Utah-based Cairn Real Estate Holdings, LLC announced Tuesday that it had acquired Colorado-based Your Castle Real Estate and Shorewood Real Estate.
According to its LinkedIn page, Your Castle Real Estate is the largest independent real estate brokerage in the Front Range of Colorado.
This latest acquisition adds over 750 real estate agents to Cairn’s team, bringing its total agent count to over 4,300.
Terms of the deal were not disclosed. Your Castle and Shorewood will continue operating their current branding.
“This acquisition was interesting to us because of the strength Your Castle and Shorewood’s brands in the Front Range and for their tenure in the area,” Cairn CEO and chairman Rick Davidson told RealTrends in an interview Wednesday.
Davidson is an industry veteran. Before starting Cairn in partnership with Aperion Management, Davidson spent 11 years at Realogy in executive leadership roles and was the global chief executive officer at Century 21 Real Estate.
“Our commitment is keenly focused on serving the agent and the consumer through local market companies who have consistently delivered the highest level of professional service, and who enjoy an outstanding reputation and market position,” Davidson said in a statement.
The company’s end goal is to integrate all aspects of the real estate services industry and to deliver a seamless consumer experience in the home purchase and home sale process.
“This transaction positions us to continue providing industry leading service and resources, and to continue our growth trajectory and leading market position in the Front Range,” Lon Welsh, the founder of Your Castle said in a statement. “It will enable our agent team to stay on the leading edge of client service and market intelligence.”
This acquisitions come just a few months after Cairn acquired JPAR Franchising and JP & Association Realtors in the spring. JP & Associates Realtors (JPAR) is a RealTrends 500 brokerage, ranked No. 22 by transaction sides and No. 38 by sales volume.
Davidson says that Cairn is “model agnostic” in its acquisition strategy, meaning that they are not looking to acquire brokerages that fit within a specific framework, but are open to considering any brokerage that they feel will help them achieve their end goal.
“We’re not looking to cobble together numerous models and consolidate them into a single operating entity under a brand name,” Davidson said.
Looking into the future, Davidson told RealTrends back in May, that his strategy to have Cairn become a national sales platform will include the future acquisition of ancillary service providers, independent brokerages, franchise-branded brokerages and franchise platforms operating across the spectrum of agent compensation models from traditional split to transaction fee models.
“We are really looking to acquire brands that have a strong market presence in their geographic area,” Davidson said. “We will continue to look at additional acquisitions in 2022 and beyond in the brokerage arena, as well as in the ancillary services arena. We’re interested in the acquisition of mortgage companies, title companies ,escrow companies, potentially in the home warranty space and the home inspection space.”
Editor’s note: This story has been updated to include comments by Rick Davidson.