{"id":3784,"date":"2022-12-12T23:47:11","date_gmt":"2022-12-12T23:47:11","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2022\/12\/12\/richmond-real-estate-brokerages-join-forces\/"},"modified":"2025-03-13T02:48:17","modified_gmt":"2025-03-13T02:48:17","slug":"richmond-real-estate-brokerages-join-forces","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2022\/12\/12\/richmond-real-estate-brokerages-join-forces\/","title":{"rendered":"Richmond real estate brokerages join forces"},"content":{"rendered":"\n

Two Richmond, Virginia-based real estate brokerages have joined forces: One South Realty Group<\/strong> will absorb Clocktower Realty Group<\/strong>. With this consolidation, One South will double in size, to 140 agents and staff.<\/p>\n\n\n\n

Richmond Biz Sense reported<\/a> that the two companies are in the process of this transition and 50 agents out of Clocktower\u2019s 73 agents have already moved to One South. Rhonda Carroll, principal broker at Clocktower, is expecting a 90% retention rate.<\/p>\n\n\n\n

Clocktower, launched by Carroll in 2017, consulted One South in the face of a slowdown in the housing market and rising interest rates.<\/p>\n\n\n\n

Carroll will serve as an additional managing broker, alongside current One South managing broker Laura Waite. In her new role, Carroll will help agents with branding and strategies for challenging listings.<\/p>\n\n\n\n

One South opened in 2008 and survived the recession back then \u2014 one of the reasons why Carroll sought their advice.<\/p>\n\n\n\n

Rick Jarvis, co-founder of One South, said the company was not actively looking for a merger but eventually it made sense to leverage the benefits both companies bring to the table. <\/p>\n\n\n\n

While the company wasn\u2019t looking to bring another firm into the fold, he said combining with Clocktower made sense to both companies and brought benefits to both sides.<\/p>\n\n\n\n

\u201cThe financial analysis was actually the easy part; the harder part was making sure that culturally and philosophically we were aligned,\u201d he said.<\/a><\/p>\n\n\n\n

Combined, the two companies closed around 1,000 residential transactions so far in 2022.<\/p>\n\n\n\n

\u201cWhat we are building is actually designed for a market that is changing, and we are excited by what the future will bring,\u201d Jarvis said.<\/p>\n\n\n\n

In the face of a volatile housing market,<\/a> these mergers are on the rise. Flat-fee firm Houwzer, <\/strong>modeled around salaried real estate agents, fixed listing prices for sellers and high attach rates for ancillary services, acquired Trelora,<\/strong><\/a> a Denver-based brokerage, to \u201cinnovate, build, and scale a transformational enterprise serving customers during this seismic market shift.\u201d<\/p>\n\n\n\n

Earlier this month, Bismarck-based brokerage Better Homes and Gardens Real Estate Alliance Group<\/strong> merged with<\/a> Watne, Realtors<\/strong> based in Minot, North Dakota, to expand the firm\u2019s growth in the northern region of the state.<\/p>\n","protected":false},"excerpt":{"rendered":"

Two Richmond-based real estate brokerages joined forces, in which One South Realty Group absorbed Clocktower Realty Group.<\/p>\n","protected":false},"author":39545,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[2886],"class_list":["post-3784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nRichmond real estate brokerages join forces - RealTrends - Blog<\/title>\n<meta name=\"description\" content=\"Two Richmond-based real estate brokerages joined forces, with One South Realty Group absorbing Clocktower Realty Group.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/preprod.realtrends.com\/blog\/2022\/12\/12\/richmond-real-estate-brokerages-join-forces\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Richmond real estate brokerages join forces\" \/>\n<meta property=\"og:description\" content=\"Two Richmond-based real estate brokerages joined forces, with One South Realty Group absorbing Clocktower Realty Group.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/preprod.realtrends.com\/blog\/2022\/12\/12\/richmond-real-estate-brokerages-join-forces\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - 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