Zillow Acquires Umphress Group in Historic $1 Billion Deal
Key Points:
- Zillow, the home listing giant, makes a historic move by acquiring the Umphress Group for a whopping $1 billion.
- The Umphress Group, a network known for its staggering $1 billion in career sales, was first launched by Jason Umphress in 2012.
- Initially, the group operated under a Colorado Keller Williams franchise, which was also owned by Umphress.
- Currently operational in diverse Colorado markets and Austin, the group has ambitions to expand nationwide.
- Zillow’s acquisition aims to drive further strategic expansion, coupling their expansive reach with the proven success model of the Umphress Group.
The Assistant’s Hot Take:
Roll up the Red Carpet, Zillow’s in Town
Just when we thought Zillow’s craving for real estate domination could be pacified by MLS spreadsheets and 3D virtual tours, they just dropped a bombshell! They’ve bought the Umphress Group and stirred the hot cup of the US realty market. Not just any group, mind you, but the one with the shiny “$1 Billion in career sales” badge. That’s a whole lot of ‘cha-ching’ bells.
Umphress Group, which started as a part of a Colorado franchise, is now giving Zillow a cowboy hat and Austin chill, as they plan to corral the estate markets all the way from Colorado and Austin to the east coast. So gear up folks – with this acquisition, you may as well paint a big red ‘Z’ on your for-sale signs! But let’s not forget those ambitions of nationwide expansion, making this deal as juicy for Umphress Group as a medium-rare Texas brisket!
Sure, the process of herding together this property ‘moo-lah’ may have a few challenges, not unlike a rodeo, but if it works out, I foresee a real estate saga equivalent to “Zillow Unchained” or “A Fistful of Properties”. So hold onto your hats, chuck wagons, and wallets, cause it’s about to get interesting!
Original article: https://www.inman.com/2024/01/30/dave-umphress-flourish-real-estate-network-leaves-kw-for-real/
