United Real Estate, a large national franchisor with over 6,000 agents and $6.6 billion in sales volume, just announced that it is merging with Charles Rutenberg Realty.
A Fort Lauderdale, Florida-based brokerage, CRR has over 1,000 agents working across the southern part of the state. According to statements made by both companies, Charles Rutenberg will continue its regular operations and 100 percent commission model after the merger. Terms of the merger were not disclosed.
“I was inspired to start CRR out of necessity, and heard the complaints of agents who were unhappy about losing 50 percent of their commission to their broker,” said John Nestor, founder of Charles Rutenberg Realty. “We’ve since expanded inside and outside Florida using our 100 percent commission model. Today, United Real Estate gives Fort Lauderdale the opportunity to become a part of a larger organization built on the same principles, and I know they will be successful.”
United Real Estate, which also offers agents 100 percent commissions with a transaction fee, sprang out of the Kansas City, Missouri-based United Country Real Estate, which has been conducting property auctions since the 1920s. The merger is, according to United, an effort to expand the company’s reach in different parts of the country.
“We strive to give our agents a high-quality experience so they can do their jobs with excellence, and CRR is built on the same principles as United,” Rick Haase, United Real Estate president, said in a statement. “We are also excited to be able to work side by side with Cynthia Benchick as she continues her incredible success building CRR’s strong image and reputation in South Florida.”
Benchick, who is the co-owner and managing broker of CRR, will continue on as the head of the brokerage.
In July, a lawsuit filed by former franchise owners accused United Real Estate of removing over 2,000 agent websites. The company claimed that its effort to move the sites to a proprietary tech platform glitched.