United Real Estate, a division of United Real Estate Group, announced its merger with Benchmark Realty, LLC on Wednesday. Operating out of seven Greater Nashville locations with 1,300 agents and $3.2 billion in total annual sales, Benchmark is the largest independent real estate brokerage in the Middle Tennessee region. Both companies operate tech-enabled, next-generation real estate brokerages with 100-percent/fee-based agent commission models.
The combination of technology and agent compensation models are planned to release $1 billion in transactional efficiencies for agents and consumers when compared to other brokerage firms over the next four years, the company stated.
“We have spent the better part of ten years positioning United Real Estate for this kind of growth,” stated Dan Duffy, chief executive officer of United Real Estate. “Phillip Cantrell and Benchmark’s leadership operate one of the best brokerages in the U.S. While Benchmark’s size and market share were appealing, we were also attracted to the alignment of our cultures and how Benchmark demonstrates their commitment to extraordinary agent and client outcomes,” added Duffy.
“Benchmark and United share similar cultures; improving the lives of others is one of our primary beliefs. Our values inform our affiliate and client-based decision making,” stated Phillip Cantrell, CEO of Benchmark. “As a part of United, we will offer more marketing/productivity tools, education for our affiliates and more client services in the months ahead.”
“We search for companies that are well-managed, hold high standards for how they conduct business and are well-positioned for expansion. Benchmark certainly meets these criteria,” stated Rick Haase, president of United Real Estate and chief operating officer of United Real Estate Group. “Our Agent and Brokerage Productivity Platform – Bullseye™ is the realization of a decade of investment and is a tremendous competitive advantage, especially when compared to companies who have only recently begun their technology development journey. It creates both cost savings and opportunity for higher revenue, and we transfer these economic benefits to our brokers, agents and clients.”
The addition of Benchmark expands United’s network in the Greater Nashville region. The United Real Estate network will close over 48,000 transactions, have a network of 10,500 agents in 100 offices and will close over $12 billion in real estate sales in 2020.
To learn more about United Real Estate, brokerage succession planning, brokerage valuation and sale or franchising opportunities, visit GrowWithUnited.com or call 877-201-7640.