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Acquisition of Historic Fresno Real Estate Brand Creates Area's Largest Brokerage
gvw_edward_smith
By Edward Smith
Published 1 month ago on
April 16, 2024

Realty Concepts announced the purchase of Guarantee Real Estate, once an affiliate of Berkshire Hathaway. (GV Wire Composite/Paul Marshall)

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Fresno-based Realty Concepts has purchased another local real estate giant, bringing the historic company back to local ownership.

Guarantee Real Estate’s 370 agents will become part of Realty Concepts’ 315-agent team, forming the largest real estate agency in Fresno, according to a news release.

Being a large brokerage means more available resources including available and data, according to the release.

The unified company will operate solely as Realty Concepts, according to J.P. Shamshoian, CEO and sole owner of Realty Concepts.

With Guarantee and Realty Concepts together, the company anticipates one-fifth of all transactions will be done by the unified brand.

“We are honored to continue the great legacy of Guarantee Real Estate at Realty Concepts,” Shamshoian said. “This is a coming together of firms with common ethics, common friends, and a common commitment to serving the best interest of the public.”

 

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Guarantee Purchase Brings Storied Real Estate Company Roots Back to Fresno

The seeds of the merger began with a friendship between Shamshoian and the descendants of the founder of the Guarantee name, according to the release. Shamshoian expressed an interest in bringing the company back to local ownership.

In 1984, the building and loan company, Guarantee Savings, spun off a real estate brokerage arm — Guarantee Real Estate. Guarantee Savings began in Fresno in 1919.

The bank named Scott Leonard president of the real estate company and in 1991, when regulations prohibited banks from owning real estate brokerages, Guarantee Savings sold the real estate company to Leonard, Joan Eaton, and Paul Gibson.

In 2013, Berkshire Hathaway-affiliate HomeServices of America purchased the real estate company. Leonard, Eaton, and Gibson stayed on in leadership roles.

The famous Guarantee “G” sign atop the downtown Fresno building became one of the last vestiges of the bank until the building’s current owner, State Center Community College District, took the dilapidated sign down in February, in hopes of creating a replica.

Shamshoian’s father, John Shamshoian, began Realty Concepts in 1991.

Guarantee agents in the Fresno and Clovis offices will work from Realty Concepts’ offices. Guarantee offices in other areas will remain open.

The unified company will now have offices in:

  • Fresno
  • Clovis
  • Oakhurst
  • Mariposa
  • Prather
  • Shaver Lake
  • Reedley
  • Selma
  • Visalia

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Edward Smith,
Multimedia Journalist
Edward Smith began reporting for GV Wire in May 2023. His reporting career began at Fresno City College, graduating with an associate degree in journalism. After leaving school he spent the next six years with The Business Journal, doing research for the publication as well as covering the restaurant industry. Soon after, he took on real estate and agriculture beats, winning multiple awards at the local, state and national level. You can contact Edward at 559-440-8372 or at Edward.Smith@gvwire.com.

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