News Summary
Richmond’s real estate market sees a transformation with the merger of United Real Estate Richmond and River City Blues Realty, forming RVA Blue Realty. The new firm boosts agent count to 220, enhancing infrastructure and support for agents. John Finn and Smitty Smith lead this new venture, focusing on in-person workshops and expanding the brokerage’s reach. As discussions for further acquisitions continue, RVA Blue Realty aims to strengthen its position and service in the local market, promising a bright future for Richmond’s real estate scene.
Richmond Welcomes RVA Blue Realty: A New Era in Real Estate
Exciting news is brewing in the real estate scene of Richmond! The local market has just received a significant boost, thanks to the official merger of United Real Estate Richmond and River City Blues Realty. Mark your calendars, folks, because this merger was finalized on March 15 and it’s stirring up the real estate waters in the city.
A Growing Team
What does this mean for the agents and the community? Well, with River City Blues Realty joining forces with United, the total number of agents in the Richmond area now stands at an impressive 220 agents. River City Blues Realty brings with it an enthusiastic crew of 20 new agents who are ready to hit the ground running under their new banner, RVA Blue Realty.
At the helm is senior managing broker John Finn, alongside his brother Jeffrey Finn, who serves as the principal broker. This dynamic duo has been instrumental in guiding United Real Estate Richmond, which has blossomed since its founding in 2015 with just six agents!
Meet RVA Blue Realty
The newly formed team, now famously known as RVA Blue Realty, is set to explore fresh opportunities in the real estate realm. While specific terms of the cash deal remain under wraps, there’s a buzz about the third-party acquisition financing backing the merger—suggesting some financial firepower behind the scenes.
Meanwhile, Smitty Smith, the founder of River City Blues Realty, is stepping into a leadership position as a broker at United. His leadership is particularly welcomed as he aims to reintegrate his firm into a dedicated physical office space after operating virtually for the past few years. Smith is keen on enhancing in-person workshops, which he feels will add value for agents and their clientele alike.
Enhanced Infrastructure for Agents
This merger is not just a formal union; it’s an exciting opportunity for all agents involved! River City agents will benefit from the greater infrastructure provided by United, accessing improved resources, enhanced training programs, and robust administrative support. It’s a real win-win situation to elevate the quality of service throughout Richmond’s real estate industry.
A Fast-Growing Brokerage
United Real Estate Richmond isn’t just a small player anymore; it’s now officially the largest African American-owned brokerage in the Mid-Atlantic region and has claimed its spot as the third-largest brokerage in Central Virginia based on agent count. This is a testament to the firm’s successful flat-fee brokerage model, where agents are charged approximately $700 per transaction while keeping 100% of their hard-earned commissions. As trends in brokerage fees tighten, this model stands out and continues to attract agents looking for better financial opportunities.
Looking Ahead
What does the future hold for United Real Estate Richmond? John Finn has indicated that the company is in discussions with three additional firms for potential acquisitions. This means we might be hearing about even more exciting news in the coming months as they aim to expand their reach in the Richmond market.
Last year alone, United Richmond agents wrapped up over 1,000 home sales, making them a formidable force in real estate. The merger with River City Blues Realty only promises to strengthen this momentum moving forward.
As Richmond gears up for this new chapter with RVA Blue Realty, it’s clear that the local real estate market is evolving and full of possibilities. Buckle up, because the ride is just getting started!
Deeper Dive: News & Info About This Topic
- HousingWire: United Real Estate Announces Virginia Merger
- PRWeb: United Real Estate and River City Blues Realty Announce Merger
- RISMedia: United Real Estate & River City Blues Realty Merge
- Real Estate News: Brokerage Beat News
- HousingWire: Indie Brokerage and United Real Estate Richmond Form RVA Blue Realty
