HomeSmart International CEO Matt Widdows. (Photo courtesy of HomeSmart International)
HomeSmart acquires Solid Source Real Estate Companies
HomeSmart, has announced its acquisition of metro Atlanta-based brokerage Solid Source Real Estate Companies and its nearly 2,000 agents.
This latest acquisition makes HomeSmart the no. 1 transaction-fee brokerage in Georgia in the following categories based on 2022 metrics:
• Agent count 4,047
• Transaction sides 11,021
• Sales volume $4,550,547,983
“The HomeSmart model performs at a higher rate than any other in the industry and rigorously captures operational data to back it up,” said Matt Widdows, HomeSmart Founder and CEO. “In less than two decades, we’ve scaled our model to more than 25,000 agents across over 200 office locations and operating ability in 49 states. I believe we’re the only brokerage with the right foundation and system of people, processes and proprietary technology to allow growth at this rate.”
Michele Velcheck, President and CEO of Solid Source Real Estate Companies, founded the brokerage in 2003 based on the core principles of fairness, convenience and heart. She shared there was no other brokerage that was more closely aligned with the culture, values and commission structures for her agents than HomeSmart.
“I first met Matt Widdows in 2006 and again in 2011 to learn how he implemented technology to expand, and these ideas led to the addition of eight offices and over 2,000 Solid Source agents,” said Velcheck. “The unparalleled value HomeSmart offers to agents and the consumer experience, along with its extraordinary vision for the future in our industry made the decision to sell to HomeSmart the obvious path forward. Solid Source Realty is honored and thankful to join the HomeSmart bamily–business family!”
The acquisition of Solid Source continues to bolster HomeSmart’s expanding footprint in Georgia, joining the company’s other corporate and franchised locations across the state.
Before Solid Source, HomeSmart’s acquisition of Atlanta-based PalmerHouse Properties in January 2021 was its largest purchase to date and a pivotal step in its strategic expansion plan. The deal added more than 2,000 agents and six new markets to HomeSmart’s portfolio while keeping the PalmerHouse Properties brand. Today the company announced the PalmerHouse Properties brokerage is rebranding itself to HomeSmart to better align with the national HomeSmart network as a whole.
“I am excited to see the expansion of HomeSmart through its most recent acquisition of Solid Source Real Estate Companies,” said Kevin Palmer, former CEO and Founder of PalmerHouse Properties. “This is a clear demonstration of HomeSmart's commitment to the Atlanta market and continued support of the Georgia-based agents within the HomeSmart family.”
Also in the Atlanta area, HomeSmart Realty Partners serves over 100 agents throughout the Roswell community. Partnering with our corporate and franchised locations creates unique benefits for our agents and the consumers they serve.
“Our strategy is to drive continued growth in the markets where HomeSmart has an established presence like Georgia, as well as entering into new states and major metropolitan areas through acquisition,” said Widdows. “We want to focus on increasing brand awareness as agents join and realize the full value of HomeSmart’s business model, processes, technology and highest possible service level with a human touch.”