United Real Estate Group merger brings number of agents to nearly 20,000
The Dallas-based company’s merger with Platinum Realty will add more than 2,100 Platinum agents to the more than 16,000 already working at United, though Platinum will retain its own brand and compensation structure.
Dallas-based United Real Estate Group announced this week that it has merged with Platinum Realty in a move the company says will bring its number of agents nationwide to nearly 20,000. .
The merger will add Platinum’s more than 2,100 agents to the more than 16,000 already working at United, although Platinum will retain its own brand and compensation structure. Platinum operates 13 offices in five Midwestern states. United, meanwhile, has 110 offices in 30 states.
The companies did not publicly disclose financial details of the deal.
In a statement, United outlined the merger as part of its “strategy to attract regionally dominant independent brokers in key markets.” United CEO Dan Duffy also congratulated Platinum founder Scott DeNeve.
“Under Scott’s leadership, the Platinum Realty team has proven to have aligned values and, more importantly, a strong culture focused on affiliate agent results and constant innovation,” Duffy said in the statement. “We are delighted to be part of the Platinum Realty team and look forward to working with them and welcoming them to the national United organization.”
DeNeve was also optimistic, noting he has seen other companies align with United in recent years.
“They realize the benefits the relationship brings to their agents and their business,” he noted in the statement. “Platinum Realty will retain its brand, its agent compensation plan, which is similar to that of United, and its unique culture, while benefiting from increased leverage thanks to United’s strong national network and its technology, its cutting-edge tools and services. This is how we will evolve to advance our agents and increase our long-term dominance.”
The statement goes on to describe Platinum as an early pioneer of the 100% commission model, as well as a “ten times fastest growing privately owned US Inc. 5000.” United, the statement further noted, was classroom #7 on RISMedia’s 2022 list of top brokerages by trade side.
United Chairman Rick Haase also expressed excitement about the merger, saying DeNeve “and his team have built a business based on excellence and efficiency, and these key drivers have made Platinum Realty exceptionally capable of providing what agents need to succeed in today’s changing real estate landscape.
Email Jim Dalrymple II