Large regional brokerage F.C. Tucker Company has acquired a rival brokerage started by a former F.C. Tucker agent, boosting its market share to over 20 percent in the state.
F.C. Tucker is Indiana’s largest independently-owned real estate brokerage with more than $5 billion in annual sales, more than 40 offices, and more than 1,500 agents throughout Indiana and some markets in Kentucky, the company said in a statement. Howard Hanna acquired a stake in the company earlier this summer.
Now, F.C. Tucker itself has bought indie brokerage Front Porch Real Estate, which was founded in 2014 by former F.C. Tucker agent Jim Perry. Front Porch has 190 agents and five offices — four in Indianapolis and one in Paoli, Indiana. Front Porch’s annual sales exceed $348 million and the brokerage has 3.5 percent market share in the state, which will be added to F.C. Tucker’s market share to bring it above 20 percent, the company said.
Jim Perry
F.C. Tucker declined to disclose financial terms of the deal.
“When I created Front Porch Real Estate, I wanted to provide the highest level of support possible to my agents to assist them in delivering superior service to their own clients,” Perry said in a statement.
“When I decided to step back from ownership, F.C. Tucker was the clear choice. There’s no other brokerage I would entrust my business to. Tucker truly cares about its agents and staff – just as I do – and they have the resources, technology and support of a larger brokerage to help agents serve their clients at the highest level possible.”
Perry will join F.C. Tucker’s management team and all of Front Porch’s offices will remain open during a transition period that is expected to be complete by the end of the year, Claire Belby, F.C. Tucker’s senior vice president of marketing, told Inman via email.
Jim Litten
After the transition period, Front Porch’s agents will become part of F.C. Tucker offices and the Front Porch brand will transition to F.C. Tucker, the company said.
“I have known Jim Perry for many years as a knowledgeable and savvy professional who has built an impressive real estate business,” said F.C. Tucker CEO Jim Litten said in a statement.
“When we first started talking about the possibility of joining forces, it quickly became obvious this is a natural fit for both sets of agents, and a move that complements our ongoing growth strategy.”