MADISON, N.J., Aug. 26, 2020 /PRNewswire/
-- ERA® Real Estate, a global franchising leader
within the Realogy family of companies, today announced that
Tom DeWine, CEO of ERA Colonial Real Estate based in Harker Heights, Texas, and Steve Doty, Owner of ERA Doty Real Estate in Jonesboro, Ark., have partnered to acquire
ERA Team Real Estate in
Conway, Ark. Each firm will retain
their individual names in their existing offices. This unique
partnership showcases the growth opportunities that come from being
affiliated with ERA Real
The DeWine and Doty partnership is indicative of the highly
collaborative culture of the ERA brand. They first met 15 years ago
during their initial ERA
onboarding and have consulted with each other numerous times before
taking an ownership stake in ERA
Team Real Estate.
Each has had individual success before agreeing to join forces
in Conway. DeWine, who took over
his father Dennis' ERA Colonial
Real Estate in 2017, has helped grow the firm to the
12th largest in the ERA
system. The central Texas
powerhouse generated 1,829 transaction sides in 2019 equating to
$489 million in sales volume. Doty
bought his firm in 2005 and launched with five agents. Today the
firm is the second largest in Jonesboro with 64 agents producing
$102 million in sales volume.
ERA Team Real Estate, with 53
agents, is a market leader in Conway and ranked in the top 50 of all
ERA franchises last year.
Kelli Small, a 26-year real estate
veteran who has been with the company for almost three years, will
serve as Director of Sales. It was previously owned by Tracy and Mark Tidwell. Tracy will remain with
the firm and continue to lead her successful Tracy Tidwell Team,
one of the top teams in the nation with $24.3 million in sales volume in 2019 according
to REAL Trends.
Conway, located 30 miles north
of Little Rock, is one of the
fastest growing cities in Arkansas
with a population of 68,000. Known as the "City of Colleges,"
Conway is home to the University of Central Arkansas, Hendrix College and Central
Baptist College. Conway is
also home to Acxiom Corporation, a leading information technology
company that employs 1,450.
- Small is the former President of the Faulkner County Board of REALTORS®
and REALTOR® of the Year. She is also active in the
Arkansas REALTORS® Association.
- ERA Team Real Estate has a
16.1% market share in Conway. It
is ahead of last year's sales pace.
- While the number of Conway
homes sales were essentially flat at 2.054 through June compared to
last year according to the Cooperative Arkansas
REALTORS® MLS (CARMLS), the average sales price has
risen 8.2% year-over-year to $169,494.
- Small reports a growing trend of grandparents moving to
Conway to be closer to their
families along with former residents also returning to take
advantage of the region's home affordability.
Estate is known as a highly collegial and collaborative brand which
makes it possible for us to present these types of opportunities to
our franchisees. We continue to leverage this differentiator to
fuel growth for the system. Tom and Steve epitomize our culture
which is truly defined by a close-knit community of real estate
leaders who share their expertise not only among their own
companies, but across the entire ERA network. Our brokers are heavily invested
in each other's success which makes the brand unique and powerful.
I can't think of another example where brokers separated by such a
great distance like Tom and Steve have come together in this type
of partnership, but I know it will work tremendously well."
-Sherry Chris, President
and CEO of ERA Real Estate
"I have known Tracy for a long time and when the opportunity
presented itself to purchase the company and allow her to return to
a focus on sales, I immediately said I would do it if Tom joined
me. Our relationship is so strong that we literally reached an
agreement and mapped out the plan on a cocktail napkin. I am very
comfortable with Conway as it
mirrors Jonesboro in so many ways
including its size, thriving economy, affordable living and the
benefits of being a college town. Kelli has worked closely with
Tracy for several years and has great rapport with the agents and
is a market expert. This, along with the combined resources of our
two companies, presents us with huge upside. The agents at
ERA Team, and those who join us,
will be able to provide their clients with more capabilities than
-Steve Doty, Broker/Owner,
ERA Doty Real Estate
"While it might seem odd for a broker in Jonesboro and a broker in San Antonio to lead a company in Conway, it actually makes a lot of sense. We
are leveraging the strengths of two companies to make a third even
better. This is truly a case where nothing needs to be fixed.
Instead, our goal is to improve efficiencies, back office support,
training opportunities and aggressively market the company. We are
going to grow the presence of ERA
Team in Conway even further. Steve
and I are so compatible because we bring different skillsets to the
partnership and each of our own companies excels in different
areas. Rather than sitting back, both of us have a desire to buck
the trend. We don't want to stop or hunker down and believe we can
continue to grow and learn from and with each other."
-Tom DeWine, Broker/Owner,
ERA Colonial Real Estate
About ERA Real
At ERA Real
Estate, we don't adapt to change, we create it. We believe that our
core business values of collaboration, innovation, diversity and
growth are needed now more than ever. As a global leader in the
residential real estate industry for more than 40 years,
ERA was the first real estate
franchise to expand internationally, the first to post listings
online, and is the only national company that offers the Sellers
Security® Plan program.
The ERA Real Estate network
includes more than 35,000 affiliated brokers and independent
sales associates and approximately 2,200 offices
throughout the United States and 31 other countries and
territories. ERA Franchise
Systems LLC (www.ERA.com) which operates the ERA Real
Estate system, is a subsidiary of Realogy Holdings Corp.
(NYSE: RLGY), a global provider of real estate services.
ERA Real Estate information is
available at www.ExploreERA.com.
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SOURCE ERA Real Estate