 In 2008, it was acquired by Brookfield Asset Management and in 2012, it merged into HomeServices of America.GMAC Real Estate was founded in 1998, when GMAC (now Ally Financial) bought the Better Homes and Gardens Real Estate brand from Meredith Corporation.In 2001, John Bearden was named president and CEO of GMAC Home Services, the parent company of GMAC Real Estate.