On October 18, 2023, Unite Real Estate announced a merger between United Real Estate | DFW Properties and Insight Realty Network. The resulting company grow United's footprint within Texas to 1810 agents, 830 of whom will serve the North Texas area. The merger was driven by "shared core values, synergies, and a desire to expand their agents' local and national market reach". The resulting company will operate as United Real Estate | DFW Properties with offices in Fort Worth and Grapevine.
Andy Bearden, CEO of United | DFW Properties, spoke to the value of the deal:
United approached us because of the value we offer. By combining our arsenal of resources, we are doubling down on the market and positioning our company and agents for explosive growth. In this merger, one plus one equals four.
Important resources United brings to the table include:
- Nationwide referral network
- Bullseye Agent Productivity Platform
- Automated marketing
- Customizable websites
- Lead automation and training
Insight's value in the deal includes:
- One-on-one social media consulting
- Regus workspace partnership
- Mentorship program for new agents
- Property management program
- Team-building expertise
Another major factor includes United's ability to expand its market share in the hot DFW market. With compatible cultures and valuable synergies via merger, the merger made sense given United's desire to plant roots in The Metroplex. Brenda Cole, owner-principal broker of United | DFW Properties, spoke to the value:
We have discussed growing through merger or partnership for some time. We built our brokerage from the ground up and knew we wanted to expand further for our agents and clients. Having a powerful partner in the Fort Worth market makes a lot of sense for us. Collectively, we will gain market share throughout the DFW metroplex.
As the housing market cools and cost of capital remains high, it is likely that there will be more M&A activity within the entire real estate space, not just brokerage. Consolidation can bring more than the sum of its parts when there is a joining of differing area of expertise, not to mention the cost savings that can be realized by combining operations.