Realty Austin and REILLY REALTORS® Join Forces to Become Market Leader in Austin
Combined company will have a seasoned leadership team, industry-leading agent tools, the top two local Austin real estate websites, and 585 agents with almost 10% market share
AUSTIN, Texas, Feb. 13, 2019 /PRNewswire/ -- Realty Austin, the top independent residential real estate firm in Austin, with 450 agents and $2.85 billion in annual sales, is pleased to announce the acquisition of REILLY, REALTORS®, the #3 independent firm in Austin with 135 agents and over $520 million in annual sales. Both firms foster innovation, empower agents to reach their full potential, give back to the Austin community, and consistently rank among the top 3 workplaces in Austin. Watch our announcement video.
The merger creates a powerful force in the Austin real estate market with almost 10% market share, and signals to the residential real estate industry that independent, agent-centric brokerages with forward-thinking technology will continue to lead from a position of strength by prioritizing their agents and customers. Read more here.
Jonathan Boatwright, co-owner of Realty Austin said, "We are thrilled to welcome REILLY, REALTORS® to the Realty Austin family. This is our first acquisition and one we made very thoughtfully. Our core values couldn't be more closely aligned as both companies have a team-oriented culture made up of very productive and collaborative agents. It will allow us the scale we need to take our agent tools and services to the next level while increasing our online presence by about 50%." The companies operate the #1 and #2 local real estate websites, realtyaustin.com and austinhomelistings.com.
Yvette Boatwright, co-owner of Realty Austin said, "Our companies are very similar, both culturally and professionally, as we are both consistently ranked within the top 3 workplaces and focused on giving back to the Austin community. We have long had a mutual respect for one another, and are very excited to welcome the Reillys, their agents and their amazing staff to our team."
Michael Reilly, owner of REILLY, REALTORS® said, "Jonathan and I have known each other for over ten years. We were among the first companies in Austin real estate to successfully leverage the Internet to generate opportunities for our agents, and over the years we've had many conversations around real estate and technology. I've always respected Jonathan as one of the most forward-thinking people in the business. My most important priority in this move is making sure our agents and staff have a place where they can continue to grow and thrive. We know Realty Austin is that place."
Shae Reilly agrees and adds, "This merger will also benefit our home buyers and sellers, thanks to Realty Austin's exceptional marketing platform and technology tools. We know our agents will have even more resources and training, and with our combined support staff, more time to spend on the things that matter most to their clients. We will be better together!"
Realty Austin was formed in 2004 by co-owners Jonathan and Yvette Boatwright with a strong belief that a brokerage should be far more than a place for agents to hang their license. The firm quickly became one of the fastest growing companies in the Austin area by focusing on hiring full-time, producing agents and empowering them with technology and marketing to help them grow their business. These efforts have earned the firm industry recognition as one of the most innovative brokerages in the United States.
The brokerage was the first in Austin to harness the power of the Internet to grow their agent's business, and in 2006 was one of the first brokerages in the US to leverage Salesforce CRM to make their agents more productive. Realty Austin recently upgraded its brand with a new logo, signage, and a refresh of the Realty Austin website and mobile home search app. This new look reflects the visionary spirit of the company and their trajectory of success.
In 2019 the company will open three new state-of-the-art Agent Success Centers near Lakeline, the Triangle, and Southwest Parkway. An Agent Success Team will staff each of these locations to help agents grow their business through coaching, training and collaboration with their peers. Realty Austin agents are supported in total by 52 staffers in 6 offices throughout the Austin area, and average more sales per agent than any other large firm in Austin.
REILLY, REALTORS® was founded in 2006 by former tech executives Michael and Shae Reilly. The firm has seen increasing growth in the past several years which led them to start exploring options for taking the company to the next level. The Reillys were approached by several national real estate firms but elected to partner with Realty Austin because of their strong local brand and the superior services that Realty Austin could offer their agents.
REILLY, REALTORS® agents will transition to the Realty Austin brand over the next few weeks.
About Realty Austin
Realty Austin is the #1 independent residential real estate firm in Austin with $2.85 billion in sales in 2018. With this merger, Realty Austin welcomes an additional 135 agents to its 450 full-time, high-producing agents, all hand-selected for their experience, market knowledge, and career accomplishments. A member of Luxury Portfolio International® and Leading Real Estate Companies of the World®, Realty Austin is the most innovative and progressive real estate company in Austin, uniquely suited for its high tech, homegrown culture. For more information, visit realtyaustin.com or call 512.241.1300 or become a fan on Facebook at facebook.com/realtyaustin.
Media Contact: Jen Davis, 1-512-484-6751, [email protected]
SOURCE Realty Austin
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