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Allen Tate acquires Triad firm

Oct. 1. Allen Tate has acquired Realty One, a Winston-Salem firm, for an undisclosed amount. Charlotte-based Allen Tate will take over eight Realty One branch offices in the Triad region, including three in Winston-Salem.

JESSICA AND ERIC MUNGER

Allen Tate, with 47 offices, is the Carolinas’ leading real estate company, with 21,190 closed transactions and $5.75 billion in closed sales volume in 2018.

Realty One is an independent, family-owned residential real estate company with more than 65 agents in Forsyth, Guilford, Davidson, Davie, Stokes, Surry and Yadkin counties. In 2018, Realty One closed 516 transactions totaling $93 million in closed sales volume.

Eric Munger, owner and broker-in-charge of Realty One, will join the Allen Tate Winston-Salem leadership team, along with branch leaders Angela Kalamaras and Holly Lindsey.

Munger and his wife Jessica started Realty One as a virtual agency in 2010, moving to the company’s first brick-and-mortar office in 2015 and its current location on Vest Mill Road in Winston-Salem in 2017.

“Very rarely in a marketplace can two cultures come together as one when they were previously competitors. Eric has established so much in such a short time. We have admired each other from afar and up close, and together, we will provide the very, very best to our clients and the community at large. So proud to become one,” said Pat Riley, president and CEO of Allen Tate.

The company is looking at acquiring additional brokers throughout the Southeast and expects continued growth through acquisitions.

“Allen Tate aligns with who we are. We’ve built our business caring about our agents, our clients and our community. We value both identity as individuals and collaboration as a team. And like Allen Tate, we believe that homeownership is a lifelong journey and relationship,” Munger said.

Munger said he saw the opportunity to take what he had built and become part of something bigger.

In September 2018, Allen Tate Realtors joined forces with Howard Hanna Real Estate, the third largest real estate company in the United States and the largest home seller in Pennsylvania, Ohio and New York.

The partnership created the largest privately owned real estate company in the nation, with more than 11,000 agents and employees in more than 300 offices in 10 states.

This acquisition is the second since the partnership of Allen Tate and Howard Hanna, which has given Allen Tate substantial traction and scale in the competitive real estate industry. Last month, Allen Tate announced the acquisition of Blowing Rock Investment Properties, marking the firm’s entry into the High Country.

 

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