RVA Blue Realty emerged from a merger between River City Blues and United Real Estate Richmond, driven by the desire to return to physical office operations after a period of virtual work during COVID. Founder Smitty Smith emphasized the value of this merger, noting expanded training and administrative support for agents. United Real Estate, founded in 2015, has become the largest African American-owned brokerage in the Mid-Atlantic, using a flat-fee model that enables agents to retain full commission. Discussions for additional mergers are underway, highlighting a trend towards consolidation in the real estate sector.
We wanted to get back to an in-person workshop. We reached out to John to see what some of the large, successful firms were doing, and we walked in and I was like, Wow, this is what I want right here.'
He has the infrastructure and the experience that helps me and the agents already associated with River City Blues Realty, so it's a win-win situation for my agents especially.
That is the direction of real estate today if you're a brokerage. The fees that you charge generally are contracting.
The company uses a flat-fee brokerage model that charges agents about $700 per transaction while allowing them to keep 100% of their commissions.
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