammond Residential GMAC Real Estate has about 400 sales associates and employees.

Also today, GMAC Real Estate announced that two other company-owned Carlson GMAC Real Estate offices in Massachusetts have been acquired by Robert Molta, a longtime real estate industry executive, and a Carlson GMAC office in North Andover was sold to real estate veteran George Schruender.

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