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.

Paul Kenner | Photo credit: Modern Real Estate

“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.

Ryan Jonke | Photo credit: Modern Real Estate

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.”

Email Patrick Kearns

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect Las Vegas is back and there are only a few presale tickets left! Register today before they're gone.REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription