HomeSmart merges with NorthGroup, adds 2,000 agents

HomeSmart is merging with NorthGroup Real Estate in a deal that brings nearly 2,000 NorthGroup agents onto the HomeSmart platform and expands the brokerage’s footprint across the Southeast, according to an announcement on Tuesday. With the addition of NorthGroup’s agents, HomeSmart said it will grow to more than 27,000 agents nationwide, operating across 250-plus offices in 48 states. The financial terms of the deal were not disclosed. The transaction significantly increases HomeSmart’s presence in North Carolina, South Carolina, Georgia and Florida. NorthGroup will continue to operate as it does today under its existing brand, allowing agents to keep their current business practices while gaining access to HomeSmart’s national scale, technology and referral network, the companies said. Both firms operate a 100% commission model, which reduces traditional split-based compensation in favor of flat-fee structures and brokerage-provided technology and support. That alignment was a key factor in the deal, HomeSmart founder and CEO Matt Widdows said in the announcement. “NorthGroup has built an impressive business with a strong culture, talented agents and a model that aligns closely wi...