HomeSmart has acquired NorthGroup Real Estate, a move that expands the Arizona-based brokerage’s reach across the Southeast. The Cornelius, North Carolina, company brings nearly 2,000 agents into HomeSmart’s network, which now exceeds 27,000 agents and spans 250 locations. The companies did not disclose the financial terms of the deal.
Key takeaways
The acquisition strengthens HomeSmart’s presence in four states while keeping NorthGroup’s current operations in place, according to the companies.
- NorthGroup adds nearly 2,000 agents to HomeSmart’s network.
- HomeSmart now has more than 27,000 agents and 250 locations nationwide.
- NorthGroup agents are expected to continue operating as usual.
- Financial terms were not disclosed.
A larger Southeast footprint
NorthGroup operates across Florida, Georgia, North Carolina and South Carolina. HomeSmart said the acquisition significantly expands its presence in those states. Before the deal, HomeSmart listed five locations in Florida, six in Georgia, seven in North Carolina and one in South Carolina. The number of NorthGroup locations was not provided in the announcement.
The acquisition is part of HomeSmart’s broader growth strategy. The Scottsdale-based company has pursued expansion across the country, and adding NorthGroup gives its network a larger base of agents in the Southeast.
Agents will retain their existing model
Both brokerages use a 100% commission structure. Agents pay a monthly fee for access to brokerage support, technology and training, rather than sharing a percentage of each commission with the brokerage.
HomeSmart and NorthGroup said NorthGroup agents can continue their work as usual while gaining access to HomeSmart’s broader resources. HomeSmart CEO Matt Widdows also pointed to expanded tools and services and the company’s national referral network as potential benefits for the incoming agents.
Leaders emphasize continuity and growth
NorthGroup founder, President and CEO Scott Wilkinson described the acquisition as an opportunity to build on the company’s existing business and culture. He said agents would remain focused on their clients and businesses, with HomeSmart’s resources behind them.
Widdows said the companies’ cultures and business models align, and that supporting NorthGroup agents would remain a priority. The statements indicate that the transaction is intended to combine the brokerages’ networks and resources without an immediate change to agents’ day-to-day operations.