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A group of established industry veterans have launched a new virtual brokerage called Realty of America (ROA), founders announced at Latino-focused business event L’ATTITUDE earlier this month.
The national brokerage boasts a comprehensive technology suite, compensation plans that includes revenue sharing and equity opportunities based on performance, and a focus on an inclusive culture and community, executives said.
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Eddie Garcia | Realty of America
The firm’s founders include CEO Eddie Garcia (formerly of Realty of Chicago), President Mark Dimas (formerly of Mark Dimas Properties), Chief Culture Officer Erinn Nobel (formerly of ENRG.realty, Real Brokerage and eXp Realty) and Dr. Peter Nobel (also of ENRG.realty, Real and eXp).
ROA’s launch encompasses 23 markets across the U.S. and over 2,000 agents who represent more than $5 billion in sales volume.
“The strength of ROA lies in our belief that when we uplift our agents, we uplift the communities they serve,” Garcia said in a statement. “We’re not just in the business of selling homes; we’re in the business of building long-term relationships and helping agents create lasting legacies in their neighborhoods, knowing that their success is our success.”
Mark Dimas | Realty of America
Garcia and Dimas both have experience building brokerages from the ground up, each having launched their own firms in Chicago and Houston, respectively, and grown them into multi-billion-dollar businesses over the years. Meanwhile, married couple Erinn and Dr. Peter Nobel bring experience to the firm of scaling operations and implementing brokerage technology, which they were involved in executing at eXp and Real.
“For us, culture isn’t just a buzzword — it’s the foundation of how we operate,” Erinn Nobel said in a statement. “We’re committed to building a people-first company where agents feel they belong and have the resources to succeed in both their personal and professional lives.”
Garcia told Inman that he and Dimas have known each other for about 10 years, but had never done business together. But when Garcia starting to develop ambitions of growing nationally, he knew Dimas was the first person he wanted to contact about partnership opportunities, both because of their existing relationship and Dimas’ own track record for having one of the top teams in the country.
Erinn Nobel | Realty of America
“So I flew to Houston and literally was like, ‘I want to build a national brokerage. I know what you’re doing is at a really high level,'” Garcia told Inman. “He shared his dream of what he wants to do, and I said, ‘I think between me and you, you being at the top of the sales side and me on the brokerage experience, we could build something incredible.’ So five minutes after that conversation, he’s like, ‘I’m in.'”
A mutual acquaintance introduced Garcia and Dimas to the Nobels, and it quickly became clear that their goals and talents complemented each other. When the four met, the Nobels had been developing their own brokerage tech, which made them the perfect fit to run ROA’s back office.
“When we met, we were like, ‘We have the front end, you guys have the back end. If we come together, this could be something really special.’ And that’s how we came together,” Garcia explained.
Dr. Peter Nobel | Realty of America
Garcia is currently in the process of shutting down operations at Realty of Chicago and transitioning the firm’s approximately 500 agents to ROA. He anticipated the process will take about three more weeks to complete.
At this time, the firm has operations largely concentrated in California, Illinois and Texas with some smaller outposts in New Jersey and the Washington, D.C. metro area, but will ultimately expand to all 50 states and Puerto Rico, with an eye to go international later on. One part of the firm’s three-year plan is also to go public, Garcia said. Although the brokerage has received offers from VC’s for funding, he is funding the company through revenue made at Realty of Chicago and Garcia’s related businesses, like training services, he added.
“[The] momentum is great,” Garcia told Inman. “Things so far have been going good, but obviously, we’re planning for things to not go as well as well because that’s just how life is. But we’re ready for it with the team that we have.”
Construction on a ROA headquarters is underway at 6507 West Cermak Road in Berwyn, Illinois, and is expected to be completed by the end of the year.
