Brokerage Beat: News from Real, BHGRE, The Agency, more
Real gains billion-dollar SoCal firm; BHGRE celebrates 15 years; The Agency Nashville adds 5 agents; Entrepreneur Media names top real estate franchises.
Editor's note: The brokerage business is a busy one, with frequent moves, mergers and milestones. Here we highlight some of the latest activity among brokerages across the U.S.
Billion-dollar SoCal team joins Real
Southern California's agentinc, founded in 2019 and led by John McMonigle, has joined The Real Brokerage, the company announced this week.
The firm and its 125 agents close $1 billion in sales annually, the company said, thanks to its connections and stature in the pricey Southern California market.
In addition to California, agentinc has sales agents in Arizona, Texas and Washington who interface via the company's cloud-based office model.
Even prior to the wide adoption of social media, McMonigle was viewed as a real estate influencer, having appeared on Oprah and in other media. McMonigle said that Real's model was appealing for being best suited for agent recruiting and the ability to scale.
"The decision to join Real empowers agentinc to offer more financial incentives than ever before, including stock awards, an industry-low cap and revenue share program with potential attraction opportunities across the U.S. and Canada as well as Real's collaborative business model," McMonigle said in the announcement.
Better Homes and Gardens Real Estate marks 15 years
The real estate franchise affiliated with the popular magazine and media brand has celebrated its 15th anniversary.
Since launching in July 2008, BHGRE has expanded to 168 affiliates across the U.S., Canada, Jamaica, The Bahamas, Australia and Turkey. The company said that over half of its U.S. affiliated companies who have been with the brand at least two years have experienced exponential growth since joining.
Ginger Wilcox was named the new president of BHGRE in June after former leader and industry icon Sherry Chris announced her retirement earlier this year.
"The Better Homes and Gardens Real Estate network has grown dramatically in 15 years," said Wilcox, who added that the franchise's affiliation with Better Homes & Gardens "provides us with incredible insight into how people want to enjoy their homes and creates countless opportunities for our brokers and agents to create lasting relationships with their clients."
"Since our first issue in 1922, Better Homes and Gardens magazine has shaped how people can best enjoy their homes — and by extension their lives," Stephen Orr, editor in chief of Better Homes and Gardens magazine, said of the anniversary.
"We really value how our Better Homes and Gardens Real Estate partners and agents bring the concept of being happy at home to real estate buyers every day," Orr added.
The Agency Nashville nabs luxury specialist
Nashville newcomer The Agency Nashville, which launched earlier this year, has announced the addition of new senior agent, Grant Sory, from Mode Properties.
Sory — and the five agents who made the move with him from Mode to The Agency Nashville — closed roughly $50 million in properties last year, the company said.
A Nashville native, Sory specializes in luxury real estate and has a network of ultra-high-net-worth clients in the area. He cited The Agency's agent resources and his desire to expand throughout Tennessee and into Florida as reasons for joining the brokerage.
"The Agency brand and its incredible tech made it an easy choice for me. Their global reach, dedicated PR team, and unparalleled support staff will undoubtedly propel my business to the next level," he said in the announcement.
Realty One, RE/MAX and KW land top spots on Franchise 500 list
Entrepreneur Media has released its latest Franchise 500 list for 2023. Taking the top five spots among residential real estate franchises were Realty One Group, which ranked 68th overall, RE/MAX at #101, Keller Williams at #110, Coldwell Banker at #114 and Century 21 at #125. Other real estate brokerage companies to claim a spot on the top 500 list included NextHome, 1st Class Real Estate, ERA Real Estate, Corcoran, Weichert and Better Homes and Gardens Real Estate.
The Anywhere Real Estate brands — particularly Coldwell Banker, Century 21 and ERA — were among the residential real estate franchises to make the biggest jumps in rankings compared to 2022.