April 16, 2018

AZ Business Magazine

HomeSmart acquires former Coldwell Banker brokerage

HomeSmart has acquired Coldwell Banker Trails and Paths and its 65 agents in Mesa, Ariz., expanding its total network agent count to more than 14,500 and increasing its footprint to 133 office locations in 17 states. HomeSmart is transitioning Trails and Paths and its agents to be part of its Phoenix brokerage.

HomeSmart, recognized by Real Trends 500 as the No. 5 company for transactions and No. 7 company for volume in the U.S., maintains its ranking as the No. 1 brokerage in Arizona based on its nearly 7,000 agent count in the state. Already revered for its national growth, HomeSmart also ranks in the Franchise Business Review Top 200, Swanepoel Power 200 and the Inc. 5000 fastest-growing private companies.

“Trails and Paths attracted high-quality agents in Mesa and outlying areas that we are excited about joining the HomeSmart family,” said HomeSmart COO Wendy Forsythe. “We are thrilled this great company and its agents will be part of our tremendous momentum as we continue to focus on our strategic priorities to provide long-term value to our agents and their clients.”

The acquisition of Coldwell Banker Trails and Paths is part of HomeSmart’s aggressive growth plan put in action by its leadership team in early 2017, which led HomeSmart to grow by over 32 percent year-over-year.

“After 20 years serving the East Valley, Trails and Paths has agreed to a sale and merger with HomeSmart, one of the fastest-growing real estate companies,” said Managing Broker and CEO of Coldwell Banker Trails and Paths Ron Brown. “I believe HomeSmart’s cutting-edge technology will take us to a new generation of real estate services for our agents and customers.”

The acquisition of this former Coldwell Banker brokerage gives the combined network of Phoenix agents another location to serve and meet with customers in its high-tech, consumer-focused office. Each agent will now have access to HomeSmart’s unmatched, end-to-end proprietary systems and technology including RealSmart Agent, SmartSites and Marketing Design Center.

“As part of the acquisition, HomeSmart is taking over the existing office space that the agents already utilize and is upgrading their technology. We want them to continue to have consistency as they transition to HomeSmart,” said HomeSmart founder and CEO Matt Widdows. “At the same time, this allows us to expand our footprint in an area where we’ve been looking to establish an office for a while in order to provide amenities to agents in addition to our industry-leading technology.”

This acquisition follows HomeSmart’s 2017 acquisition over of Cherry Creek Properties in Denver, which made HomeSmart Realty Group the No. 1 brokerage in Colorado with over 2,300 agents.