Coup Gives Coveted Foothold
by January 11, 1999 12:00 am 49 views
Century 21 Cupit Street Realtors of Fayetteville scored a major coup Dec. 18 when it merged with Cooper Homes Realty in Bella Vista.
Cooper Homes, a division Cooper Communities, the state’s largest home builder, has been pursued by a number of companies in recent years. The merger gives Cupit Street a foothold in the middle of Bella Vista’s lucrative resale market.
Cupit Street is forecasting an additional $20 million in retail sales for 1999 as a result of the partnership.
“We had looked at buying into some other companies in other areas,” says Mike Cupit, owner of Cupit Street. “But Bella Vista seems to be in the natural flow for us. All of the people in the office there are major producers and there are about 1,200 lots listed there.
“We’re expecting a lot of business and great things in Bella Vista.”
Cupit Street will focus primarily on the resale end of the business while Cooper will concentrate on new construction. But each entity will assist the other.
“They’re going back to their roots and we’re doing what we do best,” Cupit says. “I think Cooper was happy about having the Century 21 name involved, and we’re really excited about working with Cooper.
“Our two names together offer immediate credibility.”
One of the most desirable aspects for Cupit Street was Cooper’s office location in Bella Vista’s Town Center Shopping Center which gets a lot of walk-in traffic.
Cupit Street, with branches in Rogers and now Bella Vista, recently opened another office in Bentonville. The company did $80 million in retail sales for 1998 and expects the Bentonville office will add another $20 million to $25 million.