HomeSmart has acquired Mid-Atlantic brokerage TriStar Realty, Inc. and its more than 650 agents. The deal brings HomeSmart to three new territories for the brand: Maryland, Virginia and the District of Columbia. Its nationwide network is approaching 18,000 agents and its footprint increased to 190 office locations across 35 states.
Already lauded for its national growth, HomeSmart is one of the nation’s top 10 Power Brokers and ranks in the Entrepreneur Franchise 500 and Inc. 5000 Fastest-Growing Private Companies.
“HomeSmart is the only brokerage in the country with the right foundation and system of people, processes and technology to allow growth at this rate,” says Matt Widdows, HomeSmart’s founder and CEO. “In less than two decades, we’ve scaled our model to 35 states. Expect a similar trajectory in 2020.”
In addition to its acquisition activity, HomeSmart continues its growth across its thriving network. The company was ranked on the 2019 Inc. 5000 list of Fastest-Growing Companies across the U.S. and is going on its seventh year with the Hall of Fame designation, recognized amongst only 1.64 percent of companies on the list to achieve such ranking. Combined national performance for HomeSmart, its franchises and TriStar Realty, Inc. in 2018 was more than 70,000 in closed transactions.
HomeSmart is deploying a skilled support team during the conversion in Maryland, to ensure continued growth for the company without wavering from the high standard of excellence HomeSmart is known for in the industry. TriStar Realty’s designated broker, Cindy Sinanan, will stay in that role as an integral part of the Mid-Atlantic team following HomeSmart’s acquisition.
“HomeSmart’s commitment to its agents is unparalleled,” says Sinanan. “I’ve worked with our agents in this region for 15 years, and I’m so excited to introduce them to HomeSmart’s technology, training and resources that will allow them to better serve homebuyers and sellers in the Mid-Atlantic.”
All agents will continue to have access to the current offices in Silver Spring, Bowie, Columbia and Waldorf. HomeSmart will be updating these locations to be equipped with state-of-the-art conference rooms, computers and SmartReception virtual receptionist technology. Agents will also have access to HomeSmart’s unmatched end-to-end proprietary systems and technology.
“Technology sets us apart,” says Widdows. “Our centralized, integrated platforms free up time for our brokers and agents at no additional 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 TriStar Realty comes ahead of HomeSmart’s 20th anniversary and as part of an aggressive growth plan to double the company’s agent count in the next three years.
“Expansion to this region of the United States has been a key objective for some time,” says Bryan Brooks, HomeSmart International 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 our other corporate locations in Phoenix, Denver, Palm Springs, and Florida but has also been demonstrated to be an effective model for profitable growth with our franchisees across the nation.”
“We’re unbelievably excited to be solidifying our footprint along the East Coast,” says Ashley Bowers, president of HomeSmart International. “The synergies between TriStar and HomeSmart start with the model but really come alive with our cultures and how we treat our REALTORS®. We’re looking to double in agent count over the next three years, and this acquisition is just the beginning.”
For more information, please visit www.homesmart.com.
