Cayce & Gain To Become Part Of Prudential Real Estate Group
Times Business Reporter
Prudential Insurance Co.'s real estate affiliates took another share of Seattle's real estate market this week with the announcement that West Seattle's Cayce & Gain Inc., a leading independent agency, will become part of a new agency to be called the Prudential Northwest Realty Associates Inc.
Roger Cayce, Mike Gain and John Wunder announced they will form the new company as a three-way equal partnership.
Cayce and Gain are founders of the firm that bears their names, and Wunder has been owner of The Prudential Benton's Realty.
Five years ago, Benton's Realty became a franchise of The Prudential Real Estate Affiliates Inc., the giant insurance company's real estate arm.
Gain said the combined firm will retain the same offices the two had separately: two in West Seattle and one each in Kent and Federal Way. He said the new firm will have about 64 percent of the market in West Seattle, based on comparisons with major competitors.
The new firm will have 211 sales associates, said Cayce. The Prudential Benton's Realty now has 145 agents in three offices and $210 million in annual closed sales. Cayce & Gain has 66 agents and $120 million in annual closed sales.
The move marks a continuing consolidation of the real estate industry.
Gain said he and Cayce enjoyed their status as one of the few remaining independent agencies but concluded that affiliation with The Prudential provided the best opportunity to build their
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