Modern Real Estate, a 168-agent flat-fee indie brokerage in Colorado is affiliating with JP & Associates Realtors (JPAR), a national real estate franchisor and brokerage, the two real estate firms confirmed Friday.
“We have been pursued by many real estate companies over the years,” Paul Kenner and Ryan Jonke, the co-owners of Modern Real Estate, said in a statement.
“We have never been close to making the change because our company is one of those things we have put our heart and soul into for the past 13 years,” the statement continued. “When JPAR knocked on our door we could not believe how aligned our companies were when it came to our culture, a 100-percent commission model and our love for the agents that make us successful.”
Kenner and Jonke, said that JPAR’s ability to streamline the day-to-day activities of real estate agents, while providing those agents with top tools, allowing them to focus more time on their clients, was one of the biggest selling points.
The two co-owners also said they were impressed with how proactive JPAR was in supporting its agents and affiliated brokerages during the pandemic, which sealed the deal.
JPAR’s aggressive growth is yet to be slowed by the COVID-19 pandemic and Modern Real Estate is just the latest to affiliate with the firm.
“Since the beginning of the year JPAR has sold franchises to expand into seven new states and sold franchises to new franchisees in three states where we already have a presence,” Geoff Lewis, the CEO of the company’s growing franchise division, told Inman.
JPAR has several more states where sales are imminent, according to Lewis. Most of those sales have come during the country’s stay-at-home orders, while real estate activity plummeted.
A number of real estate’s leaders have predicted a consolidation due to COVID-19, or a flight to larger-scale operations. Earlier in the week, massive indie brokerage @properties made in investment in Nest Realty and Inman reported a 68-agent brokerage affiliated with Compass.
“The pause in the market due to COVID-19 has many brokers and agents looking for a better value proposition,” JP Piccinini, the founder of JP & Associates Realtors and CEO of its parent company, told Inman.
“When they look at JPAR they see best in class technology and training with an emphasis on productivity and service at a much lower cost due to our 100 percent commission, transaction fee model,” Piccinini added. “We are growing our agent count and franchise sales during this period because these strategic brokers and agents see our brokerage model of the future as a way to gain share when the market rebounds later this year.”