Merger Joins 2 Innovators of Alternative Compensation Model to Better Serve the South Florida Market
United® Real Estate has announced a merger with Charles Rutenberg Realty (CRR) in Fort Lauderdale, Fla. A pioneer in the alternative agent compensation model, CRR is uniquely aligned with United Real Estate’s existing goals and business practices.
With approximately 1,000 agents serving Fort Lauderdale, Miami and South Florida, CRR will continue its current operations, building on years of success by giving its agents 100-percent commission. Its existing structure aligns with United Real Estate’s transaction-fee model, allowing current CRR agents the freedom to continue their normal operations during and after the transition.
“Our mission is to greatly enhance the benefits and, in some cases, the financial trajectory of our agents’ careers,” says Rick Haase, president of United Real Estate. “We strive to give our agents a high-quality experience so they can do their jobs with excellence, and CRR is built on the same principles as United. We are also excited to be able to work side by side with Cynthia Benchick as she continues her incredible success building CRR’s strong image and reputation in South Florida.
“We’ve been identifying best-in-class providers to approach with mergers and acquisitions as part of our strategic plan to grow geographically and vertically, and to get the scale required to have a successful transaction-fee model company,” Haase says. “Charles Rutenberg Realty stood out because they hold themselves up to an extremely high standard of client services delivery and they’re run by a strong team. They have a great track record, and certainly have outperformed the vast majority of real estate companies in the nation.”
“I was inspired to start CRR out of necessity, and heard the complaints of agents who were unhappy about losing 50 percent of their commission to their broker,” says John Nestor, founder of Charles Rutenberg Realty. “We’ve since expanded inside and outside Florida using our 100-percent commission model. Today, United Real Estate gives Fort Lauderdale the opportunity to become a part of a larger organization built on the same principles, and I know they will be successful.”
“The entire Florida real estate market is growing, and we want to stay at the forefront,” says Benchick. “As owner of CRR, I have always looked for the best opportunities for my agents. I can say with confidence we will continue giving our clients the level of service they have come to expect while growing beyond what we could’ve done without United.”
“Fort Lauderdale is just the beginning for us,” says Dan Duffy, CEO of United Real Estate Group. “United will grow alongside exceptional leaders like John and Cynthia, giving more agents the opportunity to keep what they earn while providing high-quality service to their customers.”
As a part of the merger, Benchick, co-owner and managing broker, will continue to lead CRR in Fort Lauderdale. With over 15 years of experience growing and leading one of the largest real estate firms in Florida, she is essential to the growth of CRR and United Real Estate.
Financial terms of the transaction were not disclosed.
To learn more about United Real Estate, brokerage succession planning, brokerage valuation and sale or franchising opportunities, visit GrowWithUnited.com, call 877-201-7640 or contact Rick Haase at rick@unitedrealestate.com.
