Expanding on its franchise program, @properties is adding its fourth and largest independent brokerage as it expands its Midwest teams.
Plat Collective, a 10-year-old firm led by Mark Nottingham and Rex Fisher, will add 114 agents across two Indianapolis offices to the @properties brand over the next 60 days as it repositions its own development trajectory, the company said.
The move is part of @properties’ efforts to advance its national footprint as quickly as possible with the franchise program it announced late last year.
“@properties’ technology-driven solutions, community- and agent-focused culture and incredible success made them a great fit for us as we considered our future,” Nottingham said in a statement, adding “their technology is better than any we’ve seen.”
Plat Collective has grown in tandem with Indianapolis, which has seen its population increase more than 6 percent in the last decade. The company closed $411 million in sales last year and is on track to record $650 million in deals this year.
Plat Collective’s move to a national company comes as competition in the Indianapolis market intensifies. Compass, a major @properties competitor that is also aggressively pushing into new markets, entered Indianapolis last month, citing its luxury sales potential.
F.C. Tucker Co., one of the area’s oldest agencies, was recently sold to Howard Hanna Real Estate Services, and Offerpad, an iBuyer, also planted stakes there.
Fisher said @properties’ “independent spirit and local focus” was a good fit with Plat Collective “but a life stage ahead of us.”
For @properties, Plat’s “Indianapolis presence helps strengthen our position as the leading Midwest brokerage firm,” Thad Wong, co-founder and co-chief executive, said.
In the Midwest, the company has franchises in Detroit and LaCrosse, Wisconsin, and recently added Dallas to the fold. It also acquired Suburban Jungle, the New York-based residential concierge it expects will be a lead generator for its agents.