CHARLOTTE – Charlotte-based NorthGroup Real Estate has merged with HomeSmart, bringing nearly 2,000 agents across North Carolina, South Carolina, Georgia and Florida into the national brokerage network.
HomeSmart said the combination expands its network to more than 27,000 agents and more than 250 offices in 48 states. The companies did not disclose financial terms.
NorthGroup will continue operating under its current structure. Its agents will keep their current business practices while gaining access to HomeSmart’s technology, services and national referral network, according to the announcement.
The arrangement gives HomeSmart a larger presence in the Southeast without an announced NorthGroup office closure, workforce reduction or change to day-to-day agent operations. For NorthGroup, the transaction adds the infrastructure of a national brokerage while preserving the regional brand that its agents and clients already use.
Inman independently reported the nearly 2,000-agent expansion and confirmed that NorthGroup would continue operating under its current structure.
NorthGroup’s office directory lists locations across the Carolinas, Georgia and Florida. Its Charlotte office is listed at 7761 Ballantyne Commons Parkway.
Both companies use a 100% commission model. HomeSmart said the shared model was a reason the organizations could combine while allowing NorthGroup to keep its existing operations.
The immediate business consequence is scale rather than a physical expansion announcement. Nearly 2,000 NorthGroup agents gain access to HomeSmart’s national tools, services and referral reach, while HomeSmart adds a large Charlotte-based brokerage with a four-state footprint.
The companies did not announce new offices, jobs, layoffs or capital investment in connection with the merger. NorthGroup said clients and agents should expect business as usual while the brokerage integrates HomeSmart resources.
Featured image: Charlotte skyline photographed Aug. 14, 2020, used only for location context. This image does not depict a NorthGroup or HomeSmart office. Credit: CamiJBoo/Wikimedia Commons, CC BY-SA 4.0.