Griffin Co. real estate firm expands through Fort Smith acquisition
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The offer closed in December. Brandon Long, broker/owner of The Griffin Co., explained the offer included Ramona Roberts Realtors’ 5,100-square-foot office building at 3500 Old Greenwood Road. Relating to Sebastian County house records, that deal was worth $600,000. The building properties The Griffin Co.’s new Fort Smith office.
“Fort Smith is a great industry,” Long said. “It doesn’t have the price point that we own in Northwest Arkansas, but there’s a lot of actual estate for sale down there. Slightly bit cheap point.”
Long said the acquisition added 18 new agents to The Griffin Co., taking its agent count to 200. The agency now has 70 agents in Springdale, 60 in Bentonville, 45 in Fort Smith and 25 in Fayetteville.
Ramona Roberts has joined The Griffin Co. as an executive broker in the agency’s Fort Smith workplace.
It’s the next Fort Smith acquisition for The Griffin Co. in 3 years. In January 2018, the firm acquired a Weichert franchise in Fort Smith possessed by Kevin and Elizabeth King.
Long said The Griffin Co. had 2,100 transactional sides in 2020 and $535 million in sales, up from $500 million in 2019.
Much time, Carter Clark, Philip Taldo and Gary Griffin will be the Griffin Co. franchise owners, which includes divisions for both home and commercial properties.
Long and Clark bought the Weichert franchise on 2007. The business was officially produced in December 2009 by merging two corporations: Weichert, Realtors-Clark Prolonged & Associates and Springdale-established The Griffin Co., possessed by Griffin and Taldo.
Long said the regional market in 2021 is so far picking up where 2020 eventually left off. Northwest Arkansas home sales in 2020 raised nearly 13% from the comparable 2019 figure, a lot more than dual the growth rate from the previous time. In the Fort Smith metro, home sales were up a lot more than 16% last year.
“It’s a robust industry,” Long said. “Every residence gets multiple offers. You’ve got to position yourself to make an excellent offer.”
Long said getting ultimately more people vaccinated quickly can help raise the market’s low casing inventory.
“When nearly all Northwest Arkansas gets vaccinated, I feel like you will see just a little let-up with the inventory,” he said. “Some sellers are [certainly not listing] their homes because they do not want people strolling through their homes that they do not know. I believe that is a big component of it. Arrive summer time, hopefully, somebody will allow gates open with some listings.”
Source: https://talkbusiness.net