United Real Estate Group Reports Second Quarter 2021 Results with Industry-Leading Growth in Revenues, Gross Margin and Earnings; Company Raising 2021 FY Guidance
Record-Setting Results Driven by Strong Organic Growth of Existing Operations and Expansion of United's Network That Leverages United's Proprietary Bullseye™ Technology Productivity Platform
DALLAS, July 29, 2021 /PRNewswire/ -- United Real Estate Group announced today better-than-guidance performance for all key financial and operational performance indicators across each of its business units through June 30th, 2021. In addition, the company successfully completed the post-merger operational integration and initial Bullseye™ Agent and Brokerage Productivity Platform technology rollout to recently merged companies, resulting in average growth among those merged companies post-closing of 24% (agent growth), 44% (transaction growth) and 65% (EBITDA growth).
Key Financial and Operational Performance Metrics Through June 30th, 2021
- Agent growth increased 87% YTD from 7,908 agents at the close of June 2020 to 14,772 agents at the close of June 2021.
- Total revenues increased 472% YTD from $26.81 million at the close of June 2020 to $153.40 million at the close of June 2021.
- Transaction count increased 106% YTD from 18,012 at the close of June 2020 to 37,017 at the close of June 2021.
- Transaction volume increased 110% YTD from $4.032 billion at the close of June 2020 to $8.465 billion at the close of June 2021.
- Agent commissions earned increased 567% YTD from $17.73 million at the close of June 2020 to $118.17 million at the close of June 2021.
"Our team has spent a decade under the radar doing the heavy lifting to refine our business model, deploy our proprietary cloud-based technology stack and build the operational infrastructure to become an Exceptionally High Growth Organization. We are now realizing the benefits of the efforts of our talented group of dedicated professionals," said Dan Duffy, CEO of United Real Estate Group.
"We've built remarkable scalability and efficiency into United's technology, support and operational platform. As our growth accelerates, the financial and operational leverage is being realized and margins are expanding even as revenues accelerate. It is really exciting to see everyone's diligent efforts paying off in so many ways to the benefit of our agents, brokers and their clients."
"The scale of our business now allows us to double down on investments in innovation with a regular cadence and enhance our value proposition to our stakeholders. We are adding new resources, tools and core services to our already robust technology-enabled business services platform. All these efforts are made more efficient with greater effectiveness as a result of moving our technology stack to the cloud."
"Through United Real Estate's unique, proprietary marketing and technology platform and our low agent fee, full-support business model, we have facilitated nearly a quarter billion more of commission income to our affiliated agents than they would have received from traditional commission-split business models. This allows our agents to earn a better living while still being responsive to consumer demands for lower-cost transactions and industry-wide changes as they evolve. Empowering our network of brokers and agents to be nimble and responsive to consumers is a hallmark of our network and our penultimate goal."
To learn more about United Real Estate, brokerage succession planning, brokerage valuation and sale or franchising opportunities, visit GrowWithUnited.com or call 888-960-0606.
Agents interested in learning about career opportunities with United Real Estate can visit JoinUnitedRealEstate.com or call 888-960-0606.
About United Real Estate
United Real Estate (United) – a division of United Real Estate Group – was founded with the purpose of offering solutions to real estate brokers and agents in the rapidly changing real estate brokerage industry. United provides the latest training, marketing and technology tools to agents and brokers under a flat-fee, transaction-based agent commission model. By leveraging the company's proprietary cloud-based Bullseye™ Agent & Broker Productivity Platform, United delivers a more profitable outcome for agents and brokers. United Real Estate operates in 27 states with more than 100 offices and over 11,400 agents.
About United Real Estate Group
United Real Estate Group (UREG) operates United Real Estate, Charles Rutenberg Realty Fort Lauderdale, Benchmark Realty, Virtual Properties Realty and United Country Real Estate, addressing the unique market needs of suburban, major metropolitan urban and rural markets. Utilizing the cloud-based Bullseye™ Agent & Broker Productivity Platform, UREG offers the latest training, marketing and technology tools producing a significant competitive advantage. The platform realizes a decade-long investment in virtual agent and brokerage technology services and is powered by a 1.8+ million listings data warehouse generating over 3 million monthly visitors and 30,000 leads per year. Together, the United Real Estate Group supports more than 600 offices and 15,000 real estate and auction professionals across four continents. Through its in-house advertising agency, UREG offers differentiating marketing support and collateral for specialized lifestyle property websites as well as access to a 650,000+ opt-in buyer database. For more information about United Real Estate or United Country Real Estate, please visit UnitedRealEstate.com or UnitedCountry.com.
For More Information:
April Gonzalez, Media & Investor Relations
[email protected]
214-277-9830
SOURCE United Real Estate Group
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