HomeSmart announces its acquisition of metro Atlanta-based brokerage Solid Source Real
Estate Companies and its nearly 2,000 agents
SCOTTSDALE, Ariz., Jan. 26, 2023
/PRNewswire-PRWeb/ -- HomeSmart, has announced its
acquisition of metro Atlanta-based
brokerage Solid Source Real Estate Companies and its nearly 2,000
agents.
This latest acquisition makes HomeSmart the no. 1
transaction-fee brokerage in Georgia in the following categories based on
2022 metrics:
- Agent count 4,047
- Transaction sides 11,021
- Sales volume $4,550,547,983
"The HomeSmart model performs at a higher rate than any other in
the industry and rigorously captures operational data to back it
up," said Matt Widdows, HomeSmart
Founder and CEO. "In less than two decades, we've scaled our model
to more than 25,000 agents across over 200 office locations and
operating ability in 49 states. I believe we're the only brokerage
with the right foundation and system of people, processes and
proprietary technology to allow growth at this rate."
Michele Velcheck, President and
CEO of Solid Source Real Estate Companies, founded the brokerage in
2003 based on the core principles of fairness, convenience and
heart. She shared there was no other brokerage that was more
closely aligned with the culture, values and commission structures
for her agents than HomeSmart.
"I first met Matt Widdows in 2006
and again in 2011 to learn how he implemented technology to expand,
and these ideas led to the addition of eight offices and over 2,000
Solid Source agents," said Velcheck. "The unparalleled value
HomeSmart offers to agents and the consumer experience, along with
its extraordinary vision for the future in our industry made the
decision to sell to HomeSmart the obvious path forward. Solid
Source Realty is honored and thankful to join the HomeSmart
bamily–business family!"
The acquisition of Solid Source continues to bolster HomeSmart's
expanding footprint in Georgia,
joining the company's other corporate and franchised locations
across the state.
Before Solid Source, HomeSmart's acquisition of Atlanta-based PalmerHouse Properties in
January 2021 was its largest purchase
to date and a pivotal step in its strategic expansion plan. The
deal added more than 2,000 agents and six new markets to
HomeSmart's portfolio while keeping the PalmerHouse Properties
brand. Today the company announced the PalmerHouse Properties
brokerage is rebranding itself to HomeSmart to better align with
the national HomeSmart network as a whole.
"I am excited to see the expansion of HomeSmart through its most
recent acquisition of Solid Source Real Estate Companies," said
Kevin Palmer, former CEO and Founder
of PalmerHouse Properties. "This is a clear demonstration of
HomeSmart's commitment to the Atlanta market and continued support of the
Georgia-based agents within the
HomeSmart family."
Also in the Atlanta area,
HomeSmart Realty Partners serves over 100 agents throughout the
Roswell community. Partnering with
our corporate and franchised locations creates unique benefits for
our agents and the consumers they serve.
"Our strategy is to drive continued growth in the markets where
HomeSmart has an established presence like Georgia, as well as entering into new states
and major metropolitan areas through acquisition," said Widdows.
"We want to focus on increasing brand awareness as agents join and
realize the full value of HomeSmart's business model, processes,
technology and highest possible service level with a human
touch."
About HomeSmart:
HomeSmart is a revolutionary real estate enterprise powered by our
proprietary end-to-end technology platform. We provide integrated
real estate solutions to agents, brokerages, franchisees and,
ultimately, the consumer. Our cloud-based platform empowers our
users to succeed by providing a full suite of technology offerings
covering nearly every aspect of the real estate transaction. Our
business model blend of corporate and franchied operations has
fueled our expansion to more than 25,000 agents across over 200
offices and 49 states.
For more information on HomeSmart, visit HomeSmart.com.
Media Contact
Krista Tillman, Evolve Public
Relations & Marketing, 1 4802743486,
krista@evolveprandmarketing.com
SOURCE HomeSmart