Gulf South’s largest real estate firm buys local company

Latter & Blum Inc., the largest real estate company in the Gulf South, announced last Tuesday it has expanded to the bayou region by acquiring Houma-based Patterson Real Estate Inc.

Latter & Blum said in a release that the resurgence of the oil and gas industry in the Houma-Thibodaux area has invigorated exploration in the Gulf of Mexico and has driven job growth. Professionals in the oil and gas industry currently earn nearly twice as much as the average Louisiana worker, creating wealthier homebuyers and demand for higher priced homes, Latter & Blum said in a release explaining the acquisition.

“Today’s entry into Houma-Thibodaux uniquely positions our company to benefit from the unprecedented industrial expansion underway in Louisiana,” stated Latter & Blum Chairman & CEO Bob Merrick in a release. “Tens of billions of dollars are being invested along Louisiana’s energy corridor from New Orleans to Texas.”

Latter & Blum expanded to Lafayette in 2013 and Lake Charles in August before its insurgence into the bayou region.

“Our affiliation with Latter & Blum brings new technologies and business opportunities to our agents and moves us forward in our mission of delivering superior client services,” Patterson Real Estate co-owner Ron Brooks said in a release. “We believe our association with a regionally-prominent company will better position our people for the anticipated growth in our market.”

Latter & Blum President Rick Haase said in a release that both companies have shared similar values over the years.

“Our shared vision of providing excellent customer service allows us to work together to meet our clients’ expectations,” Haase said. “Houma-Thibodaux has the second-fastest job growth rate in Louisiana. Industry experts project 20,000 new jobs over the next decade. Our tools, services, and support are going to create new business opportunities for our agents.”