United Real Estate YTD Results: Leads Industry in Growth of Revenues, Gross Margin and Earnings; Raising 2021 Guidance
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United Real Estate YTD Results: Leads Industry in Growth of Revenues, Gross Margin and Earnings; Raising 2021 Guidance

Results Driven by Strong Organic Growth, Expansion of Affiliated Network Leveraging United’s Proprietary Bullseye™ Technology Productivity Platform

July 30, 2021 // Franchising.com // Dallas, Texas - United Real Estate Group announced today better-than-guidance performance for all key financial and operational performance indicators across each of its business units through June 30th, 2021.  In addition, the company successfully completed the post-merger operational integration and initial Bullseye™ Agent and Brokerage Productivity Platform technology rollout to recently merged companies, resulting in average growth among those merged companies post-closing of 24% (agent growth), 44% (transaction growth) and 65% (EBITDA growth).

Key Financial and Operational Performance Metrics Through June 30th, 2021

 

YTD
Jun-20

YTD
Jun-21

YTD June
Growth Rate

Agents

7,908

14,772

87%

Revenues (millions)

$26.810

$153.399

472%

Transactions

18,012

37,017

106%

$ Transactions (billions)

$4.032

$8.465

110%

Agent commissions earned (millions)

$17.726

$118.166

567%

  • Agent growth increased 87% YTD from 7,908 agents at the close of June 2020 to 14,772 agents at the close of June 2021.
  • Total revenues increased 472% YTD from $26.81 million at the close of June 2020 to $153.40 million at the close of June 2021.
  • Transaction count increased 106% YTD from 18,012 at the close of June 2020 to 37,017 at the close of June 2021.
  • Transaction volume increased 110% YTD from $4.032 billion at the close of June 2020 to $8.465 billion at the close of June 2021.
  • Agent commissions earned increased 567% YTD from $17.73 million at the close of June 2020 to $118.17 million at the close of June 2021.

“Our team has spent a decade under the radar doing the heavy lifting to refine our business model, deploy our proprietary cloud-based technology stack and build the operational infrastructure to become an Exceptionally High Growth Organization. We are now realizing the benefits of the efforts of our talented group of dedicated professionals,” said Dan Duffy, CEO of United Real Estate Group.

“We’ve built remarkable scalability and efficiency into United’s technology, support and operational platform. As our growth accelerates, the financial and operational leverage is being realized and margins are expanding even as revenues accelerate. It is really exciting to see everyone’s diligent efforts paying off in so many ways to the benefit of our agents, brokers and their clients.”

“The scale of our business now allows us to double down on investments in innovation with a regular cadence and enhance our value proposition to our stakeholders. We are adding new resources, tools and core services to our already robust technology-enabled business services platform. All these efforts are made more efficient with greater effectiveness as a result of moving our technology stack to the cloud.”

“Through United Real Estate’s unique, proprietary marketing and technology platform and our low agent fee, full-support business model, we have facilitated nearly a quarter billion more of commission income to our affiliated agents than they would have received from traditional commission-split business models. This allows our agents to earn a better living while still being responsive to consumer demands for lower-cost transactions and industry-wide changes as they evolve. Empowering our network of brokers and agents to be nimble and responsive to consumers is a hallmark of our network and our penultimate goal.”

SOURCE United Real Estate

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