August 26, 2020

ERA Collaborative Culture Showcased As Two ERA Broker/Owners Partner To Purchase A Third ERA Affiliate

<style type="text/css"> /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } </style> <p><span class="xn-location">MADISON, N.J.</span>, <span class="xn-chron">Aug. 26, 2020</span> /PRNewswire/ -- ERA<sup>®</sup> Real Estate, a global franchising leader within the Realogy family of companies, today announced that <span class="xn-person">Tom DeWine</span>, CEO of <span class="xn-location">ERA</span> Colonial Real Estate based in <span class="xn-location">Harker Heights, Texas</span>, and <span class="xn-person">Steve Doty</span>, Owner of <span class="xn-location">ERA</span> Doty Real Estate in <span class="xn-location">Jonesboro, Ark.</span>, have partnered to acquire <span class="xn-location">ERA</span> Team Real Estate in <span class="xn-location">Conway, Ark.</span> Each firm will retain their individual names in their existing offices. This unique partnership showcases the growth opportunities that come from being affiliated with <span class="xn-location">ERA</span> Real Estate. </p> <div class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder1"> <p> <a href="" target="_blank" rel="nofollow"> <img src="" title="ERA Real Estate" alt="ERA Real Estate"/> </a> </p> </div> <p>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 <span class="xn-location">ERA</span> onboarding and have consulted with each other numerous times before taking an ownership stake in <span class="xn-location">ERA</span> Team Real Estate.</p> <p>Each has had individual success before agreeing to join forces in <span class="xn-location">Conway</span>. DeWine, who took over his father Dennis' <span class="xn-location">ERA</span> Colonial Real Estate in 2017, has helped grow the firm to the 12<sup>th</sup> largest in the <span class="xn-location">ERA</span> system. The central <span class="xn-location">Texas</span> powerhouse generated 1,829 transaction sides in 2019 equating to <span class="xn-money">$489 million</span> in sales volume. Doty bought his firm in 2005 and launched with five agents. Today the firm is the second largest in <span class="xn-location">Jonesboro</span> with 64 agents producing <span class="xn-money">$102 million</span> in sales volume.</p> <p><span class="xn-location">ERA</span> Team Real Estate, with 53 agents, is a market leader in <span class="xn-location">Conway</span> and ranked in the top 50 of all <span class="xn-location">ERA</span> franchises last year. <span class="xn-person">Kelli Small</span>, 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 <span class="xn-person">Tracy and Mark Tidwell</span>. Tracy will remain with the firm and continue to lead her successful Tracy Tidwell Team, one of the top teams in the nation with <span class="xn-money">$24.3 million</span> in sales volume in 2019 according to REAL Trends.</p> <p><span class="xn-location">Conway</span>, located 30 miles north of <span class="xn-location">Little Rock</span>, is one of the fastest growing cities in <span class="xn-location">Arkansas</span> with a population of 68,000. Known as the &quot;City of Colleges,&quot; <span class="xn-location">Conway</span> is home to the <span class="xn-org">University of Central Arkansas</span>, <span class="xn-org">Hendrix College</span> and <span class="xn-org">Central Baptist College</span>. <span class="xn-location">Conway</span> is also home to Acxiom Corporation, a leading information technology company that employs 1,450.</p> <p><b>Details:</b></p> <ul type="disc"><li>Small is the former President of the <span class="xn-location">Faulkner County</span> Board of REALTORS<sup>®</sup> and REALTOR<sup>®</sup> of the Year. She is also active in the Arkansas REALTORS<sup>®</sup> Association. </li><li><span class="xn-location">ERA</span> Team Real Estate has a 16.1% market share in <span class="xn-location">Conway</span>. It is ahead of last year's sales pace. </li><li>While the number of <span class="xn-location">Conway</span> homes sales were essentially flat at 2.054 through June compared to last year according to the Cooperative Arkansas REALTORS<sup>®</sup> MLS (CARMLS), the average sales price has risen 8.2% year-over-year to <span class="xn-money">$169,494</span>. </li><li>Small reports a growing trend of grandparents moving to <span class="xn-location">Conway</span> to be closer to their families along with former residents also returning to take advantage of the region's home affordability.</li></ul><p><b>Quotes:<br/></b>&quot;<span class="xn-location">ERA</span> Real 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 <span class="xn-location">ERA</span> 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.&quot;<br/>-<b><span class="xn-person">Sherry Chris</span></b><b>, President and CEO of <span class="xn-location">ERA</span> Real Estate</b></p> <p>&quot;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 <span class="xn-location">Conway</span> as it mirrors <span class="xn-location">Jonesboro</span> 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 <span class="xn-location">ERA</span> Team, and those who join us, will be able to provide their clients with more capabilities than ever before.&quot;<br/>-<b><span class="xn-person">Steve Doty</span>, Broker/Owner, <span class="xn-location">ERA</span> Doty Real Estate </b></p> <p>&quot;While it might seem odd for a broker in <span class="xn-location">Jonesboro</span> and a broker in <span class="xn-location">San Antonio</span> to lead a company in <span class="xn-location">Conway</span>, 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 <span class="xn-location">ERA</span> Team in <span class="xn-location">Conway</span> 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.&quot;<br/>-<b><span class="xn-person">Tom DeWine</span>, Broker/Owner, <span class="xn-location">ERA</span> Colonial Real Estate </b></p> <p><b>About <span class="xn-location">ERA</span> Real Estate<br/></b>At <a target="_blank" href=";l=en&amp;o=2899218-1&amp;h=760587917&amp;;a=ERA+Real+Estate" rel="nofollow"><span class="xn-location">ERA</span> Real Estate</a>, 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, <span class="xn-location">ERA</span> 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. </p> <p>The <span class="xn-location">ERA</span> 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. <a target="_blank" href=";l=en&amp;o=2899218-1&amp;h=4253185206&amp;;a=ERA+Franchise+Systems+LLC%C2%A0" rel="nofollow"><span class="xn-location">ERA</span> Franchise Systems LLC </a>(<a target="_blank" href=";l=en&amp;o=2899218-1&amp;h=3534542149&amp;;" rel="nofollow"></a>) which operates the ERA Real Estate system, is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global provider of real estate services. <span class="xn-location">ERA</span> Real Estate information is available at <a target="_blank" href=";l=en&amp;o=2899218-1&amp;h=537728943&amp;;" rel="nofollow"></a>.</p> <p><b>Media Contact:</b> <br/><span class="xn-person">Marie VanAssendelft</span><br/>201-724-6372<br/><u><a target="_blank" href="" rel="nofollow"></a></u></p> <p> </p> <div class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder2"> </div> <p>SOURCE <span class="xn-location">ERA</span> Real Estate</p> <img alt="" src=";Transmission_Id=202008261000PR_NEWS_USPR_____NY06290&amp;DateId=20200826" style="border:0px; width:1px; height:1px;"/>

Read More
Related Articles

Get Industry Insights Right in Your Inbox

Sing up to receive email updates on all the latest webinars, articles, and events