HomeSmart Continues National Expansion With Acquisition of Large Colorado Brokerage
Real estate company sees exponential growth following acquisition of 1,514-agent Cherry Creek Properties.
SCOTTSDALE, Ariz. - June 01, 2017 - (BUSINESS WIRE) - HomeSmart, recognized by Real Trends 500 as a top 10 residential real estate company in the United States, has become the No. 1 brokerage in Colorado based on agent count. Its recent acquisition of Cherry Creek Properties catapults HomeSmart’s total network agent count to over 13,000 and increases its footprint to 123 office locations in 16 states. Already lauded for its national growth, HomeSmart also ranks in the Entrepreneur Franchise 500, Swanepoel Power 200 and the Inc. 5000 fastest growing private companies.
“We’ve built a solid operational foundation and believe we are the only brokerage in the country to create the right system of people, processes and technology to allow growth at this rate,” said Matt Widdows, HomeSmart’s founder and CEO. “Expect more activity like this from us in 2017. We want to grow to more than 16,000 agents before the end of the year.”
Combined national performance for HomeSmart, its franchises and Cherry Creek Properties in 2016 was $14,682,983,319 in closed sales volume and 53,888 in closed transactions.
In addition to its acquisition activity, HomeSmart continues its growth across its thriving network. Over the last five years alone, the brand has achieved a net-agent increase of 156 percent and grown its franchises by 925 percent across the United States.
“HomeSmart’s commitment to agent service and success is second to none, and I’m very pleased to be able to announce that Cherry Creek Properties has become part of this growing network,” said Dino Sarganis, managing broker and CEO of Cherry Creek Properties. “I agreed to this acquisition knowing that it would greatly benefit our agents through technology, training, resources and services that will, in turn, allow these agents to better serve home buyers and sellers in Colorado.”
“Dino and I have discussed bringing our teams together on a couple of occasions. I’ve always had regard for him, and the synergies between our transaction-based models are apparent,” said Widdows.
HomeSmart is deploying a skilled support team during the conversion in Colorado to ensure continued growth for the combined companies without wavering from the high standard of excellence HomeSmart is known for in the industry. Sarganis will support the transition of Cherry Creek Properties’ assets and agents as an integral part of the Denver team.
The acquisition of Cherry Creek Properties gives the combined network of agents more statewide locations to serve and meet with customers in its high-tech, consumer-focused meeting rooms. Each HomeSmart Cherry Creek agent will now have access to HomeSmart’s unmatched end-to-end proprietary systems and technology.
“Technology sets us apart,” said Widdows. “We apply technology in a centralized and integrated way to enable our brokers and agents to free up time and cost. This allows them to focus on their real estate business, which benefits everyone involved in the sale or purchase of a home.”
The acquisition of Cherry Creek Properties is just the start of HomeSmart’s aggressive growth plan, put in action by its leadership team in early 2017.
“Continued growth in Colorado has been a key objective for some time and expands on what we’ve already added this year in Texas, California, New York, Rhode Island, Ohio, Illinois and Arizona,” said Bryan Brooks, HomeSmart senior vice president of franchise sales. “Our model performs at a higher rate than any other in the industry and rigorously captures operational data to back it up. It continues to be proven in Phoenix, but has also been demonstrated to be an effective model for profitable growth with our franchisees across the nation.”
About HomeSmart International
Founded in 2000 by entrepreneur Matt Widdows, HomeSmart International quickly became the fastest growing real estate brokerage firm in Arizona. HomeSmart International is ranked in the top 20 real estate brokerages in the United States and the number one brokerage firm in the Phoenix market. From its international franchising headquarters based in Scottsdale, HomeSmart International offers franchisees efficiency and innovation coupled with the systems and technologies necessary to succeed in today’s evolving real estate industry. Today, the brand has more than 120 offices in 16 states and more than 13,000 agents nationwide. For more information on HomeSmart International and its franchise opportunities, visit http://www.homesmart.com/. Follow HomeSmart International on Facebook at www.facebook.com/homesmartfranchise and on Instagram and Twitter @HomeSmartIntl.
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