Dallas-based United Real Estate is expanding its presence in its home state. United Real Estate | DFW Properties is merging with Grapevine, Texas-based Insight Realty Network, it was announced on Thursday.
The merger will increase United Real Estate’s number of agents to 830 in North Texas and 1,810 statewide. The combined company, which will operate under the name United Real Estate | DFW Properties, will have agents based in both United Real Estate’s Fort Worth office and the former Insight Realty office in Grapevine.
Financial terms of the transaction were not disclosed.
“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 our agents for explosive growth. In this merger, one plus one equals four,” said Andy Bearden, owner of Insight Realty, in a statement.
Bearden will serve as CEO of the combined company and Brenda Cole, a co-owner of United, will serve as managing broker.
“We have been discussing growth through merger or partnership for some time. We have built our brokerage from the ground up and knew we wanted to continue to expand for our agents and clients. Having a strong partner in the Fort Worth market makes a lot of sense for us. Together we will gain market share throughout the DFW Metroplex,” said Cole in a statement.
Through the merger, Insight Realty agents will gain access to United Real Estate’s tools, including its nationwide referral network, CRM, customisable websites, training, automated marketing and the Bullseye Agent Productivity Platform.
Insight Realty brings one-on-one social media consulting, a Regus workspace partnership, a new agent mentoring programme and a property management programme.
“This merger is a perfect example of how companies can leverage synergies, internal talent and resources to become one of the strongest players in the market. Backed by the sixth largest national brokerage in the US, this combination is exciting and strategic for both companies,” said Rick Haase, president of United Real Estate, in a statement.
