United Real Estate – a division of United Real Estate Group (UREG) – announced its merger with Virtual Properties Realty (VPR), the largest residential real estate brokerage in Greater Atlanta and the state of Georgia. VPR’s 14 locations and 3,700 agents close over $2.5 billion in annual sales. Both companies operate full-service, tech-enabled, next-generation real estate brokerages with 100%/fee-based agent commission models.
The timing of the merger corresponds to the completed deployment of United’s comprehensive Bullseye™ Agent & Brokerage Productivity Platform. This virtual platform utilizes proprietary SEO algorithms to identify, retain and convert business leads for its agents and brokerages across the country. Powered by a 1.8+ million listings data warehouse, it generates over 3 million monthly visitors to United’s websites and 30,000 leads per year.
“Steve Wagner and Karen Burks, co-founders of VPR, are early pioneers of the full-service, high agent compensation model and have continuously enhanced their agent support systems. As a result, they have grown faster and more consistently than any other brokerage in the Southeastern U.S.,” said Dan Duffy, CEO of United Real Estate Group. “While VPR’s size and market share were appealing, we were also attracted to the close alignment of our cultures and how VPR truly demonstrates their commitment to extraordinary agent and client outcomes,” added Duffy.
VPR attributes its consistently high growth rate to the delivery of high-quality client experiences accomplished through its enormous commitment to training and development of its growing sales force. The company provides unique professional coaching and mentoring programs in addition to providing over 500 in-person and virtual training programs each year.
“VPR’s alliance with United Real Estate turbocharges our 21-year mission of progressive growth,” stated Steve Wagner, Broker Owner/Co-Founder of VPR. “VPR just gained a strong national footprint and better capacity to deliver what is needed to propel us into our future,” he explained.
“Bringing our two organizations together accomplishes a major milestone in our company’s success. Joining a much larger organization with a strong national network provides tremendous growth opportunities for our agents and more services to our clients,” stated Karen Burks, Broker Owner/Co-Founder of VPR.
“The addition of VPR reflects our commitment to build United’s national footprint. To do so with this market-leading company and quality people like Steve, Karen and their team is especially rewarding,” stated Rick Haase, President of United Real Estate and Chief Operating Officer of United Real Estate Group. “VPR has created a culture of success by adapting quickly to the changing real estate landscape; an example of that is their successful approach to the emerging iBuyer business segment. Merging with United Real Estate simply accelerates the process of smart growth for both companies,” he added.
United Real Estate has a network of more than 100 offices, 10,500 agents and will close 48,000 transactions and $12 billion in real estate sales annually.