HomeSmart Acquisition of PalmerHouse Properties brings multi-state deal and total agent count surpasses 22,000
HomeSmart announced the acquisition of Atlanta-based PalmerHouse Properties—its largest purchase to date and a pivotal step in its strategic expansion plan. The deal will add over 2,000 agents and six new markets to HomeSmart’s portfolio, growing the footprint to more than 22,000 total agents across 37 states. The move, according to Steve Murray, founder and partner with RTC Consulting and a senior advisor for HWMedia, “puts HomeSmart as one of the leaders of growth through acquisitions and one of the top-tier of companies in Atlanta area and the Southeast.”
“PalmerHouse Properties is a premier brokerage and great cultural fit with HomeSmart. We’re thrilled to have them join our team and are excited about the opportunities they will bring to all our agents and brokers, and their customers,” said Matt Widdows, HomeSmart’s founder and CEO. “This acquisition is another proof point that our plan to scale and accelerate growth is on track.”
RealTrends spoke with Bryan Brooks, senior vice president, franchise sales, for HomeSmart. “We’ve been taking our time to find the right company and cultural fit in areas where we strategically wanted to grow. PalmerHouse Properties is in the RealTrends 500 (No. 63 by transaction sides in 2020) and in a marketplace where we did not have a strong presence.” He notes that HomeSmart would like to make Atlanta a “hub for us, where we bring jobs to the Atlanta market and grow our footprint,” he says.
PalmerHouse Properties is headquartered in Atlanta with a large presence in key markets across the state and additional offices in Florida, Tennessee, Missouri, North Carolina and Alaska. With the acquisition, PalmerHouse headquarters will remain in Atlanta and each of its current office locations will keep the PalmerHouse Properties name and all HomeSmart offices will continue to operate as HomeSmart, but they will all be in the same family of companies.
“Joining the HomeSmart family offers our agents more buyers and sellers together,” said Kevin Palmer, CEO/Founder, PalmerHouse Properties. “Combining that synergy with HomeSmart’s 100% commission model, tech-forward approach to business and superior customer service creates an unmatched winning team.”
HomeSmart has grown rapidly in the past several years. The company’s strategic plan is focused on accelerating this growth by scaling to more markets nationally through acquisitions, launching HomeSmart-grown cutting-edge tech platforms and tools, a 100%-commission model, and advocating for needed changes and innovation that hold the real estate industry back.
Founded in 2000, HomeSmart is ranked in the top 10 real estate brokerages in the United States and the number one brokerage firm in the Phoenix market and in Colorado. From its international franchising headquarters based in Scottsdale, HomeSmart International offers franchisees efficiency and innovation coupled with the systems and technologies necessary to succeed in today’s evolving real estate industry. Today, the brand has offices in 37 states and more than 22,000 agents nationwide. For more information on HomeSmart International and its franchise opportunities, visit https://www.homesmart.com. Follow HomeSmart International on Facebook at www.facebook.com/homesmartfranchise and on Twitter and Instagram @HomeSmartIntl.