United Real Estate Group has brought Platinum Realty into its family of companies, allowing the Midwestern brand to retain its identity in the process.
Platinum has a presence in Iowa, Kansas, Missouri, Nebraska and Oklahoma. The 13 Platinum offices in seven markets across those states will now be under the United Real Estate umbrella, adding nearly 2,200 agents from the Midwest to the company.
The merger is bringing the total number of agents working with United to nearly 20,000. It’s a step forward for a company that was already listed as the No. 1 fastest growing independent brokerage among the top 50 in the nation.
The company produced nearly $21.5 billion in sales volume in 2021, with operations in more than 30 states. According to Scott Deneve, who founded Platinum in 2005, United was a good option to go into an agreement with because of its likeness to his own business.
Platinum Realty Founder and CEO Scott Deneve.
“We’re a flat fee per transaction company, no different than United Real Estate is,” Deneve said. “It’s one of the reasons the integration of the two has been almost flawless.”
Deneve said he was also willing to move forward after meeting franchisees who opened United locations.
“I went to a United Real Estate annual convention and met all of the franchisees that were there,” Deneve said. “It was quite an exciting time because these franchisees are so excited about what United has to offer and where it’s going as a company. For a guy who’s been a lone ranger for so many years in the business, it’s exciting to be around people who’re energized.”
Dan Duffy, the CEO of United Real Estate Group, said franchising allows more brokers to come onboard with the company.
United Real Estate Group CEO Dan Duffy.
“They can secure a franchise for their brokerage with us and gain access to our service platform,” Duffy said. “If you’re an independent broker out there, you have an opportunity potentially to engage with United through a franchise.”
Duffy said United has about 75 franchisees in the company. Deneve said franchising is likely in the future for Platinum, too.
“Franchising is on the horizon, it’s something we’re looking into,” Deneve said. “We haven’t made the decision yet, it’s on the table, but it’s something we definitely want to do the right thing with for the organization as a whole.”
Regardless of what Platinum’s future looks like, it will maintain its identity. Rick Haase, president of United Real Estate Group, said brands that are part of the company across the country maintain their names.
United Real Estate Group President Rick Haase.
“Nationally, we run a house of brands, not a branded house,” Haase said. “In Nashville, we operate Benchmark. In Atlanta, it’s Virtual Properties. Now in this region, it’s Platinum. So, one of the things we wanted to make sure when Dan and I set down this road is that we’re not losing the strong identities of the companies that join us.”