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Father-son team close deal to buy Century 21 offices

Tuesday, April 6, 2004

For the past few years, Ken Inman has harbored hopes of owning a Century 21 Realty office in Cape Girardeau. So when the opportunity to buy two offices came up in the same week, he couldn't pass it up.

On Friday Inman and his son, Keith, finalized their purchase of Century 21 Key Realty. That came just three days after the Inmans closed the deal to buy Century 21 Ashland Realty.

"We wanted nothing but Century 21," said Ken Inman, citing the New Jersey-based company as the largest by far in the nation. "One came available and then the other. We took advantage of the opportunity."

Ken Inman has been an employee of the Ashland office as a Realtor and broker for the past seven years. Keith also has been an agent at Ashland. The two were recently honored with the Centurion Award at the St. Louis Regional Brokerage Council Banquet. The award is given to agents who pulled in $179,000 to $357,999 in gross commission on units closed or sold 60 to 119 units. The Ashland office also received its 10th straight Centurion Office Award for the top adjusted gross commission and closed units for the year.

Although the father-son duo will maintain overall control of both offices, Ken Inman said the two will continue to function as separate entities. The senior Inman also emphasized that the management staff of both offices will remain intact.

"There will be no changes," he said. "We will maintain them as they are, as separate companies."

Part of that existing management structure will include the former owners of the Key office, Karen Mogelnicki and Barbara Travers, who will stay on as managing broker and office manager, respectively. Mogelnicki and Travers had owned the Key office for 22 years.

The Inmans purchased the Ashland office from Stacy Mansfield and Eugene Holloway, who had bought it from Herb and Thelma Annis just last August.

Although the personnel situation is secure at both offices, Ken Inman said the Key building at 980 N. Kingshighway will undergo some interior remodeling. He said the Ashland building at 2441 Myra Drive, which they also now own, is fairly new and in good condition.


335-6611, extension 137

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