AgentBrokerage

How to digest a big acquisition: HomeSmart’s top leaders spill the beans

Do your homework before merging and make the transition as easy as possible on new agents

At the end of May, a group of around 400 agents gathered at the Mile High Station, an attractive Denver party venue, as privately held franchisor HomeSmart International announced the acquisition of Denver-based Cherry Creek Properties. It marked the culmination of a relationship between the two founders that had been several years in the making. Both sides did their homework to uncover a number of parallels between the two companies: a 100-percent commission model, a dedication to their agents and mutually beneficial timing. Dino Sarganis, who founded Cherry Creek in 2006, is expected to stay on for the rest of the year before retiring, while the deal made HomeSmart no. 1 in Colorado by agent count, adding to its base of 600 before the acquisition for a total of more than 2,100 associates in a state where real estate is booming. HomeSmart's announcement of the Cherry Creek acquisition With a solid foundation for the acquisition, HomeSmart also navigated the merger execution ...