Fort Collins-based The Group Inc. acquires Colorado Group Realty
Based in Fort Collins, The Group Inc. announced on Monday, Aug. 1, that it has acquired Steamboat Springs Colorado Group Realty, which made up 29% of the local market in 2021.
“We have a very strong cultural connection in the way we view servicing the real estate industry, and ultimately the customers and the communities,” said Brendon Wells, president of The Group Inc./Group Financial Partners. “We’ve had a long-standing history of respect and mutual respect of each other in the way that we do business.”
The Group actually provided the model that the 12 founders of Colorado Group Realty followed when they were creating the company in 1995. Wells would not disclose how much Colorado Group Realty sold for. However, the acquisition was approved unanimously by Colorado Group Realty’s board of directors.
“Colorado Group Realty had actually reached out to The Group and one of our founding members, Larry Kendall, when they were essentially creating their business model,” Wells recalled. “They wanted to do things in a different way, and I think it’s proven to be successful for both of us.”
The sale means Colorado Group Realty will begin transitioning into The Group. Wells said the level of professionalism and services offered by the Steamboat-based real estate company will remain unchanged, but the name will change. He stressed that the company will continue to be a strong community partner and operate a charitable foundation that supports local nonprofits.
According to a news release, each company is an industry leader in its respective market, and together they combined for nearly $3.3 billion in sales volume in 2021, with Colorado Group Realty accounting for more than $850 million and The Group bringing in $2.45 billion.
Seventy agents and 14 support staff members from Colorado Group Realty are joining The Group. The management team for the Steamboat and Hayden offices includes Josh Miller, regional sales manager, and Shelly Stanford, the managing broker. Miller replaces Steve Goldman, former CEO for Colorado Group Realty, who recently announced his plans to step down after six years of leading the company.
“This is a great thing, and joining forces with The Group will just make both companies stronger,” Goldman said. “We created our business model off what they were doing and we’ve always been very tight — we’re really kind of like kindred spirits.”
Miller, who has been general manager of Vacasa, has stepped into the position as regional sales manager and will take the helm of the Steamboat office.
“This has given me an opportunity to be a leader in Steamboat and to be committed to the community, committed to the team here in Steamboat and continue to provide a high level of service,” Miller said.
He also stressed that the level of professionalism and service will continue, but added that the acquisition means the brokerage’s customers will be able to take advantage of expanded services, including plans to provide title and mortgage services in Steamboat.
Wells said Colorado Group Realty and The Group are like-minded real estate firms and both companies are affiliates of Leading Real Estate Companies of the World — a global network of independent brokerages. They also both follow the “Ninja Selling” sales philosophy created by Kendall, who cofounded The Group in 1976.
“Every year we get approached multiple times by all the large national franchises that aren’t here and asked if we’re interested in selling,” Goldman said. “The Group is the first time we were actually interested because we’re so culturally aligned and so ethically aligned in how we talk to our clients, to our commission plan and the language we use internally — it’s a perfect match.”
John F. Russell is the business reporter at the Steamboat Pilot & Today. To reach him, call 970-871-4209, email jrussell@SteamboatPilot.com or follow him on Twitter @Framp1966.
Support Local Journalism
Support Local Journalism
Readers around Steamboat and Routt County make the Steamboat Pilot & Today’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Each donation will be used exclusively for the development and creation of increased news coverage.