HomeServices of America subsidiary Edina Realty has acquired Hegg Realtors, the largest real estate brokerage in South Dakota by sales volume.
Founded in 1945, Sioux Falls-based Hegg Realtors’ 200 agents closed $1.22 billion in sales volume in 2021. Edina, which had a sales volume of $10.8 billion last year, has nearly 2,300 Realtors in Minnesota and western Wisconsin, including several who do a few transactions per year in South Dakota.
But acquiring Hegg, which has offices in Sioux Falls and Rapid City, gives Edina its first “significant presence” in the state, Gena Henrich, Edina’s director of marketing, told Inman via email.
The acquisition closed on Dec. 31. The company declined to disclose the acquisition price.
“By joining with Edina Realty, we have an extraordinary opportunity to strengthen our depth of services in the South Dakota market,” said Gregg Gohl, Hegg Realtors’ CEO, in a statement.
“Edina Realty is known for its integrity, financial strength and operational excellence, and we are pleased to be a part of this dynamic organization.”
Gohl and Hegg’s chairman Bill Hegg will continue to lead Hegg Realtors locally in partnership with Edina Realty Home Services President and CEO Greg Mason and Edina Realty President Sharry Schmid, the company said.
The brokerage will keep its local brand as Hegg Realtors, an Edina Realty company.
In a statement, Mason said Edina Realty is excited about offering Hegg Realtor agents expanded support, technology and resources and about serving South Dakota buyers and sellers.
“Bill, Gregg and their agents have built an incredible business over the past 77 years,” Mason said. “We look forward to expanding our network to include their expertise in South Dakota.”